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      <invstOrSec>
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        <name>MILLROSE PROPE 6.375% 08/01/30</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>KB HOME 4.8% 11/15/29</name>
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          <isin value="US48666KAY55"/>
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      <invstOrSec>
        <name>CLEARWATER PAPE 4.75% 08/15/28</name>
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          <isin value="US911365BR47"/>
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        <name>AMERITEX HOLDC 7.625% 08/15/33</name>
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        <cusip>030727AB7</cusip>
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          <isin value="US030727AB71"/>
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        <name>TRANSDIGM INC 6.875% 12/15/30</name>
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          <isin value="US893647BS53"/>
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        <name>INEOS FINANCE PL 7.5% 04/15/29</name>
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          <isin value="US44984WAJ62"/>
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        <invCountry>GB</invCountry>

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        <name>LGI HOMES INC 7% 11/15/32</name>
        <lei>549300W02B4WNV8CV109</lei>
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        <name>ONESKY FLIGHT  8.875% 12/15/29</name>
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        <name>ALUMINA PTY LT 6.125% 03/15/30</name>
        <lei>2138002VD9MW2WT8HR38</lei>
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        <cusip>02220AAA5</cusip>
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        <name>CLEAN HARBORS  5.125% 07/15/29</name>
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          <isin value="US12550EAA64"/>
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        <name>INGEVITY CORP 3.875% 11/01/28</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AXALTA COATING  7.25% 02/15/31</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CARRIAGE PURCH 7.875% 10/15/29</name>
        <lei>N/A</lei>
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          <isin value="US14445LAA52"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EMPIRE COMMUNIT 9.75% 05/01/29</name>
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          <isin value="US29163VAG86"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FMC CORP 3.45% 10/01/29</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
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        <cusip>302491AU9</cusip>
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          <isin value="US302491AU91"/>
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        <curCd>USD</curCd>
        <valUSD>49419.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TAYLOR MORRISON 5.75% 11/15/32</name>
        <lei>N/A</lei>
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        <cusip>87724RAK8</cusip>
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          <isin value="US87724RAK86"/>
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        <balance>55000.00000000</balance>
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        <valUSD>56481.43000000</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>2032-11-15</maturityDt>
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      <invstOrSec>
        <name>TOPBUILD CORP 5.625% 01/31/34</name>
        <lei>5493007YSKHOL4RWII46</lei>
        <title>TOPBUILD CORP REGD 144A P/P 5.62500000</title>
        <cusip>89055FAD5</cusip>
        <identifiers>
          <isin value="US89055FAD50"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80771.04000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-31</maturityDt>
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      <invstOrSec>
        <name>TRANSDIGM INC 6% 01/15/33</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD 144A P/P 6.00000000</title>
        <cusip>893647BW6</cusip>
        <identifiers>
          <isin value="US893647BW65"/>
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        <curCd>USD</curCd>
        <valUSD>173318.91000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ADT SEC CORP 5.875% 10/15/33</name>
        <lei>N/A</lei>
        <title>ADT SEC CORP REGD 144A P/P 5.87500000</title>
        <cusip>00109LAB9</cusip>
        <identifiers>
          <isin value="US00109LAB99"/>
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        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106509.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TRONOX INC 9.125% 09/30/30</name>
        <lei>N/A</lei>
        <title>TRONOX INC REGD 144A P/P 9.12500000</title>
        <cusip>897051AD0</cusip>
        <identifiers>
          <isin value="US897051AD02"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44432.23000000</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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      <invstOrSec>
        <name>GFL ENVIRONMEN 4.375% 08/15/29</name>
        <lei>894500E7NLBY9VZRT696</lei>
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        <cusip>36168QAP9</cusip>
        <identifiers>
          <isin value="US36168QAP90"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

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      <invstOrSec>
        <name>PERIMETER HOL 6.25% 01/15/34</name>
        <lei>N/A</lei>
        <title>PERIMETER HOL REGD 144A P/P 6.25000000</title>
        <cusip>71384AAA2</cusip>
        <identifiers>
          <isin value="US71384AAA25"/>
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        <name>AVIS BUDGET CAR/FI 8% 02/15/31</name>
        <lei>N/A</lei>
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        <cusip>053773BH9</cusip>
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          <isin value="US053773BH95"/>
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        <name>ARCOSA INC 6.875% 08/15/32</name>
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        <cusip>039653AC4</cusip>
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          <isin value="US039653AC46"/>
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        <name>STENA INTERNATI 7.25% 01/15/31</name>
        <lei>N/A</lei>
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          <isin value="US85858EAD58"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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          <couponKind>Fixed</couponKind>
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        <name>CELANESE US HOL 7.33% 07/15/29</name>
        <lei>N/A</lei>
        <title>CELANESE US HOLDINGS LLC REGD 7.33000000</title>
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          <isin value="US15089QAN43"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CLEVELAND-CLIFF 6.75% 04/15/30</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 6.75000000</title>
        <cusip>185899AN1</cusip>
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          <isin value="US185899AN14"/>
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        <curCd>USD</curCd>
        <valUSD>76784.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>FMC CORP 4.5% 10/01/49</name>
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        <name>CELANESE US HOLD 6.5% 04/15/30</name>
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          <isin value="US15089QAZ72"/>
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        <name>CVR PARTNERS/C 6.125% 06/15/28</name>
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          <isin value="US12663QAC96"/>
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        <name>MOOG INC 4.25% 12/15/27</name>
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          <isin value="US615394AM52"/>
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        <name>HERTZ CORP/THE 5% 12/01/29</name>
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          <isin value="US428040DB25"/>
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        <valUSD>69252.25000000</valUSD>
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        <name>JB POINDEXTER &amp; 8.75% 12/15/31</name>
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        <name>TRONOX INC 4.625% 03/15/29</name>
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          <isin value="US897051AC29"/>
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        <name>PARK RIVER HOLD 8.75% 12/31/30</name>
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        <name>CLARIV SCI HLD 4.875% 07/01/29</name>
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        <lei>SM8L9RZYIB34LNTWO040</lei>
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        <name>METHANEX CORP 5.125% 10/15/27</name>
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        <name>OI EUROPEAN GRO 4.75% 02/15/30</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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        <name>SEALED AIR CORP 5% 04/15/29</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
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          <isin value="US81211KBA79"/>
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        <valUSD>45321.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>BRINK'S CO/THE 6.5% 06/15/29</name>
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        <name>JETBLUE AIRWAY 9.875% 09/20/31</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BALL CORP 5.5% 09/15/33</name>
        <lei>0BGI85ALH27ZJP15DY16</lei>
        <title>BALL CORP REGD 5.50000000</title>
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        <valUSD>81357.68000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRI POINTE HOME 5.25% 06/01/27</name>
        <lei>N/A</lei>
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          <isin value="US87265HAF64"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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      <invstOrSec>
        <name>VISTAJET MALTA/V 9.5% 06/01/28</name>
        <lei>N/A</lei>
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        <cusip>92841HAA0</cusip>
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          <isin value="US92841HAA05"/>
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        <valUSD>57257.42000000</valUSD>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ATI INC 7.25% 08/15/30</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI INC REGD 7.25000000</title>
        <cusip>01741RAN2</cusip>
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          <isin value="US01741RAN26"/>
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        <balance>40000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
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      <invstOrSec>
        <name>LGI HOMES INC 8.75% 12/15/28</name>
        <lei>549300W02B4WNV8CV109</lei>
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        <cusip>50187TAH9</cusip>
        <identifiers>
          <isin value="US50187TAH95"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41710.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>ENVIRI CORP 5.75% 07/31/27</name>
        <lei>KAO98FK89NPNNPQGUZ43</lei>
        <title>ENVIRI CORP REGD 144A P/P 5.75000000</title>
        <cusip>415864AM9</cusip>
        <identifiers>
          <isin value="US415864AM90"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50087.10000000</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>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FORTESCUE TREASU 4.5% 09/15/27</name>
        <lei>N/A</lei>
        <title>FORTESCUE TREASURY PTY L REGD 144A P/P 4.50000000</title>
        <cusip>30251GBA4</cusip>
        <identifiers>
          <isin value="US30251GBA40"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65053.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>ASHLAND INC 6.875% 05/15/43</name>
        <lei>529900E4L9R04SB8HB11</lei>
        <title>ASHLAND INC REGD SER WI 6.87500000</title>
        <cusip>044209AM6</cusip>
        <identifiers>
          <isin value="US044209AM68"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31866.90000000</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>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW ENTERPRISE  5.25% 07/15/28</name>
        <lei>549300O5DQ5Y61B8VF38</lei>
        <title>NEW ENTERPRISE STONE &amp; L REGD 144A P/P 5.25000000</title>
        <cusip>644274AH5</cusip>
        <identifiers>
          <isin value="US644274AH54"/>
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        <balance>62000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62063.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>NOVELIS CORP 6.875% 01/30/30</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 6.87500000</title>
        <cusip>670001AL0</cusip>
        <identifiers>
          <isin value="US670001AL04"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82963.28000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-30</maturityDt>
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          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>CELANESE US HOLD 7.2% 11/15/33</name>
        <lei>N/A</lei>
        <title>CELANESE US HOLDINGS LLC REGD 7.20000000</title>
        <cusip>15089QAY0</cusip>
        <identifiers>
          <isin value="US15089QAY08"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>111145.86000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
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        <name>OWENS-BROCKWAY 6.625% 05/13/27</name>
        <lei>N/A</lei>
        <title>OWENS-BROCKWAY REGD 144A P/P 6.62500000</title>
        <cusip>69073TAT0</cusip>
        <identifiers>
          <isin value="US69073TAT07"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70405.86000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-13</maturityDt>
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        <name>TRANSDIGM INC 4.625% 01/15/29</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD SER WI 4.62500000</title>
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          <isin value="US893647BP15"/>
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        <name>WEEKLEY HOMES  4.875% 09/15/28</name>
        <lei>N/A</lei>
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        <cusip>948565AD8</cusip>
        <identifiers>
          <isin value="US948565AD85"/>
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        <valUSD>39507.05000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <name>WESCO DISTRIBU 6.375% 03/15/29</name>
        <lei>N/A</lei>
        <title>WESCO DISTRIBUTION INC REGD 144A P/P 6.37500000</title>
        <cusip>95081QAQ7</cusip>
        <identifiers>
          <isin value="US95081QAQ73"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>SCIH SALT HOLD 6.625% 05/01/29</name>
        <lei>N/A</lei>
        <title>SCIH SALT HOLDINGS INC REGD 144A P/P 6.62500000</title>
        <cusip>78433BAB4</cusip>
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          <isin value="US78433BAB45"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75029.06000000</valUSD>
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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>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>COMMERCIAL MET 3.875% 02/15/31</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS CO REGD 3.87500000</title>
        <cusip>201723AP8</cusip>
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          <isin value="US201723AP84"/>
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        <balance>30000.00000000</balance>
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      <invstOrSec>
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      <invstOrSec>
        <name>ELDORADO GOLD C 6.25% 09/01/29</name>
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        <name>COEUR MINING I 5.125% 02/15/29</name>
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        <name>FXI HOLDINGS INC 11% 11/15/30</name>
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        <name>AXALTA COAT/DUT 4.75% 06/15/27</name>
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        <name>WRANGLER HOLDC 6.625% 04/01/32</name>
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          <isin value="US37441QAA94"/>
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        <name>MADISON IAQ LL 5.875% 06/30/29</name>
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        <name>ADT SEC CORP 4.125% 08/01/29</name>
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        <name>CELANESE US HOL 6.85% 11/15/28</name>
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        <name>CONDUENT BUS SERVI 6% 11/01/29</name>
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        <name>CORELOGIC INC 4.5% 05/01/28</name>
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        <name>OLYMPUS WTR US  7.25% 02/15/33</name>
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        <name>GARDA WORLD SECU 6.5% 01/15/31</name>
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        <name>MUELLER WATER PROD 4% 06/15/29</name>
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        <name>HILLENBRAND INC 6.25% 02/15/29</name>
        <lei>U246OE781574J2BUD366</lei>
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        <name>AXON ENTERPRIS 6.125% 03/15/30</name>
        <lei>549300QP2IEEGFE16681</lei>
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        <name>MADISON IAQ LL 4.125% 06/30/28</name>
        <lei>549300IXDNBXNHUPBU73</lei>
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        <cusip>55760LAA5</cusip>
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        <name>OLYMPUS WTR US  4.25% 10/01/28</name>
        <lei>549300YU2GGVCBN3MY89</lei>
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        <name>H.B. FULLER CO 4% 02/15/27</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
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        <cusip>359694AB2</cusip>
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        <name>STANDARD INDUS 3.375% 01/15/31</name>
        <lei>N/A</lei>
        <title>STANDARD INDUSTRI INC/NY REGD 144A P/P 3.37500000</title>
        <cusip>853496AH0</cusip>
        <identifiers>
          <isin value="US853496AH04"/>
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        <balance>117000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108050.06000000</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>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DANAOS CORP 8.5% 03/01/28</name>
        <lei>734IM3DNDNT36T7YTD24</lei>
        <title>DANAOS CORP REGD 144A P/P 8.50000000</title>
        <cusip>23585WAA2</cusip>
        <identifiers>
          <isin value="US23585WAA27"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25064.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AECOM 6% 08/01/33</name>
        <lei>0EEB8GF0W0NPCIHZX097</lei>
        <title>AECOM REGD 144A P/P 6.00000000</title>
        <cusip>00766TAE0</cusip>
        <identifiers>
          <isin value="US00766TAE01"/>
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        <balance>130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133263.91000000</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>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TUTOR PERINI  11.875% 04/30/29</name>
        <lei>549300FHXYVPW8LJ6D98</lei>
        <title>TUTOR PERINI CORP REGD 144A P/P 11.87500000</title>
        <cusip>901109AG3</cusip>
        <identifiers>
          <isin value="US901109AG35"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44193.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GRAPHIC PACKAGI 3.75% 02/01/30</name>
        <lei>N/A</lei>
        <title>GRAPHIC PACKAGING INTERN REGD 144A P/P 3.75000000</title>
        <cusip>38869AAD9</cusip>
        <identifiers>
          <isin value="US38869AAD90"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42537.65000000</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>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KAISER ALUMINU 5.875% 03/01/34</name>
        <lei>N/A</lei>
        <title>KAISER ALUMINUM CORP REGD 144A P/P 5.87500000</title>
        <cusip>483007AM2</cusip>
        <identifiers>
          <isin value="US483007AM21"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55477.57000000</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>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STANDARD BUILD 5.875% 03/15/34</name>
        <lei>N/A</lei>
        <title>STANDARD BUILDING SOLUTI REGD 144A P/P 5.87500000</title>
        <cusip>853192AA0</cusip>
        <identifiers>
          <isin value="US853192AA08"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74976.67000000</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>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATI INC 5.875% 12/01/27</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI INC REGD 5.87500000</title>
        <cusip>01741RAH5</cusip>
        <identifiers>
          <isin value="US01741RAH57"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40191.70000000</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>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SNF GROUP SACA 3.125% 03/15/27</name>
        <lei>969500F7036FEDYPRV54</lei>
        <title>SNF GROUP SACA REGD 144A P/P 3.12500000</title>
        <cusip>7846ELAD9</cusip>
        <identifiers>
          <isin value="US7846ELAD98"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34490.25000000</valUSD>
        <pctVal>0.092157499097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TKC HOLDINGS I 6.875% 05/15/28</name>
        <lei>N/A</lei>
        <title>TKC HOLDINGS INC REGD 144A P/P 6.87500000</title>
        <cusip>87256YAC7</cusip>
        <identifiers>
          <isin value="US87256YAC75"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45424.67000000</valUSD>
        <pctVal>0.121374127021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>GOAT HOLDCO LLC 6.75% 02/01/32</name>
        <lei>N/A</lei>
        <title>GOAT HOLDCO LLC REGD 144A P/P 6.75000000</title>
        <cusip>38021MAA4</cusip>
        <identifiers>
          <isin value="US38021MAA45"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82218.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>HERC HOLDINGS INC 7% 06/15/30</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HERC HOLDINGS INC REGD 144A P/P 7.00000000</title>
        <cusip>42704LAF1</cusip>
        <identifiers>
          <isin value="US42704LAF13"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183782.03000000</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>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>M/I HOMES INC 4.95% 02/01/28</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>M/I HOMES INC REGD 4.95000000</title>
        <cusip>55305BAS0</cusip>
        <identifiers>
          <isin value="US55305BAS07"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44918.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <name>SYNERGY INFRAS 7.875% 12/01/30</name>
        <lei>N/A</lei>
        <title>SYNERGY INFRASTRUCTURE H REGD 144A P/P 7.87500000</title>
        <cusip>87191JAA2</cusip>
        <identifiers>
          <isin value="US87191JAA25"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62738.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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      <invstOrSec>
        <name>HUNTSMAN INTERNA 4.5% 05/01/29</name>
        <lei>N/A</lei>
        <title>HUNTSMAN INTERNATIONAL L REGD 4.50000000</title>
        <cusip>44701QBE1</cusip>
        <identifiers>
          <isin value="US44701QBE17"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77002.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CELANESE US HO 7.379% 07/15/32</name>
        <lei>N/A</lei>
        <title>CELANESE US HOLDINGS LLC REGD 7.37900000</title>
        <cusip>15089QAP9</cusip>
        <identifiers>
          <isin value="US15089QAP90"/>
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        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109634.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.37900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>NOVA CHEMICALS  4.25% 05/15/29</name>
        <lei>N/A</lei>
        <title>NOVA CHEMICALS CORP REGD 144A P/P 4.25000000</title>
        <cusip>66977WAS8</cusip>
        <identifiers>
          <isin value="US66977WAS89"/>
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        <balance>61000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59531.71000000</valUSD>
        <pctVal>0.159067954293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</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>NEPTUNE BIDCO 10.375% 05/15/31</name>
        <lei>N/A</lei>
        <title>NEPTUNE BIDCO US INC REGD 144A P/P 10.37500000</title>
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        <identifiers>
          <isin value="US640695AC66"/>
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        <curCd>USD</curCd>
        <valUSD>126980.23000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OSCAR ACQUISITIO 9.5% 04/15/30</name>
        <lei>N/A</lei>
        <title>OSCAR ACQUISITIONCO LLC REGD 144A P/P 9.50000000</title>
        <cusip>687785AB1</cusip>
        <identifiers>
          <isin value="US687785AB10"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38512.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN AIRLIN 5.75% 04/20/29</name>
        <lei>N/A</lei>
        <title>AMERICAN AIRLINES/AADVAN REGD 144A P/P 5.75000000</title>
        <cusip>00253XAB7</cusip>
        <identifiers>
          <isin value="US00253XAB73"/>
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        <curCd>USD</curCd>
        <valUSD>323484.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>OWENS-BROCKWAY 7.25% 05/15/31</name>
        <lei>N/A</lei>
        <title>OWENS-BROCKWAY REGD 144A P/P 7.25000000</title>
        <cusip>69073TAU7</cusip>
        <identifiers>
          <isin value="US69073TAU79"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71329.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>BUILDERS FIRSTSOUR 5% 03/01/30</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>BUILDERS FIRSTSOURCE INC REGD 144A P/P 5.00000000</title>
        <cusip>12008RAN7</cusip>
        <identifiers>
          <isin value="US12008RAN70"/>
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        <balance>57000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56824.99000000</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>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>WILSONART LLC 11% 08/15/32</name>
        <lei>N/A</lei>
        <title>WILSONART LLC REGD 144A P/P 11.00000000</title>
        <cusip>97246JAA6</cusip>
        <identifiers>
          <isin value="US97246JAA60"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50289.61000000</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>2032-08-15</maturityDt>
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      <invstOrSec>
        <name>HUNTSMAN INTERNA 5.7% 10/15/34</name>
        <lei>N/A</lei>
        <title>HUNTSMAN INTERNATIONAL L REGD 5.70000000</title>
        <cusip>44701QBG6</cusip>
        <identifiers>
          <isin value="US44701QBG64"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37399.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JELD-WEN INC 4.875% 12/15/27</name>
        <lei>N/A</lei>
        <title>JELD-WEN INC REGD 144A P/P 4.87500000</title>
        <cusip>475795AD2</cusip>
        <identifiers>
          <isin value="US475795AD24"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39583.57000000</valUSD>
        <pctVal>0.105766783845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>SIGNAL PARENT  6.125% 04/01/29</name>
        <lei>N/A</lei>
        <title>SIGNAL PARENT INC REGD 144A P/P 6.12500000</title>
        <cusip>82666QAA3</cusip>
        <identifiers>
          <isin value="US82666QAA31"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14350.00000000</valUSD>
        <pctVal>0.038343013229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>WILLIAMS SCOTS 6.625% 04/15/30</name>
        <lei>N/A</lei>
        <title>WILLIAMS SCOTSMAN INC REGD 144A P/P 6.62500000</title>
        <cusip>96949VAN3</cusip>
        <identifiers>
          <isin value="US96949VAN38"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57023.23000000</valUSD>
        <pctVal>0.152365328382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>WILLIAMS SCOTS 7.375% 10/01/31</name>
        <lei>N/A</lei>
        <title>WILLIAMS SCOTSMAN INC REGD 144A P/P 7.37500000</title>
        <cusip>96949VAL7</cusip>
        <identifiers>
          <isin value="US96949VAL71"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52160.90000000</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>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>STL HOLDING CO  8.75% 02/15/29</name>
        <lei>984500BC2I63E7F48656</lei>
        <title>STL HOLDING CO LLC REGD 144A P/P 8.75000000</title>
        <cusip>861036AB7</cusip>
        <identifiers>
          <isin value="US861036AB75"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31660.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>FXI HOLDINGS INC 14% 11/15/29</name>
        <lei>N/A</lei>
        <title>FXI HOLDINGS INC REGD 144A P/P 14.00000000</title>
        <cusip>36120RAJ8</cusip>
        <identifiers>
          <isin value="US36120RAJ86"/>
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        <balance>63520.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36844.14000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW HOME CO INC/ 8.5% 11/01/30</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
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        <cusip>645370AG2</cusip>
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          <isin value="US645370AG22"/>
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        <curCd>USD</curCd>
        <valUSD>46930.41000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WEEKLEY HOMES L 6.75% 01/15/34</name>
        <lei>N/A</lei>
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        <cusip>948565AF3</cusip>
        <identifiers>
          <isin value="US948565AF34"/>
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        <curCd>USD</curCd>
        <valUSD>45287.51000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JELD-WEN INC 7% 09/01/32</name>
        <lei>N/A</lei>
        <title>JELD-WEN INC REGD 144A P/P 7.00000000</title>
        <cusip>47580PAA1</cusip>
        <identifiers>
          <isin value="US47580PAA12"/>
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        <curCd>USD</curCd>
        <valUSD>21957.24000000</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>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NOVELIS CORP 6.375% 08/15/33</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 6.37500000</title>
        <cusip>670001AN6</cusip>
        <identifiers>
          <isin value="US670001AN69"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81551.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</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>
        <name>ASHLAND INC 3.375% 09/01/31</name>
        <lei>529900E4L9R04SB8HB11</lei>
        <title>ASHLAND INC REGD 144A P/P 3.37500000</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEALED AIR COR 6.875% 07/15/33</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>SEALED AIR CORP REGD P/P 6.87500000</title>
        <cusip>81211KAK6</cusip>
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          <isin value="US81211KAK60"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CASCADES INC/US 6.75% 07/15/30</name>
        <lei>N/A</lei>
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        <cusip>14739LAD4</cusip>
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          <isin value="US14739LAD47"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLYDESDALE ACQ 6.625% 04/15/29</name>
        <lei>254900QKSDYFR3K5YD98</lei>
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        <cusip>18972EAA3</cusip>
        <identifiers>
          <isin value="US18972EAA38"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>H.B. FULLER CO 4.25% 10/15/28</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
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        <cusip>40410KAA3</cusip>
        <identifiers>
          <isin value="US40410KAA34"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STONEPEAK NILE  7.25% 03/15/32</name>
        <lei>N/A</lei>
        <title>STONEPEAK NILE PARENT REGD 144A P/P 7.25000000</title>
        <cusip>861932AA9</cusip>
        <identifiers>
          <isin value="US861932AA97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OLIN CORP 5% 02/01/30</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>OLIN CORP REGD 5.00000000</title>
        <cusip>680665AK2</cusip>
        <identifiers>
          <isin value="US680665AK27"/>
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        <balance>55000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GRAFTECH GLOBA 9.875% 12/23/29</name>
        <lei>N/A</lei>
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        <cusip>38431AAB2</cusip>
        <identifiers>
          <isin value="US38431AAB26"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42780.63000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>QXO BUILDING PR 6.75% 04/30/32</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>QXO BUILDING PRODUCTS REGD 144A P/P 6.75000000</title>
        <cusip>74825NAA5</cusip>
        <identifiers>
          <isin value="US74825NAA54"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252696.68000000</valUSD>
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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>BEAZER HOMES US 7.25% 10/15/29</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>BEAZER HOMES USA REGD SER WI 7.25000000</title>
        <cusip>07556QBT1</cusip>
        <identifiers>
          <isin value="US07556QBT13"/>
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        <balance>39000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39496.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TRANSDIGM INC 4.875% 05/01/29</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD SER WI 4.87500000</title>
        <cusip>893647BQ9</cusip>
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          <isin value="US893647BQ97"/>
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        <balance>95000.00000000</balance>
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        <valUSD>94877.41000000</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>ALCOA NEDERLAN 7.125% 03/15/31</name>
        <lei>N/A</lei>
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        <cusip>013822AH4</cusip>
        <identifiers>
          <isin value="US013822AH42"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84679.12000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
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      <invstOrSec>
        <name>NOVA CHEMICALS COR 7% 12/01/31</name>
        <lei>N/A</lei>
        <title>NOVA CHEMICALS CORP REGD 144A P/P 7.00000000</title>
        <cusip>66977WAV1</cusip>
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          <isin value="US66977WAV19"/>
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        <valUSD>48218.45000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CORECIVIC INC 8.25% 04/15/29</name>
        <lei>529900JFA3K6PTLT8B15</lei>
        <title>CORECIVIC INC REGD 8.25000000</title>
        <cusip>21871NAC5</cusip>
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          <isin value="US21871NAC56"/>
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        <balance>55000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>WILLIAMS SCOTS 6.625% 06/15/29</name>
        <lei>N/A</lei>
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        <cusip>96949VAM5</cusip>
        <identifiers>
          <isin value="US96949VAM54"/>
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        <valUSD>51727.25000000</valUSD>
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        <name>JAMES HARDIE INTL  5% 01/15/28</name>
        <lei>N/A</lei>
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          <isin value="US47032FAB58"/>
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        <balance>45000.00000000</balance>
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        <valUSD>44974.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>AMSTED INDUSTR 4.625% 05/15/30</name>
        <lei>N2VLGYMEEBIU3PFSUY86</lei>
        <title>AMSTED INDUSTRIES REGD 144A P/P 4.62500000</title>
        <cusip>032177AJ6</cusip>
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          <isin value="US032177AJ66"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44575.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
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        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC REGD P/P 7.45000000</title>
        <cusip>097751AL5</cusip>
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          <isin value="US097751AL51"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALCOA NEDERLAN 4.125% 03/31/29</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US013822AG68"/>
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        <curCd>USD</curCd>
        <valUSD>54354.11000000</valUSD>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOMBARDIER INC 7.5% 02/01/29</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC REGD 144A P/P 7.50000000</title>
        <cusip>097751BZ3</cusip>
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        <valUSD>83151.11000000</valUSD>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>TASEKO MINES LT 8.25% 05/01/30</name>
        <lei>549300XKUO1JSLU7KX54</lei>
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        <cusip>876511AG1</cusip>
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          <isin value="US876511AG15"/>
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        <curCd>USD</curCd>
        <valUSD>58448.06000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>STENA INTERNAT 7.625% 02/15/31</name>
        <lei>N/A</lei>
        <title>STENA INTERNATIONAL SA REGD 144A P/P 7.62500000</title>
        <cusip>85858EAE3</cusip>
        <identifiers>
          <isin value="US85858EAE32"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46613.25000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BWX TECHNOLOGI 4.125% 04/15/29</name>
        <lei>549300NP85N265KWMS58</lei>
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        <cusip>05605HAC4</cusip>
        <identifiers>
          <isin value="US05605HAC43"/>
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        <valUSD>44109.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>WESCO DISTRIBU 6.625% 03/15/32</name>
        <lei>N/A</lei>
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        <cusip>95081QAR5</cusip>
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          <isin value="US95081QAR56"/>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>HUNTSMAN INTERN 2.95% 06/15/31</name>
        <lei>N/A</lei>
        <title>HUNTSMAN INTERNATIONAL L REGD 2.95000000</title>
        <cusip>44701QBF8</cusip>
        <identifiers>
          <isin value="US44701QBF81"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34161.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>XPO INC 7.125% 06/01/31</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO INC REGD 144A P/P 7.12500000</title>
        <cusip>98379KAB8</cusip>
        <identifiers>
          <isin value="US98379KAB89"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51951.90000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TRIMAS CORP 4.125% 04/15/29</name>
        <lei>75G1WUQ8QK4P5MZOYD78</lei>
        <title>TRIMAS CORP REGD 144A P/P 4.12500000</title>
        <cusip>896215AH3</cusip>
        <identifiers>
          <isin value="US896215AH37"/>
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        <balance>43000.00000000</balance>
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        <valUSD>41945.11000000</valUSD>
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      <invstOrSec>
        <name>MINERAL RESOURC 9.25% 10/01/28</name>
        <lei>5299007V1ACKFFX2P066</lei>
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        <cusip>603051AE3</cusip>
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          <isin value="US603051AE37"/>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>ADTALEM GLOBAL E 5.5% 03/01/28</name>
        <lei>549300Z467EZLMODV621</lei>
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        <cusip>00737WAA7</cusip>
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          <isin value="US00737WAA71"/>
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        <name>BIG RIVER STEE 6.625% 01/31/29</name>
        <lei>N/A</lei>
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        <cusip>08949LAB6</cusip>
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          <isin value="US08949LAB62"/>
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        <valUSD>80809.20000000</valUSD>
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        <name>TRANSDIGM INC 6.75% 01/31/34</name>
        <lei>N/A</lei>
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          <isin value="US893647CA37"/>
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        <name>HILLENBRAND INC 3.75% 03/01/31</name>
        <lei>U246OE781574J2BUD366</lei>
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        <cusip>431571AE8</cusip>
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          <isin value="US431571AE83"/>
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        <issuerCat>CORP</issuerCat>
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        <name>IMOLA MERGER CO 4.75% 05/15/29</name>
        <lei>N/A</lei>
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        <cusip>45258LAA5</cusip>
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          <isin value="US45258LAA52"/>
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        <name>BROOKFIELD RES 4.875% 02/15/30</name>
        <lei>N/A</lei>
        <title>BROOKFIELD RESID PROPERT REGD 144A P/P 4.87500000</title>
        <cusip>11283YAD2</cusip>
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          <isin value="US11283YAD22"/>
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        <valUSD>51392.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>OLYMPUS WTR US  6.25% 10/01/29</name>
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        <name>CLYDESDALE ACQU 8.75% 04/15/30</name>
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        <name>AVIS BUDGET CAR 4.75% 04/01/28</name>
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        <name>ALLIED UNIVERS 7.875% 02/15/31</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>MANITOWOC COMPA 9.25% 10/01/31</name>
        <lei>2RTSLGQ89VMY18RHX631</lei>
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        <name>VOLTAGRID LLC 7.375% 11/01/30</name>
        <lei>254900R5BEUGIKK1FM03</lei>
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        <name>SNF GROUP SACA 3.375% 03/15/30</name>
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        <name>GRAND CANYON U 5.125% 10/01/28</name>
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        <name>SHEA HOMES LP/F 4.75% 04/01/29</name>
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        <name>ARDAGH METAL PA 6.25% 01/30/31</name>
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        <name>KB HOME 4% 06/15/31</name>
        <lei>549300LGUCWQURMWLG09</lei>
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          <isin value="US48666KAZ21"/>
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          <isin value="US680665AL00"/>
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        <name>MAUSER PACKAGIN 9.25% 04/15/30</name>
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          <isin value="US57763RAF47"/>
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        <name>VT TOPCO INC 8.5% 08/15/30</name>
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          <isin value="US91838PAA93"/>
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        <name>CORONADO FINANC 9.25% 10/01/29</name>
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          <isin value="US21979LAB27"/>
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        <name>NOVA CHEMICALS  5.25% 06/01/27</name>
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          <isin value="US66977WAR07"/>
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        <identifiers>
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        <name>CHAMPION IRON  7.875% 07/15/32</name>
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        <name>BUILDERS FIRST 6.375% 03/01/34</name>
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        <cusip>12008RAS6</cusip>
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        <name>CENTURY ALUMIN 6.875% 08/01/32</name>
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        <name>HERENS HOLDCO S 4.75% 05/15/28</name>
        <lei>2221002FZ55AMAUX4G64</lei>
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        <name>INFRABUILD AUST 14.5% 11/15/28</name>
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        <lei>SM8L9RZYIB34LNTWO040</lei>
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        <name>INEOS FINANCE P 6.75% 05/15/28</name>
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        <name>CORNERSTONE BU 6.125% 01/15/29</name>
        <lei>549300IW41QEWQ6T0H29</lei>
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          <isin value="US21925DAA72"/>
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        <valUSD>14155.35000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>JNLUVFYJT1OZSIQ24U47</lei>
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        <name>OWENS-BROCKWAY 7.375% 06/01/32</name>
        <lei>N/A</lei>
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        <valUSD>30634.86000000</valUSD>
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      <invstOrSec>
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        <lei>734IM3DNDNT36T7YTD24</lei>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56844.26000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ARDAGH GROUP SA 9.5% 12/01/30</name>
        <lei>N/A</lei>
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        <lei>N/A</lei>
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        <invCountry>CA</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>VALVOLINE INC 3.625% 06/15/31</name>
        <lei>549300CMHPBEY6VPOT75</lei>
        <title>VALVOLINE INC REGD 144A P/P 3.62500000</title>
        <cusip>92047WAG6</cusip>
        <identifiers>
          <isin value="US92047WAG69"/>
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        <balance>57000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52391.82000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TRANSDIGM INC 6.75% 08/15/28</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD 144A P/P 6.75000000</title>
        <cusip>893647BR7</cusip>
        <identifiers>
          <isin value="US893647BR70"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>229067.78000000</valUSD>
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        <assetCat>DBT</assetCat>
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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>
      <invstOrSec>
        <name>BUILDERS FIRST 6.375% 06/15/32</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>BUILDERS FIRSTSOURCE INC REGD 144A P/P 6.37500000</title>
        <cusip>12008RAR8</cusip>
        <identifiers>
          <isin value="US12008RAR84"/>
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        <balance>81000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83551.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-15</maturityDt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>WR GRACE HOLDI 7.375% 03/01/31</name>
        <lei>549300WNOVFRGYOAEB12</lei>
        <title>WR GRACE HOLDING LLC REGD 144A P/P 7.37500000</title>
        <cusip>92943GAE1</cusip>
        <identifiers>
          <isin value="US92943GAE17"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40865.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CROWN AMERICAS 5.875% 06/01/33</name>
        <lei>N/A</lei>
        <title>CROWN AMERICAS LLC REGD 144A P/P 5.87500000</title>
        <cusip>228180AC9</cusip>
        <identifiers>
          <isin value="US228180AC96"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76759.05000000</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>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>EFESTO BIDCO SPA 7.5% 02/15/32</name>
        <lei>N/A</lei>
        <title>EFESTO BIDCO SPA/US LLC REGD 144A P/P SER XR 7.50000000</title>
        <cusip>28201XAB1</cusip>
        <identifiers>
          <isin value="US28201XAB10"/>
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        <balance>90000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92023.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOMBARDIER INC 7% 06/01/32</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC REGD 144A P/P 7.00000000</title>
        <cusip>097751CC3</cusip>
        <identifiers>
          <isin value="US097751CC35"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84077.46000000</valUSD>
        <pctVal>0.224653878821</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>
        <name>SCIENCE APPLIC 4.875% 04/01/28</name>
        <lei>549300LZPNZIXQGZPZ48</lei>
        <title>SCIENCE APPLICATIONS INT REGD 144A P/P 4.87500000</title>
        <cusip>808625AA5</cusip>
        <identifiers>
          <isin value="US808625AA58"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44912.43000000</valUSD>
        <pctVal>0.120005428408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</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>
        <name>SILGAN HOLDING 4.125% 02/01/28</name>
        <lei>KAF673KJXD92C8KSLU49</lei>
        <title>SILGAN HOLDINGS INC REGD 4.12500000</title>
        <cusip>827048AW9</cusip>
        <identifiers>
          <isin value="US827048AW93"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59514.52000000</valUSD>
        <pctVal>0.159022022837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>
        <name>GFL ENVIRONMENTAL  4% 08/01/28</name>
        <lei>894500E7NLBY9VZRT696</lei>
        <title>GFL ENVIRONMENTAL INC REGD 144A P/P 4.00000000</title>
        <cusip>36168QAL8</cusip>
        <identifiers>
          <isin value="US36168QAL86"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78781.70000000</valUSD>
        <pctVal>0.210503677028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PATRICK INDUSTR 4.75% 05/01/29</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>PATRICK INDUSTRIES INC REGD 144A P/P 4.75000000</title>
        <cusip>703343AD5</cusip>
        <identifiers>
          <isin value="US703343AD59"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34667.40000000</valUSD>
        <pctVal>0.092630841591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>
        <name>VISTAJET MALTA 6.375% 02/01/30</name>
        <lei>N/A</lei>
        <title>VISTAJET MALTA/VM HOLDS REGD 144A P/P 6.37500000</title>
        <cusip>92840JAB5</cusip>
        <identifiers>
          <isin value="US92840JAB52"/>
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        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104458.41000000</valUSD>
        <pctVal>0.279111511956</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>GRAHAM HOLDING 5.625% 12/01/33</name>
        <lei>529900BOSCEEEMAFQJ29</lei>
        <title>GRAHAM HOLDINGS CO REGD 144A P/P 5.62500000</title>
        <cusip>384637AC8</cusip>
        <identifiers>
          <isin value="US384637AC88"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55402.77000000</valUSD>
        <pctVal>0.148035480353</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ESAB CORP 6.25% 04/15/29</name>
        <lei>549300ZNV0SWBXEIWT04</lei>
        <title>ESAB CORP REGD 144A P/P 6.25000000</title>
        <cusip>29605JAA4</cusip>
        <identifiers>
          <isin value="US29605JAA43"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77158.65000000</valUSD>
        <pctVal>0.206166908552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <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>SOLSTICE ADVAN 5.625% 09/30/33</name>
        <lei>2138004GZ4H9TW6HK435</lei>
        <title>SOLSTICE ADVANCED MATERI REGD 144A P/P 5.62500000</title>
        <cusip>83443QAA1</cusip>
        <identifiers>
          <isin value="US83443QAA13"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110633.16000000</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>2033-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ALLIANCE RES O 8.625% 06/15/29</name>
        <lei>N/A</lei>
        <title>ALLIANCE RES OP/FINANCE REGD 144A P/P 8.62500000</title>
        <cusip>01879NAC9</cusip>
        <identifiers>
          <isin value="US01879NAC92"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42262.32000000</valUSD>
        <pctVal>0.112924368980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
        <name>HERC HOLDINGS INC 6% 03/15/34</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HERC HOLDINGS INC REGD 144A P/P 6.00000000</title>
        <cusip>42704LAK0</cusip>
        <identifiers>
          <isin value="US42704LAK08"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70393.96000000</valUSD>
        <pctVal>0.188091744917</pctVal>
        <payoffProfile>Long</payoffProfile>
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      <invstOrSec>
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      <invstOrSec>
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        <name>HERC HOLDINGS I 5.75% 03/15/31</name>
        <lei>549300TP80QLITMSBP82</lei>
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          <isin value="US42704LAH78"/>
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      <invstOrSec>
        <name>PITNEY BOWES I 6.875% 03/15/27</name>
        <lei>549300N2O26NW4ST6W55</lei>
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        <cusip>724479AP5</cusip>
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          <isin value="US724479AP57"/>
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        <fairValLevel>2</fairValLevel>
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        <name>K HOVNANIAN EN 8.375% 10/01/33</name>
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          <isin value="US48251UAQ13"/>
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        <name>ALLIED UNIVERS 6.875% 06/15/30</name>
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          <isin value="US019576AF49"/>
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        <fairValLevel>2</fairValLevel>
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        <name>VIBRANTZ TECH INC 9% 02/15/30</name>
        <lei>549300GYZ1T3S8OPH343</lei>
        <title>VIBRANTZ TECH INC REGD 144A P/P 9.00000000</title>
        <cusip>69357VAA3</cusip>
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        <name>ALLIED UNIVERS 4.625% 06/01/28</name>
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        <title>ALLIED UNIVERSAL HOLDCO REGD 144A P/P 4.62500000</title>
        <cusip>049362AA4</cusip>
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        <name>AXON ENTERPRISE 6.25% 03/15/33</name>
        <lei>549300QP2IEEGFE16681</lei>
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        <name>CLEVELAND-CLIFFS 7.5% 09/15/31</name>
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        <name>FMC CORP 5.65% 05/18/33</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC CORP REGD 5.65000000</title>
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        <name>RB GLOBAL HOLDI 7.75% 03/15/31</name>
        <lei>N/A</lei>
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        <name>EQUIPMENTSHARE 8.625% 05/15/32</name>
        <lei>254900PWJK48CGPKPI80</lei>
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        <name>ENPRO INC 6.125% 06/01/33</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
        <title>ENPRO INC REGD 144A P/P 6.12500000</title>
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          <isin value="US29355XAH08"/>
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        <name>CHEMOURS CO 8% 01/15/33</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>BWX TECHNOLOGI 4.125% 06/30/28</name>
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      <invstOrSec>
        <name>ASGN INCORPORA 4.625% 05/15/28</name>
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        <cusip>00191UAA0</cusip>
        <identifiers>
          <isin value="US00191UAA07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RAIN CARBON IN 12.25% 09/01/29</name>
        <lei>N/A</lei>
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        <cusip>75079LAB7</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARSENAL AIC PARENT 8% 10/01/30</name>
        <lei>N/A</lei>
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          <isin value="US04288BAB62"/>
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        <valUSD>79522.13000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEACON MOBILITY 7.25% 08/01/30</name>
        <lei>254900EBTYFG24UQEM31</lei>
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        <cusip>073644AA4</cusip>
        <identifiers>
          <isin value="US073644AA49"/>
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        <curCd>USD</curCd>
        <valUSD>62850.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STAPLES INC 10.75% 09/01/29</name>
        <lei>N/A</lei>
        <title>STAPLES INC REGD 144A P/P 10.75000000</title>
        <cusip>855030AQ5</cusip>
        <identifiers>
          <isin value="US855030AQ50"/>
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        <curCd>USD</curCd>
        <valUSD>260653.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BEAZER HOMES U 5.875% 10/15/27</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>BEAZER HOMES USA REGD SER WI 5.87500000</title>
        <cusip>07556QBR5</cusip>
        <identifiers>
          <isin value="US07556QBR56"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39879.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MERCER INTL IN 5.125% 02/01/29</name>
        <lei>549300Z5IAG39VRTY874</lei>
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        <cusip>588056BB6</cusip>
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          <isin value="US588056BB60"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SUNCOKE ENERGY 4.875% 06/30/29</name>
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        <cusip>86722AAD5</cusip>
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          <isin value="US86722AAD54"/>
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        <valUSD>50971.26000000</valUSD>
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      <invstOrSec>
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        <lei>549300LZPNZIXQGZPZ48</lei>
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        <cusip>808625AB3</cusip>
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        <name>FMC CORP 6.375% 05/18/53</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC CORP REGD 6.37500000</title>
        <cusip>302491AY1</cusip>
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          <isin value="US302491AY14"/>
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        <balance>55000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <name>WESCO DISTRIBU 6.375% 03/15/33</name>
        <lei>N/A</lei>
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        <name>ALLIED UNIVERSAL 6% 06/01/29</name>
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        <title>ALLIED UNIVERSAL REGD 144A P/P 6.00000000</title>
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          <isin value="US019576AC18"/>
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        <curCd>USD</curCd>
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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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        <name>TRI POINTE HOMES 5.7% 06/15/28</name>
        <lei>N/A</lei>
        <title>TRI POINTE HOMES INC REGD 5.70000000</title>
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          <isin value="US87265HAG48"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CRANE NXT CO 4.2% 03/15/48</name>
        <lei>549300EXNPSXEWUD3N21</lei>
        <title>CRANE NXT CO REGD 4.20000000</title>
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        <curCd>USD</curCd>
        <valUSD>42199.16000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CELANESE US HOL 7.05% 11/15/30</name>
        <lei>N/A</lei>
        <title>CELANESE US HOLDINGS LLC REGD 7.05000000</title>
        <cusip>15089QAX2</cusip>
        <identifiers>
          <isin value="US15089QAX25"/>
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        <curCd>USD</curCd>
        <valUSD>116457.11000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CONSTELLIUM SE 5.625% 06/15/28</name>
        <lei>724500KRJEMC79KAAU28</lei>
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        <cusip>21039CAA2</cusip>
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          <isin value="US21039CAA27"/>
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        <curCd>USD</curCd>
        <valUSD>30050.73000000</valUSD>
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        <invCountry>FR</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GARDA WORLD SEC 7.75% 02/15/28</name>
        <lei>N/A</lei>
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        <cusip>36485MAM1</cusip>
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          <isin value="US36485MAM10"/>
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        <curCd>USD</curCd>
        <valUSD>40991.92000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GEO GROUP INC/ 8.625% 04/15/29</name>
        <lei>54930024XOXET7NQVZ63</lei>
        <title>GEO GROUP INC/THE REGD 8.62500000</title>
        <cusip>36162JAG1</cusip>
        <identifiers>
          <isin value="US36162JAG13"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83710.22000000</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>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>QUIKRETE HOLDIN 6.75% 03/01/33</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>QUIKRETE HOLDINGS INC REGD 144A P/P 6.75000000</title>
        <cusip>74843PAB6</cusip>
        <identifiers>
          <isin value="US74843PAB67"/>
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        <balance>160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>166307.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
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      <invstOrSec>
        <name>CACI INTERNATI 6.375% 06/15/33</name>
        <lei>SYRPI2D1O9WRTS2WX210</lei>
        <title>CACI INTERNATIONAL INC REGD 144A P/P 6.37500000</title>
        <cusip>127190AE6</cusip>
        <identifiers>
          <isin value="US127190AE62"/>
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        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114266.57000000</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>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>REWORLD HOLDIN 4.875% 12/01/29</name>
        <lei>40XIFLS8XDQGGHGPGC04</lei>
        <title>REWORLD HOLDING CORP REGD 144A P/P 4.87500000</title>
        <cusip>22303XAA3</cusip>
        <identifiers>
          <isin value="US22303XAA37"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82356.57000000</valUSD>
        <pctVal>0.220055683139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ELEMENT SOLUTI 3.875% 09/01/28</name>
        <lei>549300FLGN6P5CU20J91</lei>
        <title>ELEMENT SOLUTIONS INC REGD 144A P/P 3.87500000</title>
        <cusip>28618MAA4</cusip>
        <identifiers>
          <isin value="US28618MAA45"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82887.56000000</valUSD>
        <pctVal>0.221474481508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BOMBARDIER INC 6% 02/15/28</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC REGD 144A P/P 6.00000000</title>
        <cusip>097751BX8</cusip>
        <identifiers>
          <isin value="US097751BX80"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85180.29000000</valUSD>
        <pctVal>0.227600626228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>BOMBARDIER INC 8.75% 11/15/30</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC REGD 144A P/P 8.75000000</title>
        <cusip>097751CA7</cusip>
        <identifiers>
          <isin value="US097751CA78"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85833.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>INVERSION ESCRO 6.75% 08/01/32</name>
        <lei>254900P6GHORGRVLKI95</lei>
        <title>INVERSION ESCROW ISSUER REGD 144A P/P 6.75000000</title>
        <cusip>46150DAA0</cusip>
        <identifiers>
          <isin value="US46150DAA00"/>
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        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118949.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>METHANEX CORP 5.65% 12/01/44</name>
        <lei>549300TSJHRXT9QXRD13</lei>
        <title>METHANEX CORP REGD 5.65000000</title>
        <cusip>59151KAJ7</cusip>
        <identifiers>
          <isin value="US59151KAJ79"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31540.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CLEVELAND-CLIFFS I 7% 03/15/32</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 7.00000000</title>
        <cusip>185899AP6</cusip>
        <identifiers>
          <isin value="US185899AP61"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159260.33000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ENERSYS 6.625% 01/15/32</name>
        <lei>7ZS3DE5PN30BYUJFWP05</lei>
        <title>ENERSYS REGD 144A P/P 6.62500000</title>
        <cusip>29275YAF9</cusip>
        <identifiers>
          <isin value="US29275YAF97"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36294.72000000</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>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>ATS CORP 4.125% 12/15/28</name>
        <lei>5493005KP4RP3IU7HQ41</lei>
        <title>ATS CORP REGD 144A P/P 4.12500000</title>
        <cusip>001940AC9</cusip>
        <identifiers>
          <isin value="US001940AC98"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39059.31000000</valUSD>
        <pctVal>0.104365967949</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>MITER BRAND / M 6.75% 04/01/32</name>
        <lei>N/A</lei>
        <title>MITER BRAND / MIWD BORR REGD 144A P/P 6.75000000</title>
        <cusip>60672JAA7</cusip>
        <identifiers>
          <isin value="US60672JAA79"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77076.60000000</valUSD>
        <pctVal>0.205947672020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</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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        <lei>0BGI85ALH27ZJP15DY16</lei>
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        <lei>549300LGUCWQURMWLG09</lei>
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        <name>HERTZ CORP/TH 12.625% 07/15/29</name>
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        <name>NOVA CHEMICALS COR 9% 02/15/30</name>
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      <invstOrSec>
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          <isin value="US45674GAB05"/>
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      <invstOrSec>
        <name>METHANEX US OPE 6.25% 03/15/32</name>
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          <isin value="US59151LAA44"/>
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      <invstOrSec>
        <name>WASTE PRO USA INC 7% 02/01/33</name>
        <lei>549300BY1QXU5BI3UF28</lei>
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          <isin value="US94107JAC71"/>
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        <name>XPO INC 7.125% 02/01/32</name>
        <lei>54930096DB9LCLPN7H13</lei>
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          <isin value="US983793AK61"/>
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      <invstOrSec>
        <name>NESCO HOLDINGS I 5.5% 04/15/29</name>
        <lei>N/A</lei>
        <title>NESCO HOLDINGS II INC REGD 144A P/P 5.50000000</title>
        <cusip>64083YAA9</cusip>
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          <isin value="US64083YAA91"/>
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        <name>FORTESCUE TREA 6.125% 04/15/32</name>
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        <cusip>30251GBE6</cusip>
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          <isin value="US30251GBE61"/>
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        <invCountry>AU</invCountry>
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        <name>COMPASS MINERALS I 8% 07/01/30</name>
        <lei>2549008X9G8XP7YJGC47</lei>
        <title>COMPASS MINERALS INTERNA REGD 144A P/P 8.00000000</title>
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          <isin value="US20451NAJ00"/>
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        <valUSD>74286.50000000</valUSD>
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      <invstOrSec>
        <name>CLEVELAND-CLIF 6.875% 11/01/29</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 6.87500000</title>
        <cusip>185899AQ4</cusip>
        <identifiers>
          <isin value="US185899AQ45"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103984.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MATTAMY GROUP  4.625% 03/01/30</name>
        <lei>5493008TNY7A82WCXU31</lei>
        <title>MATTAMY GROUP CORP REGD 144A P/P 4.62500000</title>
        <cusip>57701RAM4</cusip>
        <identifiers>
          <isin value="US57701RAM43"/>
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        <valUSD>65476.63000000</valUSD>
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        <invCountry>CA</invCountry>
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        <name>ABC SUPPLY CO  3.875% 11/15/29</name>
        <lei>N/A</lei>
        <title>ABC SUPPLY CO INC REGD 144A P/P 3.87500000</title>
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          <isin value="US024747AG26"/>
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        <name>M/I HOMES INC 3.95% 02/15/30</name>
        <lei>5299005M71FH9CCSFB69</lei>
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          <isin value="US55305BAV36"/>
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        <name>LBM ACQUISITION 6.25% 01/15/29</name>
        <lei>549300FAEB3VWZL4NI86</lei>
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        <cusip>05552BAA4</cusip>
        <identifiers>
          <isin value="US05552BAA44"/>
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        <curCd>USD</curCd>
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        <name>EQUIPMENTSHARE.COM 8% 03/15/33</name>
        <lei>254900PWJK48CGPKPI80</lei>
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        <name>ROLLER BEARING 4.375% 10/15/29</name>
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          <isin value="US775631AD66"/>
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        <name>BOISE CASCADE  4.875% 07/01/30</name>
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        <name>CLYDESDALE ACQU 6.75% 04/15/32</name>
        <lei>254900QKSDYFR3K5YD98</lei>
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      <invstOrSec>
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        <lei>CQ7WZ4NOFWT7FAE6Q943</lei>
        <title>FLUOR CORP REGD 4.25000000</title>
        <cusip>343412AF9</cusip>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>VISTAJET MALTA 7.875% 05/01/27</name>
        <lei>N/A</lei>
        <title>VISTAJET MALTA/VM HOLDS REGD 144A P/P 7.87500000</title>
        <cusip>92840JAD1</cusip>
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          <isin value="US92840JAD19"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55121.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>GFL ENVIRONMENT 4.75% 06/15/29</name>
        <lei>894500E7NLBY9VZRT696</lei>
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        <cusip>36168QAN4</cusip>
        <identifiers>
          <isin value="US36168QAN43"/>
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        <balance>78000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77543.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>KAISER ALUMINUM  4.5% 06/01/31</name>
        <lei>N/A</lei>
        <title>KAISER ALUMINUM CORP REGD 144A P/P 4.50000000</title>
        <cusip>483007AL4</cusip>
        <identifiers>
          <isin value="US483007AL48"/>
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        <balance>61000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58941.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CLEAN HARBORS I 5.75% 10/15/33</name>
        <lei>5493000SJVZVZJKHJF48</lei>
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        <cusip>184496AR8</cusip>
        <identifiers>
          <isin value="US184496AR85"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81782.00000000</valUSD>
        <pctVal>0.218520439578</pctVal>
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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>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MERCER INTL I 12.875% 10/01/28</name>
        <lei>549300Z5IAG39VRTY874</lei>
        <title>MERCER INTL INC REGD 144A P/P 12.87500000</title>
        <cusip>588056BC4</cusip>
        <identifiers>
          <isin value="US588056BC44"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32956.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>NUFARM AUSTRALIA/A 5% 01/27/30</name>
        <lei>N/A</lei>
        <title>NUFARM AUSTRALIA/AMERICA REGD 144A P/P 5.00000000</title>
        <cusip>67052NAB1</cusip>
        <identifiers>
          <isin value="US67052NAB10"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32285.13000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARDAGH METAL PACKA 4% 09/01/29</name>
        <lei>N/A</lei>
        <title>ARDAGH METAL PACKAGING REGD 144A P/P 4.00000000</title>
        <cusip>03969YAB4</cusip>
        <identifiers>
          <isin value="US03969YAB48"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109302.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>COMMERCIAL METALS  6% 12/15/35</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
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        <cusip>201723AV5</cusip>
        <identifiers>
          <isin value="US201723AV52"/>
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        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107328.82000000</valUSD>
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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>WATCO COS LLC/ 7.125% 08/01/32</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US941130AD86"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110134.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOVELIS CORP 3.875% 08/15/31</name>
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          <isin value="US670001AH91"/>
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        <valUSD>75096.63000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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    <explntrNotes>
      <explntrNote note="ISO country code not reported for forwards, swaps or supranationals." noteItem="C.5.a"/>
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    <signature>
      <ncom:dateSigned>2026-03-02</ncom:dateSigned>
      <ncom:nameOfApplicant>BondBloxx ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Tony Kelly</ncom:signature>
      <ncom:signerName>Tony Kelly</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
