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        <name>ACCO Brands Corp.</name>
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        <name>AMC Global Media, Inc.</name>
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        <name>AMN Healthcare, Inc.</name>
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        <name>Angi Group LLC</name>
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        <name>AP Core Holdings II LLC</name>
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        <name>ASP Unifrax Holdings, Inc.</name>
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        <name>AAR Escrow Issuer LLC</name>
        <lei>N/A</lei>
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        <name>Adapthealth LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Adient Global Holdings Ltd.</name>
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        <name>Advance Auto Parts, Inc.</name>
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        <name>AECOM</name>
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        <name>Advantage Sales &amp; Marketing, Inc.</name>
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        <name>Osaic Holdings, Inc.</name>
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        <name>Affinity Interactive</name>
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        <name>Albertsons Cos., Inc.</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>Albion Financing 1 SARL</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allen Media LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bread Financial Holdings, Inc.</name>
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        <name>Alliance Resource Operating Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Allied Universal Holdco LLC</name>
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        <name>Ally Financial, Inc.</name>
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        <name>Allwyn Entertainment Financing UK plc</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
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          <isin value="US02090DAA63"/>
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        <curCd>USD</curCd>
        <valUSD>410037.45000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
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          <isin value="US02090DAC20"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57898.90000000</valUSD>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
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          <isin value="US02090DAD03"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>871143.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
        <cusip>02090DAE8</cusip>
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          <isin value="US02090DAE85"/>
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        <balance>1155366.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1121627.81000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Altice France Lux 3/Altice Holdings 1</name>
        <lei>N/A</lei>
        <title>Altice France Lux 3</title>
        <cusip>020956AA6</cusip>
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          <isin value="US020956AA67"/>
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        <balance>1210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1187459.52000000</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>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alta Equipment Group, Inc.</name>
        <lei>549300DGOB28CLGS1X27</lei>
        <title>Alta Equipment Group, Inc.</title>
        <cusip>02128LAC0</cusip>
        <identifiers>
          <isin value="US02128LAC00"/>
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        <balance>860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>820382.55000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="830350.35000000"/>
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      <invstOrSec>
        <name>AltaGas Ltd.</name>
        <lei>2549008X5V70MOS4HM10</lei>
        <title>AltaGas Ltd.</title>
        <cusip>021361AD2</cusip>
        <identifiers>
          <isin value="US021361AD20"/>
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        <balance>1360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1406792.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="105453.09000000"/>
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      <invstOrSec>
        <name>Altice Financing SA</name>
        <lei>549300DIYGW8HVDF7Q17</lei>
        <title>Altice Financing SA</title>
        <cusip>02154CAF0</cusip>
        <identifiers>
          <isin value="US02154CAF05"/>
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        <balance>2055000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1300845.41000000</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>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Altice Financing SA</name>
        <lei>549300DIYGW8HVDF7Q17</lei>
        <title>Altice Financing SA</title>
        <cusip>02154CAH6</cusip>
        <identifiers>
          <isin value="US02154CAH60"/>
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        <balance>1680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1059980.54000000</valUSD>
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        <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>
          <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>Alteryx, Inc.</name>
        <lei>549300XWZG0JHL7I0827</lei>
        <title>Alteryx, Inc.</title>
        <cusip>02156BAG8</cusip>
        <identifiers>
          <isin value="US02156BAG86"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>451125.00000000</valUSD>
        <pctVal>0.041116099135</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</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>Amentum Holdings, Inc.</name>
        <lei>2549009FJIBLW40CU216</lei>
        <title>Amentum Holdings, Inc.</title>
        <cusip>02352BAA3</cusip>
        <identifiers>
          <isin value="US02352BAA35"/>
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        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>534244.36000000</valUSD>
        <pctVal>0.048691702007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American National Group, Inc.</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>American National Group, Inc.</title>
        <cusip>025676AR8</cusip>
        <identifiers>
          <isin value="US025676AR82"/>
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        <balance>1130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1087098.87000000</valUSD>
        <pctVal>0.099079556462</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP</title>
        <cusip>030981AM6</cusip>
        <identifiers>
          <isin value="US030981AM61"/>
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        <balance>1559000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1593863.92000000</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>9.37500000</annualizedRt>
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      <invstOrSec>
        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP</title>
        <cusip>030981AP9</cusip>
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          <isin value="US030981AP92"/>
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        <balance>4490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4814070.24000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP</title>
        <cusip>030981AR5</cusip>
        <identifiers>
          <isin value="US030981AR58"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1218586.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>AmWINS Group, Inc.</name>
        <lei>549300SJE7MUB8NMRG61</lei>
        <title>AmWINS Group, Inc.</title>
        <cusip>031921AB5</cusip>
        <identifiers>
          <isin value="US031921AB57"/>
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        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404276.75000000</valUSD>
        <pctVal>0.036846290786</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="257161.96000000"/>
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      <invstOrSec>
        <name>Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc.</name>
        <lei>N/A</lei>
        <title>Amynta Agency Borrower, Inc. and Amynta Warranty Borrower, Inc.</title>
        <cusip>03238AAA3</cusip>
        <identifiers>
          <isin value="US03238AAA34"/>
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        <balance>240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234564.00000000</valUSD>
        <pctVal>0.021378457584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
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        <name>Ashton Woods USA LLC</name>
        <lei>N/A</lei>
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        <name>Asurion LLC</name>
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        <name>Asurion LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
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      <invstOrSec>
        <name>Assurant, Inc.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-27</maturityDt>
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      <invstOrSec>
        <name>Atlanticus Holdings Corp.</name>
        <lei>N/A</lei>
        <title>Atlanticus Holdings Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>9.75000000</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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          <isin value="US049362AA49"/>
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        <balance>310000.00000000</balance>
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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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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Avantor Funding, Inc.</name>
        <lei>5493003VM0XB4U8YD238</lei>
        <title>Avantor Funding, Inc.</title>
        <cusip>05352TAA7</cusip>
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        <balance>10000.00000000</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>2028-07-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Avis Budget Car Rental LLC</name>
        <lei>N/A</lei>
        <title>Avis Budget Car Rental LLC</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Axon Enterprise, Inc.</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>Axon Enterprise, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>Azorra Finance Ltd.</name>
        <lei>254900MC1HXDAVUUP395</lei>
        <title>Azorra Finance Ltd.</title>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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      <invstOrSec>
        <name>B&amp;G Foods, Inc.</name>
        <lei>549300TRW1LZMDJZAQ78</lei>
        <title>B&amp;G Foods, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>B&amp;G Foods, Inc.</name>
        <lei>549300TRW1LZMDJZAQ78</lei>
        <title>B&amp;G Foods, Inc.</title>
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        <name>LBM Acquisition LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BKV Upstream Midstream LLC</name>
        <lei>254900LG75NBYHBBAU18</lei>
        <title>BKV Upstream Midstream LLC</title>
        <cusip>05619CAA3</cusip>
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          <isin value="US05619CAA36"/>
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        <balance>4160000.00000000</balance>
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        <valUSD>4154859.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ball Corp.</name>
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        <name>Banijay Entertainment SAS</name>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>BCPE Flavor Debt Merger Sub LLC and BCPE Flavor Issuer, Inc.</name>
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        <name>Beach Acquisition Bidco LLC</name>
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        <name>Beazer Homes USA, Inc.</name>
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        <name>Beazer Homes USA, Inc.</name>
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        <name>Bell Telephone Co. of Canada or Bell Canada</name>
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        <name>BellRing Brands, Inc.</name>
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        <name>Belo Corp.</name>
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        <name>Belron UK Finance plc</name>
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        <name>Blackstone Mortgage Trust, Inc.</name>
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        <name>Brightline East LLC</name>
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        <name>Blue Racer Midstream LLC</name>
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        <name>BlueLinx Holdings, Inc.</name>
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      <invstOrSec>
        <name>Bombardier, Inc.</name>
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      <invstOrSec>
        <name>Bond US Bidco 1, Inc.</name>
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      <invstOrSec>
        <name>Boyd Gaming Corp.</name>
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        <name>Boyne USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brand Industrial Services, Inc.</name>
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        <name>Brandywine Operating Partnership LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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        <name>Brandywine Operating Partnership LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Breakwater Energy Holdings Sarl</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Brink's Co. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Bristow Group, Inc.</name>
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        <name>Broadstreet Partners Group LLC</name>
        <lei>549300BS9N54G8DD0R75</lei>
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        <name>Brookfield Residential Properties, Inc.</name>
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        <name>Brookfield Residential Properties, Inc.</name>
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        <name>Brookfield Residential Properties, Inc.</name>
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        <name>Buckeye Partners LP</name>
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        <name>Buckeye Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Buckeye Partners LP</name>
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        <name>Churchill Downs, Inc.</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>CNX Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>CVR Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CVR Energy, Inc.</name>
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        <name>CVR Partners LP</name>
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        <name>CVS Health Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cable One, Inc.</name>
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        <name>Caesars Entertainment, Inc.</name>
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        <name>Calderys Financing II LLC</name>
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        <name>California Resources Corp.</name>
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        <name>California Resources Corp.</name>
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        <name>Celanese US Holdings LLC</name>
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        <name>Centene Corp.</name>
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        <name>Central Garden &amp; Pet Co.</name>
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        <name>Century Aluminum Co.</name>
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        <name>Century Communities, Inc.</name>
        <lei>5299002QMB2O7ZL1CA26</lei>
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        <name>Churchill Downs, Inc.</name>
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        <name>Ciena Corp.</name>
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        <name>Cimpress plc</name>
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        <name>SM Energy Co.</name>
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      <invstOrSec>
        <name>Conduent Business Services LLC</name>
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        <name>Connect Holding II LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Consensus Cloud Solutions, Inc.</name>
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      <invstOrSec>
        <name>Consolidated Energy Finance SA</name>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Consolidated Energy Finance SA</name>
        <lei>549300PUNIS0USNSL750</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ContourGlobal Power Holdings SA</name>
        <lei>549300O5AGIFK0PQ1516</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-28</maturityDt>
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        <name>Core &amp; Main LP</name>
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        <title>Core &amp; Main LP</title>
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          <isin value="US21867FAC86"/>
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        <balance>455000.00000000</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>2034-07-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>CoreCivic, Inc.</name>
        <lei>529900JFA3K6PTLT8B15</lei>
        <title>CoreCivic, Inc.</title>
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          <isin value="US21871NAA90"/>
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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>CoreCivic, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>Coronado Finance Pty. Ltd.</name>
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        <name>Coty, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Reworld Holding Corp.</name>
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        <name>Crane NXT Co.</name>
        <lei>549300EXNPSXEWUD3N21</lei>
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        <name>Crane NXT Co.</name>
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        <name>Credit Acceptance Corp.</name>
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        <name>Crocs, Inc.</name>
        <lei>549300B0J6YCXD63OG72</lei>
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        <name>Crocs, Inc.</name>
        <lei>549300B0J6YCXD63OG72</lei>
        <title>Crocs, Inc.</title>
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        <name>CrossCountry Intermediate HoldCo LLC</name>
        <lei>N/A</lei>
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        <name>Deluxe Corp.</name>
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        <name>DENTSPLY SIRONA, Inc.</name>
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        <name>DISH DBS Corp.</name>
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        <name>Edison International</name>
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      <invstOrSec>
        <name>Elastic NV</name>
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      <invstOrSec>
        <name>Eldorado Gold Corp.</name>
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        <name>Element Solutions, Inc.</name>
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        <name>ELK Grove Village Property LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Embecta Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Embecta Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Empire Communities Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
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      <invstOrSec>
        <name>Encore Capital Group, Inc.</name>
        <lei>5493000UVC6H49CIH830</lei>
        <title>Encore Capital Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Encompass Health Corp.</name>
        <lei>549300FVRPM9DRQZRG64</lei>
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        <name>Encompass Health Corp.</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Energy Transfer LP</name>
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        <name>Energy Transfer LP</name>
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        <name>Enpro, Inc.</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
        <title>Enpro, Inc.</title>
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        <name>SK Invictus Intermediate II Sarl</name>
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        <name>Fair Isaac Corp.</name>
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        <name>FHLMC</name>
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        <name>Macy's Retail Holdings LLC</name>
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        <name>Fertitta Entertainment LLC</name>
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        <name>EF Holdco</name>
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        <name>Fiesta Purchaser, Inc.</name>
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        <name>Fiesta Purchaser, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GEO Group, Inc. (The)</name>
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        <name>GCI LLC</name>
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        <name>GGAM Finance Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GPS Hospitality Holding Co. LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>GFL Environmental Holdings US, Inc.</name>
        <lei>N/A</lei>
        <title>GFL Environmental Holdings US, Inc.</title>
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        <name>Gap, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Garda World Security Corp.</name>
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        <name>Garda World Security Corp.</name>
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        <name>Wrangler Holdco Corp.</name>
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        <name>GoTo Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HA Sustainable Infrastructure Capital, Inc.</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harvest Midstream I LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Harvest Midstream I LP</name>
        <lei>549300DW5M17KJOXCY66</lei>
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          <isin value="US417558AD56"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HealthEquity, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Helix Energy Solutions Group, Inc.</name>
        <lei>416AP2JOUTCWEGSOZW41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Herens Holdco Sarl</name>
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          <isin value="US427169AA59"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Hertz Corp. (The)</name>
        <lei>549300PD0C69OJ0NLB27</lei>
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          <isin value="US428040DB25"/>
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        <balance>919000.00000000</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>2029-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hertz Corp. (The)</name>
        <lei>549300PD0C69OJ0NLB27</lei>
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          <isin value="US428040DC08"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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      <invstOrSec>
        <name>Hilcorp Energy I LP</name>
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          <isin value="US431318AS36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>Hilcorp Energy I LP</name>
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        <name>Hilcorp Energy I LP</name>
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          <maturityDt>2030-04-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Hilcorp Energy I LP</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>Hilcorp Energy I LP</name>
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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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        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilton Grand Vacations Borrower LLC</name>
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      <invstOrSec>
        <name>Hilton Worldwide Finance LLC</name>
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        <name>Service Properties Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Howard Midstream Energy Partners LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Howden UK Refinance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Howden UK Refinance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hudbay Minerals, Inc.</name>
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        <name>Hunt Cos., Inc.</name>
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        <name>IHO Verwaltungs GmbH</name>
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        <name>Iliad Holding SAS</name>
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        <name>INEOS Finance plc</name>
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        <name>INEOS Finance plc</name>
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      <invstOrSec>
        <name>ITT Holdings LLC</name>
        <lei>549300TH2PHOLK31LB42</lei>
        <title>ITT Holdings LLC</title>
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      <invstOrSec>
        <name>IAMGOLD Corp.</name>
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        <name>Icahn Enterprises LP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Icahn Enterprises LP</name>
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        <name>iHeartCommunications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>iHeartCommunications, Inc.</name>
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        <name>Ingram Micro, Inc.</name>
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        <name>Industrial F&amp;B Investments III, Inc.</name>
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        <name>INEOS Quattro Finance 2 plc</name>
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        <name>Infrabuild Australia Pty. Ltd.</name>
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        <name>Ingevity Corp.</name>
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        <name>Infinity Natural Resources LLC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Insulet Corp.</name>
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        <name>ION Platform Finance US, Inc.</name>
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        <name>ION Platform Finance US, Inc.</name>
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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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        <name>ION Platform Finance US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Iron Mountain, Inc.</name>
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        <lei>SQL3F6CKNNBM3SQGHX24</lei>
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        <name>Iron Mountain, Inc.</name>
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        <name>JW Aluminum Continuous Cast Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jones Deslauriers Insurance Management, Inc.</name>
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      <invstOrSec>
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        <name>KB Home</name>
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        <name>Kedrion SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Kinetik Holdings LP</name>
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      <invstOrSec>
        <name>Kohl's Corp.</name>
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        <name>Kohl's Corp.</name>
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        <name>Kontoor Brands, Inc.</name>
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        <name>Kronos Acquisition Holdings, Inc.</name>
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        <name>Bath &amp; Body Works, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
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        <name>LGI Homes, Inc.</name>
        <lei>549300W02B4WNV8CV109</lei>
        <title>LGI Homes, Inc.</title>
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        <name>Lindblad Expeditions LLC</name>
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        <name>Lsf12 Helix Parent LLC</name>
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        <name>Luna 1.5 Sarl</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Meridian Arc Holdco 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>2031-04-30</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Merlin Entertainments Group US Holdings, Inc.</name>
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          <isin value="US59010UAA51"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Michaels Cos., Inc. (The)</name>
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        <title>Michaels Cos., Inc. (The)</title>
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          <isin value="US59408QAA40"/>
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        <balance>1360000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
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          <annualizedRt>11.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Michaels Cos., Inc. (The)</name>
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        <title>Michaels Cos., Inc. (The)</title>
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          <isin value="US59408QAB23"/>
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        <balance>835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>827172.88000000</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>2033-03-15</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Stagwell Global LLC</name>
        <lei>984500904E015Z0C1F82</lei>
        <title>Stagwell Global LLC</title>
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          <isin value="US59565JAA97"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1196119.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>Midcontinent Communications</name>
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        <title>Midcontinent Communications</title>
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          <isin value="US59565XAD21"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>552003.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Midwest Gaming Borrower LLC</name>
        <lei>N/A</lei>
        <title>Midwest Gaming Borrower LLC</title>
        <cusip>59833DAB6</cusip>
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          <isin value="US59833DAB64"/>
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        <balance>565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>548691.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
        <cusip>600814AN7</cusip>
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          <isin value="US600814AN71"/>
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        <balance>675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>667703.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
        <cusip>600814AQ0</cusip>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>359703.43000000</valUSD>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>Millicom International Cellular SA</name>
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        <title>Millicom International Cellular SA</title>
        <cusip>600814AR8</cusip>
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        <balance>2080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1910390.35000000</valUSD>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-27</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
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        <balance>175000.00000000</balance>
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        <valUSD>179243.40000000</valUSD>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-02</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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        <name>Millrose Properties, Inc.</name>
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        <name>Millrose Properties, Inc.</name>
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        <name>AthenaHealth Group, Inc.</name>
        <lei>254900AA3KZN4Q7A5Z33</lei>
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        <name>Miter Brands Acquisition Holdco, Inc.</name>
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          <maturityDt>2032-04-01</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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        <name>Mobius Merger Sub, Inc.</name>
        <lei>N/A</lei>
        <title>Mobius Merger Sub, Inc.</title>
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        <valUSD>756257.36000000</valUSD>
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        <invCountry>US</invCountry>
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          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mohegan Tribal Gaming Authority</name>
        <lei>N/A</lei>
        <title>Mohegan Tribal Gaming Authority</title>
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        <balance>77000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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          <annualizedRt>8.25000000</annualizedRt>
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        <name>Molina Healthcare, Inc.</name>
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        <name>Molina Healthcare, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Molina Healthcare, Inc.</name>
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        <name>Moss Creek Resources Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mueller Water Products, Inc.</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Murphy Oil Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</maturityDt>
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        <name>Murphy Oil Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Murphy Oil USA, Inc.</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>National Mentor Holdings, Inc.</name>
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        <name>Neptune Bidco US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Risewell Homes, Inc.</name>
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          <maturityDt>2030-11-01</maturityDt>
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        <name>Rithm Capital Corp.</name>
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        <name>Rithm Capital Corp.</name>
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        <name>Rithm Capital Corp.</name>
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        <name>Newell Brands, Inc.</name>
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        <name>Newell Brands, Inc.</name>
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        <name>Nexstar Media, Inc.</name>
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        <name>Nexstar Media, Inc.</name>
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        <name>Chord Energy Corp.</name>
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        <name>Oceaneering International, Inc.</name>
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        <name>Olin Corp.</name>
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        <name>Open Text Corp.</name>
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        <name>Option Care Health, Inc.</name>
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        <name>Organon &amp; Co.</name>
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        <name>OT Merger Corp.</name>
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        <name>Owens-Brockway Glass Container, Inc.</name>
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        <name>Oxford Finance LLC</name>
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        <name>P&amp;L Development LLC</name>
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        <name>PBF Holding Co. LLC</name>
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        <name>PG&amp;E Corp.</name>
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        <name>PRA Group, Inc.</name>
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        <name>PM General Purchaser LLC</name>
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        <name>PODS LLC</name>
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        <name>PacifiCorp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PacifiCorp</name>
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        <name>CRC Insurance Group LLC</name>
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        <name>Paradigm Parent LLC and Paradigm Parent CO-Issuer, Inc.</name>
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        <name>Park-Ohio Industries, Inc.</name>
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        <name>Park River Holdings, Inc.</name>
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        <name>Par Petroleum LLC</name>
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        <name>Patrick Industries, Inc.</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries, Inc.</title>
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        <name>Patrick Industries, Inc.</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries, Inc.</title>
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      <invstOrSec>
        <name>PHH Escrow Issuer LLC</name>
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      <invstOrSec>
        <name>Phinia, Inc.</name>
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      <invstOrSec>
        <name>Phinia, Inc.</name>
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        <name>Phoenix Aviation Capital Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pitney Bowes, Inc.</name>
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        <name>Planet Financial Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Post Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Post Holdings, Inc.</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Prairie Acquiror LP</name>
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        <name>Precision Drilling Corp.</name>
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        <name>Premier Entertainment Sub LLC</name>
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        <name>Premier Entertainment Sub LLC</name>
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        <name>Prestige Brands, Inc.</name>
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        <name>Prime Healthcare Services, Inc.</name>
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        <name>Prime Security Services Borrower LLC</name>
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      <invstOrSec>
        <name>ADT Security Corp. (The)</name>
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        <name>Puget Energy, Inc.</name>
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        <name>RHP Hotel Properties LP</name>
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        <name>RXO, Inc.</name>
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        <name>Rain Carbon, Inc.</name>
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        <name>Rakuten Group, Inc.</name>
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        <name>Rand Parent LLC</name>
        <lei>N/A</lei>
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        <name>Anywhere Real Estate Group LLC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Upbound Group, Inc.</name>
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        <name>Resorts World Las Vegas LLC</name>
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      <invstOrSec>
        <name>Resorts World Las Vegas LLC</name>
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        <name>RB Global Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RB Global Holdings, Inc.</name>
        <lei>254900LH3N0EGB1LQ203</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROBLOX Corp.</name>
        <lei>529900ANZDBDFU91SO19</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Software, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Software, Inc.</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>Rogers Communications, Inc.</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications, Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Roller Bearing Co. of America, Inc.</name>
        <lei>254900U9XW6S76H2P167</lei>
        <title>Roller Bearing Co. of America, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SESI LLC</name>
        <lei>XDZ56K6RXS5J1ESBZS35</lei>
        <title>SESI LLC</title>
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        <name>Sabre GLBL, Inc.</name>
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        <name>Science Applications International Corp.</name>
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        <name>Seadrill Finance Ltd.</name>
        <lei>213800WMN3OHFUDHD642</lei>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sealed Air Corp.</name>
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      <invstOrSec>
        <name>SeaWorld Parks &amp; Entertainment, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Select Medical Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Diversified Healthcare Trust</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>Service Properties Trust</name>
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          <isin value="US81761LAE20"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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      <invstOrSec>
        <name>Service Properties Trust</name>
        <lei>529900IS770AG1K9QG27</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Simmons Foods, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>Sirius XM Radio LLC</name>
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        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
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        <name>Sirius XM Radio LLC</name>
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        <name>Sirius XM Radio LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Skeena Resources Ltd.</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Station Casinos LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Stena International SA</name>
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        <name>Stena International SA</name>
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        <name>STL Holding Co. LLC</name>
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        <name>Stonebriar ABF Issuer LLC</name>
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        <name>StoneMor, Inc.</name>
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        <name>Stonex Escrow Issuer LLC</name>
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        <name>Stonepeak Nile Parent LLC</name>
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        <name>Suburban Propane Partners LP</name>
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      <invstOrSec>
        <name>Suburban Propane Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Summit Midstream Holdings LLC</name>
        <lei>N/A</lei>
        <title>Summit Midstream Holdings LLC</title>
        <cusip>86614JAA3</cusip>
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          <isin value="US86614JAA34"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10385.76000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-31</maturityDt>
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      <invstOrSec>
        <name>SunCoke Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-30</maturityDt>
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      <invstOrSec>
        <name>Sunoco LP</name>
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          <isin value="US86765KAJ88"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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      <invstOrSec>
        <name>Surgery Center Holdings, Inc.</name>
        <lei>54930054EVI5HWPPW113</lei>
        <title>Surgery Center Holdings, Inc.</title>
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          <isin value="US86881WAF95"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sword Purchaser LLC</name>
        <lei>254900S0VY2QTAITBR94</lei>
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          <isin value="US87110CAA53"/>
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        <balance>410000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-15</maturityDt>
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        <name>Sword Purchaser LLC</name>
        <lei>254900S0VY2QTAITBR94</lei>
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        <balance>1350000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
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        <balance>1085000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-02</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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        <name>TGS ASA</name>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>TKC Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TKC Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>12.00000000</annualizedRt>
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        <name>TMS International Corp.</name>
        <lei>549300L4K0F1YF8WKF23</lei>
        <title>TMS International Corp.</title>
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          <isin value="US87261QAC78"/>
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        <balance>235000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>Tri Pointe Homes, Inc.</name>
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        <balance>550000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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        <name>Tri Pointe Homes, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
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        <balance>445000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Tallgrass Energy Partners LP</name>
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        <balance>5000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-31</maturityDt>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
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        <balance>235000.00000000</balance>
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        <valUSD>240342.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Taylor Morrison Communities, Inc.</name>
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        <name>Team Health Holdings, Inc.</name>
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      <invstOrSec>
        <name>TEAM Services Holding, Inc.</name>
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        <name>Telecom Italia Capital SA</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TELUS Corp.</name>
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        <name>TELUS Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELUS Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Somnigroup International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Somnigroup International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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        <name>Tenneco, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Thor Industries, Inc.</name>
        <lei>254900XZO1228PDSG060</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Cloud Software Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-31</maturityDt>
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        <name>Tidewater, Inc.</name>
        <lei>2549000JA5GRUPLMUH98</lei>
        <title>Tidewater, Inc.</title>
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        <name>Titan International, Inc.</name>
        <lei>254900CXRGBE7C4B5A06</lei>
        <title>Titan International, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toucan FinCo. Ltd.</name>
        <lei>N/A</lei>
        <title>Toucan FinCo. Ltd.</title>
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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>
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          <loanByFundCondition isLoanByFund="Y" loanVal="368342.65000000"/>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BR7</cusip>
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        <balance>1460000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
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        <name>TransDigm, Inc.</name>
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        <name>Transocean International Ltd.</name>
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        <name>Transocean International Ltd.</name>
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        <name>TriNet Group, Inc.</name>
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        <name>TriNet Group, Inc.</name>
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        <name>Trivium Packaging Finance BV</name>
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        <name>Turning Point Brands, Inc.</name>
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        <name>Twilio, Inc.</name>
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        <name>UKG, Inc.</name>
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        <name>US Acute Care Solutions LLC</name>
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        <name>Under Armour, Inc.</name>
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        <name>Unisys Corp.</name>
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        <name>United Wholesale Mortgage LLC</name>
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        <name>United Wholesale Mortgage LLC</name>
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        <name>Uniti Group LP</name>
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        <name>Uniti Group LP</name>
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        <name>Uniti Group LP</name>
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        <name>VOC Escrow Ltd.</name>
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        <name>VT Topco, Inc.</name>
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        <name>Paramount Global</name>
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        <name>Viavi Solutions, Inc.</name>
        <lei>5493006K3E3N1QOBF092</lei>
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        <name>Victra Holdings LLC</name>
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        <name>Viking Baked Goods Acquisition Corp.</name>
        <lei>254900DBFD2H1FJK0893</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Viking Cruises Ltd.</name>
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        <invCountry>BM</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Viking Cruises Ltd.</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
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        <name>Virgin Media Finance plc</name>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Virgin Media Secured Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virgin Media Secured Finance plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Virtusa Corp.</name>
        <lei>C77OMXDER63WLJCSKT03</lei>
        <title>Virtusa Corp.</title>
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        <balance>795000.00000000</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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          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>Vmed O2 UK Financing I plc</name>
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        <title>Vmed O2 UK Financing I plc</title>
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          <isin value="US92858RAB69"/>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Vmed O2 UK Financing I plc</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-15</maturityDt>
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        <name>VoltaGrid LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Voyager Parent LLC</name>
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        <name>WR Grace Holdings LLC</name>
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        <name>WR Grace Holdings LLC</name>
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        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
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        <name>WBI Operating LLC</name>
        <lei>254900POBWB4RX0ODY78</lei>
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        <name>Wabash National Corp.</name>
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        <fairValLevel>2</fairValLevel>
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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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          <maturityDt>2037-11-15</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>ZF North America Capital, Inc.</name>
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        <name>Zebra Technologies Corp.</name>
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        <name>Ziggo Bond Co. BV</name>
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      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI BANKING CORP NY</name>
        <lei>549300MS3WYYVQ4HXM15</lei>
        <title>SUMITOMO MITSUI BANKING CORP/NEW YORK CERTIFICATE OF DEPOSIT VARIABLE 18/NOV/2026 USD 1000</title>
        <cusip>86565GD23</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="86565GD23"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3000174.00000000</valUSD>
        <pctVal>0.273439626727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.91000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3000174.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TORONTO DOMINION NY</name>
        <lei>N/A</lei>
        <title>TORONTO-DOMINION BANK/NY CERTIFICATE OF DEPOSIT VARIABLE 09/OCT/2026 USD 1000</title>
        <cusip>89115DXV3</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="89115DXV3"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2000466.00000000</valUSD>
        <pctVal>0.182324983924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.96000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2000466.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTPAC BKG CORP, NEW YORK</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CORP COMMERCIAL PAPER VARIABLE 15/OCT/2026 USD</title>
        <cusip>9612CABL0</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="9612CABL0"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3000432.00000000</valUSD>
        <pctVal>0.273463141171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3000432.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Effective August 17, 2026, the Fund's name was changed from FlexShares High Yield Value-Scored Bond Index Fund to Northern Trust High Yield Value-Scored Bond ETF. An amended Prospectus was electronically filed with the Commission on August 14, 2026 (Accession No. 0001193125-26-352141)." noteItem="A.2.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-31</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>
  <documents>XXXX</documents>
</edgarSubmission>
