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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>BRINK'S CO/THE 4.625% 10/15/27</name>
        <lei>XFP140TFNOQMIVFTVQ13</lei>
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        <cusip>109696AA2</cusip>
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        <name>ENERSYS 4.375% 12/15/27</name>
        <lei>7ZS3DE5PN30BYUJFWP05</lei>
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      <invstOrSec>
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        <lei>0BGI85ALH27ZJP15DY16</lei>
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        <name>GRAHAM PACKAGI 7.125% 08/15/28</name>
        <lei>N/A</lei>
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        <cusip>384701AA6</cusip>
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        <name>RB GLOBAL HOLDI 6.75% 03/15/28</name>
        <lei>N/A</lei>
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        <cusip>76774LAB3</cusip>
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        <name>AHLSTROM HLDG  4.875% 02/04/28</name>
        <lei>N/A</lei>
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        <cusip>84612JAA0</cusip>
        <identifiers>
          <isin value="US84612JAA07"/>
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        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 3.87500000</title>
        <cusip>911363AM1</cusip>
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          <isin value="US911363AM11"/>
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        <cusip>156504AL6</cusip>
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          <isin value="US156504AL63"/>
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        <name>CELANESE US HO 6.415% 07/15/27</name>
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        <name>ARDAGH PKG FIN 4.125% 08/15/26</name>
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        <name>TOPBUILD CORP 4.125% 02/15/32</name>
        <lei>5493007YSKHOL4RWII46</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENPRO INC 5.75% 10/15/26</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
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          <isin value="US29355XAG25"/>
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        <valUSD>49948.56000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASHTON WOODS U 4.625% 04/01/30</name>
        <lei>N/A</lei>
        <title>ASHTON WOODS USA/FINANCE REGD 144A P/P 4.62500000</title>
        <cusip>045086AP0</cusip>
        <identifiers>
          <isin value="US045086AP03"/>
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        <curCd>USD</curCd>
        <valUSD>87180.71000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
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      <invstOrSec>
        <name>CELANESE US HOLD 1.4% 08/05/26</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US15089QAK04"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66833.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-05</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEALED AIR/SEA 6.125% 02/01/28</name>
        <lei>N/A</lei>
        <title>SEALED AIR/SEALED AIR US REGD 144A P/P 6.12500000</title>
        <cusip>812127AA6</cusip>
        <identifiers>
          <isin value="US812127AA61"/>
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        <balance>132000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133089.53000000</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>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>CLEAN HARBORS  6.375% 02/01/31</name>
        <lei>5493000SJVZVZJKHJF48</lei>
        <title>CLEAN HARBORS INC REGD 144A P/P 6.37500000</title>
        <cusip>184496AQ0</cusip>
        <identifiers>
          <isin value="US184496AQ03"/>
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        <balance>90000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91755.90000000</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>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLEVELAND-CLIF 7.375% 05/01/33</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 7.37500000</title>
        <cusip>185899AR2</cusip>
        <identifiers>
          <isin value="US185899AR28"/>
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        <balance>155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145822.38000000</valUSD>
        <pctVal>0.268327863403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>GARDA WORLD SECURI 6% 06/01/29</name>
        <lei>N/A</lei>
        <title>GARDA WORLD SECURITY REGD 144A P/P 6.00000000</title>
        <cusip>36485MAL3</cusip>
        <identifiers>
          <isin value="US36485MAL37"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74959.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>KB HOME 4.8% 11/15/29</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB HOME REGD 4.80000000</title>
        <cusip>48666KAY5</cusip>
        <identifiers>
          <isin value="US48666KAY55"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67629.21000000</valUSD>
        <pctVal>0.124444556610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>AMERITEX HOLDC 10.25% 10/15/28</name>
        <lei>N/A</lei>
        <title>AMERITEX HOLDCO INTERMED REGD 144A P/P 10.25000000</title>
        <cusip>030727AA9</cusip>
        <identifiers>
          <isin value="US030727AA98"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87667.90000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BRUNDAGE-BONE CO 7.5% 02/01/32</name>
        <lei>N/A</lei>
        <title>BRUNDAGE-BONE CONCRETE REGD 144A P/P 7.50000000</title>
        <cusip>66981QAB2</cusip>
        <identifiers>
          <isin value="US66981QAB23"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>63494.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CLEARWATER PAPE 4.75% 08/15/28</name>
        <lei>549300HCVV19GXN4P292</lei>
        <title>CLEARWATER PAPER CORP REGD 144A P/P 4.75000000</title>
        <cusip>18538RAJ2</cusip>
        <identifiers>
          <isin value="US18538RAJ23"/>
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        <curCd>USD</curCd>
        <valUSD>37232.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED RENTALS 6.125% 03/15/34</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 144A P/P 6.12500000</title>
        <cusip>911365BR4</cusip>
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          <isin value="US911365BR47"/>
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        <name>TRANSDIGM INC 6.875% 12/15/30</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD 144A P/P 6.87500000</title>
        <cusip>893647BS5</cusip>
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          <isin value="US893647BS53"/>
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        <name>INEOS FINANCE PL 7.5% 04/15/29</name>
        <lei>N/A</lei>
        <title>INEOS FINANCE PLC REGD 144A P/P 7.50000000</title>
        <cusip>44984WAJ6</cusip>
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          <isin value="US44984WAJ62"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>LGI HOMES INC 7% 11/15/32</name>
        <lei>549300W02B4WNV8CV109</lei>
        <title>LGI HOMES INC REGD 144A P/P 7.00000000</title>
        <cusip>50187TAK2</cusip>
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          <isin value="US50187TAK25"/>
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        <curCd>USD</curCd>
        <valUSD>64681.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CROWN AMER/CAP  4.25% 09/30/26</name>
        <lei>N/A</lei>
        <title>CROWN AMER/CAP CORP V REGD SER WI 4.25000000</title>
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          <isin value="US22819KAB61"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49343.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ONESKY FLIGHT  8.875% 12/15/29</name>
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      <invstOrSec>
        <name>ALUMINA PTY LT 6.125% 03/15/30</name>
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        <cusip>02220AAA5</cusip>
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      <invstOrSec>
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        <name>SCIH SALT HOLD 4.875% 05/01/28</name>
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        <name>INGEVITY CORP 3.875% 11/01/28</name>
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        <name>AXALTA COATING  7.25% 02/15/31</name>
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        <cusip>05455JAA5</cusip>
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          <isin value="US05455JAA51"/>
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        <name>MATTHEWS INTER 8.625% 10/01/27</name>
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        <cusip>577128AC5</cusip>
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        <name>CARRIAGE PURCH 7.875% 10/15/29</name>
        <lei>N/A</lei>
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        <cusip>14445LAA5</cusip>
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        <name>EMPIRE COMMUNIT 9.75% 05/01/29</name>
        <lei>549300JM1L6KK2QFP273</lei>
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        <name>SCIL IV LLC /  5.375% 11/01/26</name>
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        <name>TAYLOR MORRISO 5.875% 06/15/27</name>
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        <name>GFL ENVIRONMEN 4.375% 08/15/29</name>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US458665AS53"/>
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          <isin value="US85858EAD58"/>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>CELANESE US HOL 6.58% 07/15/29</name>
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          <isin value="US15089QAN43"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ALBION FINANCIN 8.75% 04/15/27</name>
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        <cusip>013305AA5</cusip>
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          <isin value="US013305AA52"/>
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        <invCountry>LU</invCountry>
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      <invstOrSec>
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      <invstOrSec>
        <name>OLYMPUS WTR US  7.25% 06/15/31</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>CELANESE US HOLD 6.5% 04/15/30</name>
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        <name>CVR PARTNERS/C 6.125% 06/15/28</name>
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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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        <name>JB POINDEXTER &amp; 8.75% 12/15/31</name>
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        <name>CLEAN HARBORS  4.875% 07/15/27</name>
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      <invstOrSec>
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        <lei>2549008X9G8XP7YJGC47</lei>
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      <invstOrSec>
        <name>TRONOX INC 4.625% 03/15/29</name>
        <lei>N/A</lei>
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          <isin value="US897051AC29"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLARIV SCI HLD 4.875% 07/01/29</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WESCO DISTRIBUT 7.25% 06/15/28</name>
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          <isin value="US95081QAP90"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVIENT CORP 7.125% 08/01/30</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
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        <cusip>05368VAA4</cusip>
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          <isin value="US05368VAA44"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>METHANEX CORP 5.125% 10/15/27</name>
        <lei>549300TSJHRXT9QXRD13</lei>
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          <isin value="US59151KAM09"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OI EUROPEAN GRO 4.75% 02/15/30</name>
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          <isin value="US67777LAD55"/>
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        <valUSD>60247.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEALED AIR CORP 5% 04/15/29</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>SEALED AIR CORP REGD 144A P/P 5.00000000</title>
        <cusip>81211KBA7</cusip>
        <identifiers>
          <isin value="US81211KBA79"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>68153.02000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED RENTALS 3.875% 11/15/27</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 3.87500000</title>
        <cusip>911365BM5</cusip>
        <identifiers>
          <isin value="US911365BM59"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144987.44000000</valUSD>
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        <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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        <name>SMYRNA READY M 8.875% 11/15/31</name>
        <lei>549300S7RFWHQFOIOY93</lei>
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        <cusip>83283WAE3</cusip>
        <identifiers>
          <isin value="US83283WAE30"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189975.76000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SPIRIT AEROSYST 3.85% 06/15/26</name>
        <lei>N/A</lei>
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        <cusip>85205TAG5</cusip>
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          <isin value="US85205TAG58"/>
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        <curCd>USD</curCd>
        <valUSD>49184.07000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GARDA WORLD SEC 8.25% 08/01/32</name>
        <lei>N/A</lei>
        <title>GARDA WORLD SECURITY REGD 144A P/P 8.25000000</title>
        <cusip>36485MAN9</cusip>
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          <isin value="US36485MAN92"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>88541.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NOVELIS CORP 4.75% 01/30/30</name>
        <lei>N/A</lei>
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        <cusip>670001AE6</cusip>
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          <isin value="US670001AE60"/>
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        <curCd>USD</curCd>
        <valUSD>249482.86000000</valUSD>
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        <name>MINERAL RESOUR 8.125% 05/01/27</name>
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        <cusip>603051AA1</cusip>
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          <isin value="US603051AA15"/>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>BRINK'S CO/THE 6.75% 06/15/32</name>
        <lei>XFP140TFNOQMIVFTVQ13</lei>
        <title>BRINK'S CO/THE REGD 144A P/P 6.75000000</title>
        <cusip>109696AD6</cusip>
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          <isin value="US109696AD60"/>
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        <balance>65000.00000000</balance>
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        <valUSD>66604.27000000</valUSD>
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        <name>GEO GROUP INC/ 10.25% 04/15/31</name>
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        <title>GEO GROUP INC/THE REGD SER WI 10.25000000</title>
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        <name>KORN/FERRY INT 4.625% 12/15/27</name>
        <lei>549300FOD20OM0GT5G40</lei>
        <title>KORN/FERRY INTERNATIONAL REGD 144A P/P 4.62500000</title>
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          <isin value="US50067PAA75"/>
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        <valUSD>67795.75000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300U5ODNGEYWKSW73</lei>
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          <isin value="US156431AN85"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IRIS HOLDING INC 10% 12/15/28</name>
        <lei>54930013SPZ2NB3I3V40</lei>
        <title>IRIS HOLDING INC REGD 144A P/P 10.00000000</title>
        <cusip>462914AA0</cusip>
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          <isin value="US462914AA05"/>
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        <valUSD>53109.11000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRINK'S CO/THE 6.5% 06/15/29</name>
        <lei>XFP140TFNOQMIVFTVQ13</lei>
        <title>BRINK'S CO/THE REGD 144A P/P 6.50000000</title>
        <cusip>109696AC8</cusip>
        <identifiers>
          <isin value="US109696AC87"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71393.14000000</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>
      <invstOrSec>
        <name>JETBLUE AIRWAY 9.875% 09/20/31</name>
        <lei>N/A</lei>
        <title>JETBLUE AIRWAYS/LOYALTY REGD 144A P/P 9.87500000</title>
        <cusip>476920AA1</cusip>
        <identifiers>
          <isin value="US476920AA15"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>313448.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-20</maturityDt>
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      <invstOrSec>
        <name>GRAHAM HOLDINGS 5.75% 06/01/26</name>
        <lei>529900BOSCEEEMAFQJ29</lei>
        <title>GRAHAM HOLDINGS CO REGD 144A P/P 5.75000000</title>
        <cusip>384637AA2</cusip>
        <identifiers>
          <isin value="US384637AA23"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70235.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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      <invstOrSec>
        <name>RESIDEO FUNDING  6.5% 07/15/32</name>
        <lei>N/A</lei>
        <title>RESIDEO FUNDING INC REGD 144A P/P 6.50000000</title>
        <cusip>76119LAD3</cusip>
        <identifiers>
          <isin value="US76119LAD38"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79459.02000000</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>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GRAPHIC PACKAGI 4.75% 07/15/27</name>
        <lei>N/A</lei>
        <title>GRAPHIC PACKAGING INTERN REGD 144A P/P 4.75000000</title>
        <cusip>38869AAA5</cusip>
        <identifiers>
          <isin value="US38869AAA51"/>
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        <balance>47000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46266.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BCPE EMPIRE HO 7.625% 05/01/27</name>
        <lei>549300O2G0VI2955B626</lei>
        <title>BCPE EMPIRE HOLDINGS INC REGD 144A P/P 7.62500000</title>
        <cusip>05552VAA0</cusip>
        <identifiers>
          <isin value="US05552VAA08"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165000.00000000</valUSD>
        <pctVal>0.303616615375</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHEMOURS CO 5.75% 11/15/28</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>CHEMOURS CO REGD 144A P/P 5.75000000</title>
        <cusip>163851AF5</cusip>
        <identifiers>
          <isin value="US163851AF58"/>
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        <balance>130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117935.40000000</valUSD>
        <pctVal>0.217013012005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>ATI INC 4.875% 10/01/29</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI INC REGD 4.87500000</title>
        <cusip>01741RAL6</cusip>
        <identifiers>
          <isin value="US01741RAL69"/>
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        <balance>72000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68860.14000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>TEREX CORP 6.25% 10/15/32</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>TEREX CORP REGD 144A P/P 6.25000000</title>
        <cusip>880779BB8</cusip>
        <identifiers>
          <isin value="US880779BB83"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114974.78000000</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>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>VERITIV OPERATI 10.5% 11/30/30</name>
        <lei>N/A</lei>
        <title>VERITIV OPERATING CO REGD 144A P/P 10.50000000</title>
        <cusip>92339LAA0</cusip>
        <identifiers>
          <isin value="US92339LAA08"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>183014.83000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLOBAL INFRAST 5.625% 06/01/29</name>
        <lei>2549003BGLQITAJ6ZT28</lei>
        <title>GLOBAL INFRASTRUCTURE SO REGD 144A P/P 5.62500000</title>
        <cusip>37960XAA5</cusip>
        <identifiers>
          <isin value="US37960XAA54"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66646.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>WILLIAMS SCOTS 4.625% 08/15/28</name>
        <lei>N/A</lei>
        <title>WILLIAMS SCOTSMAN INC REGD 144A P/P 4.62500000</title>
        <cusip>96950GAE2</cusip>
        <identifiers>
          <isin value="US96950GAE26"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77015.46000000</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>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>BRAND INDUSTR 10.375% 08/01/30</name>
        <lei>549300B658W2BPDQMW42</lei>
        <title>BRAND INDUSTRIAL SERVICE REGD 144A P/P 10.37500000</title>
        <cusip>104931AA8</cusip>
        <identifiers>
          <isin value="US104931AA85"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233038.08000000</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>2030-08-01</maturityDt>
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          <annualizedRt>10.37500000</annualizedRt>
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      <invstOrSec>
        <name>CAMELOT RETURN  8.75% 08/01/28</name>
        <lei>N/A</lei>
        <title>CAMELOT RETURN MERGER SU REGD 144A P/P 8.75000000</title>
        <cusip>13323NAA0</cusip>
        <identifiers>
          <isin value="US13323NAA00"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130250.51000000</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>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLEVELAND-CLIF 4.875% 03/01/31</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 4.87500000</title>
        <cusip>185899AL5</cusip>
        <identifiers>
          <isin value="US185899AL57"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47241.85000000</valUSD>
        <pctVal>0.086929761218</pctVal>
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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>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLEGIANT TRAVE 7.25% 08/15/27</name>
        <lei>549300JM9OZXOHWL2K18</lei>
        <title>ALLEGIANT TRAVEL CO REGD 144A P/P 7.25000000</title>
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        <name>PRIME SECSRVC B 6.25% 01/15/28</name>
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          <isin value="US74166MAE66"/>
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        <fairValLevel>2</fairValLevel>
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        <name>S&amp;S HOLDINGS L 8.375% 10/01/31</name>
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          <isin value="US78525CAA36"/>
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      <invstOrSec>
        <name>CLARIV SCI HLD 3.875% 07/01/28</name>
        <lei>N/A</lei>
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          <isin value="US18064PAC32"/>
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        <name>WERNER FINCO LP 11.5% 06/15/28</name>
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          <isin value="US95076PAC77"/>
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        <name>WW INTERNATIONAL 4.5% 04/15/29</name>
        <lei>SGT8R1MU6ESIC7UJC518</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHART INDUSTRIES 7.5% 01/01/30</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
        <title>CHART INDUSTRIES INC REGD 144A P/P 7.50000000</title>
        <cusip>16115QAF7</cusip>
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          <isin value="US16115QAF72"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMSTED INDUSTR 6.375% 03/15/33</name>
        <lei>N2VLGYMEEBIU3PFSUY86</lei>
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        <cusip>032177AK3</cusip>
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        <lei>2549009FJIBLW40CU216</lei>
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        <name>TRI POINTE HOME 5.25% 06/01/27</name>
        <lei>N/A</lei>
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        <name>VISTAJET MALTA/V 9.5% 06/01/28</name>
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        <name>ATI INC 7.25% 08/15/30</name>
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        <name>LGI HOMES INC 8.75% 12/15/28</name>
        <lei>549300W02B4WNV8CV109</lei>
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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>
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      <invstOrSec>
        <name>FMG RESOURCES AU 4.5% 09/15/27</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <lei>529900E4L9R04SB8HB11</lei>
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      <invstOrSec>
        <name>NEW ENTERPRISE  5.25% 07/15/28</name>
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      <invstOrSec>
        <name>NOVELIS CORP 6.875% 01/30/30</name>
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        <name>CELANESE US HOL 6.95% 11/15/33</name>
        <lei>N/A</lei>
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          <isin value="US15089QAY08"/>
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      <invstOrSec>
        <name>AIR CANADA 3.875% 08/15/26</name>
        <lei>4B4HI3CGXMBDC0G6BM51</lei>
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        <cusip>008911BK4</cusip>
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          <isin value="US008911BK48"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OWENS-BROCKWAY 6.625% 05/13/27</name>
        <lei>N/A</lei>
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        <cusip>69073TAT0</cusip>
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          <isin value="US69073TAT07"/>
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        <name>TRANSDIGM INC 4.625% 01/15/29</name>
        <lei>N/A</lei>
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          <isin value="US893647BP15"/>
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        <balance>199000.00000000</balance>
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        <valUSD>191637.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VALLOUREC SACA 7.5% 04/15/32</name>
        <lei>969500P2Q1B47H4MCJ34</lei>
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        <cusip>92023RAA8</cusip>
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        <balance>140000.00000000</balance>
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        <valUSD>145121.30000000</valUSD>
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        <invCountry>FR</invCountry>
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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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        <curCd>USD</curCd>
        <valUSD>60858.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>WESCO DISTRIBU 6.375% 03/15/29</name>
        <lei>N/A</lei>
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        <cusip>95081QAQ7</cusip>
        <identifiers>
          <isin value="US95081QAQ73"/>
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        <valUSD>152169.30000000</valUSD>
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        <name>SCIH SALT HOLD 6.625% 05/01/29</name>
        <lei>N/A</lei>
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        <cusip>78433BAB4</cusip>
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          <isin value="US78433BAB45"/>
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        <valUSD>116693.23000000</valUSD>
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        <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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        <valUSD>58331.38000000</valUSD>
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        <name>ALGOMA STEEL I 9.125% 04/15/29</name>
        <lei>5493006RXIB5GVHWJS53</lei>
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        <cusip>01566MAD7</cusip>
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          <isin value="US01566MAD74"/>
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        <name>CLEVELAND-CLIF 4.625% 03/01/29</name>
        <lei>549300TM2WLI2BJMDD86</lei>
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        <cusip>185899AK7</cusip>
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        <name>ELDORADO GOLD C 6.25% 09/01/29</name>
        <lei>5493004PWQ01YDD1IH62</lei>
        <title>ELDORADO GOLD CORP REGD 144A P/P 6.25000000</title>
        <cusip>284902AF0</cusip>
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          <isin value="US284902AF02"/>
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        <name>DORNOCH DEBT M 6.625% 10/15/29</name>
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          <isin value="US25830JAA97"/>
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        <name>CASCADES INC/U 5.375% 01/15/28</name>
        <lei>N/A</lei>
        <title>CASCADES INC/USA INC REGD 144A P/P 5.37500000</title>
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          <isin value="US14739LAB80"/>
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        <valUSD>63424.82000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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      <invstOrSec>
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      <invstOrSec>
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        <name>KBR INC 4.75% 09/30/28</name>
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        <name>AXALTA COAT/DUT 4.75% 06/15/27</name>
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      <invstOrSec>
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        <name>ALTA EQUIPMENT GRO 9% 06/01/29</name>
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        <name>MADISON IAQ LL 4.125% 06/30/28</name>
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        <name>OLYMPUS WTR US  4.25% 10/01/28</name>
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        <name>H.B. FULLER CO 4% 02/15/27</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
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        <name>STANDARD INDUS 3.375% 01/15/31</name>
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        <name>DANAOS CORP 8.5% 03/01/28</name>
        <lei>734IM3DNDNT36T7YTD24</lei>
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        <name>TUTOR PERINI  11.875% 04/30/29</name>
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        <name>ILLUMINATE BUYER/H 9% 07/01/28</name>
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        <name>STANDARD INDUSTRI  5% 02/15/27</name>
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          <isin value="US38869AAD90"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ATI INC 5.875% 12/01/27</name>
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          <isin value="US01741RAH57"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SNF GROUP SACA 3.125% 03/15/27</name>
        <lei>969500F7036FEDYPRV54</lei>
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          <isin value="US7846ELAD98"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TKC HOLDINGS I 6.875% 05/15/28</name>
        <lei>N/A</lei>
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          <isin value="US87256YAC75"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOAT HOLDCO LLC 6.75% 02/01/32</name>
        <lei>N/A</lei>
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          <isin value="US38021MAA45"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>M/I HOMES INC 4.95% 02/01/28</name>
        <lei>5299005M71FH9CCSFB69</lei>
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        <cusip>55305BAS0</cusip>
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          <isin value="US55305BAS07"/>
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        <balance>65000.00000000</balance>
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        <valUSD>63640.88000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CELANESE US HO 6.629% 07/15/32</name>
        <lei>N/A</lei>
        <title>CELANESE US HOLDINGS LLC REGD 6.62900000</title>
        <cusip>15089QAP9</cusip>
        <identifiers>
          <isin value="US15089QAP90"/>
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        <balance>180000.00000000</balance>
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        <valUSD>177085.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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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>
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          <isin value="US66977WAS89"/>
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        <balance>91000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86091.46000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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      <invstOrSec>
        <name>ARDAGH METAL PACKA 6% 06/15/27</name>
        <lei>N/A</lei>
        <title>ARDAGH METAL PACKAGING REGD 144A P/P 6.00000000</title>
        <cusip>03969YAC2</cusip>
        <identifiers>
          <isin value="US03969YAC21"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119692.74000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOVELIS CORP 3.25% 11/15/26</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 3.25000000</title>
        <cusip>670001AG1</cusip>
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          <isin value="US670001AG19"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MAUSER PACKAGI 7.875% 04/15/27</name>
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        <cusip>57763RAD9</cusip>
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          <isin value="US57763RAD98"/>
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        <name>OSCAR ACQUISITIO 9.5% 04/15/30</name>
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        <name>TRIUMPH GROUP INC 9% 03/15/28</name>
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        <name>AMERICAN AIRLIN 5.75% 04/20/29</name>
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          <isin value="US00253XAB73"/>
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        <name>OWENS-BROCKWAY 7.25% 05/15/31</name>
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        <name>WHITE CAP BUYE 6.875% 10/15/28</name>
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        <name>BALL CORP 6.875% 03/15/28</name>
        <lei>0BGI85ALH27ZJP15DY16</lei>
        <title>BALL CORP REGD 6.87500000</title>
        <cusip>058498AY2</cusip>
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          <isin value="US058498AY23"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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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>
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        <identifiers>
          <isin value="US97246JAA60"/>
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        <valUSD>77051.51000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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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>
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          <isin value="US475795AD24"/>
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        <valUSD>78617.15000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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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>
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          <isin value="US82666QAA31"/>
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        <valUSD>24211.71000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WILLIAMS SCOTS 6.625% 04/15/30</name>
        <lei>N/A</lei>
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        <cusip>96949VAN3</cusip>
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          <isin value="US96949VAN38"/>
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        <curCd>USD</curCd>
        <valUSD>91723.97000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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      <invstOrSec>
        <name>INSTALLED BUILD 5.75% 02/01/28</name>
        <lei>549300I95Y9P9YM5FI86</lei>
        <title>INSTALLED BUILDING PRODU REGD 144A P/P 5.75000000</title>
        <cusip>45780RAA9</cusip>
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          <isin value="US45780RAA95"/>
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        <balance>47000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46237.79000000</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>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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>
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          <isin value="US96949VAL71"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77839.22000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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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>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40670.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.75000000</annualizedRt>
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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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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35169.20000000</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>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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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>
        <cusip>04433LAA0</cusip>
        <identifiers>
          <isin value="US04433LAA08"/>
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        <balance>77000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66874.50000000</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>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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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>
        <identifiers>
          <isin value="US81211KAK60"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77912.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-15</maturityDt>
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          <annualizedRt>6.87500000</annualizedRt>
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        <name>CLYDESDALE ACQ 6.625% 04/15/29</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>CLYDESDALE ACQUISITION REGD 144A P/P 6.62500000</title>
        <cusip>18972EAA3</cusip>
        <identifiers>
          <isin value="US18972EAA38"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85721.57000000</valUSD>
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        <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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        <name>H.B. FULLER CO 4.25% 10/15/28</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
        <title>H.B. FULLER CO REGD 4.25000000</title>
        <cusip>40410KAA3</cusip>
        <identifiers>
          <isin value="US40410KAA34"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56657.69000000</valUSD>
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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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        <valUSD>81300.40000000</valUSD>
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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>80000.00000000</balance>
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        <valUSD>75224.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GRAFTECH GLOBA 9.875% 12/23/29</name>
        <lei>N/A</lei>
        <title>GRAFTECH GLOBAL ENTERPRI REGD 144A P/P 9.87500000</title>
        <cusip>38431AAB2</cusip>
        <identifiers>
          <isin value="US38431AAB26"/>
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        <valUSD>56625.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.87500000</annualizedRt>
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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>84000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81670.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <isin value="US893647BQ97"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALCOA NEDERLAN 7.125% 03/15/31</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US013822AH42"/>
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        <valUSD>139231.58000000</valUSD>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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>
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          <isin value="US66977WAV19"/>
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        <curCd>USD</curCd>
        <valUSD>67243.80000000</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>
        <identifiers>
          <isin value="US21871NAC56"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94954.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <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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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96373.32000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMSTED INDUSTR 4.625% 05/15/30</name>
        <lei>N2VLGYMEEBIU3PFSUY86</lei>
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        <cusip>032177AJ6</cusip>
        <identifiers>
          <isin value="US032177AJ66"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56770.37000000</valUSD>
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        <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>UNITED RENTALS  3.75% 01/15/32</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 3.75000000</title>
        <cusip>911365BP8</cusip>
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          <isin value="US911365BP80"/>
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        <balance>104000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>92837.83000000</valUSD>
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        <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>AXALTA COATING 3.375% 02/15/29</name>
        <lei>N/A</lei>
        <title>AXALTA COATING SYSTEMS REGD 144A P/P 3.37500000</title>
        <cusip>05453GAC9</cusip>
        <identifiers>
          <isin value="US05453GAC96"/>
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        <balance>117000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108492.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>MIWD HLDCO II/MI 5.5% 02/01/30</name>
        <lei>N/A</lei>
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        <cusip>55337PAA0</cusip>
        <identifiers>
          <isin value="US55337PAA03"/>
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        <balance>118000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106633.14000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>UNITED RENTALS NOR 4% 07/15/30</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 4.00000000</title>
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          <isin value="US911365BN33"/>
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        <curCd>USD</curCd>
        <valUSD>128704.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>SHEA HOMES LP/F 4.75% 02/15/28</name>
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        <cusip>82088KAK4</cusip>
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          <isin value="US82088KAK43"/>
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        <curCd>USD</curCd>
        <valUSD>64126.26000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>OLIN CORP 6.625% 04/01/33</name>
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          <isin value="US680665AN65"/>
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        <name>NOVA CHEMICALS C 8.5% 11/15/28</name>
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          <isin value="US66977WAT62"/>
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        <cusip>156504AM4</cusip>
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          <isin value="US156504AM47"/>
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        <name>UNITED RENTALS N 5.5% 05/15/27</name>
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        <title>UNITED RENTALS NORTH AM REGD 5.50000000</title>
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          <isin value="US911365BF09"/>
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        <name>ARAMARK SERVICES I 5% 02/01/28</name>
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          <isin value="US038522AQ17"/>
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        <valUSD>193056.96000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ATLAS LUXCO 4  4.625% 06/01/28</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SOTHEBY'S/BIDF 5.875% 06/01/29</name>
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      <invstOrSec>
        <name>BOMBARDIER INC 7.45% 05/01/34</name>
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        <cusip>097751AL5</cusip>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>ALCOA NEDERLAN 4.125% 03/31/29</name>
        <lei>N/A</lei>
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        <cusip>013822AG6</cusip>
        <identifiers>
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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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          <isin value="US097751BZ39"/>
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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>
        <title>TASEKO MINES LTD REGD 144A P/P 8.25000000</title>
        <cusip>876511AG1</cusip>
        <identifiers>
          <isin value="US876511AG15"/>
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        <balance>85000.00000000</balance>
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        <valUSD>85931.26000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>CROWN CORK &amp; S 7.375% 12/15/26</name>
        <lei>N/A</lei>
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        <cusip>228255AH8</cusip>
        <identifiers>
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        <valUSD>87491.78000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</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>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85622.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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        <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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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>MATTAMY GROUP C 5.25% 12/15/27</name>
        <lei>5493008TNY7A82WCXU31</lei>
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        <cusip>57701RAJ1</cusip>
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          <isin value="US57701RAJ14"/>
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        <invCountry>CA</invCountry>
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        <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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        <name>TRANSDIGM INC 5.5% 11/15/27</name>
        <lei>N/A</lei>
        <title>TRANSDIGM INC REGD SER WI 5.50000000</title>
        <cusip>893647BL0</cusip>
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          <isin value="US893647BL01"/>
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        <name>XPO INC 7.125% 06/01/31</name>
        <lei>54930096DB9LCLPN7H13</lei>
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        <cusip>98379KAB8</cusip>
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        <name>TRIMAS CORP 4.125% 04/15/29</name>
        <lei>75G1WUQ8QK4P5MZOYD78</lei>
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        <name>MINERAL RESOURC 9.25% 10/01/28</name>
        <lei>5299007V1ACKFFX2P066</lei>
        <title>MINERAL RESOURCES LTD REGD 144A P/P 9.25000000</title>
        <cusip>603051AE3</cusip>
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          <isin value="US603051AE37"/>
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        <invCountry>AU</invCountry>
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        <name>ADTALEM GLOBAL E 5.5% 03/01/28</name>
        <lei>549300Z467EZLMODV621</lei>
        <title>ADTALEM GLOBAL EDUCATION REGD 144A P/P 5.50000000</title>
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          <isin value="US00737WAA71"/>
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        <balance>70000.00000000</balance>
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        <valUSD>69258.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CHEMOURS CO 4.625% 11/15/29</name>
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        <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>KAISER ALUMINU 4.625% 03/01/28</name>
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        <name>ALLIED UNIVERS 7.875% 02/15/31</name>
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        <name>MANITOWOC COMPA 9.25% 10/01/31</name>
        <lei>2RTSLGQ89VMY18RHX631</lei>
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      <invstOrSec>
        <name>H&amp;E EQUIPMENT  3.875% 12/15/28</name>
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      <invstOrSec>
        <name>SHEA HOMES LP/F 4.75% 04/01/29</name>
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          <isin value="US82088KAJ79"/>
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        <name>ASHTON WOODS U 4.625% 08/01/29</name>
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        <name>JW ALUMINUM CO 10.25% 04/01/30</name>
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          <isin value="US46648XAB47"/>
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        <cusip>36485MAK5</cusip>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GARDA WORLD SE 8.375% 11/15/32</name>
        <lei>N/A</lei>
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        <cusip>36485MAP4</cusip>
        <identifiers>
          <isin value="US36485MAP41"/>
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        <valUSD>162922.45000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>KB HOME 4% 06/15/31</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB HOME REGD 4.00000000</title>
        <cusip>48666KAZ2</cusip>
        <identifiers>
          <isin value="US48666KAZ21"/>
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        <balance>58000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52323.88000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>OLIN CORP 5.625% 08/01/29</name>
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        <name>VT TOPCO INC 8.5% 08/15/30</name>
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        <name>NOVA CHEMICALS  5.25% 06/01/27</name>
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        <name>INFRABUILD AUST 14.5% 11/15/28</name>
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          <maturityDt>2028-11-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AVIENT CORP 6.25% 11/01/31</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
        <title>AVIENT CORP REGD 144A P/P 6.25000000</title>
        <cusip>05368VAB2</cusip>
        <identifiers>
          <isin value="US05368VAB27"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108915.94000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>INEOS FINANCE P 6.75% 05/15/28</name>
        <lei>N/A</lei>
        <title>INEOS FINANCE PLC REGD 144A P/P 6.75000000</title>
        <cusip>44984WAH0</cusip>
        <identifiers>
          <isin value="US44984WAH07"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>63523.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CORNERSTONE BU 6.125% 01/15/29</name>
        <lei>549300IW41QEWQ6T0H29</lei>
        <title>CORNERSTONE BUILDING REGD 144A P/P 6.12500000</title>
        <cusip>21925DAA7</cusip>
        <identifiers>
          <isin value="US21925DAA72"/>
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        <balance>67000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45016.82000000</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>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>METHANEX CORP 5.25% 12/15/29</name>
        <lei>549300TSJHRXT9QXRD13</lei>
        <title>METHANEX CORP REGD 5.25000000</title>
        <cusip>59151KAL2</cusip>
        <identifiers>
          <isin value="US59151KAL26"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109357.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPIRIT AEROSYSTE 4.6% 06/15/28</name>
        <lei>N/A</lei>
        <title>SPIRIT AEROSYSTEMS INC REGD 4.60000000</title>
        <cusip>85205TAK6</cusip>
        <identifiers>
          <isin value="US85205TAK60"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120973.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TKC HOLDINGS IN 10.5% 05/15/29</name>
        <lei>N/A</lei>
        <title>TKC HOLDINGS INC REGD 144A P/P 10.50000000</title>
        <cusip>87256YAA1</cusip>
        <identifiers>
          <isin value="US87256YAA10"/>
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        <balance>114000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114515.96000000</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>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CP ATLAS BUYER INC 7% 12/01/28</name>
        <lei>2549006ZZ07G0NDDCR36</lei>
        <title>CP ATLAS BUYER INC REGD 144A P/P 7.00000000</title>
        <cusip>12597YAA7</cusip>
        <identifiers>
          <isin value="US12597YAA73"/>
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        <balance>78000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64547.98000000</valUSD>
        <pctVal>0.118774783132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RESIDEO FUNDING IN 4% 09/01/29</name>
        <lei>N/A</lei>
        <title>RESIDEO FUNDING INC REGD 144A P/P 4.00000000</title>
        <cusip>76119LAB7</cusip>
        <identifiers>
          <isin value="US76119LAB71"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69111.38000000</valUSD>
        <pctVal>0.127171898663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ADVANCED DRAINAGE  5% 09/30/27</name>
        <lei>6QQTOZ5MF5DHM7K92I60</lei>
        <title>ADVANCED DRAINAGE SYSTEM REGD 144A P/P 5.00000000</title>
        <cusip>00790RAA2</cusip>
        <identifiers>
          <isin value="US00790RAA23"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84135.52000000</valUSD>
        <pctVal>0.154817829183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>EMRLD BOR / EM 6.625% 12/15/30</name>
        <lei>N/A</lei>
        <title>EMRLD BOR / EMRLD CO-ISS REGD 144A P/P 6.62500000</title>
        <cusip>29103CAA6</cusip>
        <identifiers>
          <isin value="US29103CAA62"/>
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        <balance>465000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472141.94000000</valUSD>
        <pctVal>0.868788713937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES  6.875% 03/01/29</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
        <title>UNITED STATES STEEL CORP REGD 6.87500000</title>
        <cusip>912909AU2</cusip>
        <identifiers>
          <isin value="US912909AU28"/>
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        <balance>76000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76340.86000000</valUSD>
        <pctVal>0.140474869867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>OWENS-BROCKWAY 7.375% 06/01/32</name>
        <lei>N/A</lei>
        <title>OWENS-BROCKWAY REGD 144A P/P 7.37500000</title>
        <cusip>69073TAV5</cusip>
        <identifiers>
          <isin value="US69073TAV52"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43967.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>INNOPHOS HOLDIN 11.5% 06/15/29</name>
        <lei>N/A</lei>
        <title>INNOPHOS HOLDINGS INC REGD 144A P/P 11.50000000</title>
        <cusip>45774NAD0</cusip>
        <identifiers>
          <isin value="US45774NAD03"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75937.50000000</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>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
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      <invstOrSec>
        <name>BLUELINX HOLDING 6% 11/15/29</name>
        <lei>549300YSX7GU28F5I540</lei>
        <title>BLUELINX HOLDING REGD 144A P/P 6.00000000</title>
        <cusip>09624HAA7</cusip>
        <identifiers>
          <isin value="US09624HAA77"/>
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        <balance>42000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39984.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>MATIV HOLDINGS INC 8% 10/01/29</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>MATIV HOLDINGS INC REGD 144A P/P 8.00000000</title>
        <cusip>808541AC0</cusip>
        <identifiers>
          <isin value="US808541AC08"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45789.80000000</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>2029-10-01</maturityDt>
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          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>HERC HOLDINGS IN 5.5% 07/15/27</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HERC HOLDINGS INC REGD 144A P/P 5.50000000</title>
        <cusip>42704LAA2</cusip>
        <identifiers>
          <isin value="US42704LAA26"/>
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        <balance>219000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>216752.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED RENTALS  5.25% 01/15/30</name>
        <lei>N/A</lei>
        <title>UNITED RENTALS NORTH AM REGD 5.25000000</title>
        <cusip>911365BL7</cusip>
        <identifiers>
          <isin value="US911365BL76"/>
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        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123765.34000000</valUSD>
        <pctVal>0.227740688676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES S 6.65% 06/01/37</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VALVOLINE INC 3.625% 06/15/31</name>
        <lei>549300CMHPBEY6VPOT75</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TK ELEVATOR HO 7.625% 07/15/28</name>
        <lei>N/A</lei>
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        <cusip>92537VAA8</cusip>
        <identifiers>
          <isin value="US92537VAA89"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>HUSKY INJECTION /  9% 02/15/29</name>
        <lei>N/A</lei>
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          <isin value="US44805RAA32"/>
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      <invstOrSec>
        <name>LANDSEA HOMES  8.875% 04/01/29</name>
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      <invstOrSec>
        <name>TRANSDIGM INC 6.75% 08/15/28</name>
        <lei>N/A</lei>
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          <isin value="US893647BR70"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <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>
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          <isin value="US12008RAR84"/>
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        <balance>111000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>111744.26000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WR GRACE HOLDI 7.375% 03/01/31</name>
        <lei>549300WNOVFRGYOAEB12</lei>
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        <cusip>92943GAE1</cusip>
        <identifiers>
          <isin value="US92943GAE17"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50328.15000000</valUSD>
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        <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>CLEVELAND-CLIF 5.875% 06/01/27</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD SER WI 5.87500000</title>
        <cusip>185899AH4</cusip>
        <identifiers>
          <isin value="US185899AH46"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103691.61000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EFESTO BIDCO SPA 7.5% 02/15/32</name>
        <lei>N/A</lei>
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        <cusip>28201XAB1</cusip>
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          <isin value="US28201XAB10"/>
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        <valUSD>134116.43000000</valUSD>
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        <invCountry>IT</invCountry>
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      <invstOrSec>
        <name>BOMBARDIER INC 7% 06/01/32</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
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        <cusip>097751CC3</cusip>
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          <isin value="US097751CC35"/>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>SCIENCE APPLIC 4.875% 04/01/28</name>
        <lei>549300LZPNZIXQGZPZ48</lei>
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        <cusip>808625AA5</cusip>
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          <isin value="US808625AA58"/>
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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>
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          <isin value="US827048AW93"/>
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      <invstOrSec>
        <name>GFL ENVIRONMENTAL  4% 08/01/28</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL ENVIRONMENTAL INC REGD 144A P/P 4.00000000</title>
        <cusip>36168QAL8</cusip>
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          <isin value="US36168QAL86"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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>
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          <isin value="US703343AD59"/>
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        <curCd>USD</curCd>
        <valUSD>47012.78000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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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>
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          <isin value="US92840JAB52"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151297.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ASHTON WOODS U 6.625% 01/15/28</name>
        <lei>N/A</lei>
        <title>ASHTON WOODS USA/FINANCE REGD 144A P/P 6.62500000</title>
        <cusip>045086AK1</cusip>
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          <isin value="US045086AK16"/>
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        <balance>50000.00000000</balance>
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        <name>FOUNDATION BUILDIN 6% 03/01/29</name>
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        <name>RAIN CARBON IN 12.25% 09/01/29</name>
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        <name>ARSENAL AIC PARENT 8% 10/01/30</name>
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        <name>WESCO DISTRIBU 6.375% 03/15/33</name>
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        <lei>N/A</lei>
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          <isin value="US721283AB55"/>
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        <lei>DX6I6ZD3X5WNNCDJKP85</lei>
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        <name>ALLIED UNIVERSAL 6% 06/01/29</name>
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        <name>STANDARD BUILDIN 6.5% 08/15/32</name>
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          <isin value="US024747AF43"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TRIDENT TPI HO 12.75% 12/31/28</name>
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        <name>TK ELEVATOR US  5.25% 07/15/27</name>
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        <cusip>92537RAA7</cusip>
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          <isin value="US92537RAA77"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MINERAL RESOURCES  8% 11/01/27</name>
        <lei>5299007V1ACKFFX2P066</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TAYLOR MORRISO 5.125% 08/01/30</name>
        <lei>N/A</lei>
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        <cusip>87724RAJ1</cusip>
        <identifiers>
          <isin value="US87724RAJ14"/>
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        <balance>83000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80495.35000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GRIFFON CORPORA 5.75% 03/01/28</name>
        <lei>5493000C2SGNC7ZN3242</lei>
        <title>GRIFFON CORPORATION REGD 5.75000000</title>
        <cusip>398433AP7</cusip>
        <identifiers>
          <isin value="US398433AP71"/>
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        <balance>168000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>165956.46000000</valUSD>
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        <name>BEACON ROOFING 4.125% 05/15/29</name>
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        <cusip>073685AH2</cusip>
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        <name>WINDSOR HOLDINGS 8.5% 06/15/30</name>
        <lei>254900IXUJZ9H146T437</lei>
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        <cusip>97360AAA5</cusip>
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        <name>BROOKFIELD RESID P 5% 06/15/29</name>
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        <invCountry>CA</invCountry>
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        <name>OLYMPUS WTR US 7.125% 10/01/27</name>
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        <name>MINERAL RESOURCE 8.5% 05/01/30</name>
        <lei>5299007V1ACKFFX2P066</lei>
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        <name>OCI NV 6.7% 03/16/33</name>
        <lei>549300NCMRGIBJYUOE57</lei>
        <title>OCI NV REGD 144A P/P 6.70000000</title>
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          <isin value="US67116NAA72"/>
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        <valUSD>103752.43000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isin value="US056623AA98"/>
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        <name>F-BRASILE SPA/ 7.375% 08/15/26</name>
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          <isin value="US30191BAB71"/>
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        <name>BUILDERS FIRSTS 4.25% 02/01/32</name>
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          <isin value="US12008RAP29"/>
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        <valUSD>192027.34000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>RAND PARENT LLC 8.5% 02/15/30</name>
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          <isin value="US753272AA11"/>
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        <name>EQUIPMENTSHARE.COM 9% 05/15/28</name>
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        <name>BEAZER HOMES USA 7.5% 03/15/31</name>
        <lei>549300DUPYT2T0F60I45</lei>
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        <cusip>07556QBU8</cusip>
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          <isin value="US07556QBU85"/>
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          <isin value="US047649AA63"/>
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        <name>HERC HOLDINGS  6.625% 06/15/29</name>
        <lei>549300TP80QLITMSBP82</lei>
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        <name>HERTZ CORP/THE 4.625% 12/01/26</name>
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      <invstOrSec>
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        <name>CELANESE US HOLD 6.8% 11/15/30</name>
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      <invstOrSec>
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        <name>QUIKRETE HOLDIN 6.75% 03/01/33</name>
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        <name>REWORLD HOLDIN 4.875% 12/01/29</name>
        <lei>40XIFLS8XDQGGHGPGC04</lei>
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        <name>ELEMENT SOLUTI 3.875% 09/01/28</name>
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        <cusip>28618MAA4</cusip>
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          <isin value="US28618MAA45"/>
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      <invstOrSec>
        <name>BOMBARDIER INC 6% 02/15/28</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
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        <cusip>097751BX8</cusip>
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      <invstOrSec>
        <name>BOMBARDIER INC 8.75% 11/15/30</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
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        <cusip>097751CA7</cusip>
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        <valUSD>150186.54000000</valUSD>
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        <cusip>59151KAJ7</cusip>
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        <name>CLEVELAND-CLIFFS I 7% 03/15/32</name>
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        <lei>7ZS3DE5PN30BYUJFWP05</lei>
        <title>ENERSYS REGD 144A P/P 6.62500000</title>
        <cusip>29275YAF9</cusip>
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        <name>ATS CORP 4.125% 12/15/28</name>
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          <isin value="US001940AC98"/>
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        <name>SPIRIT AEROSYST 9.75% 11/15/30</name>
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          <isin value="US85205TAR14"/>
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        <valUSD>221631.31000000</valUSD>
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        <name>KB HOME 7.25% 07/15/30</name>
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      <invstOrSec>
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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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>XPO INC 7.125% 02/01/32</name>
        <lei>54930096DB9LCLPN7H13</lei>
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        <identifiers>
          <isin value="US983793AK61"/>
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        <fairValLevel>2</fairValLevel>
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        <name>NESCO HOLDINGS I 5.5% 04/15/29</name>
        <lei>N/A</lei>
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        <cusip>64083YAA9</cusip>
        <identifiers>
          <isin value="US64083YAA91"/>
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        <curCd>USD</curCd>
        <valUSD>141648.51000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FMG RESOURCES  6.125% 04/15/32</name>
        <lei>N/A</lei>
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        <cusip>30251GBE6</cusip>
        <identifiers>
          <isin value="US30251GBE61"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152898.71000000</valUSD>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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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>150000.00000000</balance>
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        <valUSD>145452.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <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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        <balance>132000.00000000</balance>
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        <valUSD>120882.89000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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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>
        <cusip>024747AG2</cusip>
        <identifiers>
          <isin value="US024747AG26"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60066.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>M/I HOMES INC 3.95% 02/15/30</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>M/I HOMES INC REGD 3.95000000</title>
        <cusip>55305BAV3</cusip>
        <identifiers>
          <isin value="US55305BAV36"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45440.17000000</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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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LBM ACQUISITION 6.25% 01/15/29</name>
        <lei>549300FAEB3VWZL4NI86</lei>
        <title>LBM ACQUISITION LLC REGD 144A P/P 6.25000000</title>
        <cusip>05552BAA4</cusip>
        <identifiers>
          <isin value="US05552BAA44"/>
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        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105293.65000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>EQUIPMENTSHARE.COM 8% 03/15/33</name>
        <lei>254900PWJK48CGPKPI80</lei>
        <title>EQUIPMENTSHARE.COM INC REGD 144A P/P 8.00000000</title>
        <cusip>29450YAC3</cusip>
        <identifiers>
          <isin value="US29450YAC30"/>
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        <valUSD>113682.31000000</valUSD>
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        <invCountry>US</invCountry>
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        <name>ROLLER BEARING 4.375% 10/15/29</name>
        <lei>N/A</lei>
        <title>ROLLER BEARING CO OF AME REGD 144A P/P 4.37500000</title>
        <cusip>775631AD6</cusip>
        <identifiers>
          <isin value="US775631AD66"/>
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        <valUSD>85486.86000000</valUSD>
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        <name>BOISE CASCADE  4.875% 07/01/30</name>
        <lei>549300Z8B8LSRHC7XA55</lei>
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        <cusip>09739DAD2</cusip>
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          <isin value="US09739DAD21"/>
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        <balance>65000.00000000</balance>
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        <name>FLUOR CORP 4.25% 09/15/28</name>
        <lei>CQ7WZ4NOFWT7FAE6Q943</lei>
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        <cusip>343412AF9</cusip>
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          <isin value="US343412AF90"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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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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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GFL ENVIRONMENT 4.75% 06/15/29</name>
        <lei>549300FYK4MBXWIVZU26</lei>
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        <cusip>36168QAN4</cusip>
        <identifiers>
          <isin value="US36168QAN43"/>
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        <valUSD>124322.36000000</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>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>KAISER ALUMINUM  4.5% 06/01/31</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US483007AL48"/>
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        <balance>91000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81856.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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"/>
        </identifiers>
        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66498.15000000</valUSD>
        <pctVal>0.122363292313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69538.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156884.06000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FXI HOLDINGS I 12.25% 11/15/26</name>
        <lei>N/A</lei>
        <title>FXI HOLDINGS INC REGD 144A P/P 12.25000000</title>
        <cusip>36120RAE9</cusip>
        <identifiers>
          <isin value="US36120RAE99"/>
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        <balance>107000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94833.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WATCO COS LLC/ 7.125% 08/01/32</name>
        <lei>N/A</lei>
        <title>WATCO COS LLC/FINANCE CO REGD 144A P/P 7.12500000</title>
        <cusip>941130AD8</cusip>
        <identifiers>
          <isin value="US941130AD86"/>
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        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>124849.76000000</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>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVELIS CORP 3.875% 08/15/31</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 3.87500000</title>
        <cusip>670001AH9</cusip>
        <identifiers>
          <isin value="US670001AH91"/>
        </identifiers>
        <balance>102000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88133.24000000</valUSD>
        <pctVal>0.162174036550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="ISO country code not reported for forwards, swaps or supranationals." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-30</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>
</edgarSubmission>
