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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Garda World Security Corp.</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>Garda World Security Corp.</title>
        <cusip>36485MAK5</cusip>
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          <isin value="US36485MAK53"/>
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        <balance>910000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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      <invstOrSec>
        <name>PTC, Inc.</name>
        <lei>54930050SSMU8SKDJ030</lei>
        <title>PTC, Inc.</title>
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          <isin value="US69370CAB63"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
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          <annualizedRt>3.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sonic Automotive, Inc.</name>
        <lei>549300NTLRGJ2JCBZU03</lei>
        <title>Sonic Automotive, Inc.</title>
        <cusip>83545GBD3</cusip>
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          <isin value="US83545GBD34"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212275.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>GoTo Group, Inc.</name>
        <lei>549300D12V5KRBV00592</lei>
        <title>GoTo Group, Inc.</title>
        <cusip>541056AA5</cusip>
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          <isin value="US541056AA53"/>
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        <balance>5316000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2772136.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
        <cusip>46284VAL5</cusip>
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          <isin value="US46284VAL53"/>
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        <balance>474000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>404926.16000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
        <cusip>25470XAW5</cusip>
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          <isin value="US25470XAW56"/>
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        <balance>4425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4060007.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Scientific Games International, Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
        <title>Light &amp; Wonder International, Inc.</title>
        <cusip>80874YBC3</cusip>
        <identifiers>
          <isin value="US80874YBC30"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>438654.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>Clydesdale Acquisition Holdings, Inc.</title>
        <cusip>18972EAA3</cusip>
        <identifiers>
          <isin value="US18972EAA38"/>
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        <balance>1450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1317175.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>Clydesdale Acquisition Holdings, Inc.</title>
        <cusip>18972EAB1</cusip>
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          <isin value="US18972EAB11"/>
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        <balance>6159000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4909214.49000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>CVR Partners LP</name>
        <lei>N/A</lei>
        <title>CVR Partners LP</title>
        <cusip>12663QAC9</cusip>
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          <isin value="US12663QAC96"/>
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        <balance>2800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2471000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>Encino Acquisition Partners Holdings LLC</name>
        <lei>549300BUKUEKT2UE4T49</lei>
        <title>Encino Acquisition Partners Holdings LLC</title>
        <cusip>29254BAA5</cusip>
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          <isin value="US29254BAA52"/>
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        <balance>3770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3675750.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Resorts World Las Vegas LLC</name>
        <lei>N/A</lei>
        <title>Resorts World Las Vegas LLC</title>
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        <balance>2500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-27</maturityDt>
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          <annualizedRt>8.45000000</annualizedRt>
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      <invstOrSec>
        <name>Genesis Energy LP</name>
        <lei>N/A</lei>
        <title>Genesis Energy LP</title>
        <cusip>37185LAK8</cusip>
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        <balance>815000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>Beacon Roofing Supply, Inc.</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>Beacon Roofing Supply, Inc.</title>
        <cusip>073685AF6</cusip>
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          <isin value="US073685AF69"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Nabors Industries Ltd.</name>
        <lei>N/A</lei>
        <title>Nabors Industries Ltd.</title>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
        <cusip>25470XBB0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allied Universal Holdco LLC</name>
        <lei>N/A</lei>
        <title>Allied Universal Holdco LLC</title>
        <cusip>019576AB3</cusip>
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        <balance>3575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3105338.31000000</valUSD>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>BWX Technologies, Inc.</name>
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        <name>Nexstar Media, Inc.</name>
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        <name>Aptim Corp.</name>
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        <name>Trivium Packaging Finance BV</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>CGG SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sinclair Television Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cheplapharm Arzneimittel GmbH</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PetSmart, Inc.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Topaz Solar Farms LLC</name>
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        <name>CNX Resources Corp.</name>
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        <name>Olympus Water US Holding Corp.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Chesapeake Energy Corp.</name>
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        <name>Sinclair Television Group, Inc.</name>
        <lei>549300CQGEN0CH65UD62</lei>
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        <name>SNF Group SACA</name>
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      <invstOrSec>
        <name>Scripps Escrow II, Inc.</name>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Performance Food Group, Inc.</name>
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      <invstOrSec>
        <name>Clearwater Paper Corp.</name>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
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        <name>Frontier Communications Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Molina Healthcare, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kennedy-Wilson, Inc.</name>
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        <name>IHO Verwaltungs GmbH</name>
        <lei>529900JL0HDVGZMUJF32</lei>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Eagle Intermediate Global Holding BV</name>
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        <name>Holly Energy Partners LP</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>Macy's Retail Holdings LLC</name>
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        <name>Talen Energy Supply LLC</name>
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        <name>MGIC Investment Corp.</name>
        <lei>254900S8483WM4M98R28</lei>
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        <name>Martin Midstream Partners LP</name>
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        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Post Holdings, Inc.</name>
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      <invstOrSec>
        <name>Kohl's Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SeaWorld Parks &amp; Entertainment, Inc.</name>
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        <name>Ziff Davis, Inc.</name>
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        <name>Ingles Markets, Inc.</name>
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        <name>KB Home</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>Videotron Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Murphy Oil USA, Inc.</name>
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        <name>Necessity Retail REIT, Inc.</name>
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        <name>Consensus Cloud Solutions, Inc.</name>
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        <name>LFS Topco LLC</name>
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          <maturityDt>2026-10-15</maturityDt>
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        <name>PHH Mortgage Corp.</name>
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        <name>Enova International, Inc.</name>
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        <name>Arsenal AIC Parent LLC</name>
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        <name>NMI Holdings, Inc.</name>
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        <name>Parkland Corp.</name>
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        <title>Parkland Corp.</title>
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        <name>US Acute Care Solutions LLC</name>
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        <name>Venture Global Calcasieu Pass LLC</name>
        <lei>549300GKHS6RS20NLH85</lei>
        <title>Venture Global Calcasieu Pass LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Central Garden &amp; Pet Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Energean plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-30</maturityDt>
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      <invstOrSec>
        <name>Ladder Capital Finance Holdings LLLP</name>
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      <invstOrSec>
        <name>Service Properties Trust</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Hologic, Inc.</name>
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          <isin value="US436440AP62"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sotheby's</name>
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        <title>Sotheby's</title>
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        <balance>4000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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      <invstOrSec>
        <name>Shea Homes LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
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      <invstOrSec>
        <name>GCI LLC</name>
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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>WeWork Cos. LLC</name>
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        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
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        <name>Albertsons Cos., Inc.</name>
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          <maturityDt>2027-01-15</maturityDt>
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        <name>Manitowoc Co., Inc. (The)</name>
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        <name>Brookfield Property REIT, Inc.</name>
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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <name>Warrior Met Coal, Inc.</name>
        <lei>549300152B1S9YKBYV79</lei>
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        <name>Varex Imaging Corp.</name>
        <lei>549300CWYWPVCT8E9W67</lei>
        <title>Varex Imaging Corp.</title>
        <cusip>92214XAC0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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        <name>Northern Oil and Gas, Inc.</name>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ITT Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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      <invstOrSec>
        <name>GrafTech Global Enterprises, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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        <name>CTR Partnership LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-30</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>Alta Equipment Group, Inc.</name>
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        <name>Global Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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        <name>Gartner, Inc.</name>
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        <name>Mobius Merger Sub, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hughes Satellite Systems Corp.</name>
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        <name>Parkland Corp.</name>
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        <name>Compass Minerals International, Inc.</name>
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        <name>P&amp;L Development LLC</name>
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        <name>Berry Petroleum Co. LLC</name>
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        <name>Yum! Brands, Inc.</name>
        <lei>549300JE8XHZZ7OHN517</lei>
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        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>APX Group, Inc.</name>
        <lei>549300OMQVKPRU98OE64</lei>
        <title>APX Group, Inc.</title>
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        <balance>1000000.00000000</balance>
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        <valUSD>965410.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <name>DISH DBS Corp.</name>
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        <name>US Foods, Inc.</name>
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        <name>Buckeye Partners LP</name>
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        <name>News Corp.</name>
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        <name>Matador Resources Co.</name>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>Taylor Morrison Communities, Inc.</name>
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        <name>Penn Entertainment, Inc.</name>
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        <name>United Wholesale Mortgage LLC</name>
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        <name>Valvoline, Inc.</name>
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        <name>Hertz Corp. (The)</name>
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        <name>TMS International Corp.</name>
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        <name>Ford Motor Co.</name>
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        <name>OneMain Finance Corp.</name>
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        <name>Cogent Communications Group, Inc.</name>
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        <name>Paramount Global</name>
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        <name>Prime Security Services Borrower LLC</name>
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        <name>World Acceptance Corp.</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
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        <name>Mineral Resources Ltd.</name>
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        <name>TK Elevator US Newco, Inc.</name>
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        <name>Edgewell Personal Care Co.</name>
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        <name>Live Nation Entertainment, Inc.</name>
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        <name>Triumph Group, Inc.</name>
        <lei>5493007L6S47Q14SL582</lei>
        <title>Triumph Group, Inc.</title>
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        <name>Altice France SA</name>
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        <name>Avis Budget Car Rental LLC</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Minerals Technologies, Inc.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Xerox Corp.</name>
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        <name>Hecla Mining Co.</name>
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          <maturityDt>2028-02-15</maturityDt>
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        <name>RegionalCare Hospital Partners Holdings, Inc.</name>
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        <name>Wynn Resorts Finance LLC</name>
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        <name>Vital Energy, Inc.</name>
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        <name>Tempur Sealy International, Inc.</name>
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        <name>DISH Network Corp.</name>
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        <name>Seagate HDD Cayman</name>
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        <name>Bath &amp; Body Works, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Nationstar Mortgage Holdings, Inc.</title>
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        <name>FMG Resources August 2006 Pty. Ltd.</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>FMG Resources August 2006 Pty. Ltd.</title>
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      <invstOrSec>
        <name>Forestar Group, Inc.</name>
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        <name>Rocket Mortgage LLC</name>
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      <invstOrSec>
        <name>Embarq Corp.</name>
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        <name>Eldorado Gold Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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        <name>Teleflex, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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        <name>Zayo Group Holdings, Inc.</name>
        <lei>529900Z6OTS7RT0V0I47</lei>
        <title>Zayo Group Holdings, Inc.</title>
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        <name>Molina Healthcare, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Service Properties Trust</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Rockies Express Pipeline LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-15</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Emera, Inc.</name>
        <lei>NQZVQT2P5IUF2PGA1Q48</lei>
        <title>Emera, Inc., Series 16-A</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Venture Global Calcasieu Pass LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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        <name>Genesis Energy LP</name>
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        <name>Allegheny Ludlum LLC</name>
        <lei>KCBRRAMO64UL0JAYG446</lei>
        <title>Allegheny Ludlum LLC</title>
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        <name>Community Health Systems, Inc.</name>
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        <name>AECOM</name>
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        <name>NFP Corp.</name>
        <lei>VO2L9FZNXDJNQNEYH039</lei>
        <title>NFP Corp.</title>
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        <name>NESCO Holdings II, Inc.</name>
        <lei>254900FAHT0HW9T6L409</lei>
        <title>NESCO Holdings II, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Open Text Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Open Text Holdings, Inc.</title>
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        <name>Encompass Health Corp.</name>
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        <name>Bombardier, Inc.</name>
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        <name>Paramount Global</name>
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        <name>UPC Broadband Finco BV</name>
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        <name>Gulfport Energy Operating Corp.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Oceaneering International, Inc.</name>
        <lei>549300L6PH74701W0R30</lei>
        <title>Oceaneering International, Inc.</title>
        <cusip>675232AB8</cusip>
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          <isin value="US675232AB89"/>
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        <curCd>USD</curCd>
        <valUSD>394525.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP</title>
        <cusip>030981AL8</cusip>
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          <isin value="US030981AL88"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>459517.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lumen Technologies, Inc.</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>Lumen Technologies, Inc.</title>
        <cusip>156700BC9</cusip>
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          <isin value="US156700BC99"/>
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        <balance>4110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2774250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Yum! Brands, Inc.</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands, Inc.</title>
        <cusip>988498AN1</cusip>
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          <isin value="US988498AN16"/>
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        <balance>930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755180.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CD&amp;R Smokey Buyer, Inc.</name>
        <lei>N/A</lei>
        <title>CD&amp;R Smokey Buyer, Inc.</title>
        <cusip>12510CAA9</cusip>
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          <isin value="US12510CAA99"/>
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        <curCd>USD</curCd>
        <valUSD>1194750.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BellRing Brands, Inc.</name>
        <lei>549300S3BOK5CMTS8054</lei>
        <title>BellRing Brands, Inc.</title>
        <cusip>07831CAA1</cusip>
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          <isin value="US07831CAA18"/>
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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>2030-03-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CQP Holdco LP</name>
        <lei>N/A</lei>
        <title>CQP Holdco LP</title>
        <cusip>12657NAA8</cusip>
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          <isin value="US12657NAA81"/>
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        <balance>1365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1187209.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>N/A</lei>
        <title>Sunoco LP</title>
        <cusip>86765LAT4</cusip>
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          <isin value="US86765LAT44"/>
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        <balance>2305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1996664.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Office Properties Income Trust</name>
        <lei>N/A</lei>
        <title>Office Properties Income Trust</title>
        <cusip>67623CAD1</cusip>
        <identifiers>
          <isin value="US67623CAD11"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1051960.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ford Motor Co.</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co.</title>
        <cusip>345370DB3</cusip>
        <identifiers>
          <isin value="US345370DB39"/>
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        <balance>1495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1382798.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Teleflex, Inc.</name>
        <lei>UUL85LWXB4NGSWWXIQ25</lei>
        <title>Teleflex, Inc.</title>
        <cusip>879369AF3</cusip>
        <identifiers>
          <isin value="US879369AF39"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>503250.00000000</valUSD>
        <pctVal>0.041095395313</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cascades, Inc.</name>
        <lei>N/A</lei>
        <title>Cascades, Inc.</title>
        <cusip>14739LAA0</cusip>
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          <isin value="US14739LAA08"/>
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        <balance>190000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Allen Media LLC</name>
        <lei>N/A</lei>
        <title>Allen Media LLC</title>
        <cusip>01771YAA8</cusip>
        <identifiers>
          <isin value="US01771YAA82"/>
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        <balance>2145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1117126.98000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Vector Group Ltd.</name>
        <lei>549300TUIF4WWN6NDN50</lei>
        <title>Vector Group Ltd.</title>
        <cusip>92240MBL1</cusip>
        <identifiers>
          <isin value="US92240MBL19"/>
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        <balance>4675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3961675.41000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Turning Point Brands, Inc.</name>
        <lei>549300IYG00QF0VVP302</lei>
        <title>Turning Point Brands, Inc.</title>
        <cusip>90041LAF2</cusip>
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          <isin value="US90041LAF22"/>
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        <balance>270000.00000000</balance>
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        <valUSD>247725.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Rain Carbon, Inc.</name>
        <lei>25490038N6JQH7QXUK52</lei>
        <title>Rain Carbon, Inc.</title>
        <cusip>75079LAB7</cusip>
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          <isin value="US75079LAB71"/>
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        <balance>2400000.00000000</balance>
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        <valUSD>2442000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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          <annualizedRt>12.25000000</annualizedRt>
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      <invstOrSec>
        <name>FXI Holdings, Inc.</name>
        <lei>549300VLKCUZW3MSVS50</lei>
        <title>FXI Holdings, Inc.</title>
        <cusip>35166FAA0</cusip>
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        <balance>2745000.00000000</balance>
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        <valUSD>2272324.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US Foods, Inc.</name>
        <lei>5493000JOOFAOUY1JZ87</lei>
        <title>US Foods, Inc.</title>
        <cusip>90290MAE1</cusip>
        <identifiers>
          <isin value="US90290MAE12"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119546.87000000</valUSD>
        <pctVal>0.009762197478</pctVal>
        <payoffProfile>Long</payoffProfile>
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      <invstOrSec>
        <name>Holly Energy Partners LP</name>
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      <invstOrSec>
        <name>Forestar Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Covanta Holding Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-01</maturityDt>
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        <name>Iliad Holding SASU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SBA Communications Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altice France Holding SA</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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          <annualizedRt>10.50000000</annualizedRt>
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        <name>Hilton Grand Vacations Borrower Escrow LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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        <name>Michaels Cos., Inc. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
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        <name>Carriage Purchaser, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Howard Hughes Corp. (The)</name>
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        <name>Prestige Brands, Inc.</name>
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        <name>Wolverine World Wide, Inc.</name>
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        <name>Strathcona Resources Ltd.</name>
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        <invCountry>CA</invCountry>
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        <name>Crestwood Midstream Partners LP</name>
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        <name>Evergreen Acqco 1 LP</name>
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        <name>Precision Drilling Corp.</name>
        <lei>549300WF2OE8T5BP4B84</lei>
        <title>Precision Drilling Corp.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Altice France Holding SA</name>
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        <name>TransDigm, Inc.</name>
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        <name>Oriflame Investment Holding plc</name>
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        <name>Magnolia Oil &amp; Gas Operating LLC</name>
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        <name>Vmed O2 UK Financing I plc</name>
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        <name>Spirit Loyalty Cayman Ltd.</name>
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        <name>Herens Holdco Sarl</name>
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        <name>Element Solutions, Inc.</name>
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        <name>Patrick Industries, Inc.</name>
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      <invstOrSec>
        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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      <invstOrSec>
        <name>Icahn Enterprises LP</name>
        <lei>N/A</lei>
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        <cusip>451102BQ9</cusip>
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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>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>CommScope Technologies LLC</name>
        <lei>M4TWC4QDOKW45N7T6Y12</lei>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1472120.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Topaz Solar Farms LLC</name>
        <lei>N/A</lei>
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          <isin value="US89054XAC92"/>
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        <balance>1847991.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1675444.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NuStar Logistics LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NuStar Logistics LP</title>
        <cusip>67059TAH8</cusip>
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          <isin value="US67059TAH86"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175750.00000000</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>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>MPT Operating Partnership LP</name>
        <lei>N/A</lei>
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        <cusip>55342UAM6</cusip>
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          <isin value="US55342UAM62"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>363751.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
        <cusip>69331CAJ7</cusip>
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          <isin value="US69331CAJ71"/>
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        <balance>925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>810208.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albion Financing 1 SARL</name>
        <lei>N/A</lei>
        <title>Albion Financing 1 Sarl</title>
        <cusip>013304AA8</cusip>
        <identifiers>
          <isin value="US013304AA87"/>
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        <balance>2370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2192250.00000000</valUSD>
        <pctVal>0.179019136363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Mutual Group, Inc.</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group, Inc.</title>
        <cusip>53079EAN4</cusip>
        <identifiers>
          <isin value="US53079EAN40"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72103.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.80000000</annualizedRt>
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      <invstOrSec>
        <name>Prime Security Services Borrower LLC</name>
        <lei>N/A</lei>
        <title>Prime Security Services Borrower LLC</title>
        <cusip>74166MAC0</cusip>
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          <isin value="US74166MAC01"/>
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        <balance>2745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2662946.02000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>SK Invictus Intermediate II Sarl</name>
        <lei>N/A</lei>
        <title>SK Invictus Intermediate II Sarl</title>
        <cusip>29977LAA9</cusip>
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          <isin value="US29977LAA98"/>
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        <balance>3587000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2708482.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grand Canyon University</name>
        <lei>N/A</lei>
        <title>Grand Canyon University</title>
        <cusip>38528UAD8</cusip>
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          <isin value="US38528UAD81"/>
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        <balance>500000.00000000</balance>
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        <valUSD>478750.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Knife River Corp.</name>
        <lei>N/A</lei>
        <title>Knife River Corp.</title>
        <cusip>498894AA2</cusip>
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          <isin value="US498894AA29"/>
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        <balance>120000.00000000</balance>
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        <valUSD>119552.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <name>Crowdstrike Holdings, Inc.</name>
        <lei>549300YBY08K9KM4HX32</lei>
        <title>Crowdstrike Holdings, Inc.</title>
        <cusip>22788CAA3</cusip>
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          <isin value="US22788CAA36"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417934.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Acadia Healthcare Co., Inc.</name>
        <lei>5493005CW985Y9D0NC11</lei>
        <title>Acadia Healthcare Co., Inc.</title>
        <cusip>00404AAN9</cusip>
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        <balance>630000.00000000</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>2028-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>46115HBQ9</cusip>
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          <isin value="US46115HBQ92"/>
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        <balance>590000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
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      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
        <title>Antero Midstream Partners LP</title>
        <cusip>03690AAD8</cusip>
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          <isin value="US03690AAD81"/>
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        <balance>1464000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1399251.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Legacy LifePoint Health LLC</name>
        <lei>N/A</lei>
        <title>Legacy LifePoint Health LLC</title>
        <cusip>53219LAS8</cusip>
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          <isin value="US53219LAS88"/>
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        <name>United Airlines, Inc.</name>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <name>Altice France SA</name>
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        <name>Affinity Interactive</name>
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        <name>Victoria's Secret &amp; Co.</name>
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        <name>Newell Brands, Inc.</name>
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        <name>NFP Corp.</name>
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        <name>Gap, Inc. (The)</name>
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        <name>Jazz Securities DAC</name>
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        <name>Fertitta Entertainment LLC</name>
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        <name>Heartland Dental LLC</name>
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        <name>UPC Holding BV</name>
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        <name>At Home Group, Inc.</name>
        <lei>549300LGPR0P05O30I24</lei>
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        <name>PetSmart, Inc.</name>
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        <title>PetSmart, Inc.</title>
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      <invstOrSec>
        <name>Nationstar Mortgage Holdings, Inc.</name>
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      <invstOrSec>
        <name>GFL Environmental, Inc.</name>
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        <name>AHP Health Partners, Inc.</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Intelsat Jackson Holdings SA</name>
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        <name>Cobra AcquisitionCo LLC</name>
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        <name>Terex Corp.</name>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Kennedy-Wilson, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Garda World Security Corp.</name>
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        <name>Primo Water Holdings, Inc.</name>
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        <name>Encompass Health Corp.</name>
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        <name>Synchrony Financial</name>
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        <name>Kedrion SpA</name>
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        <name>Air Canada</name>
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        <name>Imola Merger Corp.</name>
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        <name>Science Applications International Corp.</name>
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        <name>99 Escrow Issuer, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>DT Midstream, Inc.</name>
        <lei>N/A</lei>
        <title>DT Midstream, Inc.</title>
        <cusip>23345MAB3</cusip>
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          <isin value="US23345MAB37"/>
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        <balance>545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>452600.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Valaris Ltd.</name>
        <lei>N/A</lei>
        <title>Valaris Ltd.</title>
        <cusip>91889FAC5</cusip>
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          <isin value="US91889FAC59"/>
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        <balance>5885000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5774656.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Global Medical Response, Inc.</name>
        <lei>549300ZFWD4ZFCEJCQ87</lei>
        <title>Global Medical Response, Inc.</title>
        <cusip>37960BAA3</cusip>
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          <isin value="US37960BAA35"/>
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        <balance>3180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2019300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SWF Escrow Issuer Corp.</name>
        <lei>N/A</lei>
        <title>SWF Escrow Issuer Corp.</title>
        <cusip>78500AAA6</cusip>
        <identifiers>
          <isin value="US78500AAA60"/>
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        <balance>1965000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1164015.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASP Unifrax Holdings, Inc.</name>
        <lei>549300RRU6BWJLD0YT71</lei>
        <title>ASP Unifrax Holdings, Inc.</title>
        <cusip>90473LAC6</cusip>
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          <isin value="US90473LAC63"/>
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        <balance>2414000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1291490.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NextEra Energy Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>NextEra Energy Operating Partners LP</title>
        <cusip>65342QAL6</cusip>
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          <isin value="US65342QAL68"/>
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        <balance>1010000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>918311.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Virgin Media Secured Finance plc</name>
        <lei>213800X3RLP4NOTPY579</lei>
        <title>Virgin Media Secured Finance plc</title>
        <cusip>92769XAR6</cusip>
        <identifiers>
          <isin value="US92769XAR61"/>
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        <balance>805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>663770.80000000</valUSD>
        <pctVal>0.054203523940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Consensus Cloud Solutions, Inc.</name>
        <lei>N/A</lei>
        <title>Consensus Cloud Solutions, Inc.</title>
        <cusip>20848VAB1</cusip>
        <identifiers>
          <isin value="US20848VAB18"/>
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        <balance>1710000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1417162.50000000</valUSD>
        <pctVal>0.115725490631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Uniti Group LP</name>
        <lei>N/A</lei>
        <title>Uniti Group LP</title>
        <cusip>91327TAA9</cusip>
        <identifiers>
          <isin value="US91327TAA97"/>
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        <balance>5655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5445504.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CH3</cusip>
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          <isin value="US629377CH34"/>
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        <balance>1380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1217519.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
        <cusip>82967NBJ6</cusip>
        <identifiers>
          <isin value="US82967NBJ63"/>
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        <balance>1695000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1441482.68000000</valUSD>
        <pctVal>0.117711476545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Raptor Acquisition Corp.</name>
        <lei>N/A</lei>
        <title>Raptor Acquisition Corp.</title>
        <cusip>75383KAA2</cusip>
        <identifiers>
          <isin value="US75383KAA25"/>
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        <balance>385000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358242.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Genesis Energy LP</name>
        <lei>N/A</lei>
        <title>Genesis Energy LP</title>
        <cusip>37185LAN2</cusip>
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          <isin value="US37185LAN29"/>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>497853.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Acadia Healthcare Co., Inc.</name>
        <lei>5493005CW985Y9D0NC11</lei>
        <title>Acadia Healthcare Co., Inc.</title>
        <cusip>00404AAP4</cusip>
        <identifiers>
          <isin value="US00404AAP49"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133742.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
        <cusip>737446AR5</cusip>
        <identifiers>
          <isin value="US737446AR57"/>
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        <balance>1040000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>841500.50000000</valUSD>
        <pctVal>0.068716931353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PennyMac Financial Services, Inc.</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PennyMac Financial Services, Inc.</title>
        <cusip>70932MAC1</cusip>
        <identifiers>
          <isin value="US70932MAC10"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4076.68000000</valUSD>
        <pctVal>0.000332901691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRA Group, Inc.</name>
        <lei>549300Q5HW3JSSB86K27</lei>
        <title>PRA Group, Inc.</title>
        <cusip>69354NAC0</cusip>
        <identifiers>
          <isin value="US69354NAC02"/>
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        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107525.00000000</valUSD>
        <pctVal>0.008780491566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
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        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Boise Cascade Co.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Jaguar Land Rover Automotive plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FMG Resources August 2006 Pty. Ltd.</name>
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        <name>Iron Mountain Information Management Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VM Consolidated, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Yum! Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Advantage Sales &amp; Marketing, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carnival Corp.</name>
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        <name>Aethon United BR LP</name>
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        <name>Mattamy Group Corp.</name>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>Midcap Financial Issuer Trust</name>
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        <name>MPT Operating Partnership LP</name>
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        <name>Performance Food Group, Inc.</name>
        <lei>549300OMUOGBYK0FFO76</lei>
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        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
        <cusip>02156LAE1</cusip>
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        <balance>935000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CommScope, Inc.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Hertz Corp. (The)</name>
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        <name>Chemours Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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        <name>Athabasca Oil Corp.</name>
        <lei>549300STK2KBVO6WED71</lei>
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        <name>Univision Communications, Inc.</name>
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        <name>Central Garden &amp; Pet Co.</name>
        <lei>5493004DVZLD37DJ0H83</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-30</maturityDt>
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        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>CNX Midstream Partners LP</name>
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          <maturityDt>2030-04-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Baytex Energy Corp.</name>
        <lei>549300R5LTV2H7I1I079</lei>
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          <maturityDt>2027-04-01</maturityDt>
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        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
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          <maturityDt>2027-04-15</maturityDt>
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        <name>Jefferies Finance LLC</name>
        <lei>N/A</lei>
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        <name>Steelcase, Inc.</name>
        <lei>GIE4CCPBJDI8SMV1OX95</lei>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <name>Avantor Funding, Inc.</name>
        <lei>5493003VM0XB4U8YD238</lei>
        <title>Avantor Funding, Inc.</title>
        <cusip>05352TAA7</cusip>
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      <invstOrSec>
        <name>Ford Holdings LLC</name>
        <lei>N/A</lei>
        <title>Ford Holdings LLC</title>
        <cusip>345277AE7</cusip>
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        <balance>640000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.30000000</annualizedRt>
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        <name>Ziggo Bond Co. BV</name>
        <lei>213800JYI4P7V5QDOG59</lei>
        <title>Ziggo Bond Co. BV</title>
        <cusip>98953GAD7</cusip>
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      <invstOrSec>
        <name>Intelligent Packaging Ltd. Finco, Inc.</name>
        <lei>N/A</lei>
        <title>Intelligent Packaging Ltd. Finco, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NuStar Logistics LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Open Text Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Open Text Holdings, Inc.</title>
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          <isin value="US683720AC08"/>
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        <curCd>USD</curCd>
        <valUSD>274931.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Rogers Communications, Inc.</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications, Inc.</title>
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          <isin value="US775109BS95"/>
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        <curCd>USD</curCd>
        <valUSD>1112851.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2082-03-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
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          <isin value="US28470RAK86"/>
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        <balance>489000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>484537.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>8.12500000</annualizedRt>
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      <invstOrSec>
        <name>United Wholesale Mortgage LLC</name>
        <lei>549300HW662MN1WU8550</lei>
        <title>United Wholesale Mortgage LLC</title>
        <cusip>91153LAA5</cusip>
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          <isin value="US91153LAA52"/>
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        <balance>445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422965.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INEOS Quattro Finance 2 plc</name>
        <lei>213800V48W4Y5MT5Q131</lei>
        <title>INEOS Quattro Finance 2 plc</title>
        <cusip>45674GAA2</cusip>
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          <isin value="US45674GAA22"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>248300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Altice Financing SA</name>
        <lei>549300DIYGW8HVDF7Q17</lei>
        <title>Altice Financing SA</title>
        <cusip>02154CAH6</cusip>
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          <isin value="US02154CAH60"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3093231.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Credit Acceptance Corp.</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Corp.</title>
        <cusip>225310AM3</cusip>
        <identifiers>
          <isin value="US225310AM36"/>
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        <balance>865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>821318.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Hunt Cos., Inc.</name>
        <lei>549300ODPWDNCH5TKM49</lei>
        <title>Hunt Cos., Inc.</title>
        <cusip>445587AE8</cusip>
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        <balance>2035000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1604502.06000000</valUSD>
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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>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>FMG Resources August 2006 Pty. Ltd.</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>FMG Resources August 2006 Pty. Ltd.</title>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225102.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Allied Universal Holdco LLC</name>
        <lei>N/A</lei>
        <title>Allied Universal Holdco LLC</title>
        <cusip>049362AA4</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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      <invstOrSec>
        <name>Belo Corp.</name>
        <lei>N/A</lei>
        <title>Belo Corp.</title>
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        <balance>625000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Interface, Inc.</name>
        <lei>549300VXZWQOIDFPU355</lei>
        <title>Interface, Inc.</title>
        <cusip>458665AS5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Archrock Partners LP</name>
        <lei>N/A</lei>
        <title>Archrock Partners LP</title>
        <cusip>03959KAA8</cusip>
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          <isin value="US03959KAA88"/>
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        <invCountry>US</invCountry>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BL0</cusip>
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          <isin value="US893647BL01"/>
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        <balance>5580000.00000000</balance>
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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>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Jaguar Land Rover Automotive plc</name>
        <lei>529900L73GEWN1O5NH84</lei>
        <title>Jaguar Land Rover Automotive plc</title>
        <cusip>47010BAM6</cusip>
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          <isin value="US47010BAM63"/>
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        <balance>2807000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2419581.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lumen Technologies, Inc.</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>Lumen Technologies, Inc.</title>
        <cusip>156700BB1</cusip>
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        <balance>1810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>888898.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>PBF Holding Co. LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DIRECTV Holdings LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allegiant Travel Co.</name>
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          <isin value="US01748XAD49"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Upbound Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Cornerstone Building Brands, Inc.</name>
        <lei>549300IW41QEWQ6T0H29</lei>
        <title>Cornerstone Building Brands, Inc.</title>
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          <isin value="US21925DAA72"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Resideo Funding, Inc.</name>
        <lei>5493000IFJ6XJKH66598</lei>
        <title>Resideo Funding, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>MIWD Holdco II LLC</name>
        <lei>N/A</lei>
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          <isin value="US55337PAA03"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>SCIL IV LLC</name>
        <lei>N/A</lei>
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          <isin value="US78397UAA88"/>
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        <balance>1380000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TEGNA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Calderys Financing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Airlines, Inc.</name>
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        <name>AmeriGas Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Grand Canyon University</name>
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        <name>AdaptHealth LLC</name>
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        <name>F-Brasile SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
        <cusip>904678AS8</cusip>
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        <name>SM Energy Co.</name>
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        <name>Delek Logistics Partners LP</name>
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        <name>Uber Technologies, Inc.</name>
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        <name>Gray Escrow II, Inc.</name>
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        <name>Boyd Gaming Corp.</name>
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        <name>GFL Environmental, Inc.</name>
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        <name>Macy's Retail Holdings LLC</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Clarivate Science Holdings Corp.</name>
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        <name>Sigma Holdco BV</name>
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        <name>CVR Energy, Inc.</name>
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        <name>Papa John's International, Inc.</name>
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        <name>Rackspace Technology Global, Inc.</name>
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        <name>Northwest Fiber LLC</name>
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        <name>Ithaca Energy North Sea plc</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Triumph Group, Inc.</name>
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        <name>Las Vegas Sands Corp.</name>
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        <name>Intesa Sanpaolo SpA</name>
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        <name>Cloud Software Group, Inc.</name>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
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        <name>Prime Healthcare Services, Inc.</name>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
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        <name>Empire Communities Corp.</name>
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        <name>CMG Media Corp.</name>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <name>ACProducts Holdings, Inc.</name>
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        <name>Veritas US, Inc.</name>
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        <name>Bausch Health Americas, Inc.</name>
        <lei>KOO0397YRO83WY5MGD97</lei>
        <title>Bausch Health Americas, Inc.</title>
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        <name>Churchill Downs, Inc.</name>
        <lei>529900FODTBQC8MIS994</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gannett Holdings LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Hudbay Minerals, Inc.</name>
        <lei>549300WI524AL577IX21</lei>
        <title>Hudbay Minerals, Inc.</title>
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          <isin value="US443628AJ11"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
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        <balance>7795000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-01</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Shea Homes LP</name>
        <lei>N/A</lei>
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          <isin value="US82088KAK43"/>
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        <curCd>USD</curCd>
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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>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>CoreLogic, Inc.</name>
        <lei>54930086CD8K2UIL0516</lei>
        <title>CoreLogic, Inc.</title>
        <cusip>21871DAD5</cusip>
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          <isin value="US21871DAD57"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3170000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Gap, Inc. (The)</name>
        <lei>T2ZG1WRWZ4BUCMQL9224</lei>
        <title>Gap, Inc. (The)</title>
        <cusip>364760AP3</cusip>
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          <isin value="US364760AP35"/>
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        <balance>2290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1749619.77000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>TPC Group, Inc.</name>
        <lei>549300K276KVW5JD1583</lei>
        <title>TPC Group, Inc.</title>
        <cusip>89236YAG9</cusip>
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          <isin value="US89236YAG98"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1995760.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>13.00000000</annualizedRt>
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        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
        <cusip>432833AJ0</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>215198.86000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>Staples, Inc.</name>
        <lei>XQM2JINI1UL7642TU573</lei>
        <title>Staples, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>NGL Energy Partners LP</name>
        <lei>N/A</lei>
        <title>NGL Energy Partners LP</title>
        <cusip>62913TAP7</cusip>
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        <balance>859000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Belo Corp.</name>
        <lei>N/A</lei>
        <title>Belo Corp.</title>
        <cusip>080555AF2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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        <name>LSF9 Atlantis Holdings LLC</name>
        <lei>N/A</lei>
        <title>LSF9 Atlantis Holdings LLC</title>
        <cusip>50220MAA8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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          <annualizedRt>7.75000000</annualizedRt>
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        <name>Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc</name>
        <lei>N/A</lei>
        <title>Rocket Mortgage LLC</title>
        <cusip>74841CAA9</cusip>
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        <balance>694000.00000000</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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        <name>ADT Security Corp. (The)</name>
        <lei>5493009JEEDYLVRA0J13</lei>
        <title>ADT Security Corp. (The)</title>
        <cusip>00109LAA1</cusip>
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        <balance>755000.00000000</balance>
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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>2029-08-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Millennium Escrow Corp.</name>
        <lei>N/A</lei>
        <title>Millennium Escrow Corp.</title>
        <cusip>60041CAA6</cusip>
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          <isin value="US60041CAA62"/>
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        <balance>4235000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Jefferson Capital Holdings LLC</name>
        <lei>N/A</lei>
        <title>Jefferson Capital Holdings LLC</title>
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        <name>Scripps Escrow, Inc.</name>
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        <name>Sizzling Platter LLC</name>
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        <name>TEGNA, Inc.</name>
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        <name>Interpipe Holdings plc</name>
        <lei>2221001V14OZZ8CANJ37</lei>
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        <name>Albion Financing 2 Sarl</name>
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        <name>Energizer Holdings, Inc.</name>
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        <title>Energizer Holdings, Inc.</title>
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        <name>Ladder Capital Finance Holdings LLLP</name>
        <lei>N/A</lei>
        <title>Ladder Capital Finance Holdings LLLP</title>
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        <name>Five Point Operating Co. LP</name>
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          <maturityDt>2025-11-15</maturityDt>
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        <name>Moss Creek Resources Holdings, Inc.</name>
        <lei>54930037SLMSPWKYIX36</lei>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
        <lei>N/A</lei>
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        <name>ADT Security Corp. (The)</name>
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        <name>Likewize Corp.</name>
        <lei>TF9O1XIG83ZLXX7WN472</lei>
        <title>Likewize Corp.</title>
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        <name>SunCoke Energy, Inc.</name>
        <lei>1KF1J2NXQE2PI0QOB943</lei>
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        <name>Wabash National Corp.</name>
        <lei>5299004ZAWHQZI5XO485</lei>
        <title>Wabash National Corp.</title>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>RHP Hotel Properties LP</name>
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        <title>RHP Hotel Properties LP</title>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Murphy Oil USA, Inc.</name>
        <lei>N32S6DTR2ZZ5222WHV58</lei>
        <title>Murphy Oil USA, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Edison International</name>
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        <name>XHR LP</name>
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      <invstOrSec>
        <name>Kaiser Aluminum Corp.</name>
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        <name>Polar US Borrower LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNX Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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        <name>Option Care Health, Inc.</name>
        <lei>549300DI3Q5ACSYJRI17</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Moss Creek Resources Holdings, Inc.</name>
        <lei>54930037SLMSPWKYIX36</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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      <invstOrSec>
        <name>Altice Financing SA</name>
        <lei>549300DIYGW8HVDF7Q17</lei>
        <title>Altice Financing SA</title>
        <cusip>02154CAF0</cusip>
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          <isin value="US02154CAF05"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>ATI, Inc.</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>HB Fuller Co.</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
        <title>HB Fuller Co.</title>
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        <balance>295000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-10-15</maturityDt>
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        <name>Vermilion Energy, Inc.</name>
        <lei>WT03B8BB1IX8WI9ZGV02</lei>
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        <invCountry>CA</invCountry>
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        <name>Gray Television, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Television, Inc.</title>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
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        <invCountry>GB</invCountry>
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        <name>CWT Travel Group, Inc.</name>
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        <name>Bath &amp; Body Works, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>Bath &amp; Body Works, Inc.</title>
        <cusip>532716AK3</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
        <cusip>87470LAK7</cusip>
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        <name>Griffon Corp.</name>
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        <name>Eco Material Technologies, Inc.</name>
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        <name>Weatherford International Ltd.</name>
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        <name>Trivium Packaging Finance BV</name>
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        <name>Brightsphere Investment Group, Inc.</name>
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        <name>iHeartCommunications, Inc.</name>
        <lei>54930076J6KDZL504O62</lei>
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      <invstOrSec>
        <name>DT Midstream, Inc.</name>
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      <invstOrSec>
        <name>Arcosa, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
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        <name>Brand Industrial Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NOVA Chemicals Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KBR, Inc.</name>
        <lei>254900OFQDXZRKRCV808</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-30</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>USA Compression Partners LP</name>
        <lei>N/A</lei>
        <title>USA Compression Partners LP</title>
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        <balance>2313000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2216102.49000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>AMC Networks, Inc.</name>
        <lei>549300VGG9K75226LR46</lei>
        <title>AMC Networks, Inc.</title>
        <cusip>00164VAF0</cusip>
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        <curCd>USD</curCd>
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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>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>Windsor Holdings III LLC</name>
        <lei>254900IXUJZ9H146T437</lei>
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        <balance>4000000.00000000</balance>
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        <valUSD>3893866.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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        <name>Macy's Retail Holdings LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.70000000</annualizedRt>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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        <name>Weekley Homes LLC</name>
        <lei>N/A</lei>
        <title>Weekley Homes LLC</title>
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        <invCountry>US</invCountry>
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        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
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        <balance>1005000.00000000</balance>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>ION Trading Technologies Sarl</name>
        <lei>5493009ZVXOKZLQ6QJ12</lei>
        <title>ION Trading Technologies Sarl</title>
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        <invCountry>LU</invCountry>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-30</maturityDt>
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      <invstOrSec>
        <name>Covanta Holding Corp.</name>
        <lei>40XIFLS8XDQGGHGPGC04</lei>
        <title>Covanta Holding Corp.</title>
        <cusip>22282EAJ1</cusip>
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        <balance>460000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Titan International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Level 3 Financing, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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          <isin value="US92332YAB74"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
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        <name>Rakuten Group, Inc.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Antero Midstream Partners LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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        <name>Amsted Industries, Inc.</name>
        <lei>N2VLGYMEEBIU3PFSUY86</lei>
        <title>Amsted Industries, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Crane NXT Co.</name>
        <lei>549300EXNPSXEWUD3N21</lei>
        <title>Crane NXT Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>Emerald Debt Merger Sub LLC</name>
        <lei>98450099EE3A0ZD5F786</lei>
        <title>Emerald Debt Merger Sub LLC</title>
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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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          <annualizedRt>6.62500000</annualizedRt>
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        <name>Michaels Cos., Inc. (The)</name>
        <lei>549300H9LWMBP7HYLR98</lei>
        <title>Michaels Cos., Inc. (The)</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Suburban Propane Partners LP</name>
        <lei>N/A</lei>
        <title>Suburban Propane Partners LP</title>
        <cusip>864486AL9</cusip>
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        <name>Cinemark USA, Inc.</name>
        <lei>54930008H2137JSCPQ09</lei>
        <title>Cinemark USA, Inc.</title>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Chemours Co. (The)</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>Chemours Co. (The)</title>
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        <invCountry>US</invCountry>
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        <name>Adient Global Holdings Ltd.</name>
        <lei>213800VA38VCKE6M8790</lei>
        <title>Adient Global Holdings Ltd.</title>
        <cusip>00687YAC9</cusip>
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        <balance>350000.00000000</balance>
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        <invCountry>JE</invCountry>

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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <invCountry>US</invCountry>
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        <name>United Airlines, Inc.</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Hillenbrand, Inc.</name>
        <lei>U246OE781574J2BUD366</lei>
        <title>Hillenbrand, Inc.</title>
        <cusip>431571AB4</cusip>
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        <balance>660000.00000000</balance>
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        <valUSD>632979.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NGL Energy Operating LLC</name>
        <lei>N/A</lei>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Cornerstone Chemical Co.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Service Properties Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prime Security Services Borrower LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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        <name>Bombardier, Inc.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Urban One, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
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        <name>Park Intermediate Holdings LLC</name>
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          <maturityDt>2029-05-15</maturityDt>
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        <name>Rackspace Technology Global, Inc.</name>
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        <name>StoneMor, Inc.</name>
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        <name>Antero Midstream Partners LP</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Yum! Brands, Inc.</name>
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        <name>Gray Television, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
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        <name>IHO Verwaltungs GmbH</name>
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        <name>Sinclair Television Group, Inc.</name>
        <lei>549300CQGEN0CH65UD62</lei>
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        <name>Rocket Mortgage LLC</name>
        <lei>N/A</lei>
        <title>Rocket Mortgage LLC</title>
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        <balance>630000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
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        <name>Callon Petroleum Co.</name>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>RP Escrow Issuer LLC</name>
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        <name>Ashton Woods USA LLC</name>
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        <name>Northriver Midstream Finance LP</name>
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        <name>Oxford Finance LLC</name>
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        <name>SCIH Salt Holdings, Inc.</name>
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        <name>Northern Oil and Gas, Inc.</name>
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        <name>Rithm Capital Corp.</name>
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        <name>Connect Finco SARL</name>
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        <name>Texas Capital Bancshares, Inc.</name>
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        <name>Deluxe Corp.</name>
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        <name>Toledo Hospital (The)</name>
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        <name>Iris Holding, Inc.</name>
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        <name>JB Poindexter &amp; Co., Inc.</name>
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        <name>Civitas Resources, Inc.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Cinemark USA, Inc.</name>
        <lei>54930008H2137JSCPQ09</lei>
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      <invstOrSec>
        <name>Masonite International Corp.</name>
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        <name>WR Grace Holdings LLC</name>
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        <name>Installed Building Products, Inc.</name>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <name>First Student Bidco, Inc.</name>
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        <name>Hologic, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilcorp Energy I LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chemours Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lumen Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Allied Universal Holdco LLC</name>
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        <name>Ohio National Financial Services, Inc.</name>
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        <title>Constellation Insurance, Inc.</title>
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        <name>Domtar Corp.</name>
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        <name>Teine Energy Ltd.</name>
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        <name>GPD Cos., Inc.</name>
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        <name>Neptune Bidco US, Inc.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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      <invstOrSec>
        <name>Ashland, Inc.</name>
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      <invstOrSec>
        <name>goeasy Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Zayo Group Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
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        <name>Murphy Oil Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Noble Finance II LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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          <annualizedRt>8.00000000</annualizedRt>
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        <name>Louisiana-Pacific Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>HealthEquity, Inc.</name>
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        <name>Camelot Finance SA</name>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
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        <name>PROG Holdings, Inc.</name>
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        <name>Tenneco, Inc.</name>
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        <name>Spirit Loyalty Cayman Ltd.</name>
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        <name>Comstock Resources, Inc.</name>
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        <name>Wyndham Destinations, Inc.</name>
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        <name>Freedom Mortgage Corp.</name>
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        <name>Six Flags Entertainment Corp.</name>
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        <title>Six Flags Entertainment Corp.</title>
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        <name>Rockies Express Pipeline LLC</name>
        <lei>W2ZGZGZKY5GGNY6F3V51</lei>
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      <invstOrSec>
        <name>Ford Motor Co.</name>
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        <name>Macy's Retail Holdings LLC</name>
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        <name>Global Infrastructure Solutions, Inc.</name>
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        <name>Jaguar Land Rover Automotive plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Radiate Holdco LLC</name>
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        <name>GYP Holdings III Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Venture Global Calcasieu Pass LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Assurant, Inc.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Specialty Building Products Holdings LLC</name>
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        <name>CoreCivic, Inc.</name>
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        <name>Beacon Roofing Supply, Inc.</name>
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        <name>TransAlta Corp.</name>
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        <name>Ken Garff Automotive LLC</name>
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        <name>Bausch Health Americas, Inc.</name>
        <lei>KOO0397YRO83WY5MGD97</lei>
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        <name>Life Time, Inc.</name>
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        <name>EnQuest plc</name>
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        <title>EnQuest plc</title>
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        <name>Seadrill Finance Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Liberty Mutual Group, Inc.</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
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        <name>Crescent Energy Finance LLC</name>
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        <name>Murphy Oil USA, Inc.</name>
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        <name>Realogy Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cimpress plc</name>
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        <invCountry>IE</invCountry>
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        <name>Compass Group Diversified Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>American Airlines, Inc.</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>Baffinland Iron Mines Corp.</name>
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        <invCountry>CA</invCountry>
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        <name>SM Energy Co.</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>Nexstar Media, Inc.</name>
        <lei>5493006PK6I4I2OOT688</lei>
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        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
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      <invstOrSec>
        <name>Murphy Oil Corp.</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
        <title>Murphy Oil Corp.</title>
        <cusip>626717AA0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Lamar Media Corp.</name>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
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        <name>Allied Universal Holdco LLC</name>
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        <name>BlueLinx Holdings, Inc.</name>
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        <name>OT Merger Corp.</name>
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        <name>TopBuild Corp.</name>
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        <name>Clearway Energy Operating LLC</name>
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        <name>TreeHouse Foods, Inc.</name>
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        <name>Arko Corp.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Foot Locker, Inc.</name>
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        <name>LifePoint Health, Inc.</name>
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        <name>Hughes Satellite Systems Corp.</name>
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        <name>Icahn Enterprises LP</name>
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        <name>Ford Motor Co.</name>
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        <name>Vmed O2 UK Financing I plc</name>
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        <name>Adtalem Global Education, Inc.</name>
        <lei>549300Z467EZLMODV621</lei>
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        <name>Leeward Renewable Energy Operations LLC</name>
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        <name>Virgin Media Vendor Financing Notes IV DAC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Midwest Gaming Borrower LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
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          <isin value="US603051AC70"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Global Partners LP</name>
        <lei>N/A</lei>
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          <isin value="US37954FAJ30"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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      <invstOrSec>
        <name>QVC, Inc.</name>
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        <title>QVC, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
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          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>ASGN, Inc.</name>
        <lei>LZBNYYCBUKY537072438</lei>
        <title>ASGN, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>ZipRecruiter, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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        <name>American Builders &amp; Contractors Supply Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>TerraForm Power Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>DISH DBS Corp.</name>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>BCPE Ulysses Intermediate, Inc.</name>
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        <name>Parkland Corp.</name>
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        <name>Sunoco LP</name>
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        <name>Staples, Inc.</name>
        <lei>XQM2JINI1UL7642TU573</lei>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
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        <name>ModivCare, Inc.</name>
        <lei>549300EFZIFW7F7I0Q28</lei>
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        <name>Kennedy-Wilson, Inc.</name>
        <lei>5EA4464UK7FM5QNNKL62</lei>
        <title>Kennedy-Wilson, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Alteryx, Inc.</name>
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        <name>Simmons Foods, Inc.</name>
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        <name>Brundage-Bone Concrete Pumping Holdings, Inc.</name>
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        <name>Xerox Holdings Corp.</name>
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        <name>Virgin Media Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Olympus Water US Holding Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Sealed Air Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Travel + Leisure Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-31</maturityDt>
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        <name>Gartner, Inc.</name>
        <lei>PP55B5R38BFB8O8HH686</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>PBF Holding Co. LLC</name>
        <lei>N/A</lei>
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        <name>CP Atlas Buyer, Inc.</name>
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        <name>Global Net Lease, Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
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        <name>IHO Verwaltungs GmbH</name>
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        <name>Ascent Resources Utica Holdings LLC</name>
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        <name>JELD-WEN, Inc.</name>
        <lei>549300XWE6NM0N1HFW16</lei>
        <title>JELD-WEN, Inc.</title>
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        <name>180 Medical, Inc.</name>
        <lei>254900ZB648OPWVFVX59</lei>
        <title>180 Medical, Inc.</title>
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        <name>Taylor Morrison Communities, Inc.</name>
        <lei>549300O1Z08HI2MRK572</lei>
        <title>Taylor Morrison Communities, Inc.</title>
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        <name>Genting New York LLC</name>
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      <invstOrSec>
        <name>Townsquare Media, Inc.</name>
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        <name>Telesat Canada</name>
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      <invstOrSec>
        <name>Travel + Leisure Co.</name>
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        <name>Radiology Partners, Inc.</name>
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        <name>Cedar Fair LP</name>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Pactiv LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-15</maturityDt>
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        <name>C&amp;S Group Enterprises LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Open Text Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>APX Group, Inc.</name>
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        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
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        <name>Thor Industries, Inc.</name>
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        <name>NFP Corp.</name>
        <lei>VO2L9FZNXDJNQNEYH039</lei>
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        <name>Cable One, Inc.</name>
        <lei>549300648QS85T0XSH18</lei>
        <title>Cable One, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Uniti Group LP</name>
        <lei>N/A</lei>
        <title>Uniti Group LP</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
        <cusip>46284VAJ0</cusip>
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          <isin value="US46284VAJ08"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Frontier Communications Holdings LLC</name>
        <lei>N/A</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>2029-05-01</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>TEGNA, Inc.</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA, Inc.</title>
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          <isin value="US87901JAJ43"/>
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        <balance>1967000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>780153BG6</cusip>
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          <isin value="US780153BG60"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Comstock Resources, Inc.</name>
        <lei>I03QQGEA4SS774AURI46</lei>
        <title>Comstock Resources, Inc.</title>
        <cusip>205768AT1</cusip>
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          <isin value="US205768AT12"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Edgewell Personal Care Co.</name>
        <lei>549300CY8QZDL4Z3RU59</lei>
        <title>Edgewell Personal Care Co.</title>
        <cusip>28035QAA0</cusip>
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          <isin value="US28035QAA04"/>
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        <curCd>USD</curCd>
        <valUSD>1277731.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Camelot Return Merger Sub, Inc.</name>
        <lei>N/A</lei>
        <title>Camelot Return Merger Sub, Inc.</title>
        <cusip>13323NAA0</cusip>
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          <isin value="US13323NAA00"/>
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        <curCd>USD</curCd>
        <valUSD>1797430.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>CNX Resources Corp.</name>
        <lei>549300JK3KH8PWM3B226</lei>
        <title>CNX Resources Corp.</title>
        <cusip>12653CAK4</cusip>
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          <isin value="US12653CAK45"/>
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        <balance>1070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1022359.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LGI Homes, Inc.</name>
        <lei>549300W02B4WNV8CV109</lei>
        <title>LGI Homes, Inc.</title>
        <cusip>50187TAF3</cusip>
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          <isin value="US50187TAF30"/>
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        <balance>1115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>853211.66000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Icahn Enterprises LP</name>
        <lei>N/A</lei>
        <title>Icahn Enterprises LP</title>
        <cusip>451102CC9</cusip>
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          <isin value="US451102CC97"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>450466.13000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
        <cusip>05605HAC4</cusip>
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          <isin value="US05605HAC43"/>
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        <balance>859000.00000000</balance>
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        <valUSD>734445.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
        <cusip>02156LAC5</cusip>
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          <isin value="US02156LAC54"/>
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        <balance>2550000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>CommScope, Inc.</name>
        <lei>549300Z6K4JXMFE8QY54</lei>
        <title>CommScope, Inc.</title>
        <cusip>203372AV9</cusip>
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          <isin value="US203372AV94"/>
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        <balance>3500000.00000000</balance>
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        <valUSD>1312500.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>CEC Entertainment LLC</name>
        <lei>N/A</lei>
        <title>CEC Entertainment LLC</title>
        <cusip>125137AC3</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
        <cusip>25470XAY1</cusip>
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        <balance>10092000.00000000</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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>USA Compression Partners LP</name>
        <lei>N/A</lei>
        <title>USA Compression Partners LP</title>
        <cusip>91740PAC2</cusip>
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        <balance>2280000.00000000</balance>
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        <valUSD>2214117.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Artera Services LLC</name>
        <lei>549300J2G34D0WX8Z443</lei>
        <title>Artera Services LLC</title>
        <cusip>73939VAA2</cusip>
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          <isin value="US73939VAA26"/>
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        <balance>2944000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2649600.00000000</valUSD>
        <pctVal>0.216366337648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-04</maturityDt>
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      <invstOrSec>
        <name>Conuma Resources Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harbour Energy plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>C&amp;W Senior Financing DAC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elastic NV</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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      <invstOrSec>
        <name>Signal Parent, Inc.</name>
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        <name>Sonic Automotive, Inc.</name>
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        <title>Sonic Automotive, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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      <invstOrSec>
        <name>Oscar AcquisitionCo LLC</name>
        <lei>N/A</lei>
        <title>Oscar Acquisition Co. LLC</title>
        <cusip>687785AB1</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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        <name>FirstCash, Inc.</name>
        <lei>549300V2X3UU7K0DG350</lei>
        <title>FirstCash, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-01</maturityDt>
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      <invstOrSec>
        <name>Howard Midstream Energy Partners LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
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        <name>AMN Healthcare, Inc.</name>
        <lei>549300H27NUKBFFQEE84</lei>
        <title>AMN Healthcare, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
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        <invCountry>CA</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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        <name>PennyMac Financial Services, Inc.</name>
        <lei>549300W1D516HBDEU871</lei>
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        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
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        <name>Cedar Fair LP</name>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
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        <invCountry>CA</invCountry>
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        <name>Cars.com, Inc.</name>
        <lei>5493002G6J07LNGX4M98</lei>
        <title>Cars.com, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Ingevity Corp.</name>
        <lei>5493009UTFC4B5IMGF87</lei>
        <title>Ingevity Corp.</title>
        <cusip>45688CAB3</cusip>
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          <isin value="US45688CAB37"/>
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        <balance>1765000.00000000</balance>
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        <valUSD>1432888.19000000</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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        <name>Churchill Downs, Inc.</name>
        <lei>529900FODTBQC8MIS994</lei>
        <title>Churchill Downs, Inc.</title>
        <cusip>171484AJ7</cusip>
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        <balance>250000.00000000</balance>
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      <invstOrSec>
        <name>Rand Parent LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Nine Energy Service, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
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      <invstOrSec>
        <name>Helios Software Holdings, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Yum! Brands, Inc.</name>
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          <maturityDt>2032-04-01</maturityDt>
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      <invstOrSec>
        <name>SLM Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-02</maturityDt>
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        <name>Aston Martin Capital Holdings Ltd.</name>
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        <balance>6250000.00000000</balance>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-30</maturityDt>
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          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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        <name>Tronox, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Jaguar Land Rover Automotive plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>TKC Holdings, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>10.50000000</annualizedRt>
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        <name>Ashland, Inc.</name>
        <lei>529900E4L9R04SB8HB11</lei>
        <title>Ashland, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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        <name>Seagate HDD Cayman</name>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
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        <name>Rockies Express Pipeline LLC</name>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>4.80000000</annualizedRt>
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        <name>MicroStrategy, Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
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        <name>Coty, Inc.</name>
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        <name>NOVA Chemicals Corp.</name>
        <lei>549300ZOD6N7RI2FJP09</lei>
        <title>NOVA Chemicals Corp.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-01</maturityDt>
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      <invstOrSec>
        <name>Talos Production, Inc.</name>
        <lei>549300GZ2DZZE2Y8TX15</lei>
        <title>Talos Production, Inc.</title>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOVA Chemicals Corp.</name>
        <lei>549300ZOD6N7RI2FJP09</lei>
        <title>NOVA Chemicals Corp.</title>
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          <isin value="US66977WAR07"/>
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        <balance>5665000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
        <cusip>670001AH9</cusip>
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          <isin value="US670001AH91"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>ZF North America Capital, Inc.</name>
        <lei>529900JYGMS9CW9IQX78</lei>
        <title>ZF North America Capital, Inc.</title>
        <cusip>98877DAD7</cusip>
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          <isin value="US98877DAD75"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14535.72000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
        <cusip>91911KAP7</cusip>
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          <isin value="US91911KAP75"/>
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        <balance>1798000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1559589.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Herbalife Nutrition Ltd.</name>
        <lei>N/A</lei>
        <title>Herbalife Nutrition Ltd.</title>
        <cusip>42704MAA0</cusip>
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          <isin value="US42704MAA09"/>
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        <balance>1017000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>957063.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP</title>
        <cusip>030981AJ3</cusip>
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          <isin value="US030981AJ33"/>
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        <balance>1405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1317117.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lamb Weston Holdings, Inc.</name>
        <lei>5493005SMYID1D2OY946</lei>
        <title>Lamb Weston Holdings, Inc.</title>
        <cusip>513272AE4</cusip>
        <identifiers>
          <isin value="US513272AE49"/>
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        <balance>3803000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3146478.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TKC Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>TKC Holdings, Inc.</title>
        <cusip>87256YAC7</cusip>
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          <isin value="US87256YAC75"/>
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        <balance>1270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1098550.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brookfield Residential Properties, Inc.</name>
        <lei>N/A</lei>
        <title>Brookfield Residential Properties, Inc.</title>
        <cusip>11283YAB6</cusip>
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          <isin value="US11283YAB65"/>
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        <balance>2040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1774838.88000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Cogent Communications Group, Inc.</name>
        <lei>549300KFWFYF8Q1U0Y26</lei>
        <title>Cogent Communications Group, Inc.</title>
        <cusip>19240CAE3</cusip>
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          <isin value="US19240CAE30"/>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>779625.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
        <cusip>853496AD9</cusip>
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        <balance>620000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Husky III Holding Ltd.</name>
        <lei>N/A</lei>
        <title>Husky III Holding Ltd.</title>
        <cusip>44810RAA6</cusip>
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        <balance>800000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
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          <annualizedRt>12.99999960</annualizedRt>
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        <name>Radiate Holdco LLC</name>
        <lei>N/A</lei>
        <title>Radiate Holdco LLC</title>
        <cusip>75026JAC4</cusip>
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        <balance>1940000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Vibrantz Technologies, Inc.</name>
        <lei>549300GYZ1T3S8OPH343</lei>
        <title>Vibrantz Technologies, Inc.</title>
        <cusip>69357VAA3</cusip>
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        <balance>1665000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-02-15</maturityDt>
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        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
        <cusip>85172FAN9</cusip>
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        <balance>1330000.00000000</balance>
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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>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <name>Lamar Media Corp.</name>
        <lei>N/A</lei>
        <title>Lamar Media Corp.</title>
        <cusip>513075BT7</cusip>
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        <balance>250000.00000000</balance>
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        <valUSD>211525.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cedar Fair LP</name>
        <lei>549300TUVLNQQ6BVKH61</lei>
        <title>Cedar Fair LP</title>
        <cusip>150190AE6</cusip>
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          <isin value="US150190AE64"/>
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        <balance>806000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>694157.02000000</valUSD>
        <pctVal>0.056684862685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VZ Secured Financing BV</name>
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        <name>Telesat Canada</name>
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        <name>TriNet Group, Inc.</name>
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        <name>Forward Air Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Insurance, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dana, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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        <name>TransDigm, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
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        <name>Heartland Dental LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>10.50000000</annualizedRt>
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        <name>New Fortress Energy, Inc.</name>
        <lei>254900EICTYTCHA5X705</lei>
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        <name>Ferrellgas LP</name>
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        <name>Ladder Capital Finance Holdings LLLP</name>
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        <name>CCO Holdings LLC</name>
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        <name>Hilton Grand Vacations Borrower Escrow LLC</name>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>Northwest Fiber LLC</name>
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        <name>Ashton Woods USA LLC</name>
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        <name>Railworks Holdings LP</name>
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        <name>PECF USS Intermediate Holding III Corp.</name>
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        <name>Medline Borrower LP</name>
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        <name>Team Health Holdings, Inc.</name>
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        <name>Standard Industries, Inc.</name>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>Howard Hughes Corp. (The)</name>
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        <name>Ford Motor Co.</name>
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        <name>Ford Motor Co.</name>
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      <invstOrSec>
        <name>Civitas Resources, Inc.</name>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMN Healthcare, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Altice France SA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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      <invstOrSec>
        <name>Acuris Finance Us, Inc.</name>
        <lei>N/A</lei>
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          <isin value="US00511BAA52"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Travel + Leisure Co.</name>
        <lei>T4VNTWMFQ7JQB65L7T35</lei>
        <title>Travel + Leisure Co.</title>
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          <isin value="US894164AA06"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Prestige Brands, Inc.</name>
        <lei>549300JBVP4J6D42I235</lei>
        <title>Prestige Brands, Inc.</title>
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          <isin value="US74112BAL99"/>
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        <balance>770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>709916.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Global Infrastructure Solutions, Inc.</name>
        <lei>2549003BGLQITAJ6ZT28</lei>
        <title>Global Infrastructure Solutions, Inc.</title>
        <cusip>37960XAA5</cusip>
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          <isin value="US37960XAA54"/>
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        <balance>1053000.00000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing, Inc.</title>
        <cusip>527298BR3</cusip>
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          <isin value="US527298BR35"/>
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        <balance>2470000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>eG Global Finance plc</name>
        <lei>549300TL8Q5207VYET27</lei>
        <title>eG Global Finance plc</title>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1180500.00000000</valUSD>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-30</maturityDt>
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        <name>Churchill Downs, Inc.</name>
        <lei>529900FODTBQC8MIS994</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>New Gold, Inc.</name>
        <lei>5493005G0GNCHP0H6L96</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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        <name>Ford Motor Co.</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co.</title>
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          <maturityDt>2030-04-22</maturityDt>
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        <name>1011778 BC ULC</name>
        <lei>N/A</lei>
        <title>1011778 BC ULC</title>
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        <balance>200000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>CDI Escrow Issuer, Inc.</name>
        <lei>N/A</lei>
        <title>CDI Escrow Issuer, Inc.</title>
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        <name>Molina Healthcare, Inc.</name>
        <lei>549300NQQCEQ46YHZ591</lei>
        <title>Molina Healthcare, Inc.</title>
        <cusip>60855RAJ9</cusip>
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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>2028-06-15</maturityDt>
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      <invstOrSec>
        <name>United Natural Foods, Inc.</name>
        <lei>549300GKGW6WPZ282D40</lei>
        <title>United Natural Foods, Inc.</title>
        <cusip>911163AA1</cusip>
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        <balance>2676000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Spirit AeroSystems, Inc.</name>
        <lei>ZD2NBKV6GCC3UMGBM518</lei>
        <title>Spirit AeroSystems, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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      <invstOrSec>
        <name>Garden Spinco Corp.</name>
        <lei>N/A</lei>
        <title>Garden Spinco Corp.</title>
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          <isin value="US365417AA28"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-20</maturityDt>
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      <invstOrSec>
        <name>W&amp;T Offshore, Inc.</name>
        <lei>549300Q7EOY2YIO3YK85</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hilcorp Energy I LP</name>
        <lei>N/A</lei>
        <title>Hilcorp Energy I LP</title>
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          <isin value="US431318AU81"/>
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        <curCd>USD</curCd>
        <valUSD>2736851.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Summer BC Bidco B LLC</name>
        <lei>213800CCW2O2WZ7YV169</lei>
        <title>Summer BC Bidco B LLC</title>
        <cusip>865632AA1</cusip>
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          <isin value="US865632AA18"/>
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        <balance>2260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1968121.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-31</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Penn Entertainment, Inc.</name>
        <lei>N/A</lei>
        <title>Penn Entertainment, Inc.</title>
        <cusip>707569AV1</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77696.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
        <cusip>071734AC1</cusip>
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          <isin value="US071734AC18"/>
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        <balance>1265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>657800.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gen Digital, Inc.</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital, Inc.</title>
        <cusip>668771AL2</cusip>
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          <isin value="US668771AL22"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>398868.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-30</maturityDt>
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          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>Gran Tierra Energy, Inc.</name>
        <lei>549300IH2S17MAIUCM32</lei>
        <title>Gran Tierra Energy, Inc.</title>
        <cusip>38500TAC5</cusip>
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          <isin value="US38500TAC53"/>
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        <balance>1682000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Patrick Industries, Inc.</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
        <lei>IWUQB36BXD6OWD6X4T14</lei>
        <title>American Airlines, Inc.</title>
        <cusip>023771T32</cusip>
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        <balance>1560000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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        <name>Blackstone Mortgage Trust, Inc.</name>
        <lei>549300OLDJ20R2Y2UW20</lei>
        <title>Blackstone Mortgage Trust, Inc.</title>
        <cusip>09257WAD2</cusip>
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        <balance>1245000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>Allied Universal Holdco LLC</name>
        <lei>N/A</lei>
        <title>Allied Universal Holdco LLC</title>
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        <balance>1800000.00000000</balance>
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        <invCountry>US</invCountry>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>NextEra Energy Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>NextEra Energy Operating Partners LP</title>
        <cusip>65342QAB8</cusip>
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        <balance>1220000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Carnival Holdings Bermuda Ltd.</name>
        <lei>N/A</lei>
        <title>Carnival Holdings Bermuda Ltd.</title>
        <cusip>14366RAA7</cusip>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>10.37500000</annualizedRt>
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      <invstOrSec>
        <name>Xerox Corp.</name>
        <lei>4KF48RN45X1OO8UBLY20</lei>
        <title>Xerox Corp.</title>
        <cusip>984121CB7</cusip>
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        <balance>1905000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Buckeye Partners LP</name>
        <lei>549300C1PQJLVEIUBK50</lei>
        <title>Buckeye Partners LP</title>
        <cusip>118230AQ4</cusip>
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        <balance>805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>733693.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <curCd>USD</curCd>
        <valUSD>957596.18000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>HTA Group Ltd.</name>
        <lei>213800WEFU8O8X6EPU13</lei>
        <title>HTA Group Ltd.</title>
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          <isin value="US40435WAB63"/>
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        <balance>715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690504.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>MU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-18</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
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          <isin value="US071734AH05"/>
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        <valUSD>673341.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Civitas Resources, Inc.</name>
        <lei>IIVIHPH28S64K95M2381</lei>
        <title>Civitas Resources, Inc.</title>
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          <isin value="US17888HAA14"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1031315.13000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397A86</cusip>
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          <isin value="US345397A860"/>
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        <balance>1285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1166661.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GPS Hospitality Holding Co. LLC</name>
        <lei>N/A</lei>
        <title>GPS Hospitality Holding Co. LLC</title>
        <cusip>36262BAA0</cusip>
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          <isin value="US36262BAA08"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>747620.32000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HLF Financing Sarl LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>2221537.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Suburban Propane Partners LP</name>
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        <balance>585000.00000000</balance>
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        <valUSD>554287.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Harvest Midstream I LP</name>
        <lei>549300DW5M17KJOXCY66</lei>
        <title>Harvest Midstream I LP</title>
        <cusip>417558AA1</cusip>
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          <isin value="US417558AA18"/>
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        <balance>4510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4273463.58000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Crescent Energy Finance LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
        <title>Crescent Energy Finance LLC</title>
        <cusip>45344LAA1</cusip>
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        <balance>2160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2091096.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Baytex Energy Corp.</name>
        <lei>549300R5LTV2H7I1I079</lei>
        <title>Baytex Energy Corp.</title>
        <cusip>07317QAJ4</cusip>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1733281.90000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jane Street Group</name>
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          <maturityDt>2029-11-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
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      </invstOrSec>
      <invstOrSec>
        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc.</title>
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          <isin value="US097751BX80"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>442439.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Spirit AeroSystems, Inc.</name>
        <lei>ZD2NBKV6GCC3UMGBM518</lei>
        <title>Spirit AeroSystems, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>3616059.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-11-30</ncom:dateSigned>
      <ncom:nameOfApplicant>FlexShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Randal Rein</ncom:signature>
      <ncom:signerName>Randal Rein</ncom:signerName>
      <ncom:title>Treasurer and PFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
