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        <fairValLevel>2</fairValLevel>
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          <isin value="US20338QAD51"/>
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        <name>KB HOME 6.875% 06/15/27</name>
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          <isin value="US48666KAX72"/>
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        <name>CHEMOURS CO 6.625% 05/15/23</name>
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          <isin value="US163851AB45"/>
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          <isin value="US30034VAB45"/>
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        <name>ZAYO GROUP LLC/ZAY 6% 04/01/23</name>
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        <name>BROOKFIELD RES 6.375% 05/15/25</name>
        <lei>N/A</lei>
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          <isin value="US11283WAC82"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OCTR 2016-6A AR V/R 07/15/28</name>
        <lei>N/A</lei>
        <title>OCEAN TRAILS CLO VI SER 2016-6A CL AR V/R REGD 144A P/P 2.98125000</title>
        <cusip>67515UAQ3</cusip>
        <identifiers>
          <isin value="US67515UAQ31"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>250067.58000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>HECLA MINING CO 7.25% 02/15/28</name>
        <lei>N/A</lei>
        <title>HECLA MINING CO REGD 7.25000000</title>
        <cusip>422704AH9</cusip>
        <identifiers>
          <isin value="US422704AH97"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24566.81000000</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>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ZAYO GROUP LLC/ 5.75% 01/15/27</name>
        <lei>N/A</lei>
        <title>ZAYO GROUP LLC/ZAYO CAP REGD 144A P/P 5.75000000</title>
        <cusip>989194AP0</cusip>
        <identifiers>
          <isin value="US989194AP01"/>
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        <balance>120000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122423.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMMSCOPE INC 8.25% 03/01/27</name>
        <lei>N/A</lei>
        <title>COMMSCOPE INC REGD 144A P/P 8.25000000</title>
        <cusip>20338QAA1</cusip>
        <identifiers>
          <isin value="US20338QAA13"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35278.14000000</valUSD>
        <pctVal>0.121868489819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERIGAS PART/FI 5.5% 05/20/25</name>
        <lei>N/A</lei>
        <title>AMERIGAS PART/FIN CORP REGD 5.50000000</title>
        <cusip>030981AK0</cusip>
        <identifiers>
          <isin value="US030981AK06"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125978.97000000</valUSD>
        <pctVal>0.435194906048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>
        <name>GOLDEN ENTERTA 7.625% 04/15/26</name>
        <lei>N/A</lei>
        <title>GOLDEN ENTERTAINMENT INC REGD 144A P/P 7.62500000</title>
        <cusip>381013AA9</cusip>
        <identifiers>
          <isin value="US381013AA98"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107342.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CENTENNIAL RES 5.375% 01/15/26</name>
        <lei>N/A</lei>
        <title>CENTENNIAL RESOURCE PROD REGD 144A P/P 5.37500000</title>
        <cusip>15138AAA8</cusip>
        <identifiers>
          <isin value="US15138AAA88"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21733.37000000</valUSD>
        <pctVal>0.075078022270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERIGAS PART/ 5.875% 08/20/26</name>
        <lei>N/A</lei>
        <title>AMERIGAS PART/FIN CORP REGD 5.87500000</title>
        <cusip>030981AJ3</cusip>
        <identifiers>
          <isin value="US030981AJ33"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51932.80000000</valUSD>
        <pctVal>0.179402086053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDX 2I65BRSB7 05.000 NA 12/20/2024 CITCL FLOAT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CLIENT ID" value="Z91ZBY777CIT"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-162686.50000000</valUSD>
        <pctVal>-0.56200122991</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BANK OF AMERICA</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <counterparties>
              <counterpartyName>BANK OF AMERICA</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <counterparties>
              <counterpartyName>BANK OF AMERICA</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CDX.NA.HY.33</issuerName>
                <issueTitle>CDX.NA.HY.33</issueTitle>
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                  <cusip value="N/A"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="NA" floatingRtSpread="0.05" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
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        <securityLending>
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      <invstOrSec>
        <name>VALVOLINE INC 4.25% 02/15/30</name>
        <lei>N/A</lei>
        <title>VALVOLINE INC REGD 144A P/P 4.25000000</title>
        <cusip>92047WAD3</cusip>
        <identifiers>
          <isin value="US92047WAD39"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19726.11000000</valUSD>
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        <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>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>RANGE RESOURCE 4.875% 05/15/25</name>
        <lei>N/A</lei>
        <title>RANGE RESOURCES CORP REGD 4.87500000</title>
        <cusip>75281AAS8</cusip>
        <identifiers>
          <isin value="US75281AAS87"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31642.37000000</valUSD>
        <pctVal>0.109308706360</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AMERICAN AXLE &amp; 6.25% 03/15/26</name>
        <lei>N/A</lei>
        <title>AMERICAN AXLE &amp; MFG INC REGD 6.25000000</title>
        <cusip>02406PAY6</cusip>
        <identifiers>
          <isin value="US02406PAY60"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96331.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPRINT CORP 7.125% 06/15/24</name>
        <lei>N/A</lei>
        <title>SPRINT CORP REGD SER WI 7.12500000</title>
        <cusip>85207UAH8</cusip>
        <identifiers>
          <isin value="US85207UAH86"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56833.89000000</valUSD>
        <pctVal>0.196332923018</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</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>VECTOR GROUP LT 10.5% 11/01/26</name>
        <lei>549300TUIF4WWN6NDN50</lei>
        <title>VECTOR GROUP LTD REGD 144A P/P 10.50000000</title>
        <cusip>92240MBJ6</cusip>
        <identifiers>
          <isin value="US92240MBJ62"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24937.42000000</valUSD>
        <pctVal>0.086146427090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IHEARTCOMMUNIC 8.375% 05/01/27</name>
        <lei>N/A</lei>
        <title>IHEARTCOMMUNICATIONS INC REGD 8.37500000</title>
        <cusip>45174HBD8</cusip>
        <identifiers>
          <isin value="US45174HBD89"/>
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        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>135795.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRONT RANGE BI 6.125% 03/01/28</name>
        <lei>N/A</lei>
        <title>FRONT RANGE BIDCO INC REGD 144A P/P 6.12500000</title>
        <cusip>98919VAB1</cusip>
        <identifiers>
          <isin value="US98919VAB18"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24668.11000000</valUSD>
        <pctVal>0.085216094510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COOPER-STANDAR 5.625% 11/15/26</name>
        <lei>N/A</lei>
        <title>COOPER-STANDARD AUTOMOTI REGD 144A P/P 5.62500000</title>
        <cusip>216762AF1</cusip>
        <identifiers>
          <isin value="US216762AF11"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66929.15000000</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>2026-11-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINGLEAF FIN 6.625% 01/15/28</name>
        <lei>N/A</lei>
        <title>SPRINGLEAF FINANCE CORP REGD 6.62500000</title>
        <cusip>85172FAQ2</cusip>
        <identifiers>
          <isin value="US85172FAQ28"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54931.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AECOM 5.875% 10/15/24</name>
        <lei>N/A</lei>
        <title>AECOM REGD 5.87500000</title>
        <cusip>00766TAD2</cusip>
        <identifiers>
          <isin value="US00766TAD28"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27044.79000000</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>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMN HEALTHCARE 4.625% 10/01/27</name>
        <lei>N/A</lei>
        <title>AMN HEALTHCARE INC REGD 144A P/P 4.62500000</title>
        <cusip>00175PAB9</cusip>
        <identifiers>
          <isin value="US00175PAB94"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25469.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONSTAR MTG 9.125% 07/15/26</name>
        <lei>N/A</lei>
        <title>NATIONSTAR MTG HLD INC REGD 144A P/P 9.12500000</title>
        <cusip>93369KAB1</cusip>
        <identifiers>
          <isin value="US93369KAB17"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>271625.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</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>BAUSCH HEALTH C 5.25% 01/30/30</name>
        <lei>N/A</lei>
        <title>BAUSCH HEALTH COS INC REGD 144A P/P 5.25000000</title>
        <cusip>071734AJ6</cusip>
        <identifiers>
          <isin value="US071734AJ60"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49427.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CHEMOURS CO 5.375% 05/15/27</name>
        <lei>N/A</lei>
        <title>CHEMOURS CO REGD 5.37500000</title>
        <cusip>163851AE8</cusip>
        <identifiers>
          <isin value="US163851AE83"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42936.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONSTELLIUM SE 5.875% 02/15/26</name>
        <lei>N/A</lei>
        <title>CONSTELLIUM SE REGD 144A P/P 5.87500000</title>
        <cusip>210383AG0</cusip>
        <identifiers>
          <isin value="US210383AG04"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>253960.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SCIENTIFIC GAMES I 7% 05/15/28</name>
        <lei>N/A</lei>
        <title>SCIENTIFIC GAMES INTERNA REGD 144A P/P 7.00000000</title>
        <cusip>80874YBC3</cusip>
        <identifiers>
          <isin value="US80874YBC30"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24392.23000000</valUSD>
        <pctVal>0.084263065836</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAUSCH HEALTH C 7.25% 05/30/29</name>
        <lei>N/A</lei>
        <title>BAUSCH HEALTH COS INC REGD P/P 7.25000000</title>
        <cusip>071734AF4</cusip>
        <identifiers>
          <isin value="US071734AF49"/>
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        <balance>140000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>153018.18000000</valUSD>
        <pctVal>0.528601975939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>RANGE RESOURCES CO 5% 03/15/23</name>
        <lei>N/A</lei>
        <title>RANGE RESOURCES COR REGD SER * 5.00000000</title>
        <cusip>75281ABA6</cusip>
        <identifiers>
          <isin value="US75281ABA60"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>108727.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>H&amp;E EQUIPMENT  5.625% 09/01/25</name>
        <lei>N/A</lei>
        <title>H&amp;E EQUIPMENT SERVICES REGD SER WI 5.62500000</title>
        <cusip>404030AH1</cusip>
        <identifiers>
          <isin value="US404030AH17"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25970.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>CENTURY COMMUNI 6.75% 06/01/27</name>
        <lei>N/A</lei>
        <title>CENTURY COMMUNITIES REGD 6.75000000</title>
        <cusip>156504AL6</cusip>
        <identifiers>
          <isin value="US156504AL63"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82465.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>FXI HOLDINGS I 7.875% 11/01/24</name>
        <lei>N/A</lei>
        <title>FXI HOLDINGS INC REGD 144A P/P 7.87500000</title>
        <cusip>36120RAA7</cusip>
        <identifiers>
          <isin value="US36120RAA77"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23497.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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      <invstOrSec>
        <name>VICI PROPERTIE 4.625% 12/01/29</name>
        <lei>N/A</lei>
        <title>VICI PROPERTIES / NOTE REGD 144A P/P 4.62500000</title>
        <cusip>92564RAB1</cusip>
        <identifiers>
          <isin value="US92564RAB15"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41364.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>MATTAMY GROUP C 5.25% 12/15/27</name>
        <lei>N/A</lei>
        <title>MATTAMY GROUP CORP REGD 144A P/P 5.25000000</title>
        <cusip>57701RAJ1</cusip>
        <identifiers>
          <isin value="US57701RAJ14"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>78514.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TRANSOCEAN INC 7.25% 11/01/25</name>
        <lei>N/A</lei>
        <title>TRANSOCEAN INC REGD 144A P/P 7.25000000</title>
        <cusip>893830BK4</cusip>
        <identifiers>
          <isin value="US893830BK41"/>
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        <balance>85000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70336.26000000</valUSD>
        <pctVal>0.242976919580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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          <isin value="US72147KAE82"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US877249AD49"/>
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        <name>ENTERCOM MEDIA C 6.5% 05/01/27</name>
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          <isin value="US29365DAA72"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN AXLE &amp;  6.5% 04/01/27</name>
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        <name>VALARIS PLC 7.75% 02/01/26</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASHTON WOODS U 9.875% 04/01/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BROOKFIELD RESI 6.25% 09/15/27</name>
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          <isin value="US11283YAB65"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANTERO RESOURC 5.625% 06/01/23</name>
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        <title>ANTERO RESOURCES CORP REGD SER WI 5.62500000</title>
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          <isin value="US03674XAF33"/>
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        <fairValLevel>2</fairValLevel>
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        <name>F/C US 10YR NOTE (CBT)JUN20</name>
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          <ticker value="TYM0 XCBT"/>
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      <invstOrSec>
        <name>TERRIER MEDIA  8.875% 12/15/27</name>
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        <name>ZAYO GROUP LLC 6.375% 05/15/25</name>
        <lei>N/A</lei>
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              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
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      <invstOrSec>
        <name>ALBERTSONS COS 4.875% 02/15/30</name>
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        <cusip>013092AE1</cusip>
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      <invstOrSec>
        <name>VALARIS PLC 5.75% 10/01/44</name>
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          <isin value="US91889DAF33"/>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>POST HOLDINGS IN 5.5% 12/15/29</name>
        <lei>N/A</lei>
        <title>POST HOLDINGS INC REGD 144A P/P 5.50000000</title>
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          <isin value="US84762LAU98"/>
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        <name>TITAN INTERNATIO 6.5% 11/30/23</name>
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        <name>ZAIS8 2018-1A A V/R 04/15/29</name>
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        <name>AUTOMATION TOOLI 6.5% 06/15/23</name>
        <lei>N/A</lei>
        <title>AUTOMATION TOOLING SYSTE REGD 144A P/P 6.50000000</title>
        <cusip>001940AA3</cusip>
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          <isin value="US001940AA33"/>
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        <curCd>USD</curCd>
        <valUSD>25675.38000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WPX ENERGY INC 5.25% 10/15/27</name>
        <lei>N/A</lei>
        <title>WPX ENERGY INC REGD 5.25000000</title>
        <cusip>98212BAJ2</cusip>
        <identifiers>
          <isin value="US98212BAJ26"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49271.69000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINGLEAF FIN 7.125% 03/15/26</name>
        <lei>N/A</lei>
        <title>SPRINGLEAF FINANCE CORP REGD 7.12500000</title>
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          <isin value="US85172FAN96"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277401.96000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>T/L CITGO PETROLEUM CORPORATIO  0% 3/28/24</name>
        <lei>N/A</lei>
        <title>T/L CITGO PETROLEUM CORPORATIO REGD 0.00000000</title>
        <cusip>17302UAM4</cusip>
        <identifiers>
          <isin value="US17302UAM45"/>
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        <curCd>USD</curCd>
        <valUSD>74624.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW HOME CO INC 7.25% 04/01/22</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>NEW HOME CO INC/THE REGD SER WI 7.25000000</title>
        <cusip>645370AB3</cusip>
        <identifiers>
          <isin value="US645370AB35"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50722.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>CORNERSTONE BUILDI 8% 04/15/26</name>
        <lei>N/A</lei>
        <title>CORNERSTONE BUILDING REGD 144A P/P 8.00000000</title>
        <cusip>72431PAA0</cusip>
        <identifiers>
          <isin value="US72431PAA03"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>74246.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>ANTERO RESOURCES C 5% 03/01/25</name>
        <lei>N/A</lei>
        <title>ANTERO RESOURCES CORP REGD SER WI 0.00000000</title>
        <cusip>03674XAJ5</cusip>
        <identifiers>
          <isin value="US03674XAJ54"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90048.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>MEDNAX INC 6.25% 01/15/27</name>
        <lei>N/A</lei>
        <title>MEDNAX INC REGD 144A P/P 6.25000000</title>
        <cusip>58502BAC0</cusip>
        <identifiers>
          <isin value="US58502BAC00"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72163.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>COMMSCOPE TECH LLC 6% 06/15/25</name>
        <lei>N/A</lei>
        <title>COMMSCOPE TECH LLC REGD 144A P/P 6.00000000</title>
        <cusip>20337YAA5</cusip>
        <identifiers>
          <isin value="US20337YAA55"/>
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        <balance>115000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>108097.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>ALLISON TRANSMI 4.75% 10/01/27</name>
        <lei>N/A</lei>
        <title>ALLISON TRANSMISSION INC REGD 144A P/P 4.75000000</title>
        <cusip>019736AE7</cusip>
        <identifiers>
          <isin value="US019736AE70"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51234.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>POST HOLDINGS  5.625% 01/15/28</name>
        <lei>N/A</lei>
        <title>POST HOLDINGS INC REGD 144A P/P 5.62500000</title>
        <cusip>737446AN4</cusip>
        <identifiers>
          <isin value="US737446AN44"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52038.42000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>T/L MCAFEE LLC 0% 09/29/2025</name>
        <lei>N/A</lei>
        <title>T/L MCAFEE LLC REGD 0.00000000</title>
        <cusip>57906PAF6</cusip>
        <identifiers>
          <isin value="US57906PAF62"/>
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        <balance>218750.00000000</balance>
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        <valUSD>219023.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>INTRADO CORP 8.5% 10/15/25</name>
        <lei>N/A</lei>
        <title>INTRADO CORP REGD 144A P/P 8.50000000</title>
        <cusip>68163PAA2</cusip>
        <identifiers>
          <isin value="US68163PAA21"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188791.57000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>CHESAPEAKE ENE 4.875% 04/15/22</name>
        <lei>N/A</lei>
        <title>CHESAPEAKE ENERGY CORP REGD 4.87500000</title>
        <cusip>165167CN5</cusip>
        <identifiers>
          <isin value="US165167CN50"/>
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        <curCd>USD</curCd>
        <valUSD>15205.61000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>CHEMOURS CO 7% 05/15/25</name>
        <lei>N/A</lei>
        <title>CHEMOURS CO REGD SER WI 7.00000000</title>
        <cusip>163851AD0</cusip>
        <identifiers>
          <isin value="US163851AD01"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93564.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>T/L HERITAGE POWER 0% 07/30/26</name>
        <lei>N/A</lei>
        <title>T/L HERITAGE POWER LLC REGD 0.00000000</title>
        <cusip>42727CAC1</cusip>
        <identifiers>
          <isin value="US42727CAC10"/>
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        <balance>99750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>94637.81000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DANA FINANCING L 6.5% 06/01/26</name>
        <lei>N/A</lei>
        <title>DANA FINANCING LUX SARL REGD 144A P/P 6.50000000</title>
        <cusip>235822AA1</cusip>
        <identifiers>
          <isin value="US235822AA14"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>105432.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ATOTECH ALPHA 2 8.75% 06/01/23</name>
        <lei>N/A</lei>
        <title>ATOTECH ALPHA 2 BV REGD 144A P/P 8.75000000</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EMBARQ CORP 7.995% 06/01/36</name>
        <lei>N/A</lei>
        <title>EMBARQ CORP REGD 7.99500000</title>
        <cusip>29078EAA3</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>T/L MALLINCKRODT 0% 09/24/24</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANTERO RESOURC 5.375% 11/01/21</name>
        <lei>N/A</lei>
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          <isin value="US03674PAL76"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CLEAR CHANNEL W 9.25% 02/15/24</name>
        <lei>N/A</lei>
        <title>CLEAR CHANNEL WORLDWIDE REGD 144A P/P 9.25000000</title>
        <cusip>18451QAN8</cusip>
        <identifiers>
          <isin value="US18451QAN88"/>
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        <balance>434000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>462060.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TENET HEALTHCAR 6.75% 06/15/23</name>
        <lei>N/A</lei>
        <title>TENET HEALTHCARE CORP REGD SER WI 6.75000000</title>
        <cusip>88033GCN8</cusip>
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          <isin value="US88033GCN88"/>
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        <balance>200000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>T/L SCIENTIFIC GAM 0% 08/14/24</name>
        <lei>N/A</lei>
        <title>T/L SCIENTIFIC GAMES           INTERNATIONAL INC REGD 0.00000000</title>
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          <isin value="US80875AAP66"/>
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        <valUSD>72493.58000000</valUSD>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>T/L CITGO PETROLEUM 0% 7/29/21</name>
        <lei>N/A</lei>
        <title>T/L CITGO PETROLEUM CORP 0.00000000</title>
        <cusip>17302UAJ1</cusip>
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          <isin value="US17302UAJ16"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24677.07000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>BEAZER HOMES U 5.875% 10/15/27</name>
        <lei>N/A</lei>
        <title>BEAZER HOMES USA REGD SER WI 5.87500000</title>
        <cusip>07556QBR5</cusip>
        <identifiers>
          <isin value="US07556QBR56"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50656.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>INTELSAT JACKSON 5.5% 08/01/23</name>
        <lei>N/A</lei>
        <title>INTELSAT JACKSON HLDG REGD 5.50000000</title>
        <cusip>45824TAP0</cusip>
        <identifiers>
          <isin value="US45824TAP03"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34439.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHAELS STORES IN 8% 07/15/27</name>
        <lei>N/A</lei>
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        <cusip>594087AU2</cusip>
        <identifiers>
          <isin value="US594087AU28"/>
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        <balance>125000.00000000</balance>
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        <valUSD>104255.64000000</valUSD>
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        <name>HOWARD HUGHES  5.375% 03/15/25</name>
        <lei>N/A</lei>
        <title>HOWARD HUGHES CORP REGD 144A P/P 5.37500000</title>
        <cusip>44267DAB3</cusip>
        <identifiers>
          <isin value="US44267DAB38"/>
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        <valUSD>25532.99000000</valUSD>
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        <name>PATRICK INDUSTRI 7.5% 10/15/27</name>
        <lei>N/A</lei>
        <title>PATRICK INDUSTRIES INC REGD 144A P/P 7.50000000</title>
        <cusip>703343AC7</cusip>
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          <isin value="US703343AC76"/>
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        <name>LAUREATE EDUCAT 8.25% 05/01/25</name>
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        <name>PRECISION DRIL 7.125% 01/15/26</name>
        <lei>N/A</lei>
        <title>PRECISION DRILLING CORP REGD 144A P/P 7.12500000</title>
        <cusip>740212AL9</cusip>
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          <isin value="US740212AL91"/>
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        <invCountry>CA</invCountry>
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        <name>BAUSCH HEALTH C 5.75% 08/15/27</name>
        <lei>N/A</lei>
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        <cusip>071734AC1</cusip>
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          <isin value="US071734AC18"/>
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        <valUSD>26594.76000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>UNIVISION COMM 5.125% 02/15/25</name>
        <lei>N/A</lei>
        <title>UNIVISION COMMUNICATIONS REGD 144A P/P 5.12500000</title>
        <cusip>914906AS1</cusip>
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          <isin value="US914906AS13"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>EG GLOBAL FINANC 8.5% 10/30/25</name>
        <lei>N/A</lei>
        <title>EG GLOBAL FINANCE PLC REGD 144A P/P 8.50000000</title>
        <cusip>28228PAB7</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TWIN RIVER WORL 6.75% 06/01/27</name>
        <lei>N/A</lei>
        <title>TWIN RIVER WORLDWIDE HLD REGD 144A P/P 6.75000000</title>
        <cusip>90171VAA3</cusip>
        <identifiers>
          <isin value="US90171VAA35"/>
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        <curCd>USD</curCd>
        <valUSD>52311.27000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALTA MESA HLDG 7.875% 12/15/24</name>
        <lei>N/A</lei>
        <title>ALTA MESA HLDGS/FINANC S REGD SER WI 0.00000000</title>
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          <isin value="US021332AF81"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>RAIN CII CARBON 7.25% 04/01/25</name>
        <lei>N/A</lei>
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        <cusip>75079RAC2</cusip>
        <identifiers>
          <isin value="US75079RAC25"/>
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        <curCd>USD</curCd>
        <valUSD>72296.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MASONITE INTER 5.375% 02/01/28</name>
        <lei>N/A</lei>
        <title>MASONITE INTERNATIONAL C REGD 144A P/P 5.37500000</title>
        <cusip>575385AD1</cusip>
        <identifiers>
          <isin value="US575385AD19"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31508.44000000</valUSD>
        <pctVal>0.108846044586</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HCA INC 5.625% 09/01/28</name>
        <lei>N/A</lei>
        <title>HCA INC REGD 5.62500000</title>
        <cusip>404121AJ4</cusip>
        <identifiers>
          <isin value="US404121AJ49"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>170215.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHESAPEAKE ENER 11.5% 01/01/25</name>
        <lei>N/A</lei>
        <title>CHESAPEAKE ENERGY CORP REGD 144A P/P 11.50000000</title>
        <cusip>165167DD6</cusip>
        <identifiers>
          <isin value="US165167DD69"/>
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        <balance>142000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82141.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST QUANTUM  6.875% 03/01/26</name>
        <lei>N/A</lei>
        <title>FIRST QUANTUM MINERALS L REGD 144A P/P 6.87500000</title>
        <cusip>335934AR6</cusip>
        <identifiers>
          <isin value="US335934AR67"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186852.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>MGM GROWTH/MGM F 4.5% 01/15/28</name>
        <lei>N/A</lei>
        <title>MGM GROWTH/MGM FINANCE REGD SER WI 4.50000000</title>
        <cusip>55303XAF2</cusip>
        <identifiers>
          <isin value="US55303XAF24"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76886.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>HILCORP ENERGY  6.25% 11/01/28</name>
        <lei>N/A</lei>
        <title>HILCORP ENERGY I/HILCORP REGD 144A P/P 6.25000000</title>
        <cusip>431318AS3</cusip>
        <identifiers>
          <isin value="US431318AS36"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18211.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>INTELSAT JACKSON H 8% 02/15/24</name>
        <lei>N/A</lei>
        <title>INTELSAT JACKSON HLDG REGD 144A P/P 8.00000000</title>
        <cusip>45824TAR6</cusip>
        <identifiers>
          <isin value="US45824TAR68"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51260.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ENTERCOM MEDIA  7.25% 11/01/24</name>
        <lei>N/A</lei>
        <title>ENTERCOM MEDIA CORP REGD 144A P/P 7.25000000</title>
        <cusip>124847AC8</cusip>
        <identifiers>
          <isin value="US124847AC84"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52632.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>SPRINT CAPITAL  8.75% 03/15/32</name>
        <lei>N/A</lei>
        <title>SPRINT CAPITAL CORP REGD 8.75000000</title>
        <cusip>852060AT9</cusip>
        <identifiers>
          <isin value="US852060AT99"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187630.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TIBCO SOFTWAR 11.375% 12/01/21</name>
        <lei>N/A</lei>
        <title>TIBCO SOFTWARE INC REGD 144A P/P 11.37500000</title>
        <cusip>05765WAA1</cusip>
        <identifiers>
          <isin value="US05765WAA18"/>
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        <curCd>USD</curCd>
        <valUSD>123412.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.37500000</annualizedRt>
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      <invstOrSec>
        <name>CUMULUS MEDIA N 6.75% 07/01/26</name>
        <lei>N/A</lei>
        <title>CUMULUS MEDIA NEW HLDGS REGD 144A P/P 6.75000000</title>
        <cusip>23110AAA4</cusip>
        <identifiers>
          <isin value="US23110AAA43"/>
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        <balance>75000.00000000</balance>
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        <valUSD>77959.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANFF MERGER SU 9.75% 09/01/26</name>
        <lei>N/A</lei>
        <title>BANFF MERGER SUB INC REGD 144A P/P 9.75000000</title>
        <cusip>05988LAA6</cusip>
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          <isin value="US05988LAA61"/>
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        <valUSD>227588.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</annualizedRt>
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      <invstOrSec>
        <name>M/I HOMES INC 4.95% 02/01/28</name>
        <lei>N/A</lei>
        <title>M/I HOMES INC REGD 144A P/P 4.95000000</title>
        <cusip>55305BAR2</cusip>
        <identifiers>
          <isin value="US55305BAR24"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25454.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>FERRELLGAS LP/FE 6.5% 05/01/21</name>
        <lei>N/A</lei>
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        <name>ADML 2014-1A A1R V/R 07/15/26</name>
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          <isin value="US33834YAA64"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47177.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TRONOX FINANCE  5.75% 10/01/25</name>
        <lei>N/A</lei>
        <title>TRONOX FINANCE PLC REGD 144A P/P 5.75000000</title>
        <cusip>89705PAA3</cusip>
        <identifiers>
          <isin value="US89705PAA30"/>
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        <balance>95000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>89867.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTURYLINK INC 7.6% 09/15/39</name>
        <lei>N/A</lei>
        <title>CENTURYLINK INC REGD SER P 7.60000000</title>
        <cusip>156700AM8</cusip>
        <identifiers>
          <isin value="US156700AM80"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53398.54000000</valUSD>
        <pctVal>0.184465491331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TRANSOCEAN PON 6.125% 08/01/25</name>
        <lei>N/A</lei>
        <title>TRANSOCEAN PONTUS LTD REGD 144A P/P 6.12500000</title>
        <cusip>89382PAA3</cusip>
        <identifiers>
          <isin value="US89382PAA30"/>
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        <balance>41750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42143.71000000</valUSD>
        <pctVal>0.145585631585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>IAMGOLD CORP 7% 04/15/25</name>
        <lei>N/A</lei>
        <title>IAMGOLD CORP REGD 144A P/P 7.00000000</title>
        <cusip>450913AE8</cusip>
        <identifiers>
          <isin value="US450913AE80"/>
        </identifiers>
        <balance>85000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>87259.08000000</valUSD>
        <pctVal>0.301436875714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>CNX RESOURCES  5.875% 04/15/22</name>
        <lei>N/A</lei>
        <title>CNX RESOURCES CORP REGD SER WI 5.87500000</title>
        <cusip>20854PAL3</cusip>
        <identifiers>
          <isin value="US20854PAL31"/>
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        <balance>58000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53129.85000000</valUSD>
        <pctVal>0.183537300544</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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 INC 8% 04/15/24</name>
        <lei>N/A</lei>
        <title>FORESTAR GROUP INC REGD 144A P/P 8.00000000</title>
        <cusip>346232AD3</cusip>
        <identifiers>
          <isin value="US346232AD36"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27097.58000000</valUSD>
        <pctVal>0.093608709312</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ANTERO RESOURC 5.125% 12/01/22</name>
        <lei>N/A</lei>
        <title>ANTERO RESOURCES CORP REGD SER WI 5.12500000</title>
        <cusip>03674XAC0</cusip>
        <identifiers>
          <isin value="US03674XAC02"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15558.33000000</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>2022-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>MATTAMY GROUP  4.625% 03/01/30</name>
        <lei>N/A</lei>
        <title>MATTAMY GROUP CORP REGD 144A P/P 4.62500000</title>
        <cusip>57701RAM4</cusip>
        <identifiers>
          <isin value="US57701RAM43"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24242.92000000</valUSD>
        <pctVal>0.083747273785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>CLEVELAND-CLIFF 5.75% 03/01/25</name>
        <lei>N/A</lei>
        <title>CLEVELAND-CLIFFS INC REGD SER WI 5.75000000</title>
        <cusip>18683KAM3</cusip>
        <identifiers>
          <isin value="US18683KAM36"/>
        </identifiers>
        <balance>29000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26504.67000000</valUSD>
        <pctVal>0.091560499109</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>US CONCRETE IN 6.375% 06/01/24</name>
        <lei>N/A</lei>
        <title>US CONCRETE INC REGD 6.37500000</title>
        <cusip>90333LAP7</cusip>
        <identifiers>
          <isin value="US90333LAP76"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>152911.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>TRANSDIGM INC 6.5% 05/15/25</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD SER _ 6.50000000</title>
        <cusip>893647AZ0</cusip>
        <identifiers>
          <isin value="US893647AZ06"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>103353.33000000</valUSD>
        <pctVal>0.357034533138</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SENSATA TECHNOLOGI 5% 10/01/25</name>
        <lei>N/A</lei>
        <title>SENSATA TECHNOLOGIES BV REGD 144A P/P 5.00000000</title>
        <cusip>81725WAJ2</cusip>
        <identifiers>
          <isin value="US81725WAJ27"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26417.49000000</valUSD>
        <pctVal>0.091259335415</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDEN NUGGET I 6.75% 10/15/24</name>
        <lei>N/A</lei>
        <title>GOLDEN NUGGET INC REGD 144A P/P 6.75000000</title>
        <cusip>38113YAE9</cusip>
        <identifiers>
          <isin value="US38113YAE95"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>98368.83000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>VISTRA OPERATI 5.625% 02/15/27</name>
        <lei>N/A</lei>
        <title>VISTRA OPERATIONS CO LLC REGD 144A P/P 5.62500000</title>
        <cusip>92840VAB8</cusip>
        <identifiers>
          <isin value="US92840VAB80"/>
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        <balance>225000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230588.67000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>EXTRACTION OIL 7.375% 05/15/24</name>
        <lei>5493002FL3WIE1JVUP20</lei>
        <title>EXTRACTION OIL &amp; GAS INC REGD 144A P/P 7.37500000</title>
        <cusip>30227MAA3</cusip>
        <identifiers>
          <isin value="US30227MAA36"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17921.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>UNITED RENTALS 4.875% 01/15/28</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 4.87500000</title>
        <cusip>911365BG8</cusip>
        <identifiers>
          <isin value="US911365BG81"/>
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        <balance>325000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>334011.18000000</valUSD>
        <pctVal>1.153843090630</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>CROWNROCK LP/C 5.625% 10/15/25</name>
        <lei>N/A</lei>
        <title>CROWNROCK LP/CROWNROCK F REGD 144A P/P 5.62500000</title>
        <cusip>228701AF5</cusip>
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      <invstOrSec>
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          <isin value="US80874YAQ35"/>
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      <invstOrSec>
        <name>INTELSAT JACKSO 9.75% 07/15/25</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <identifiers>
          <isin value="US85207UAJ43"/>
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        <debtSec>
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      <invstOrSec>
        <name>NABORS INDUSTRI 5.75% 02/01/25</name>
        <lei>N/A</lei>
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          <isin value="US62957HAF29"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREEPORT-MCMORA 4.55% 11/14/24</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US35671DBL82"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US80874YBE95"/>
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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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        <identifiers>
          <isin value="US1248EPCB75"/>
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        <balance>175000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186496.63000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>NATIONSTAR MTG 8.125% 07/15/23</name>
        <lei>N/A</lei>
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        <cusip>93369KAA3</cusip>
        <identifiers>
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        <balance>25000.00000000</balance>
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        <valUSD>26097.36000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TENET HEALTHCAR 6.25% 02/01/27</name>
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        <identifiers>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <identifiers>
          <isin value="US42829LAF13"/>
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      <invstOrSec>
        <name>OWENS-BROCKWAY 6.375% 08/15/25</name>
        <lei>N/A</lei>
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        <cusip>69073TAS2</cusip>
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          <isin value="US69073TAS24"/>
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        <curCd>USD</curCd>
        <valUSD>55179.94000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>INTELSAT LUXEM 8.125% 06/01/23</name>
        <lei>N/A</lei>
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        <cusip>458204AQ7</cusip>
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          <isin value="US458204AQ79"/>
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        <invCountry>LU</invCountry>
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        <name>FORD MOTOR COMP 4.75% 01/15/43</name>
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      <invstOrSec>
        <name>MATTAMY GROUP CO 6.5% 10/01/25</name>
        <lei>N/A</lei>
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          <isin value="US57701RAH57"/>
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        <valUSD>80466.45000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TAYLOR MORRISO 6.625% 07/15/27</name>
        <lei>N/A</lei>
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        <cusip>87724RAG7</cusip>
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          <isin value="US87724RAG74"/>
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      <invstOrSec>
        <name>STANDARD INDUST 4.75% 01/15/28</name>
        <lei>N/A</lei>
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          <isin value="US853496AD99"/>
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        <curCd>USD</curCd>
        <valUSD>102852.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>CALPINE CORP 5.75% 01/15/25</name>
        <lei>N/A</lei>
        <title>CALPINE CORP REGD 5.75000000</title>
        <cusip>131347CF1</cusip>
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          <isin value="US131347CF14"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348925.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>PULTEGROUP INC 5% 01/15/27</name>
        <lei>N/A</lei>
        <title>PULTEGROUP INC REGD 0.00000000</title>
        <cusip>745867AX9</cusip>
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          <isin value="US745867AX94"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27487.74000000</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>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>NAVISTAR INTL  6.625% 11/01/25</name>
        <lei>N/A</lei>
        <title>NAVISTAR INTL CORP REGD 144A P/P 6.62500000</title>
        <cusip>63934EAT5</cusip>
        <identifiers>
          <isin value="US63934EAT55"/>
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        <balance>140000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>145297.89000000</valUSD>
        <pctVal>0.501932200172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>TENET HEALTHCA 6.875% 11/15/31</name>
        <lei>N/A</lei>
        <title>TENET HEALTHCARE CORP REGD 6.87500000</title>
        <cusip>88033GAV2</cusip>
        <identifiers>
          <isin value="US88033GAV23"/>
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        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129747.87000000</valUSD>
        <pctVal>0.448214587678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</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>VICI PROPERTIES 4.25% 12/01/26</name>
        <lei>N/A</lei>
        <title>VICI PROPERTIES / NOTE REGD 144A P/P 4.25000000</title>
        <cusip>92564RAA3</cusip>
        <identifiers>
          <isin value="US92564RAA32"/>
        </identifiers>
        <balance>55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55628.71000000</valUSD>
        <pctVal>0.192169623406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>
        <name>WYNDHAM DESTIN 4.625% 03/01/30</name>
        <lei>N/A</lei>
        <title>WYNDHAM DESTINATIONS INC REGD 144A P/P 4.62500000</title>
        <cusip>98310WAQ1</cusip>
        <identifiers>
          <isin value="US98310WAQ15"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25241.17000000</valUSD>
        <pctVal>0.087195732801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>FERL PRT LP/FE 8.625% 06/15/20</name>
        <lei>N/A</lei>
        <title>FERL PRT LP/FERL PRT FIN REGD 8.62500000</title>
        <cusip>315295AE5</cusip>
        <identifiers>
          <isin value="US315295AE59"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58857.72000000</valUSD>
        <pctVal>0.203324252656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</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>XPO LOGISTICS I 6.75% 08/15/24</name>
        <lei>N/A</lei>
        <title>XPO LOGISTICS INC REGD 144A P/P 6.75000000</title>
        <cusip>983793AG5</cusip>
        <identifiers>
          <isin value="US983793AG59"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>132056.51000000</valUSD>
        <pctVal>0.456189794713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMC ENTERTAINM 6.125% 05/15/27</name>
        <lei>N/A</lei>
        <title>AMC ENTERTAINMENT HLDGS REGD 6.12500000</title>
        <cusip>00165CAD6</cusip>
        <identifiers>
          <isin value="US00165CAD65"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19988.43000000</valUSD>
        <pctVal>0.069050119364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="17860.79000000"/>
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      <invstOrSec>
        <name>LPL HOLDINGS IN 5.75% 09/15/25</name>
        <lei>N/A</lei>
        <title>LPL HOLDINGS INC REGD 144A P/P 5.75000000</title>
        <cusip>50212YAB0</cusip>
        <identifiers>
          <isin value="US50212YAB02"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26086.02000000</valUSD>
        <pctVal>0.090114270842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELF 2015-1A AR3 V/R 07/20/29</name>
        <lei>N/A</lei>
        <title>WELLFLEET CLO 2015-1 LTD SER 2015-1A CL AR3 V/R REGD 144A P/P 3.09913000</title>
        <cusip>949496BA0</cusip>
        <identifiers>
          <isin value="US949496BA06"/>
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        <balance>275000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>274539.49000000</valUSD>
        <pctVal>0.948397875908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.09913000</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>
        <name>GRAY TELEVISION IN 7% 05/15/27</name>
        <lei>N/A</lei>
        <title>GRAY TELEVISION INC REGD 144A P/P 7.00000000</title>
        <cusip>389284AA8</cusip>
        <identifiers>
          <isin value="US389284AA85"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>81354.55000000</valUSD>
        <pctVal>0.281039650855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>MARRIOTT OWNERS 4.75% 01/15/28</name>
        <lei>N/A</lei>
        <title>MARRIOTT OWNERSHIP RESOR REGD 144A P/P 4.75000000</title>
        <cusip>57164PAD8</cusip>
        <identifiers>
          <isin value="US57164PAD87"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19960.94000000</valUSD>
        <pctVal>0.068955155038</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>B&amp;G FOODS INC 5.25% 04/01/25</name>
        <lei>N/A</lei>
        <title>B&amp;G FOODS INC REGD 5.25000000</title>
        <cusip>05508RAE6</cusip>
        <identifiers>
          <isin value="US05508RAE62"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49444.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ENVIVA PARTNERS  6.5% 01/15/26</name>
        <lei>N/A</lei>
        <title>ENVIVA PARTNERS LP/FIN C REGD 144A P/P 6.50000000</title>
        <cusip>29413XAD9</cusip>
        <identifiers>
          <isin value="US29413XAD93"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52072.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SURGERY CENTER HO 10% 04/15/27</name>
        <lei>N/A</lei>
        <title>SURGERY CENTER HOLDINGS REGD 144A P/P 10.00000000</title>
        <cusip>86881WAD4</cusip>
        <identifiers>
          <isin value="US86881WAD48"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82892.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMC ENTERTAINME 5.75% 06/15/25</name>
        <lei>N/A</lei>
        <title>AMC ENTERTAINMENT HLDGS REGD SER WI 5.75000000</title>
        <cusip>00165AAH1</cusip>
        <identifiers>
          <isin value="US00165AAH14"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40305.86000000</valUSD>
        <pctVal>0.139236770676</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>ANTERO MIDSTREA 5.75% 01/15/28</name>
        <lei>N/A</lei>
        <title>ANTERO MIDSTREAM PART/FI REGD 144A P/P 5.75000000</title>
        <cusip>03690AAF3</cusip>
        <identifiers>
          <isin value="US03690AAF30"/>
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        <balance>125000.00000000</balance>
        <units>NS</units>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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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>T/L CHESAPEAKE 0% 01/24/2024</name>
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          <isin value="US16516FAH29"/>
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        <fairValLevel>2</fairValLevel>
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        <name>XPO LOGISTICS  6.125% 09/01/23</name>
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          <isin value="US983793AF76"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US68555PAA84"/>
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        <fairValLevel>2</fairValLevel>
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        <name>T/L MCAFEE LLC 0% 09/30/24</name>
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          <isin value="US57906PAG46"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isin value="US79546VAL09"/>
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        <valUSD>152174.16000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <cusip>019576AB3</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>L BRANDS INC 5.625% 10/15/23</name>
        <lei>N/A</lei>
        <title>L BRANDS INC REGD 5.62500000</title>
        <cusip>501797AJ3</cusip>
        <identifiers>
          <isin value="US501797AJ37"/>
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        <balance>50000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>REYNOLDS GRP ISS/R 7% 07/15/24</name>
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        <identifiers>
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        <name>CAESARS RESORT  5.25% 10/15/25</name>
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        <cusip>12652AAA1</cusip>
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          <isin value="US12652AAA16"/>
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        <name>DIAMOND SPORTS 5.375% 08/15/26</name>
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          <isin value="US25277LAA44"/>
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        <name>BAUSCH HEALTH AM 8.5% 01/31/27</name>
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          <isin value="US91911XAW48"/>
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        <name>JBS USA/FOOD/FIN 5.5% 01/15/30</name>
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          <isin value="US46590XAB29"/>
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        <name>WPX ENERGY INC 5.75% 06/01/26</name>
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        <name>BAUSCH HEALTH  6.125% 04/15/25</name>
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        <invCountry>CA</invCountry>

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        <name>JMP 2017-1A AR V/R 07/17/29</name>
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        <title>JMP CREDIT ADVISORS CLO IV LTD SER 2017-1A CL AR V/R REGD 144A P/P 3.11613000</title>
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        <lei>N/A</lei>
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      <invstOrSec>
        <name>CCO HLDGS LLC/CAP  5% 02/01/28</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLEVELAND-CLIF 5.875% 06/01/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VISTRA OPERATIONS  5% 07/31/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW GOLD INC 6.25% 11/15/22</name>
        <lei>N/A</lei>
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          <isin value="US644535AF36"/>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T/L INFORMATICA 0% 02/14/2025</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="LOANX" value="LX185675"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNX MIDSTREAM PT 6.5% 03/15/26</name>
        <lei>N/A</lei>
        <title>CNX MIDSTREAM PTR/CNX REGD 144A P/P 6.50000000</title>
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          <isin value="US12654TAA88"/>
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        <curCd>USD</curCd>
        <valUSD>20481.11000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T/L PLAYTIKA HOLDIN 0% 12/10/24</name>
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          <isin value="US72814CAE84"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>ASHTON WOODS US 6.75% 08/01/25</name>
        <lei>N/A</lei>
        <title>ASHTON WOODS USA/FINANCE REGD 144A P/P 6.75000000</title>
        <cusip>045086AF2</cusip>
        <identifiers>
          <isin value="US045086AF21"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103699.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
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      <invstOrSec>
        <name>MGM RESORTS INTL 5.5% 04/15/27</name>
        <lei>N/A</lei>
        <title>MGM RESORTS INTL REGD 5.50000000</title>
        <cusip>552953CF6</cusip>
        <identifiers>
          <isin value="US552953CF65"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27465.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AECOM 5.125% 03/15/27</name>
        <lei>N/A</lei>
        <title>AECOM REGD SER WI 5.12500000</title>
        <cusip>00774CAB3</cusip>
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          <isin value="US00774CAB37"/>
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        <curCd>USD</curCd>
        <valUSD>129312.69000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR COM 5.291% 12/08/46</name>
        <lei>N/A</lei>
        <title>FORD MOTOR COMPANY REGD 5.29100000</title>
        <cusip>345370CS7</cusip>
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          <isin value="US345370CS72"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160248.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-08</maturityDt>
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      <invstOrSec>
        <name>MPT OPER PARTNERSP 5% 10/15/27</name>
        <lei>N/A</lei>
        <title>MPT OPER PARTNERSP/FINL REGD 5.00000000</title>
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          <isin value="US55342UAH77"/>
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        <name>BROOKFIELD RES 4.875% 02/15/30</name>
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        <title>BROOKFIELD RESID PROPERT REGD 144A P/P 4.87500000</title>
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          <isin value="US11283YAD22"/>
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        <name>BOMBARDIER INC 7.5% 12/01/24</name>
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        <title>BOMBARDIER INC REGD 144A P/P 7.50000000</title>
        <cusip>097751BR1</cusip>
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          <isin value="US097751BR13"/>
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        <name>CORNERSTONE CHE 6.75% 08/15/24</name>
        <lei>N/A</lei>
        <title>CORNERSTONE CHEMICAL CO REGD 144A P/P 6.75000000</title>
        <cusip>21925AAE5</cusip>
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          <isin value="US21925AAE55"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CITGO HOLDING I 9.25% 08/01/24</name>
        <lei>N/A</lei>
        <title>CITGO HOLDING INC REGD 144A P/P 9.25000000</title>
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          <isin value="US17302WAB46"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOMBARDIER INC 8.75% 12/01/21</name>
        <lei>N/A</lei>
        <title>BOMBARDIER INC REGD 144A P/P 8.75000000</title>
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          <isin value="US097751BP56"/>
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        <curCd>USD</curCd>
        <valUSD>79878.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ADIENT GLOBAL  4.875% 08/15/26</name>
        <lei>N/A</lei>
        <title>ADIENT GLOBAL HOLDINGS REGD 144A P/P 4.87500000</title>
        <cusip>00687YAA3</cusip>
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          <isin value="US00687YAA38"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>172406.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>T/L SOLENIS INTERN 0% 06/26/26</name>
        <lei>N/A</lei>
        <title>T/L SOLENIS INTERNATIONAL L P  REGD 0.00000000</title>
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          <isin value="US83420LAN10"/>
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        <curCd>USD</curCd>
        <valUSD>94500.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JBS USA/FOOD/FIN 6.5% 04/15/29</name>
        <lei>N/A</lei>
        <title>JBS USA/FOOD/FINANCE REGD 144A P/P 6.50000000</title>
        <cusip>46590XAA4</cusip>
        <identifiers>
          <isin value="US46590XAA46"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5431.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>F/C US 5YR NOTE (CBT) JUN20</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="FVM0 XCBT"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>613750.00000000</valUSD>
        <pctVal>2.120202074896</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
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                <issuerName>F/C US 5YR NOTE (CBT) JUN20</issuerName>
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                  <ticker value="FVM0 XCBT"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RADIATE HOLDCO 6.875% 02/15/23</name>
        <lei>N/A</lei>
        <title>RADIATE HOLDCO / FINANCE REGD 144A P/P 6.87500000</title>
        <cusip>75026JAB6</cusip>
        <identifiers>
          <isin value="US75026JAB61"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>T/L TIBCO SOFT 0% 02/14/28</name>
        <lei>N/A</lei>
        <title>T/L TIBCO SOFTWARE INC REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX185650"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50937.50000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NABORS INDUSTRIE 7.5% 01/15/28</name>
        <lei>N/A</lei>
        <title>NABORS INDUSTRIES LTD REGD 144A P/P 7.50000000</title>
        <cusip>629571AB6</cusip>
        <identifiers>
          <isin value="US629571AB69"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24038.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASCENT RESOURCES/ 10% 04/01/22</name>
        <lei>N/A</lei>
        <title>ASCENT RESOURCES/ARU FIN REGD 144A P/P 10.00000000</title>
        <cusip>04364VAA1</cusip>
        <identifiers>
          <isin value="US04364VAA17"/>
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        <balance>175000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149300.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED RENTALS  5.25% 01/15/30</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 5.25000000</title>
        <cusip>911365BL7</cusip>
        <identifiers>
          <isin value="US911365BL76"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>211684.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TRANSOCEAN INC 7.5% 01/15/26</name>
        <lei>N/A</lei>
        <title>TRANSOCEAN INC REGD 144A P/P 7.50000000</title>
        <cusip>893830BF5</cusip>
        <identifiers>
          <isin value="US893830BF55"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40270.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CNX RESOURCES C 7.25% 03/14/27</name>
        <lei>N/A</lei>
        <title>CNX RESOURCES CORP REGD 144A P/P 7.25000000</title>
        <cusip>12653CAC2</cusip>
        <identifiers>
          <isin value="US12653CAC29"/>
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        <curCd>USD</curCd>
        <valUSD>74101.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>M/I HOMES INC 5.625% 08/01/25</name>
        <lei>N/A</lei>
        <title>M/I HOMES INC REGD SER WI 5.62500000</title>
        <cusip>55305BAQ4</cusip>
        <identifiers>
          <isin value="US55305BAQ41"/>
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        <valUSD>52307.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>REGIONALCARE/LI 9.75% 12/01/26</name>
        <lei>N/A</lei>
        <title>REGIONALCARE/LIFEPOINT REGD 144A P/P 9.75000000</title>
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          <isin value="US53219LAR06"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>T/L SOLENIS INTERN 0% 06/26/25</name>
        <lei>N/A</lei>
        <title>T/L SOLENIS INTERNATIONAL L P  REGD 0.00000000</title>
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          <isin value="US83420LAK70"/>
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        <curCd>USD</curCd>
        <valUSD>96758.83000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>REFINITIV US HO 8.25% 11/15/26</name>
        <lei>N/A</lei>
        <title>REFINITIV US HOLDINGS REGD 144A P/P 8.25000000</title>
        <cusip>31740LAC7</cusip>
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          <isin value="US31740LAC72"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>370265.32000000</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>
        <name>KB HOME 4.8% 11/15/29</name>
        <lei>N/A</lei>
        <title>KB HOME REGD 4.80000000</title>
        <cusip>48666KAY5</cusip>
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          <isin value="US48666KAY55"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26415.57000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CEC ENTERTAINMENT  8% 02/15/22</name>
        <lei>N/A</lei>
        <title>CEC ENTERTAINMENT INC REGD SER WI 8.00000000</title>
        <cusip>125137AB5</cusip>
        <identifiers>
          <isin value="US125137AB57"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73240.74000000</valUSD>
        <pctVal>0.253010458517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIT GROUP INC 6.125% 03/09/28</name>
        <lei>N/A</lei>
        <title>CIT GROUP INC REGD 6.12500000</title>
        <cusip>125581GX0</cusip>
        <identifiers>
          <isin value="US125581GX07"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60059.01000000</valUSD>
        <pctVal>0.207474114245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RADIATE HOLDCO 6.625% 02/15/25</name>
        <lei>N/A</lei>
        <title>RADIATE HOLDCO / FINANCE REGD 144A P/P 6.62500000</title>
        <cusip>75026JAA8</cusip>
        <identifiers>
          <isin value="US75026JAA88"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60240.51000000</valUSD>
        <pctVal>0.208101106794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIGICEL LTD 6.75% 03/01/23</name>
        <lei>N/A</lei>
        <title>DIGICEL LTD REGD 144A P/P 6.75000000</title>
        <cusip>25380QAH2</cusip>
        <identifiers>
          <isin value="US25380QAH20"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>257472.62000000</valUSD>
        <pctVal>0.889440298416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TALLGRASS NRG PR 5.5% 01/15/28</name>
        <lei>N/A</lei>
        <title>TALLGRASS NRG PRTNR/FIN REGD 144A P/P 5.50000000</title>
        <cusip>87470LAD3</cusip>
        <identifiers>
          <isin value="US87470LAD38"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111327.89000000</valUSD>
        <pctVal>0.384582685738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>PGIM Institutional Money Market Fund</name>
        <lei>549300UFBY0ODDBBOT83</lei>
        <title>PGIM Institutional Money Market Fund</title>
        <cusip>74440E300</cusip>
        <identifiers>
          <isin value="US74440E3009"/>
        </identifiers>
        <balance>1048553.90000000</balance>
        <units>OU</units>
        <descOthUnits>N/A</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>1048553.90000000</valUSD>
        <pctVal>3.622234060156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Money Market Fund"/>
        <issuerConditional desc="Money Market Fund" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1048553.90000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>PGIM ETF TRUST </ncom:nameOfApplicant>
      <ncom:signature>Christian J. Kelly </ncom:signature>
      <ncom:signerName>Christian J. Kelly </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial and Accounting Officer </ncom:title>
    </signature>
  </formData>
</edgarSubmission>
