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        <name>Amgen Inc.</name>
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        <name>Anheuser-Busch InBev Worldwide Inc.</name>
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        <name>Apple Inc.</name>
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        <name>Apple Inc.</name>
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        <name>Apple Inc.</name>
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        <name>AstraZeneca PLC</name>
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        <name>Avantor Funding Inc</name>
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        <name>B.A.T. Capital Corporation</name>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Bausch Plus Lomb Corp.</name>
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        <name>Boeing Co.</name>
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        <name>Boeing Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co.</name>
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        <title>BA 5.15 05/01/30</title>
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          <isin value="US097023CY98"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <name>Boeing Co.</name>
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        <title>BA 2.196 02/04/26</title>
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          <isin value="US097023DG73"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-04</maturityDt>
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      <invstOrSec>
        <name>Brand Industrial Services Inc.</name>
        <lei>549300B658W2BPDQMW42</lei>
        <title>BRANDI 10 3/8 08/01/30</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Bristol-Myers Squibb Company</name>
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        <name>British Telecommunications PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Broadcom Inc</name>
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        <name>Broadcom Inc</name>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <name>CVS Health Corp</name>
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        <name>Caesars Entertainment Inc.</name>
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        <name>Chart Industries Inc</name>
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        <name>Cheniere Energy Partners Lp</name>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C 4.45 09/29/27</title>
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        <name>Citigroup Inc.</name>
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        <name>Citigroup Inc.</name>
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        <name>Civitas Resources Inc</name>
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        <name>Civitas Resources Inc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>Cloud Software Group Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>TIBX 9 09/30/29</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-30</maturityDt>
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        <name>Comcast Corporation</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>CMCSA 4.6 10/15/38</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-10-15</maturityDt>
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        <name>Comcast Corporation</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>CMCSA 4.7 10/15/48</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-15</maturityDt>
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      <invstOrSec>
        <name>Comcast Corporation</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>CMCSA 2.887 11/01/51</title>
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          <isin value="US20030NDS71"/>
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        <balance>155000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
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      <invstOrSec>
        <name>Comcast Corporation</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>CMCSA 2.937 11/01/56</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-11-01</maturityDt>
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          <annualizedRt>2.93700000</annualizedRt>
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      <invstOrSec>
        <name>Comcast Corporation</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>CMCSA 5.168 01/15/37</title>
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          <isin value="US20030NES62"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-15</maturityDt>
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        <name>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>COP 6 1/2 02/01/39</title>
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          <isin value="US20825CAQ78"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-02-01</maturityDt>
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        <name>ConocoPhillips Co.</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>COP 4.025 03/15/62</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Continental Resources, Inc.</name>
        <lei>XXRTID9RYWOZ0UPIVR53</lei>
        <title>CLR 5 3/4 01/15/31</title>
        <cusip>212015AT8</cusip>
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        <name>Davita Inc</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DVA 4 5/8 06/01/30</title>
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        <name>Dell International LLC / EMC Corp.</name>
        <lei>254900ZARLSVK41DKO78</lei>
        <title>DELL 6.02 06/15/26</title>
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        <name>Deutsche Telekom International Finance B.V.</name>
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        <name>Directv Financing LLC/Directv Financing Co-Obligor Inc.</name>
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        <title>DTV 5 7/8 08/15/27</title>
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        <name>DISH Network Corporation</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH 11 3/4 11/15/27</title>
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        <name>DISH DBS Corporation</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EMRLD Borrower LP / Emerald Co-Issuer Inc.</name>
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        <title>EMECLI 6 5/8 12/15/30</title>
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          <isin value="US29103CAA62"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FirstEnergy Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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        <name>Orange SA</name>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Freeport-McMoRan Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
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        <name>Frontier Communications Holdings Llc</name>
        <lei>N/A</lei>
        <title>FYBR 5 05/01/28</title>
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          <isin value="US35906ABF49"/>
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        <valUSD>119075.07000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>GE Aerospace</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
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        <balance>91000.00000000</balance>
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        <valUSD>102942.72000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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        <name>GlaxoSmithKline Capital Inc.</name>
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        <title>GSK 6 3/8 05/15/38</title>
        <cusip>377372AE7</cusip>
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        <balance>90000.00000000</balance>
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        <valUSD>100942.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-15</maturityDt>
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        <name>Goldman Sachs Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
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        <name>Goldman Sachs Group, Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GS 6 1/4 02/01/41</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-02-01</maturityDt>
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        <name>Goldman Sachs Group, Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GS 4.223 05/01/29</title>
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        <name>Goldman Sachs Group, Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GS 2.615 04/22/32</title>
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        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA 5 5/8 09/01/28</title>
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        <name>Kraft Heinz Foods Company</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>KHC 7 1/8 08/01/39</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Home Depot Inc.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HD 5 7/8 12/16/36</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-16</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Microsoft Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Microsoft Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Microsoft Corp.</name>
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        <name>Microsoft Corp.</name>
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        <name>Athenahealth Group Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MS 4.431 01/23/30</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-23</maturityDt>
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        <name>Morgan Stanley</name>
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        <title>MS 2.699 01/22/31</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <title>MS 1.593 05/04/27</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Medline Borrower LP</name>
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        <title>MEDIND 3 7/8 04/01/29</title>
        <cusip>62482BAA0</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Medline Borrower LP</name>
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        <title>MEDIND 5 1/4 10/01/29</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NCR Atleos Corp.</name>
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        <name>Neptune BidCo US Inc.</name>
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        <name>New Fortress Energy Inc.</name>
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        <name>Nexstar Media Inc.</name>
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        <name>Novelis Corporation</name>
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        <name>1011778 B.C. Unlimited Liability Company / New Red Finance, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>1011778 B.C. Unlimited Liability Company / New Red Finance, Inc.</name>
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        <name>SBA Communications Corp.</name>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <name>Shell Finance US Inc.</name>
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        <name>Standard Building Solutions Inc.</name>
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        <name>Tenet Healthcare Corporation</name>
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        <name>Tenet Healthcare Corporation</name>
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        <name>Tibco Software Inc</name>
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        <name>United States Treasury Bonds</name>
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        <name>United States Treasury Notes</name>
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        <name>RTX Corp.</name>
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        <name>Venture Global LNG Inc.</name>
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        <name>Venture Global LNG Inc.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 4 1/8 03/16/27</title>
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        <curCd>USD</curCd>
        <valUSD>83279.72000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 4 1/2 08/10/33</title>
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        <curCd>USD</curCd>
        <valUSD>100307.91000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 4.329 09/21/28</title>
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          <isin value="US92343VER15"/>
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        <balance>108000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108962.41000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.32900000</annualizedRt>
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        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 4.016 12/03/29</title>
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          <isin value="US92343VEU44"/>
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        <balance>113000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112377.09000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.01600000</annualizedRt>
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        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 3.55 03/22/51</title>
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        <curCd>USD</curCd>
        <valUSD>101631.43000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-03-22</maturityDt>
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          <annualizedRt>3.55000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 3.7 03/22/61</title>
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          <isin value="US92343VGC28"/>
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        <balance>128000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86500.81000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 2.55 03/21/31</title>
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          <isin value="US92343VGJ70"/>
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        <balance>112000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102371.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 3.4 03/22/41</title>
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          <isin value="US92343VGK44"/>
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        <balance>131000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102199.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>V 4.3 12/14/45</title>
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          <isin value="US92826CAF95"/>
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        <balance>111000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96643.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VOD 5 1/4 05/30/48</title>
        <cusip>92857WBM1</cusip>
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          <isin value="US92857WBM10"/>
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        <balance>107000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100215.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VOD 7 04/04/2079</title>
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        <valUSD>107616.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2079-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>Weatherford International Ltd Bermuda</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>WFRD 8 5/8 04/30/30</title>
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          <isin value="US947075AU14"/>
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        <valUSD>34824.23000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC 3 04/22/26</title>
        <cusip>949746RW3</cusip>
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          <isin value="US949746RW34"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2026-04-22</maturityDt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC 3 10/23/26</title>
        <cusip>949746SH5</cusip>
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          <isin value="US949746SH57"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2026-10-23</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC 2.879 10/30/30</title>
        <cusip>95000U2G7</cusip>
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          <isin value="US95000U2G70"/>
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          <maturityDt>2030-10-30</maturityDt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC 5.013 04/04/51</title>
        <cusip>95000U2M4</cusip>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-04-04</maturityDt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC 3.068 04/30/41</title>
        <cusip>95000U2Q5</cusip>
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          <isin value="US95000U2Q52"/>
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        <balance>144000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.06800000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC 2.393 06/02/28</title>
        <cusip>95000U2S1</cusip>
        <identifiers>
          <isin value="US95000U2S19"/>
        </identifiers>
        <balance>109000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106765.04000000</valUSD>
        <pctVal>0.255739340968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.39300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wesco Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WCC 7 1/4 06/15/28</title>
        <cusip>95081QAP9</cusip>
        <identifiers>
          <isin value="US95081QAP90"/>
        </identifiers>
        <balance>101000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102263.51000000</valUSD>
        <pctVal>0.244956613630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Digital Corp.</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>WDC 4 3/4 02/15/26</title>
        <cusip>958102AM7</cusip>
        <identifiers>
          <isin value="US958102AM75"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9000.61000000</valUSD>
        <pctVal>0.021559586075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBH SWEEP VEHICLE</name>
        <lei>N/A</lei>
        <title>BBH SWEEP VEHICLE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BBHETFMM"/>
        </identifiers>
        <balance>1764931.59000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1764931.59000000</valUSD>
        <pctVal>4.227623964558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="sweep" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-02-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Two Roads Shared Trust</ncom:nameOfApplicant>
      <ncom:signature>Laura Szalyga</ncom:signature>
      <ncom:signerName>Laura Szalyga</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
