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        <name>JEFFERIES FIN LLC  5% 08/15/28</name>
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        <name>MINSUR SA 4.5% 10/28/31</name>
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          <isin value="US29360AAB61"/>
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        <name>TIERRA MOJADA L 5.75% 12/01/40</name>
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      <invstOrSec>
        <name>BANK OF NY MELLON C V/R /PERP/</name>
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        <cusip>064058AH3</cusip>
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        <name>TACORA RESOURCES  13% 11/03/23</name>
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        <name>GOLDMAN SACHS GROUP V/R /PERP/</name>
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        <name>SOUTHERN CO V/R 01/15/51</name>
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        <name>USA COM PART/U 7.125% 03/15/29</name>
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        <name>OCEANEERING INTL I 6% 02/01/28</name>
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        <name>ADANI TRANS STE 4.25% 05/21/36</name>
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        <name>FARM CREDIT BK OF T V/R /PERP/</name>
        <lei>V1EBJIOLRNYDHDF63Z33</lei>
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        <name>AXIS SPECIALTY FI V/R 01/15/40</name>
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        <name>ASPEN INSURANCE HLDG LTD /PFD/</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VMED O2 UK FINA 4.75% 07/15/31</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BARCLAYS PLC V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CROWN AMER/CAP  4.25% 09/30/26</name>
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        <lei>GIE4CCPBJDI8SMV1OX95</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPA V/R /PERP/</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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      <invstOrSec>
        <name>CIENA CORP 4% 01/31/30</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTELSAT JACKSON 6.5% 03/15/30</name>
        <lei>N/A</lei>
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        <cusip>45824TBC8</cusip>
        <identifiers>
          <isin value="US45824TBC80"/>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO V/R /PERP/</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PRUDENTIAL FINANC V/R 03/01/52</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
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      <invstOrSec>
        <name>KEYCORP V/R /PERP/</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
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        <name>ARIS MINING CORP 8% 10/31/29</name>
        <lei>5493001GJ5TILX6L1F82</lei>
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        <name>NEXTERA ENERGY CA V/R 06/15/54</name>
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      <invstOrSec>
        <name>CCO HLDGS LLC/C 4.75% 03/01/30</name>
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        <name>GRAN TIERRA ENER 9.5% 10/15/29</name>
        <lei>549300IH2S17MAIUCM32</lei>
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        <curCd>USD</curCd>
        <valUSD>2861115.81000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SYNCHRONY FINAN 7.25% 02/02/33</name>
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        <name>TRANSCANADA TRUST V/R 09/15/79</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CEMEX SAB DE CV V/R /PERP/</name>
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        <name>BUFFALO ENERGY 7.875% 02/15/39</name>
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        <cusip>11952AAA0</cusip>
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        <name>SOUTH BOW CAN INF V/R 03/01/55</name>
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        <cusip>836720AH5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>VISTRA CORP V/R /PERP/</name>
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        <name>CANNABIST CO HLD 9.5% 02/03/26</name>
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        <name>RINGCENTRAL INC 8.5% 08/15/30</name>
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        <name>DELIVERY  2.125% 03/10/29/EUR/</name>
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        <name>ALBERTSONS COS 4.625% 01/15/27</name>
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        <name>NEWELL BRANDS INC 7% 04/01/46</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
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      <invstOrSec>
        <name>COBANK ACB V/R /PERP/</name>
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        <name>ECOPETROL SA 6.875% 04/29/30</name>
        <lei>N/A</lei>
        <title>ECOPETROL SA REGD 6.87500000</title>
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        <balance>2000000.00000000</balance>
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        <name>SEAGATE HDD CA 9.625% 12/01/32</name>
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        <name>ASPEN INSURANCE HLDG LTD /PFD/</name>
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        <name>ENERGY TRANSFER L V/R 05/15/54</name>
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        <name>LEAFLY HLDGS WT EX 01/17/2027</name>
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          <isin value="US52178J1135"/>
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        <name>XPO INC 6.25% 06/01/28</name>
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        <name>COBANK ACB /PFD/</name>
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        <name>VOYA FINANCIAL INC V/R /PERP/</name>
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        <name>MILLICOM INTL  5.125% 01/15/28</name>
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        <name>MCDERMOTT WT EX 12/31/2049</name>
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        <name>GEO GROUP INC/ 10.25% 04/15/31</name>
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        <name>ILIAD HOLDING SA 8.5% 04/15/31</name>
        <lei>9695009PXA7OI9NXN582</lei>
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          <isin value="US7593518027"/>
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        <curCd>USD</curCd>
        <valUSD>338395.50000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BANCO DO BRASIL (CA V/R /PERP/</name>
        <lei>N/A</lei>
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          <isin value="USG07402DP58"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TERRAFORM POWER 4.75% 01/15/30</name>
        <lei>N/A</lei>
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        <cusip>88104LAG8</cusip>
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          <isin value="US88104LAG86"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAMELOT RETURN  8.75% 08/01/28</name>
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          <isin value="US13323NAA00"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANCO INTERNAC DE V/R 07/08/30</name>
        <lei>N/A</lei>
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          <isin value="USP13435AD71"/>
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        <balance>4900000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VODAFONE GROUP PL V/R 04/04/79</name>
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        <identifiers>
          <isin value="US92857WBQ24"/>
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        <balance>500000.00000000</balance>
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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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      <invstOrSec>
        <name>ALLEGIANT TRAVE 7.25% 08/15/27</name>
        <lei>549300JM9OZXOHWL2K18</lei>
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        <cusip>01748XAD4</cusip>
        <identifiers>
          <isin value="US01748XAD49"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>JSW INFRASTRUCT 4.95% 01/21/29</name>
        <lei>N/A</lei>
        <title>JSW INFRASTRUCTURE REGD REG S EMTN 4.95000000</title>
        <cusip>Y4470XAA1</cusip>
        <identifiers>
          <isin value="USY4470XAA10"/>
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        <balance>700000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>668735.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>P/O ISHARES IBOXX  JAN 77.000</name>
        <lei>N/A</lei>
        <title>PUT OPTION ON 100SHS           ISHARES IBOXX   HI JAN 77.000 0.00000000</title>
        <cusip>1WG9993S1</cusip>
        <identifiers>
          <ticker value="HYG250117P00077000"/>
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        <balance>-180.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2160.00000000</valUSD>
        <pctVal>-0.00028249739</pctVal>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>RAYMOND JAMES AND ASSOCIATES</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>P/O ISHARES IBOXX  JAN 77.000</issuerName>
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      <invstOrSec>
        <name>T/L ELEVATE TEX 0% 09/30/27</name>
        <lei>N/A</lei>
        <title>T/L ELEVATE TEXTILES INC REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX213116"/>
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        <balance>333312.38000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>336645.50000000</valUSD>
        <pctVal>0.044028460756</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TRANSPORT DE GA 4.25% 04/30/28</name>
        <lei>529900SKHHNI5HVI0Y66</lei>
        <title>TRANSPORT DE GAS PERU REGD 4.25000000</title>
        <cusip>P9367RAG6</cusip>
        <identifiers>
          <isin value="USP9367RAG67"/>
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        <balance>800000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>784389.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>BRASKEM NETHERL 7.25% 02/13/33</name>
        <lei>N/A</lei>
        <title>BRASKEM NETHERLANDS REGD REG S 7.25000000</title>
        <cusip>N15516AG7</cusip>
        <identifiers>
          <isin value="USN15516AG70"/>
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        <balance>1500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1446079.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CLEARWAY ENERGY 4.75% 03/15/28</name>
        <lei>N/A</lei>
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        <cusip>18539UAC9</cusip>
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          <isin value="US18539UAC99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AES ANDES SA V/R 06/10/55</name>
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        <title>AES ANDES SA REGD V/R 144A P/P 8.15000000</title>
        <cusip>00111VAC1</cusip>
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          <isin value="US00111VAC19"/>
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        <balance>200000.00000000</balance>
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        <valUSD>204548.80000000</valUSD>
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        <invCountry>CL</invCountry>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>UPBOUND GROUP  6.375% 02/15/29</name>
        <lei>529900QUHE15UQNCCJ63</lei>
        <title>UPBOUND GROUP INC REGD 144A P/P 6.37500000</title>
        <cusip>76009NAL4</cusip>
        <identifiers>
          <isin value="US76009NAL47"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1764803.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AUDACY CAPITAL WT EX 10/24/25</name>
        <lei>N/A</lei>
        <title>AUDACY CAPITAL SPECIAL  WARRANTS WARRANTS EXP 10/24/25 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="346CDZ"/>
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        <balance>14538.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>290760.00000000</valUSD>
        <pctVal>0.038027287605</pctVal>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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              <counterpartyName>N/A</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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            <principalAmt>14538.00000000</principalAmt>
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            <exercisePrice>0.00000000</exercisePrice>
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            <expDt>2025-10-24</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>290760.00000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR LEASE CORP V/R /PERP/</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP REGD V/R /PERP/ SER B 4.65000000</title>
        <cusip>00912XBJ2</cusip>
        <identifiers>
          <isin value="US00912XBJ28"/>
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        <balance>300000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>292886.70000000</valUSD>
        <pctVal>0.038305429827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET CORP V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PHINIA INC 6.75% 04/15/29</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LD CELULOSE INT 7.95% 01/26/32</name>
        <lei>N/A</lei>
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        <cusip>50206BAA0</cusip>
        <identifiers>
          <isin value="US50206BAA08"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1530468.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PETROLEOS DEL  5.625% 06/19/47</name>
        <lei>N/A</lei>
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        <balance>4300000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WYNDHAM HOTELS 4.375% 08/15/28</name>
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        <balance>850000.00000000</balance>
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      <invstOrSec>
        <name>NATWEST GROUP PLC V/R /PERP/</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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      <invstOrSec>
        <name>CCO HLDGS LLC/ 5.375% 06/01/29</name>
        <lei>N/A</lei>
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        <cusip>1248EPCB7</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CIA DE MINAS BUE 5.5% 07/23/26</name>
        <lei>529900WQB1ZU9KB6EL71</lei>
        <title>CIA DE MINAS BUENAVENTUR REGD REG S 5.50000000</title>
        <cusip>P6680PAA9</cusip>
        <identifiers>
          <isin value="USP6680PAA95"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4482273.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-23</maturityDt>
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      <invstOrSec>
        <name>TRI POINTE HOME 5.25% 06/01/27</name>
        <lei>N/A</lei>
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        <cusip>87265HAF6</cusip>
        <identifiers>
          <isin value="US87265HAF64"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148687.98000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AEGON LTD V/R 04/11/48</name>
        <lei>O4QK7KMMK83ITNTHUG69</lei>
        <title>AEGON LTD REGD V/R 5.50000000</title>
        <cusip>007924AJ2</cusip>
        <identifiers>
          <isin value="US007924AJ23"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS GROUP AG V/R /PERP/</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
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        <cusip>902613BE7</cusip>
        <identifiers>
          <isin value="US902613BE74"/>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARKS &amp; SPENCE 7.125% 12/01/37</name>
        <lei>N/A</lei>
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        <cusip>57069PAA0</cusip>
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          <isin value="US57069PAA03"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MV24 CAPITAL B 6.748% 06/01/34</name>
        <lei>N/A</lei>
        <title>MV24 CAPITAL BV REGD REG S 6.74800000</title>
        <cusip>N53766AA4</cusip>
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          <isin value="USN53766AA41"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DIGICEL GROUP HOL ZCP 12/31/30</name>
        <lei>N/A</lei>
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        <cusip>25381HAP3</cusip>
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        <curCd>USD</curCd>
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        <invCountry>JM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>T/L INOTIV INC. 0% 11/05/26</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS V/R /PERP/</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <cusip>05565AM34</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205463.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2173-02-16</maturityDt>
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      <invstOrSec>
        <name>INTENO GROUP V/R 09/06/26/EUR/</name>
        <lei>N/A</lei>
        <title>INTENO GROUP /EUR/ REGD V/R REG S 10.94900000</title>
        <cusip>W3R22JAA0</cusip>
        <identifiers>
          <isin value="SE0018040891"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEGLOBAL CANADA UL 5% 05/18/25</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NATWEST GROUP PLC V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CUSHMAN &amp; WAKE 8.875% 09/01/31</name>
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        <cusip>23166MAC7</cusip>
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      <invstOrSec>
        <name>C&amp;S GROUP ENTERPRI 5% 12/15/28</name>
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          <isin value="US12467AAF57"/>
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        <balance>250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>QBE INSURANCE GRO V/R 12/02/44</name>
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          <isin value="XS1144495808"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VFH PARENT / VAL 7.5% 06/15/31</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CORNERSTONE BUIL 9.5% 08/15/29</name>
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        <cusip>21925DAB5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP V/R /PERP/</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
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        <cusip>316773DB3</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLY FINANCIAL INC V/R /PERP/</name>
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        <cusip>02005NBN9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>MERLIN ENTERTA 7.375% 02/15/31</name>
        <lei>N/A</lei>
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        <cusip>59010UAA5</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATIO V/R /PERP/</name>
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        <name>ADANI ELECTRIC 3.949% 02/12/30</name>
        <lei>N/A</lei>
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        <cusip>Y0R1SDAA1</cusip>
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        <name>T/L HIGHPEAK ENER 0% 09/30/26</name>
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        <name>CHILE ELEC PEC SP ZCP 01/25/28</name>
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        <invCountry>CL</invCountry>
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        <name>DIGICEL GROUP HOL ZCP 12/31/30</name>
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        <invCountry>JM</invCountry>
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        <name>BROOKFIELD PPTY  4.5% 04/01/27</name>
        <lei>N/A</lei>
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        <name>LAND O'LAKES INC 7.25% /PERP/</name>
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      <invstOrSec>
        <name>ADANI PORTS AND  4.2% 08/04/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MINERVA LUXEMB 8.875% 09/13/33</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AECOM 5.125% 03/15/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC V/R /PERP/</name>
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        <name>MOVIDA EUROPE S 7.85% 04/11/29</name>
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      <invstOrSec>
        <name>IMPALA GROUP 12% 10/30/27/SEK/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>T/L AUDACY CAPITA ZCP 09/30/29</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ITT HOLDINGS LLC 6.5% 08/01/29</name>
        <lei>N/A</lei>
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          <isin value="US45074JAA25"/>
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        <name>T/L M2S GROUP HOLD 0% 08/22/31</name>
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        <name>XTRACKERS USD HIGH YIELD COR</name>
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        <name>TEGNA INC 5% 09/15/29</name>
        <lei>549300YC5EDBGX85AO10</lei>
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        <name>ING GROEP NV V/R /PERP/</name>
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        <name>CPI CG INC 10% 07/15/29</name>
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        <name>PNC FINANCIAL SERVI V/R /PERP/</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>INVEPAR A-1 0% 12/30/2028</name>
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        <name>HSBC HOLDINGS PLC V/R /PERP/</name>
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        <name>GOLDMAN SACHS GROUP V/R /PERP/</name>
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        <name>T/L UNITED NATURA ZCP 05/01/31</name>
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        <name>GENERAL MOTORS FINL V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED OVERSEAS B V/R 03/16/31</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
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        <cusip>Y9T10P5L5</cusip>
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          <isin value="XS2230275633"/>
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        <invCountry>SG</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>UPHEALTH INC</name>
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        <name>AXIS CAPITAL HLDGS LTD /PFD/</name>
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        <name>BANCO EST RIO GRA V/R 01/28/31</name>
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        <cusip>P12445AC9</cusip>
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        <name>ALCOA NEDERLAN 7.125% 03/15/31</name>
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          <isin value="US013822AH42"/>
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        <name>BANCO MERCANTIL DE  V/R /PERP/</name>
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        <name>UNITED NATURAL  6.75% 10/15/28</name>
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        <name>RESORTS WORLD/ 4.625% 04/16/29</name>
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        <lei>529900JFA3K6PTLT8B15</lei>
        <title>CORECIVIC INC REGD 8.25000000</title>
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        <issuerCat>CORP</issuerCat>
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        <name>REGIONS FINANCIAL C V/R /PERP/</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
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      <invstOrSec>
        <name>NRG ENERGY INC 3.625% 02/15/31</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>RR DONNELLEY &amp; S 9.5% 08/01/29</name>
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      <invstOrSec>
        <name>SOCIETE GENERALE V/R /PERP/</name>
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        <name>AERCAP GLOBAL AVI V/R 06/15/45</name>
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      <invstOrSec>
        <name>VISTRA CORP V/R /PERP/</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>VISTRA CORP REGD V/R /PERP/ 144A P/P SER C 8.87500000</title>
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      <invstOrSec>
        <name>ADANI PORTS AND SP 4% 07/30/27</name>
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          <isin value="XS1636266832"/>
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        <name>T/L TPC GROUP INC 0% 11/21/31</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="LOANX" value="LX253196"/>
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      <invstOrSec>
        <name>T/L MOUNTAIN 0% 10/26/28</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>BBVA BANCOMER SA  V/R 09/13/34</name>
        <lei>N/A</lei>
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        <name>OVERSEA-CHINESE B V/R 09/10/30</name>
        <lei>5493007O3QFXCPOGWK22</lei>
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      <invstOrSec>
        <name>CENTURY COMMUN 3.875% 08/15/29</name>
        <lei>5299002QMB2O7ZL1CA26</lei>
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        <cusip>156504AM4</cusip>
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        <name>T/L GEMMACERT LTD 0% 05/19/24</name>
        <lei>N/A</lei>
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        <name>ARGO BLOCKCHAIN PLC /PFD/</name>
        <lei>213800WPCCYSDYY26J54</lei>
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        <name>INRETAIL SHOPPI 5.75% 04/03/28</name>
        <lei>N/A</lei>
        <title>INRETAIL SHOPPIN REGD REG S 5.75000000</title>
        <cusip>P56243AD3</cusip>
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          <isin value="USP56243AD31"/>
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        <name>MIDCAP FINANCIAL 6.5% 05/01/28</name>
        <lei>N/A</lei>
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        <name>NORDSTROM INC 5% 01/15/44</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>NORDSTROM INC REGD 5.00000000</title>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DT MIDSTREAM I 4.375% 06/15/31</name>
        <lei>N/A</lei>
        <title>DT MIDSTREAM INC REGD 144A P/P 4.37500000</title>
        <cusip>23345MAB3</cusip>
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      <invstOrSec>
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      <invstOrSec>
        <name>ADTALEM GLOBAL E 5.5% 03/01/28</name>
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        <name>CANADIAN PACIFI 1.35% 12/02/24</name>
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        <name>PRUMO PARTICIPAC 7.5% 12/31/31</name>
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        <name>GNL QUINTERO S 4.634% 07/31/29</name>
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        <name>SINCLAIR TELEV 4.125% 12/01/30</name>
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        <name>C/O ISHARES IBOXX  JAN 79.000</name>
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        <name>ENOVA INTERNAT 11.25% 12/15/28</name>
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        <name>HUNT OIL CO OF 6.375% 06/01/28</name>
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        <name>BANCOLOMBIA SA V/R 12/24/34</name>
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        <name>NRG ENERGY INC 3.875% 02/15/32</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>SM ENERGY CO 6.5% 07/15/28</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <name>RUTAS 2 &amp; 7 FINAN ZCP 09/30/36</name>
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      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL ATLANTIC F V/R 10/15/54</name>
        <lei>N/A</lei>
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        <cusip>37959GAG2</cusip>
        <identifiers>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DAIRY FARMERS OF 7.125% /PERP/</name>
        <lei>1LTUIZEFFT7MUIERI838</lei>
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        <cusip>23385HAA7</cusip>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>487050.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROCKIES EXPRES 6.875% 04/15/40</name>
        <lei>N/A</lei>
        <title>ROCKIES EXPRESS PIPELINE REGD P/P 6.87500000</title>
        <cusip>77340RAM9</cusip>
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          <isin value="US77340RAM97"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>725218.13000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANCO DE CREDITO  V/R 07/01/30</name>
        <lei>N/A</lei>
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        <cusip>05971V2C8</cusip>
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          <isin value="US05971V2C81"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1859191.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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      <invstOrSec>
        <name>TEGNA INC 4.625% 03/15/28</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA INC REGD 4.62500000</title>
        <cusip>87901JAJ4</cusip>
        <identifiers>
          <isin value="US87901JAJ43"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522833.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MEDCO OAK TREE 7.375% 05/14/26</name>
        <lei>N/A</lei>
        <title>MEDCO OAK TREE PTE LTD REGD REG S 7.37500000</title>
        <cusip>Y59501AA7</cusip>
        <identifiers>
          <isin value="USY59501AA78"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>REPUBLIC OF GUA 5.25% 08/10/29</name>
        <lei>N/A</lei>
        <title>REPUBLIC OF GUATEMALA REGD REG S 5.25000000</title>
        <cusip>P5015VAP1</cusip>
        <identifiers>
          <isin value="USP5015VAP15"/>
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        <balance>1800000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>GT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>INFRABUILD AUST 14.5% 11/15/28</name>
        <lei>N/A</lei>
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        <cusip>45682RAC4</cusip>
        <identifiers>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP V/R /PERP/</name>
        <lei>549300VSGCJ7E698NM85</lei>
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        <cusip>808513BK0</cusip>
        <identifiers>
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        <balance>400000.00000000</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>2173-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>BUZZFEED INC 8.5% 12/03/26</name>
        <lei>N/A</lei>
        <title>BUZZFEED INC REGD 144A P/P CONVERTIBLE 8.50000000</title>
        <cusip>28250AAA3</cusip>
        <identifiers>
          <isin value="US28250AAA34"/>
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        <curCd>USD</curCd>
        <valUSD>6699630.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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        <name>SEMPRA V/R 04/01/52</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
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        <cusip>816851BM0</cusip>
        <identifiers>
          <isin value="US816851BM02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MEDCO LAUREL TR 6.95% 11/12/28</name>
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          <isin value="USY59500AA95"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NATIONSTAR MTG H 5.5% 08/15/28</name>
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        <name>T/L CHOBANI LLC 0% 10/25/2027</name>
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          <other otherDesc="LOANX" value="LX190408"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AI CANDELARIA -S 7.5% 12/15/28</name>
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        <cusip>E0R75QAA6</cusip>
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          <isin value="USE0R75QAA61"/>
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        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KEYCORP /PREFERRED/</name>
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          <isin value="US4932677028"/>
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        <balance>12760.00000000</balance>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ICAHN ENTERPRIS 6.25% 05/15/26</name>
        <lei>N/A</lei>
        <title>ICAHN ENTERPRISES/FIN REGD SER WI 6.25000000</title>
        <cusip>451102BT3</cusip>
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          <isin value="US451102BT32"/>
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        <balance>4279000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4216957.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>GENWORTH HOLDING 6.5% 06/15/34</name>
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        <name>NATWEST GROUP PLC V/R /PERP/</name>
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        <name>KUO SAB DE CV 5.75% 07/07/27</name>
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        <name>99 CENTS ONLY ST 7.5% 01/15/26</name>
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        <name>UBS GROUP AG V/R /PERP/</name>
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        <name>PARAMOUNT GLOBAL V/R 03/30/62</name>
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      <invstOrSec>
        <name>RAKUTEN GROUP  11.25% 02/15/27</name>
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        <name>DBS GROUP HOLDING V/R 03/10/31</name>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC V/R /PERP/</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC REGD V/R /PERP/ SER *** 6.87500000</title>
        <cusip>404280EH8</cusip>
        <identifiers>
          <isin value="US404280EH85"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2173-03-11</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>RESORTS WORLD/R 8.45% 07/27/30</name>
        <lei>N/A</lei>
        <title>RESORTS WORLD/RWLV CAP REGD 144A P/P 8.45000000</title>
        <cusip>76120HAD9</cusip>
        <identifiers>
          <isin value="US76120HAD98"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1254177.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-27</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>FENIX POWER PE 4.317% 09/20/27</name>
        <lei>N/A</lei>
        <title>FENIX POWER PERU SA REGD REG S 4.31700000</title>
        <cusip>P40070AB3</cusip>
        <identifiers>
          <isin value="USP40070AB35"/>
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        <balance>1485294.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1444879.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CERDIA FINANZ  9.375% 10/03/31</name>
        <lei>N/A</lei>
        <title>CERDIA FINANZ GMBH REGD 144A P/P 9.37500000</title>
        <cusip>15679GAC6</cusip>
        <identifiers>
          <isin value="US15679GAC69"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRIDIEN 8.75% 04/01/27</name>
        <lei>969500FCVQ5SLAAUJV59</lei>
        <title>VIRIDIEN REGD 144A P/P 8.75000000</title>
        <cusip>12531TAF6</cusip>
        <identifiers>
          <isin value="US12531TAF66"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>195297.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MILLICOM INTL C 6.25% 03/25/29</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>MILLICOM INTL CELLULAR REGD REG S 6.25000000</title>
        <cusip>L6388GHV5</cusip>
        <identifiers>
          <isin value="USL6388GHV51"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>892892.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG V/R /PERP/</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>DEUTSCHE BANK AG REGD V/R /PERP/ SER 2020 6.00000000</title>
        <cusip>251525AX9</cusip>
        <identifiers>
          <isin value="US251525AX97"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>587985.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-04-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANCO INDUSTRIAL  V/R 01/29/31</name>
        <lei>N/A</lei>
        <title>BANCO INDUSTRIAL SA REGD V/R REG S 4.87500000</title>
        <cusip>P13458AB3</cusip>
        <identifiers>
          <isin value="USP13458AB34"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2450625.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUMMIT MIDSTRE 8.625% 10/31/29</name>
        <lei>N/A</lei>
        <title>SUMMIT MIDSTREAM HOLDING REGD 144A P/P 8.62500000</title>
        <cusip>86614JAA3</cusip>
        <identifiers>
          <isin value="US86614JAA34"/>
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        <balance>2706000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2831513.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREEPORT INDON 4.763% 04/14/27</name>
        <lei>549300T4HTQHRKLNE619</lei>
        <title>FREEPORT INDONESIA PT REGD REG S EMTN 4.76300000</title>
        <cusip>Y7141BAA1</cusip>
        <identifiers>
          <isin value="USY7141BAA18"/>
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        <balance>3500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3475320.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.76300000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA COR V/R /PERP/</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP REGD V/R /PERP/ SER DD 6.30000000</title>
        <cusip>060505EU4</cusip>
        <identifiers>
          <isin value="US060505EU46"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1111019.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-09-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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      <invstOrSec>
        <name>EMPRESA ELECTR 4.875% 05/25/29</name>
        <lei>N/A</lei>
        <title>EMPRESA ELECTRICA ANGAMO REGD 4.87500000</title>
        <cusip>P3713QAA5</cusip>
        <identifiers>
          <isin value="USP3713QAA50"/>
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        <balance>273700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>245645.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>ENERGY TRANSFER L V/R 10/01/54</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP REGD V/R 7.12500000</title>
        <cusip>29273VBC3</cusip>
        <identifiers>
          <isin value="US29273VBC37"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203624.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>KINETIK HOLDIN 6.625% 12/15/28</name>
        <lei>N/A</lei>
        <title>KINETIK HOLDINGS LP REGD 144A P/P 6.62500000</title>
        <cusip>49461MAB6</cusip>
        <identifiers>
          <isin value="US49461MAB63"/>
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        <balance>1750000.00000000</balance>
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        <valUSD>1791820.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <name>BANCO SANTANDER SA V/R /PERP/</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA REGD V/R /PERP/ 8.00000000</title>
        <cusip>05964HBH7</cusip>
        <identifiers>
          <isin value="US05964HBH75"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>618948.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN ELECTRIC V/R 02/15/62</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>AMERICAN ELECTRIC POWER REGD V/R 3.87500000</title>
        <cusip>025537AU5</cusip>
        <identifiers>
          <isin value="US025537AU52"/>
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        <balance>160000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>151162.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>LANDSEA HOMES  8.875% 04/01/29</name>
        <lei>549300RP8AZAKHNILS36</lei>
        <title>LANDSEA HOMES CORP REGD 144A P/P 8.87500000</title>
        <cusip>51509PAA1</cusip>
        <identifiers>
          <isin value="US51509PAA12"/>
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        <balance>750000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>769005.27000000</valUSD>
        <pctVal>0.100574991650</pctVal>
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      <invstOrSec>
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      <invstOrSec>
        <name>T/L TRULITE HOLDIN 0% 02/22/30</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KEYCORP /PFD/</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MINERVA LUXEMB 8.875% 09/13/33</name>
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        <name>TRANSCANADA TRUST V/R 03/07/82</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CANACOL ENERGY  5.75% 11/24/28</name>
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      <invstOrSec>
        <name>PARTNERRE FINANCE V/R 10/01/50</name>
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          <isin value="US70213BAC54"/>
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        <name>AEROPUERTOS DOMINI 7% 06/30/34</name>
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        <name>ING GROEP NV V/R /PERP/</name>
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      <invstOrSec>
        <name>COBANK ACB V/R /PERP/</name>
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        <name>COHERENT CORP 5% 12/15/29</name>
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        <name>IRON MOUNTAIN INFO 5% 07/15/32</name>
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        <name>BIOCEANICO SOVERE ZCP 06/05/34</name>
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        <name>CITIGROUP INC V/R /PERP/</name>
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        <name>STOCKWIK FOR V/R 03/20/26/SEK/</name>
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        <name>PRA GROUP INC 8.875% 01/31/30</name>
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        <name>US BANCORP V/R /PERP/</name>
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        <name>FIRST CITIZENS BANC V/R /PERP/</name>
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        <name>ENBRIDGE INC V/R 01/15/83</name>
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        <name>AMERICAN EQUITY INVESTME /PFD/</name>
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        <name>ILFC E-CAPITAL TR V/R 12/21/65</name>
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        <name>GENESIS ENERGY 7.875% 05/15/32</name>
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        <name>WELLS FARGO &amp; COMPA V/R /PERP/</name>
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        <name>CITIGROUP INC V/R /PERP/</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC REGD V/R /PERP/ SER T 6.25000000</title>
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        <name>EMERA INC V/R 06/15/76</name>
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        <name>ALBION FINANCI 6.125% 10/15/26</name>
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        <name>ESMAEILZADEH V/R 01/26/25/SEK/</name>
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        <name>PRIMO WATER HO 4.375% 04/30/29</name>
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        <name>CCO HLDGS LLC/CAP  5% 02/01/28</name>
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        <name>ASSURED GUARANTY  V/R 12/15/66</name>
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        <name>GOLDMAN SACHS GROUP V/R /PERP/</name>
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        <name>EDISON INTERNATIONA V/R /PERP/</name>
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        <name>PITNEY BOWES IN 7.25% 03/15/29</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP V/R 09/01/54</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
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          <isin value="US26441CCG87"/>
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        <curCd>USD</curCd>
        <valUSD>188830.18000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>COREBRIDGE FINANC V/R 09/15/54</name>
        <lei>549300XY1661QCIA7J65</lei>
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        <cusip>21871XAT6</cusip>
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          <isin value="US21871XAT63"/>
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        <balance>438000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>439519.42000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TRANSPRTDRA DE  5.55% 11/01/28</name>
        <lei>N/A</lei>
        <title>TRANSPRTDRA DE GAS INTL REGD REG S 5.55000000</title>
        <cusip>P93077AC2</cusip>
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          <isin value="USP93077AC28"/>
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        <curCd>USD</curCd>
        <valUSD>493078.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TRI POINTE HOMES 5.7% 06/15/28</name>
        <lei>N/A</lei>
        <title>TRI POINTE HOMES INC REGD 5.70000000</title>
        <cusip>87265HAG4</cusip>
        <identifiers>
          <isin value="US87265HAG48"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301013.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>GLOBAL PART/GLP 8.25% 01/15/32</name>
        <lei>N/A</lei>
        <title>GLOBAL PART/GLP FINANCE REGD 144A P/P 8.25000000</title>
        <cusip>37954FAK0</cusip>
        <identifiers>
          <isin value="US37954FAK03"/>
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        <balance>1350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1416921.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DISCOVER FINANCIAL  V/R /PERP/</name>
        <lei>Z1YLO2USPORE63VVUL20</lei>
        <title>DISCOVER FINANCIAL SVS REGD V/R /PERP/ SER C 5.50000000</title>
        <cusip>254709AN8</cusip>
        <identifiers>
          <isin value="US254709AN83"/>
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        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>121825.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-04-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>GLOBAL BANK CORPO V/R 04/16/29</name>
        <lei>N/A</lei>
        <title>GLOBAL BANK CORPORATION REGD V/R REG S 5.25000000</title>
        <cusip>P47718AE4</cusip>
        <identifiers>
          <isin value="USP47718AE43"/>
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        <balance>2000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1895000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>NATWEST GROUP PLC V/R /PERP/</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NATWEST GROUP PLC REGD V/R /PERP/ 7.30000000</title>
        <cusip>639057AT5</cusip>
        <identifiers>
          <isin value="US639057AT53"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>198804.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2172-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PENNYMAC FIN SV 5.75% 09/15/31</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PENNYMAC FIN SVCS INC REGD 144A P/P 5.75000000</title>
        <cusip>70932MAC1</cusip>
        <identifiers>
          <isin value="US70932MAC10"/>
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        <balance>1300000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1259122.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>OUTBRAIN INC</name>
        <lei>549300TNEHRXPVGWVW07</lei>
        <title>OUTBRAIN INC 0.00000000</title>
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          <isin value="US69002R1032"/>
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        <balance>7195.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39068.85000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SBL HOLDINGS INC V/R /PERP/</name>
        <lei>N/A</lei>
        <title>SBL HOLDINGS INC REGD V/R /PERP/ 144A P/P 7.00000000</title>
        <cusip>78397DAA6</cusip>
        <identifiers>
          <isin value="US78397DAA63"/>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>760579.94000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>TAYLOR MORRISO 5.125% 08/01/30</name>
        <lei>N/A</lei>
        <title>TAYLOR MORRISON COMM REGD 144A P/P 5.12500000</title>
        <cusip>87724RAJ1</cusip>
        <identifiers>
          <isin value="US87724RAJ14"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1171083.49000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CMS ENERGY CORP V/R 06/01/50</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP REGD V/R 4.75000000</title>
        <cusip>125896BU3</cusip>
        <identifiers>
          <isin value="US125896BU39"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LIGHT &amp; WONDER I 7.5% 09/01/31</name>
        <lei>N/A</lei>
        <title>LIGHT &amp; WONDER INTL INC REGD 144A P/P 7.50000000</title>
        <cusip>531968AA3</cusip>
        <identifiers>
          <isin value="US531968AA36"/>
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      <invstOrSec>
        <name>SECOP GROUP  V/R 12/29/26/EUR/</name>
        <lei>3912009IWWPURB35WO49</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DELIVERY HE 1.5% 01/15/28/EUR/</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>DELIVERY HERO AG /EUR/ REGD REG S CONVERTIBLE 1.50000000</title>
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          <isin value="DE000A3H2WQ0"/>
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        <balance>800000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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              <title>DELIVERY HERO</title>
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        <securityLending>
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      <invstOrSec>
        <name>ARSENAL AIC PAR 11.5% 10/01/31</name>
        <lei>N/A</lei>
        <title>ARSENAL AIC PARENT LLC REGD 144A P/P 11.50000000</title>
        <cusip>04288BAC4</cusip>
        <identifiers>
          <isin value="US04288BAC46"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>678205.80000000</valUSD>
        <pctVal>0.088699707704</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SERVICE CORP INTL 4% 05/15/31</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>SERVICE CORP INTL REGD 4.00000000</title>
        <cusip>817565CG7</cusip>
        <identifiers>
          <isin value="US817565CG79"/>
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        <balance>650000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>594214.36000000</valUSD>
        <pctVal>0.077714817605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RITHM CAPITAL CORP 8% 04/01/29</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>RITHM CAPITAL CORP REGD 144A P/P 8.00000000</title>
        <cusip>64828TAB8</cusip>
        <identifiers>
          <isin value="US64828TAB89"/>
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        <balance>1400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1403267.60000000</valUSD>
        <pctVal>0.183527516207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORESTAR GROUP  3.85% 05/15/26</name>
        <lei>N/A</lei>
        <title>FORESTAR GROUP INC REGD 144A P/P 3.85000000</title>
        <cusip>346232AF8</cusip>
        <identifiers>
          <isin value="US346232AF83"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1369310.88000000</valUSD>
        <pctVal>0.179086458436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EQUITY INVESTME /PFD/</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>AMERICAN EQUITY INVESTME      /PREFERRED/ 0.00000000</title>
        <cusip>025676867</cusip>
        <identifiers>
          <isin value="US0256768674"/>
        </identifiers>
        <balance>47341.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1219504.16000000</valUSD>
        <pctVal>0.159493862389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="227591.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>INTESA SANPAOLO SPA V/R /PERP/</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>INTESA SANPAOLO SPA REGD V/R /PERP/ P/P MTN 7.70000000</title>
        <cusip>46115HAU1</cusip>
        <identifiers>
          <isin value="US46115HAU14"/>
        </identifiers>
        <balance>485000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>484869.42000000</valUSD>
        <pctVal>0.063414048993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-03-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.70000000</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>OVERSEA-CHINESE B V/R 09/10/30</name>
        <lei>5493007O3QFXCPOGWK22</lei>
        <title>OVERSEA-CHINESE BANKING REGD V/R 1.83200000</title>
        <cusip>69033DAD9</cusip>
        <identifiers>
          <isin value="US69033DAD93"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2924852.88000000</valUSD>
        <pctVal>0.382529308265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.83200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>P/O ISHARES 1-3 YE JAN 82.000</name>
        <lei>N/A</lei>
        <title>PUT OPTION ON 100SHS           ISHARES 1-3 YEAR T JAN 82.000 0.00000000</title>
        <cusip>17I99CYJ3</cusip>
        <identifiers>
          <ticker value="SHY250117P00082000"/>
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        <balance>-180.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5400.00000000</valUSD>
        <pctVal>-0.00070624347</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>RAYMOND JAMES AND ASSOCIATES</counterpartyName>
              <counterpartyLei>U4ONQX15J3RO8XCKE979</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>P/O ISHARES 1-3 YE JAN 82.000</issuerName>
                <issueTitle>585265</issueTitle>
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                  <cusip value="464287457"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <principalAmt>-18000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>82.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2700.08000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAND PARENT LLC 8.5% 02/15/30</name>
        <lei>N/A</lei>
        <title>RAND PARENT LLC REGD 144A P/P 8.50000000</title>
        <cusip>753272AA1</cusip>
        <identifiers>
          <isin value="US753272AA11"/>
        </identifiers>
        <balance>1650000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1671656.10000000</valUSD>
        <pctVal>0.218628928642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIKING CRUISES 9.125% 07/15/31</name>
        <lei>N/A</lei>
        <title>VIKING CRUISES LTD REGD 144A P/P 9.12500000</title>
        <cusip>92676XAG2</cusip>
        <identifiers>
          <isin value="US92676XAG25"/>
        </identifiers>
        <balance>1150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1244886.50000000</valUSD>
        <pctVal>0.162813512764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY TRIPADVI 0.5% 06/30/51</name>
        <lei>5299006PCRAU736ZJ155</lei>
        <title>LIBERTY TRIPADVISOR HOLD REGD 144A P/P CONVERTIBLE 0.50000000</title>
        <cusip>531465AA0</cusip>
        <identifiers>
          <isin value="US531465AA00"/>
        </identifiers>
        <balance>3453000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3275515.80000000</valUSD>
        <pctVal>0.428391048915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>TRIPADVISOR INC</name>
              <title>TRIPADVISOR INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="896945201"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="14.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL  V/R /PERP/</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINANCIAL GROUP REGD V/R /PERP/ SER G 4.00000000</title>
        <cusip>174610BD6</cusip>
        <identifiers>
          <isin value="US174610BD66"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>189959.00000000</valUSD>
        <pctVal>0.024843945268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-10-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WARNERMEDIA HO 6.412% 03/15/26</name>
        <lei>N/A</lei>
        <title>WARNERMEDIA HOLDINGS INC REGD 6.41200000</title>
        <cusip>55903VBG7</cusip>
        <identifiers>
          <isin value="US55903VBG77"/>
        </identifiers>
        <balance>3975000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3975066.82000000</valUSD>
        <pctVal>0.519882408910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.41200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIEMEX ENERGIA  7.25% 01/31/41</name>
        <lei>N/A</lei>
        <title>FIEMEX ENERGIA - BANC AC REGD REG S 7.25000000</title>
        <cusip>P0R12RAA8</cusip>
        <identifiers>
          <isin value="USP0R12RAA88"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199730.00000000</valUSD>
        <pctVal>0.026121853602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRECISION DRIL 6.875% 01/15/29</name>
        <lei>549300WF2OE8T5BP4B84</lei>
        <title>PRECISION DRILLING CORP REGD 144A P/P 6.87500000</title>
        <cusip>740212AM7</cusip>
        <identifiers>
          <isin value="US740212AM74"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>400435.85000000</valUSD>
        <pctVal>0.052371334555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA COR V/R /PERP/</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP REGD V/R /PERP/ SER AA 6.10000000</title>
        <cusip>060505EN0</cusip>
        <identifiers>
          <isin value="US060505EN03"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199599.98000000</valUSD>
        <pctVal>0.026104848828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-09-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.10000000</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>MARB BONDCO PLC 3.95% 01/29/31</name>
        <lei>N/A</lei>
        <title>MARB BONDCO PLC REGD 3.95000000</title>
        <cusip>G5825AAC6</cusip>
        <identifiers>
          <isin value="USG5825AAC65"/>
        </identifiers>
        <balance>550000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>US TREAS NTS 4.375% 07/31/26</name>
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        <name>PNC FINANCIAL SERVI V/R /PERP/</name>
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        <name>CITIGROUP INC V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GEO GROUP INC/ 8.625% 04/15/29</name>
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        <name>AMERIGAS PART/F 5.75% 05/20/27</name>
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        <name>AMERIGAS PART/ 9.375% 06/01/28</name>
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        <name>PETSMART INC/PE 4.75% 02/15/28</name>
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        <name>US T BILL ZCP 10/02/25</name>
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        <name>SELECTIVE INSURANCE GROU /PFD/</name>
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        <name>TRUIST FINANCIAL CO V/R /PERP/</name>
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        <name>GRUBHUB HOLDINGS 5.5% 07/01/27</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>NETWORK I2I LTD V/R /PERP/</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VODAFONE GROUP PL V/R 06/04/81</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORSKE SKOG  V/R 06/25/29/NOK/</name>
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      <invstOrSec>
        <name>ELECTRICIDAD FIR 4.9% 11/20/26</name>
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      <invstOrSec>
        <name>ROCKET SOFTWARE IN 9% 11/28/28</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>GE HEALTHCARE TE 4.8% 08/14/29</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SBL HOLDINGS INC V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T INC /PFD/</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>LIMA METRO LIN 5.875% 07/05/34</name>
        <lei>5493009BVQNQT1UKQ352</lei>
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        <identifiers>
          <isin value="USG54897AA45"/>
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        <invCountry>KY</invCountry>

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        <name>EMPRESAS PUBLI 4.375% 02/15/31</name>
        <lei>N/A</lei>
        <title>EMPRESAS PUBLIC MEDELLIN REGD REG S 4.37500000</title>
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        <invCountry>CO</invCountry>
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        <name>BANK OF HAWAII CORP /PFD/</name>
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        <name>NATIONSTAR MTG 5.125% 12/15/30</name>
        <lei>N/A</lei>
        <title>NATIONSTAR MTG HLD INC REGD 144A P/P 5.12500000</title>
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        <name>NGL ENERGY PARTNERS LP PFD</name>
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        <name>WESTERN ALLIANCE  V/R 06/15/31</name>
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        <name>COMISION FEDER 3.348% 02/09/31</name>
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        <name>PROG HOLDINGS INC 6% 11/15/29</name>
        <lei>549300DHYTLBOVRXIG52</lei>
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        <name>CITIGROUP INC V/R /PERP/</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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      <invstOrSec>
        <name>GAP INC/THE 3.625% 10/01/29</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS V/R /PERP/</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MANGROVE LUX V/R 07/15/29/EUR/</name>
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          <isin value="XS2852974513"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LIMA METRO LINE 4.35% 04/05/36</name>
        <lei>5493009BVQNQT1UKQ352</lei>
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        <cusip>G54897AB2</cusip>
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          <isin value="USG54897AB28"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-05</maturityDt>
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      <invstOrSec>
        <name>EMPRESA ELECTRIC 5.5% 05/14/27</name>
        <lei>N/A</lei>
        <title>EMPRESA ELECTRICA COCHRA REGD REG S 5.50000000</title>
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          <isin value="USP3713CAB48"/>
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        <balance>1307300.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-14</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>RA PARENT INC /RESTRICTED/</name>
        <lei>N/A</lei>
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          <other otherDesc="INTERNAL" value="33TG3R"/>
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        <balance>57.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3764640.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BREAD FINANCIAL 9.75% 03/15/29</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BREAD FINANCIAL HLDGS REGD 144A P/P 9.75000000</title>
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          <isin value="US018581AP34"/>
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        <curCd>USD</curCd>
        <valUSD>1932836.35000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>P/O ECHOSTAR CORP  DEC 17.500</name>
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          <ticker value="SATS241220P00017500"/>
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        <balance>-73.00000000</balance>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>RAYMOND JAMES AND ASSOCIATES</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
                <issuerName>P/O ECHOSTAR CORP  DEC 17.500</issuerName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>3T GLOBAL HOLD 11.25% 05/22/28</name>
        <lei>N/A</lei>
        <title>3T GLOBAL HOLDCO LTD REGD 11.25000000</title>
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          <isin value="NO0013211136"/>
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        <balance>1500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAP SA 3.9% 04/27/31</name>
        <lei>54930079GPG23NTBB003</lei>
        <title>CAP SA REGD REG S 3.90000000</title>
        <cusip>P2316YAA1</cusip>
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          <isin value="USP2316YAA12"/>
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        <balance>6600000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANCOLOMBIA SA V/R 12/18/29</name>
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        <identifiers>
          <isin value="US05968LAL62"/>
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        <balance>5700000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC V/R /PERP/</name>
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          <isin value="US172967NB34"/>
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        <balance>265000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>CAPITAL FARM CREDIT V/R /PERP/</name>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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    <explntrNotes>
      <explntrNote note="ISO country code not reported for forwards, swaps or supranationals." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Brinker Capital Destinations Trust</ncom:nameOfApplicant>
      <ncom:signature>Brian Ferko</ncom:signature>
      <ncom:signerName>Brian Ferko</ncom:signerName>
      <ncom:title>Chief Operating Officer and Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
