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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US T-BOND 30YR</title>
        <cusip>N/A</cusip>
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          <ticker value="USM6"/>
          <other otherDesc="FIGI" value="BBG01XB0N4P2"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-174780.64</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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      </invstOrSec>
      <invstOrSec>
        <name>AMC Networks Inc</name>
        <lei>549300VGG9K75226LR46</lei>
        <title>AMCX 10.5 07/15/32 144A</title>
        <cusip>00164VAK9</cusip>
        <identifiers>
          <isin value="US00164VAK98"/>
          <ticker value="AMCX"/>
          <other otherDesc="Internal ID" value="00164VAK9"/>
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        <balance>5001000</balance>
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        <curCd>USD</curCd>
        <valUSD>4935607.42</valUSD>
        <pctVal>0.7810338350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Apld Computeco LLC</name>
        <lei>N/A</lei>
        <title>APLD 9.25 12/15/30 144A</title>
        <cusip>00202DAA5</cusip>
        <identifiers>
          <isin value="US00202DAA54"/>
          <ticker value="APLD"/>
          <other otherDesc="Internal ID" value="00202DAA5"/>
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        <balance>3159000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3254787.2</valUSD>
        <pctVal>0.5150529029</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>9.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alpha Generation LLC</name>
        <lei>254900K5V62L4YGVKF49</lei>
        <title>ALPGEN 6.25 01/15/34 144A</title>
        <cusip>02073LAC5</cusip>
        <identifiers>
          <isin value="US02073LAC54"/>
          <ticker value="ALPGEN"/>
          <other otherDesc="Internal ID" value="02073LAC5"/>
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        <balance>5787000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5684822.41</valUSD>
        <pctVal>0.8995931545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</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>Apld Computeco 2 LLC</name>
        <lei>N/A</lei>
        <title>PFORGE 6.75 03/15/31 144A</title>
        <cusip>03772CAA1</cusip>
        <identifiers>
          <isin value="US03772CAA18"/>
          <ticker value="PFORGE"/>
          <other otherDesc="Internal ID" value="03772CAA1"/>
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        <balance>5504000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5463925.93</valUSD>
        <pctVal>0.8646374520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ardagh Metal Packaging Finance PLC / Ardagh Metal Packaging Finance USA LLC</name>
        <lei>635400FSFRHBFVPTP424</lei>
        <title>AMPBEV 4 09/01/29 144A</title>
        <cusip>03969YAB4</cusip>
        <identifiers>
          <isin value="US03969YAB48"/>
          <ticker value="AMPBEV"/>
          <other otherDesc="Internal ID" value="03969YAB4"/>
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        <balance>4755000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4354160.16</valUSD>
        <pctVal>0.6890228737</pctVal>
        <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</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aretec Escrow Issuer 2 Inc.</name>
        <lei>N/A</lei>
        <title>RCAP 10 08/15/30 144A</title>
        <cusip>04020JAA4</cusip>
        <identifiers>
          <isin value="US04020JAA43"/>
          <ticker value="RCAP"/>
          <other otherDesc="Internal ID" value="04020JAA4"/>
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        <balance>2697000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2864658.2</valUSD>
        <pctVal>0.4533170468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Asurion LLC / Asurion Co-Issuer Inc.</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>ASUCOR 8.375 02/01/34 144A</title>
        <cusip>045941AB7</cusip>
        <identifiers>
          <isin value="US045941AB79"/>
          <ticker value="ASUCOR"/>
          <other otherDesc="Internal ID" value="045941AB7"/>
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        <balance>6474000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6285363.31</valUSD>
        <pctVal>0.9946255836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Atlas Luxco 4 S A R L / Allied Universal Holdco Llc / Allied Universal Finance Corporation</name>
        <lei>549300ONXPZT3KQZDR65</lei>
        <title>UNSEAM 4.625 06/01/28 144a</title>
        <cusip>049362AA4</cusip>
        <identifiers>
          <isin value="US049362AA49"/>
          <ticker value="UNSEAM"/>
          <other otherDesc="Internal ID" value="049362AA4"/>
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        <balance>4826000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4712214.5</valUSD>
        <pctVal>0.7456830840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Algonquin Power &amp; Utilities Corporation</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>AQNCN V4.75 01/18/82</title>
        <cusip>015857AH8</cusip>
        <identifiers>
          <isin value="US015857AH86"/>
          <ticker value="AQNCN"/>
          <other otherDesc="Internal ID" value="US015857AH86"/>
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        <balance>2501000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2432426.58</valUSD>
        <pctVal>0.3849186733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2082-01-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Protective Industrial Products</name>
        <lei>N/A</lei>
        <title>Protective Industrial Products Term Loan B 400 2032-01-05</title>
        <cusip>37987UAG7</cusip>
        <identifiers>
          <isin value="US37987UAG76"/>
          <ticker value="PROINP"/>
          <other otherDesc="Internal ID" value="37987UAG7"/>
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        <balance>2663947.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2651959.74</valUSD>
        <pctVal>0.4196586377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.66774</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Granite Ridge Resources Inc</name>
        <lei>254900CAHJQKOQ1YZC67</lei>
        <title>GRNT 8.875 11/05/29</title>
        <cusip>387432AA5</cusip>
        <identifiers>
          <isin value="US387432AA56"/>
          <ticker value="GRNT"/>
          <other otherDesc="Internal ID" value="387432AA5"/>
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        <balance>3633000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3478597.5</valUSD>
        <pctVal>0.5504697021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.875</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HLF Financing SaRL LLC and Herbalife International Inc.</name>
        <lei>549300VKVJUV5OGV2R51</lei>
        <title>HLF 12.25 04/15/29 144A</title>
        <cusip>40390DAD7</cusip>
        <identifiers>
          <isin value="US40390DAD75"/>
          <ticker value="HLF"/>
          <other otherDesc="Internal ID" value="40390DAD7"/>
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        <balance>7292000</balance>
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        <curCd>USD</curCd>
        <valUSD>7776290.89</valUSD>
        <pctVal>1.2305570073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hilton Grand Vacations Borrower Escrow LLC/ Hilton Grand Vacations Borrower Escrow Inc</name>
        <lei>N/A</lei>
        <title>HGVLLC 4.875 07/01/31 144A</title>
        <cusip>43284MAB4</cusip>
        <identifiers>
          <isin value="US43284MAB46"/>
          <ticker value="HGVLLC"/>
          <other otherDesc="Internal ID" value="43284MAB4"/>
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        <balance>3096000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2793690.77</valUSD>
        <pctVal>0.4420868255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Howard Midstream Energy Partners Llc</name>
        <lei>N/A</lei>
        <title>HOWARD 6.625 01/15/34 144A</title>
        <cusip>442722AD6</cusip>
        <identifiers>
          <isin value="US442722AD63"/>
          <ticker value="HOWARD"/>
          <other otherDesc="Internal ID" value="442722AD6"/>
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        <balance>9874000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9911540.95</valUSD>
        <pctVal>1.5684490642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625</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>HudBay Minerals Inc</name>
        <lei>894500LX3TMESP27BE29</lei>
        <title>HudBay Minerals Inc COM</title>
        <cusip>443628102</cusip>
        <identifiers>
          <isin value="CA4436281022"/>
          <ticker value="HBM"/>
          <other otherDesc="SEDOL" value="B05BQ98"/>
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        <balance>86279</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1803231.1</valUSD>
        <pctVal>0.2853518081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ITT Holdings LLC</name>
        <lei>549300TH2PHOLK31LB42</lei>
        <title>INTMAT 6.5 08/01/29 144A</title>
        <cusip>45074JAA2</cusip>
        <identifiers>
          <isin value="US45074JAA25"/>
          <ticker value="INTMAT"/>
          <other otherDesc="Internal ID" value="45074JAA2"/>
        </identifiers>
        <balance>7868000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7650356.96</valUSD>
        <pctVal>1.2106286273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JB Poindexter &amp; Co Inc</name>
        <lei>549300W6P81HOZZGPQ16</lei>
        <title>JBPOIN 8.75 12/15/31 144A</title>
        <cusip>465965AC5</cusip>
        <identifiers>
          <isin value="US465965AC53"/>
          <ticker value="JBPOIN"/>
          <other otherDesc="Internal ID" value="465965AC5"/>
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        <balance>1090000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1104791.3</valUSD>
        <pctVal>0.1748273946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jane Street Group LLC / JSG Finance Inc.</name>
        <lei>5493002N1IVX6KHGYO08</lei>
        <title>JANEST 6.125 11/01/32 144A</title>
        <cusip>47077WAD0</cusip>
        <identifiers>
          <isin value="US47077WAD02"/>
          <ticker value="JANEST"/>
          <other otherDesc="Internal ID" value="47077WAD0"/>
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        <balance>10324000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10209286.94</valUSD>
        <pctVal>1.6155657963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US T-NOTE 10YR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TYM6"/>
          <other otherDesc="FIGI" value="BBG01XB0H674"/>
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        <balance>90</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-163113.93</valUSD>
        <pctVal>-0.0258119189</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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                  <cusip value="N/A"/>
                  <isin value="N/A"/>
                  <ticker value="TYM6"/>
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            <expDate>2026-06-30</expDate>
            <notionalAmt>10157332.68</notionalAmt>
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            <unrealizedAppr>-163113.93</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
        <title>KGS 5.875 04/01/31 144A</title>
        <cusip>50012LAF1</cusip>
        <identifiers>
          <isin value="US50012LAF13"/>
          <ticker value="KGS"/>
          <other otherDesc="Internal ID" value="50012LAF1"/>
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        <balance>3738000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3756511.92</valUSD>
        <pctVal>0.5944481928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kohl's Corp.</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>KSS 10 06/01/30 144A</title>
        <cusip>500255AY0</cusip>
        <identifiers>
          <isin value="US500255AY01"/>
          <ticker value="KSS"/>
          <other otherDesc="Internal ID" value="500255AY0"/>
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        <balance>3204000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3387980.09</valUSD>
        <pctVal>0.5361299750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US T-NOTE ULTRA 10Y</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="UXYM6"/>
          <other otherDesc="FIGI" value="BBG01XB0MN08"/>
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        <balance>-113</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>154569.56</valUSD>
        <pctVal>0.0244598174</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <isin value="N/A"/>
                  <ticker value="UXYM6"/>
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            <expDate>2026-06-30</expDate>
            <notionalAmt>-12981835.19</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>154569.56</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Henderson Cash Liquidity Fund LLC</name>
        <lei>N/A</lei>
        <title>Janus Henderson Cash Liquidity Fund LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="895"/>
        </identifiers>
        <balance>9741039.101</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9741039.1</valUSD>
        <pctVal>1.5414680460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>N/A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HOLX"/>
          <other otherDesc="Internal ID" value="BL5427549"/>
        </identifiers>
        <balance>2120000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>2421996.12</valUSD>
        <pctVal>0.3832681081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.784</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Garda World Security</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>Garda World Security Term Loan B 275 2029-02-01</title>
        <cusip>C4000KAH7</cusip>
        <identifiers>
          <isin value="XAC4000KAH77"/>
          <ticker value="GWCN"/>
          <other otherDesc="Internal ID" value="BL5453958"/>
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        <balance>4352050.38</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4319410</valUSD>
        <pctVal>0.6835238442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.42192</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inspired Education Group</name>
        <lei>N/A</lei>
        <title>Inspired Education Group Term Loan B 275 2031-02-01</title>
        <cusip>G4800AAJ3</cusip>
        <identifiers>
          <isin value="XAG4800AAJ34"/>
          <ticker value="INSHOL"/>
          <other otherDesc="Internal ID" value="BL5508348"/>
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        <balance>2430769.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2423185.23</valUSD>
        <pctVal>0.3834562785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.41815</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US T-NOTE 5YR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FVM6"/>
          <other otherDesc="FIGI" value="BBG01XK4Y873"/>
        </identifiers>
        <balance>-390</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>524062.5</valUSD>
        <pctVal>0.0829301258</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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                  <cusip value="N/A"/>
                  <isin value="N/A"/>
                  <ticker value="FVM6"/>
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            <expDate>2026-07-06</expDate>
            <notionalAmt>-42714140.82</notionalAmt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ivory Coast (Republic Of)</name>
        <lei>254900ICW11T82O6H590</lei>
        <title>IVYCST 8.075 04/01/36 144A</title>
        <cusip>221625AV8</cusip>
        <identifiers>
          <isin value="US221625AV83"/>
          <ticker value="IVYCST"/>
          <other otherDesc="Internal ID" value="US221625AV83"/>
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        <balance>1789000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1814865.07</valUSD>
        <pctVal>0.2871928225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.075</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Garda World Security Corporation</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>GWCN 8.25 08/01/32 144A</title>
        <cusip>36485MAN9</cusip>
        <identifiers>
          <isin value="US36485MAN92"/>
          <ticker value="GWCN"/>
          <other otherDesc="Internal ID" value="US36485MAN92"/>
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        <balance>2920000</balance>
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        <curCd>USD</curCd>
        <valUSD>2889438.7</valUSD>
        <pctVal>0.4572384302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Garda World Security Corporation</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>GWCN 8.375 11/15/32 144A</title>
        <cusip>36485MAP4</cusip>
        <identifiers>
          <isin value="US36485MAP41"/>
          <ticker value="GWCN"/>
          <other otherDesc="Internal ID" value="US36485MAP41"/>
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        <balance>4570000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4573103.03</valUSD>
        <pctVal>0.7236694278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.375</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>Victra Holdings LLC / Victra Finance Corp.</name>
        <lei>549300KWDYQKQSF0MQ18</lei>
        <title>VICTRA 8.75 09/15/29 144A</title>
        <cusip>92648DAA4</cusip>
        <identifiers>
          <isin value="US92648DAA46"/>
          <ticker value="VICTRA"/>
          <other otherDesc="Internal ID" value="92648DAA4"/>
        </identifiers>
        <balance>6422000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6665124.08</valUSD>
        <pctVal>1.0547207219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2657052.250000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kioxia Holdings Corp.</name>
        <lei>35380080RTKRARNH4R73</lei>
        <title>KIOXIA 6.625 07/24/33 144A</title>
        <cusip>49726JAB4</cusip>
        <identifiers>
          <isin value="US49726JAB44"/>
          <ticker value="KIOXIA"/>
          <other otherDesc="Internal ID" value="US49726JAB44"/>
        </identifiers>
        <balance>13023000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13385363.02</valUSD>
        <pctVal>2.1181630797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625</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>Voyager Parent LLC</name>
        <lei>2549002DYVI4ACSV4V71</lei>
        <title>EVRI 9.25 07/01/32 144A</title>
        <cusip>92921EAA0</cusip>
        <identifiers>
          <isin value="US92921EAA01"/>
          <ticker value="EVRI"/>
          <other otherDesc="Internal ID" value="92921EAA0"/>
        </identifiers>
        <balance>6144000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6378786.82</valUSD>
        <pctVal>1.0094093612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</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>WBI Operations LLC</name>
        <lei>254900A83461EGRMOV11</lei>
        <title>WBI 6.25 10/15/30 144A</title>
        <cusip>92944BAA9</cusip>
        <identifiers>
          <isin value="US92944BAA98"/>
          <ticker value="WBI"/>
          <other otherDesc="Internal ID" value="92944BAA9"/>
        </identifiers>
        <balance>1856000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1867061.76</valUSD>
        <pctVal>0.2954526733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</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>Osaic Holdings Inc.</name>
        <lei>549300XL60BDV6UW5C86</lei>
        <title>ADVGRO 6.75 08/01/32 144A</title>
        <cusip>00791GAB3</cusip>
        <identifiers>
          <isin value="US00791GAB32"/>
          <ticker value="ADVGRO"/>
          <other otherDesc="Internal ID" value="00791GAB3"/>
        </identifiers>
        <balance>2149000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2149268.41</valUSD>
        <pctVal>0.3401103868</pctVal>
        <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>6.75</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>Quiksilver Inc</name>
        <lei>N/A</lei>
        <title>Authentic Brands Group Inc - Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DU0US0008388"/>
          <other otherDesc="Internal ID" value="3303067"/>
        </identifiers>
        <balance>14627.67</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2277528.22</valUSD>
        <pctVal>0.3604068251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OVG Business Services</name>
        <lei>N/A</lei>
        <title>OVG Business Services Term Loan B 300 2031-06-03</title>
        <cusip>62955EAJ3</cusip>
        <identifiers>
          <isin value="US62955EAJ38"/>
          <ticker value="OVGBUS"/>
          <other otherDesc="Internal ID" value="62955EAJ3"/>
        </identifiers>
        <balance>2238976.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2233379.1</valUSD>
        <pctVal>0.3534204598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66774</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 Companies, L.L.C. / Watco Finance Corp.</name>
        <lei>549300UK74AMHGBXZG45</lei>
        <title>WATCOS 7.125 08/01/32 144A</title>
        <cusip>941130AD8</cusip>
        <identifiers>
          <isin value="US941130AD86"/>
          <ticker value="WATCOS"/>
          <other otherDesc="Internal ID" value="941130AD8"/>
        </identifiers>
        <balance>4174000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4286760.61</valUSD>
        <pctVal>0.6783572505</pctVal>
        <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>7.125</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>Weekley Homes LLC/Weekley Finance Corp.</name>
        <lei>5493009MTTQO8ZN53F13</lei>
        <title>WEEKHM 4.875 09/15/28 144A</title>
        <cusip>948565AD8</cusip>
        <identifiers>
          <isin value="US948565AD85"/>
          <ticker value="WEEKHM"/>
          <other otherDesc="Internal ID" value="948565AD8"/>
        </identifiers>
        <balance>4607000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4461093.09</valUSD>
        <pctVal>0.7059444457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875</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>New Flyer Holdings Inc.</name>
        <lei>N/A</lei>
        <title>NFICN 9.25 07/01/30 144A</title>
        <cusip>64438WAA5</cusip>
        <identifiers>
          <isin value="US64438WAA53"/>
          <ticker value="NFICN"/>
          <other otherDesc="Internal ID" value="64438WAA5"/>
        </identifiers>
        <balance>4041000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4319185.71</valUSD>
        <pctVal>0.6834883515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</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>New Home Company Inc</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>NWHM 9.25 10/01/29 144A</title>
        <cusip>645370AF4</cusip>
        <identifiers>
          <isin value="US645370AF49"/>
          <ticker value="NWHM"/>
          <other otherDesc="Internal ID" value="645370AF4"/>
        </identifiers>
        <balance>3223000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3255703.78</valUSD>
        <pctVal>0.5151979468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</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>New Home Company Inc</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>NWHM 8.5 11/01/30 144A</title>
        <cusip>645370AG2</cusip>
        <identifiers>
          <isin value="US645370AG22"/>
          <ticker value="NWHM"/>
          <other otherDesc="Internal ID" value="645370AG2"/>
        </identifiers>
        <balance>5743000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5615627.73</valUSD>
        <pctVal>0.8886434615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</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>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>RITM 8 04/01/29 144A</title>
        <cusip>64828TAB8</cusip>
        <identifiers>
          <isin value="US64828TAB89"/>
          <ticker value="RITM"/>
          <other otherDesc="Internal ID" value="64828TAB8"/>
        </identifiers>
        <balance>5147000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5056570.3</valUSD>
        <pctVal>0.8001755726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</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>White Cap</name>
        <lei>254900L2N0T6GULCL366</lei>
        <title>White Cap Term Loan B (Incremental) 350 2033-01-31</title>
        <cusip>96350TAK6</cusip>
        <identifiers>
          <isin value="US96350TAK60"/>
          <ticker value="WHTCAP"/>
          <other otherDesc="Internal ID" value="96350TAK6"/>
        </identifiers>
        <balance>4943519.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4692240.23</valUSD>
        <pctVal>0.7425222612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.16774</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>Wilsonart LLC</name>
        <lei>549300SAZRUMYKDJBY14</lei>
        <title>WLSNRT 11 08/15/32 144A</title>
        <cusip>97246JAA6</cusip>
        <identifiers>
          <isin value="US97246JAA60"/>
          <ticker value="WLSNRT"/>
          <other otherDesc="Internal ID" value="97246JAA6"/>
        </identifiers>
        <balance>5788000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4195616.44</valUSD>
        <pctVal>0.6639341665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3157382.940000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uniti</name>
        <lei>N/A</lei>
        <title>Uniti Term Loan B 400 2032-09-16</title>
        <cusip>97381JAK9</cusip>
        <identifiers>
          <isin value="US97381JAK97"/>
          <ticker value="UNIT"/>
          <other otherDesc="Internal ID" value="97381JAK9"/>
        </identifiers>
        <balance>2004625</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2003382.13</valUSD>
        <pctVal>0.3170246527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.66774</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>Wyndham Hotels &amp; Resorts Inc</name>
        <lei>549300FE3MQ4RVXXC673</lei>
        <title>WH 5.625 03/01/33 144A</title>
        <cusip>98311AAE5</cusip>
        <identifiers>
          <isin value="US98311AAE55"/>
          <ticker value="WH"/>
          <other otherDesc="Internal ID" value="98311AAE5"/>
        </identifiers>
        <balance>1357000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1335256.79</valUSD>
        <pctVal>0.2112973425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625</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>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>ZTS 0.25 06/15/29</title>
        <cusip>98978VAY9</cusip>
        <identifiers>
          <isin value="US98978VAY92"/>
          <ticker value="ZTS"/>
          <other otherDesc="Internal ID" value="98978VAY9"/>
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        <balance>3485000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3458862.5</valUSD>
        <pctVal>0.5473467424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>WYNMAC 6.75 02/15/34 144A</title>
        <cusip>98313RAL0</cusip>
        <identifiers>
          <isin value="US98313RAL06"/>
          <ticker value="WYNMAC"/>
          <other otherDesc="Internal ID" value="US98313RAL06"/>
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        <balance>6396000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6242007.09</valUSD>
        <pctVal>0.9877646905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rithm Capital Corp.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
        <title>RITM 8 07/15/30 144A</title>
        <cusip>64828TAC6</cusip>
        <identifiers>
          <isin value="US64828TAC62"/>
          <ticker value="RITM"/>
          <other otherDesc="Internal ID" value="64828TAC6"/>
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        <balance>1722000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1662041.34</valUSD>
        <pctVal>0.2630092735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Olympus Water US Holding Corp.</name>
        <lei>549300YU2GGVCBN3MY89</lei>
        <title>SOLEIN 7.25 06/15/31 144A</title>
        <cusip>681639AD2</cusip>
        <identifiers>
          <isin value="US681639AD27"/>
          <ticker value="SOLEIN"/>
          <other otherDesc="Internal ID" value="681639AD2"/>
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        <balance>2668000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2605843.07</valUSD>
        <pctVal>0.4123609180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Solenis</name>
        <lei>549300YU2GGVCBN3MY89</lei>
        <title>Solenis Term Loan B (Incremental) 325 2032-07-15</title>
        <cusip>68163YAK1</cusip>
        <identifiers>
          <isin value="US68163YAK10"/>
          <ticker value="SOLEIN"/>
          <other otherDesc="Internal ID" value="68163YAK1"/>
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        <balance>450395.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>433014.32</valUSD>
        <pctVal>0.0685222317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.94961</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>OneMain Financial Corporation</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OMF 4 09/15/30</title>
        <cusip>682691AA8</cusip>
        <identifiers>
          <isin value="US682691AA80"/>
          <ticker value="OMF"/>
          <other otherDesc="Internal ID" value="682691AA8"/>
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        <balance>1716000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1549690.43</valUSD>
        <pctVal>0.2452303347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OneMain Financial Corporation</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OMF 6.5 03/15/33</title>
        <cusip>682691AM2</cusip>
        <identifiers>
          <isin value="US682691AM29"/>
          <ticker value="OMF"/>
          <other otherDesc="Internal ID" value="682691AM2"/>
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        <balance>6386000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6104543.31</valUSD>
        <pctVal>0.9660117726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK</title>
        <cusip>68389X204</cusip>
        <identifiers>
          <isin value="US68389X2045"/>
          <ticker value="ORCL"/>
          <other otherDesc="SEDOL" value="BTTQ6B4"/>
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        <balance>145000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6526450</valUSD>
        <pctVal>1.0327762804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Carvana Co</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>CVNA 5.875 10/01/28 144A</title>
        <cusip>146869AD4</cusip>
        <identifiers>
          <isin value="US146869AD48"/>
          <ticker value="CVNA"/>
          <other otherDesc="Internal ID" value="146869AD4"/>
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        <balance>95000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91200</valUSD>
        <pctVal>0.0144319188</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>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carvana Co</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>CVNA 4.875 09/01/29 144A</title>
        <cusip>146869AH5</cusip>
        <identifiers>
          <isin value="US146869AH51"/>
          <ticker value="CVNA"/>
          <other otherDesc="Internal ID" value="146869AH5"/>
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        <balance>3951000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3595410</valUSD>
        <pctVal>0.5689546639</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>4.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Capstone Copper Corp</name>
        <lei>549300III6KGKKC42W63</lei>
        <title>CAPCOP 6.75 03/31/33 144A</title>
        <cusip>14071LAA6</cusip>
        <identifiers>
          <isin value="US14071LAA61"/>
          <ticker value="CAPCOP"/>
          <other otherDesc="Internal ID" value="US14071LAA61"/>
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        <balance>6763000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6718458.88</valUSD>
        <pctVal>1.0631606726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</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>Park River Holdings Inc</name>
        <lei>254900PGY077KWCROT75</lei>
        <title>PRIMBP 8 03/15/31 144A</title>
        <cusip>70082LAC1</cusip>
        <identifiers>
          <isin value="US70082LAC19"/>
          <ticker value="PRIMBP"/>
          <other otherDesc="Internal ID" value="70082LAC1"/>
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        <balance>3129000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3114550.9</valUSD>
        <pctVal>0.4928612482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</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>PENN Entertainment Inc</name>
        <lei>N/A</lei>
        <title>PENN 6.75 04/01/31 144A</title>
        <cusip>707569AY5</cusip>
        <identifiers>
          <isin value="US707569AY52"/>
          <ticker value="PENN"/>
          <other otherDesc="Internal ID" value="707569AY5"/>
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        <balance>8034000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7802774.25</valUSD>
        <pctVal>1.2347478593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</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>Pennymac Financial Services Inc</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>Pennymac Financial Services Inc COM USD0.0001</title>
        <cusip>70932M107</cusip>
        <identifiers>
          <isin value="US70932M1071"/>
          <ticker value="PFSI"/>
          <other otherDesc="SEDOL" value="BGYTGH3"/>
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        <balance>11428</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>998807.2</valUSD>
        <pctVal>0.1580559699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pennymac Financial Services Inc</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PFSI 6.875 02/15/33 144A</title>
        <cusip>70932MAF4</cusip>
        <identifiers>
          <isin value="US70932MAF41"/>
          <ticker value="PFSI"/>
          <other otherDesc="Internal ID" value="70932MAF4"/>
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        <balance>1692000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1618798.83</valUSD>
        <pctVal>0.2561663744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875</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>Pennymac Financial Services Inc</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PFSI 6.75 02/15/34 144A</title>
        <cusip>70932MAH0</cusip>
        <identifiers>
          <isin value="US70932MAH07"/>
          <ticker value="PFSI"/>
          <other otherDesc="Internal ID" value="70932MAH0"/>
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        <balance>5750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5381070.97</valUSD>
        <pctVal>0.8515260917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</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>Rand Parent LLC</name>
        <lei>N/A</lei>
        <title>AAWW 8.5 02/15/30 144A</title>
        <cusip>753272AA1</cusip>
        <identifiers>
          <isin value="US753272AA11"/>
          <ticker value="AAWW"/>
          <other otherDesc="Internal ID" value="753272AA1"/>
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        <balance>6550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6723738.75</valUSD>
        <pctVal>1.0639961842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US T-BOND ULTRA</title>
        <cusip>N/A</cusip>
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          <ticker value="WNM6"/>
          <other otherDesc="FIGI" value="BBG01XB0MZQ3"/>
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        <balance>-9</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>36687.83</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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                  <isin value="N/A"/>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>United Rentals (North America), Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>URI 5.375 11/15/33 144A</title>
        <cusip>911365BS2</cusip>
        <identifiers>
          <isin value="US911365BS20"/>
          <ticker value="URI"/>
          <other otherDesc="Internal ID" value="911365BS2"/>
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        <curCd>USD</curCd>
        <valUSD>3654202.54</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Univision Communications Inc.</name>
        <lei>549300YQDE2JSGTL8V47</lei>
        <title>UVN 8.5 07/31/31 144A</title>
        <cusip>914906AZ5</cusip>
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          <isin value="US914906AZ55"/>
          <ticker value="UVN"/>
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        <curCd>USD</curCd>
        <valUSD>1277202.48</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>TLN 6.25 02/01/34 144A</title>
        <cusip>87422VAM0</cusip>
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          <isin value="US87422VAM00"/>
          <ticker value="TLN"/>
          <other otherDesc="Internal ID" value="87422VAM0"/>
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        <balance>1194000</balance>
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        <curCd>USD</curCd>
        <valUSD>1180696.93</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>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>TLN 6.5 02/01/36 144A</title>
        <cusip>87422VAN8</cusip>
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          <isin value="US87422VAN82"/>
          <ticker value="TLN"/>
          <other otherDesc="Internal ID" value="87422VAN8"/>
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        <balance>1908000</balance>
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        <curCd>USD</curCd>
        <valUSD>1921223.83</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>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Tailored Brands</name>
        <lei>NKFP7BJ6WYEV4I24P532</lei>
        <title>Tailored Brands Term Loan B 575 2031-01-13</title>
        <cusip>58711MAK5</cusip>
        <identifiers>
          <ticker value="TLRD"/>
          <other otherDesc="Internal ID" value="BL5454709"/>
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        <balance>777343.48</balance>
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        <curCd>USD</curCd>
        <valUSD>776130.82</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-28</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Univision Communications Inc.</name>
        <lei>549300YQDE2JSGTL8V47</lei>
        <title>UVN 9.375 08/01/32 144A</title>
        <cusip>914906BA9</cusip>
        <identifiers>
          <isin value="US914906BA95"/>
          <ticker value="UVN"/>
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        <balance>3571000</balance>
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        <curCd>USD</curCd>
        <valUSD>3680326.74</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>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USA Compression Partners LP / USA Compression Finance Corp</name>
        <lei>5493000B1PEOKXRZEO65</lei>
        <title>USAC 6.25 10/01/33 144A</title>
        <cusip>91740PAH1</cusip>
        <identifiers>
          <isin value="US91740PAH10"/>
          <ticker value="USAC"/>
          <other otherDesc="Internal ID" value="91740PAH1"/>
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        <balance>4376000</balance>
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        <curCd>USD</curCd>
        <valUSD>4362237.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Verde Purchaser LLC</name>
        <lei>2549004HFEKMUGBG3Z35</lei>
        <title>VRTV 10.5 11/30/30 144A</title>
        <cusip>92339LAA0</cusip>
        <identifiers>
          <isin value="US92339LAA08"/>
          <ticker value="VRTV"/>
          <other otherDesc="Internal ID" value="92339LAA0"/>
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        <balance>9276000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9640064.45</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Caesars Republic Alexander Valley</name>
        <lei>N/A</lei>
        <title>Caesars Republic Alexander Valley Term Loan B 900 2031-05-27</title>
        <cusip>76837PAC7</cusip>
        <identifiers>
          <isin value="US76837PAC77"/>
          <ticker value="RIVER"/>
          <other otherDesc="Internal ID" value="BL5114014"/>
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        <balance>5050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4923750</valUSD>
        <pctVal>0.7791574609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ProAmpac</name>
        <lei>549300ZI6LTXYFEY1578</lei>
        <title>ProAmpac Term Loan B 400 2033-02-07</title>
        <cusip>74274NAM5</cusip>
        <identifiers>
          <isin value="US74274NAM56"/>
          <ticker value="PROLAM"/>
          <other otherDesc="Internal ID" value="BL5557287"/>
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        <balance>4953437.21</balance>
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        <curCd>USD</curCd>
        <valUSD>4771398.39</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-07</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NCL Corporation Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCLH 6.25 09/15/33 144A</title>
        <cusip>62886HBZ3</cusip>
        <identifiers>
          <isin value="US62886HBZ38"/>
          <ticker value="NCLH"/>
          <other otherDesc="Internal ID" value="US62886HBZ38"/>
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        <balance>2010000</balance>
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        <curCd>USD</curCd>
        <valUSD>1950380.18</valUSD>
        <pctVal>0.3086373737</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Matador Resources Company</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>MTDR 6 04/15/34 144A</title>
        <cusip>576485AJ5</cusip>
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          <ticker value="MTDR"/>
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        <balance>2906000</balance>
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        <curCd>USD</curCd>
        <valUSD>2887625.86</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Michaels Companies Inc.</name>
        <lei>549300H9LWMBP7HYLR98</lei>
        <title>MIK 8.5 03/15/33 144A</title>
        <cusip>59408QAB2</cusip>
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          <ticker value="MIK"/>
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        <balance>3251000</balance>
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        <curCd>USD</curCd>
        <valUSD>3164828.99</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Maxam Prill S.a r.l.</name>
        <lei>984500C4C5B820A6B691</lei>
        <title>MXPRLL 7.75 07/15/30 144A</title>
        <cusip>57779MAA8</cusip>
        <identifiers>
          <isin value="US57779MAA80"/>
          <ticker value="MXPRLL"/>
          <other otherDesc="Internal ID" value="US57779MAA80"/>
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        <balance>6468000</balance>
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        <curCd>USD</curCd>
        <valUSD>6573835.88</valUSD>
        <pctVal>1.0402748459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rakuten Group Inc.</name>
        <lei>529900IMXUCQKUL1H943</lei>
        <title>RAKUTN V5.125 PERP 144A</title>
        <cusip>75102WAA6</cusip>
        <identifiers>
          <isin value="US75102WAA62"/>
          <ticker value="RAKUTN"/>
          <other otherDesc="Internal ID" value="US75102WAA62"/>
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        <balance>1384000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1380678.68</valUSD>
        <pctVal>0.2184851170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Uzbek Industrial and Construction Bank</name>
        <lei>213800C2NIFPFTXYIU69</lei>
        <title>SQBNZU V9.45 PERP 144A</title>
        <cusip>917935AC2</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Sell EUR / Buy USD</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="FXF110105650"/>
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        <units>NC</units>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="FXF110106037"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="FXF110106174"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="FXF110106212"/>
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        <units>NC</units>
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      <invstOrSec>
        <name>TerraForm Power Operating, LLC</name>
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        <cusip>88104LAG8</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>Travere Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>TVTX 2.25 03/01/29</title>
        <cusip>89422GAA5</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Applied Digital Corp</name>
        <lei>2549004NE2B6RYXINZ02</lei>
        <title>Applied Digital Corp COM NEW</title>
        <cusip>038169207</cusip>
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          <ticker value="APLD"/>
          <other otherDesc="SEDOL" value="BMCNFN8"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Beazer Homes USA Inc.</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>BZH 7.5 03/15/31 144A</title>
        <cusip>07556QBU8</cusip>
        <identifiers>
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          <ticker value="BZH"/>
          <other otherDesc="Internal ID" value="07556QBU8"/>
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        <balance>4692000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bath &amp; Body Works Inc</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>BBWI 6.95 03/01/33</title>
        <cusip>532716AK3</cusip>
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          <ticker value="BBWI"/>
          <other otherDesc="Internal ID" value="532716AK3"/>
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        <curCd>USD</curCd>
        <valUSD>4206166.05</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bath &amp; Body Works Inc</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>BBWI 7.6 07/15/37</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bread Financial Holdings Inc</name>
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        <title>BFH 6.75 05/15/31 144A</title>
        <cusip>018581AR9</cusip>
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          <ticker value="BFH"/>
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      <invstOrSec>
        <name>Biomarin Pharmaceutical Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>Biomarin Pharmaceutical Inc. COM USD0.001</title>
        <cusip>09061G101</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Biomarin Pharmaceutical Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>BMRN 5.5 02/15/34 144A</title>
        <cusip>09061GAL5</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Black Pearl Compute LLC</name>
        <lei>N/A</lei>
        <title>BLKPRL 6.125 02/15/31 144A</title>
        <cusip>09216NAA8</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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      <invstOrSec>
        <name>CP Atlas Buyer Inc.</name>
        <lei>2549006ZZ07G0NDDCR36</lei>
        <title>AMBATH 9.75 07/15/30 144A</title>
        <cusip>12597YAC3</cusip>
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        <curCd>USD</curCd>
        <valUSD>2035916.26</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bridgebio Pharma Inc</name>
        <lei>54930028YG89VTY2J114</lei>
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          <ticker value="BBIO"/>
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        <valUSD>4167874.9</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Broadcom Inc</name>
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        <title>Broadcom Inc COM USD0.001</title>
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          <other otherDesc="SEDOL" value="BDZ78H9"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Carvana Co</name>
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        <title>CVNA 10.25 05/01/30 144A</title>
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          <isin value="US146869AJ18"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>10.25</annualizedRt>
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      <invstOrSec>
        <name>Carvana Co</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>CVNA 9 06/01/31 144A</title>
        <cusip>146869AM4</cusip>
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          <isin value="US146869AM47"/>
          <ticker value="CVNA"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
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          <annualizedRt>9</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Carvana Co</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>CVNA 9 06/01/30 144A</title>
        <cusip>146869AN2</cusip>
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          <isin value="US146869AN20"/>
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          <other otherDesc="Internal ID" value="146869AN2"/>
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        <balance>4516088</balance>
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        <curCd>USD</curCd>
        <valUSD>4697874.09</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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          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Century Communities Inc</name>
        <lei>5299002QMB2O7ZL1CA26</lei>
        <title>CCS 6.625 09/15/33 144A</title>
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          <isin value="US156504AN20"/>
          <ticker value="CCS"/>
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        <curCd>USD</curCd>
        <valUSD>2441277.33</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-15</maturityDt>
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          <annualizedRt>6.625</annualizedRt>
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      <invstOrSec>
        <name>Burford Capital Global Finance LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURLN 6.875 04/15/30 144A</title>
        <cusip>12116LAC3</cusip>
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          <isin value="US12116LAC37"/>
          <ticker value="BURLN"/>
          <other otherDesc="Internal ID" value="12116LAC3"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Burford Capital Global Finance LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURLN 7.5 07/15/33 144A</title>
        <cusip>12116LAG4</cusip>
        <identifiers>
          <isin value="US12116LAG41"/>
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          <other otherDesc="Internal ID" value="12116LAG4"/>
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        <balance>5980000</balance>
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        <curCd>USD</curCd>
        <valUSD>4978350</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-15</maturityDt>
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          <annualizedRt>7.5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Burford Capital Global Finance LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURLN 8.5 01/15/34 144A</title>
        <cusip>12116LAJ8</cusip>
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          <isin value="US12116LAJ89"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</annualizedRt>
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      <invstOrSec>
        <name>Caesars Entertainment Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment Inc. COM</title>
        <cusip>12769G100</cusip>
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          <isin value="US12769G1004"/>
          <ticker value="CZR"/>
          <other otherDesc="SEDOL" value="BMWWGB0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Caesars Entertainment Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>CZR 6 10/15/32 144A</title>
        <cusip>12769GAD2</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Breakwater Energy Holdings Sa R L</name>
        <lei>984500969HAFA937F390</lei>
        <title>BRKWTR 9.25 11/15/30 144A</title>
        <cusip>10637BAA3</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ciena Corporation</name>
        <lei>W0CZ7N0GH8UIGXDM1H41</lei>
        <title>CIEN 4 01/31/30 144A</title>
        <cusip>171779AL5</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cipher Digital Inc.</name>
        <lei>254900QABG5HCQZ28A17</lei>
        <title>Cipher Digital Inc. COM</title>
        <cusip>17253J106</cusip>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>Cipher Compute LLC</name>
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        <title>CIFR 7.125 11/15/30 144A</title>
        <cusip>17253NAA5</cusip>
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      <invstOrSec>
        <name>Cloud Software Group Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>TIBX 9 09/30/29 144A</title>
        <cusip>18912UAA0</cusip>
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      <invstOrSec>
        <name>Cogent Biosciences Inc.</name>
        <lei>N/A</lei>
        <title>COGT 1.625 11/15/31</title>
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          <ticker value="UMRX"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Compass Minerals International Inc.</name>
        <lei>2549008X9G8XP7YJGC47</lei>
        <title>CMP 8 07/01/30 144A</title>
        <cusip>20451NAJ0</cusip>
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        <curCd>USD</curCd>
        <valUSD>7055375.49</valUSD>
        <pctVal>1.1164759487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CoreWeave Inc.</name>
        <lei>984500511DP2B6186053</lei>
        <title>CRWV 9.25 06/01/30 144A</title>
        <cusip>21873SAB4</cusip>
        <identifiers>
          <isin value="US21873SAB43"/>
          <ticker value="CRWV"/>
          <other otherDesc="Internal ID" value="21873SAB4"/>
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        <balance>3166000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3076273.66</valUSD>
        <pctVal>0.4868040770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Crocs Inc</name>
        <lei>549300B0J6YCXD63OG72</lei>
        <title>CROX 4.125 08/15/31 144A</title>
        <cusip>227046AB5</cusip>
        <identifiers>
          <isin value="US227046AB51"/>
          <ticker value="CROX"/>
          <other otherDesc="Internal ID" value="227046AB5"/>
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        <balance>3476000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3127820.2</valUSD>
        <pctVal>0.4949610450</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>4.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.</name>
        <lei>254900V7LN9S9W17X250</lei>
        <title>VGNT 6.375 04/15/34 144A</title>
        <cusip>23292NAB4</cusip>
        <identifiers>
          <isin value="US23292NAB47"/>
          <ticker value="VGNT"/>
          <other otherDesc="Internal ID" value="23292NAB4"/>
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        <balance>2514000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2440194.04</valUSD>
        <pctVal>0.3861478329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375</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>Forefront Dermatology</name>
        <lei>254900GUIR9SP64DNR96</lei>
        <title>Forefront Dermatology Term Loan B 425 2029-03-07</title>
        <cusip>24982LAB1</cusip>
        <identifiers>
          <isin value="US24982LAB18"/>
          <ticker value="DEINHO"/>
          <other otherDesc="Internal ID" value="24982LAB1"/>
        </identifiers>
        <balance>2520199.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2371079.11</valUSD>
        <pctVal>0.3752107599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.91684</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ensemble Health Partners</name>
        <lei>254900PDXJVVI20WAQ37</lei>
        <title>Ensemble Health Partners Term Loan B 300 2033-01-18</title>
        <cusip>29359BAH4</cusip>
        <identifiers>
          <isin value="US29359BAH42"/>
          <ticker value="ENSHLT"/>
          <other otherDesc="Internal ID" value="29359BAH4"/>
        </identifiers>
        <balance>1961702.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1936768.99</valUSD>
        <pctVal>0.3064834747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.65989</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>Entegris Inc</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris Inc COM USD0.01</title>
        <cusip>29362U104</cusip>
        <identifiers>
          <isin value="US29362U1043"/>
          <ticker value="ENTG"/>
          <other otherDesc="SEDOL" value="2599700"/>
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        <balance>6180</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>724543.2</valUSD>
        <pctVal>0.1146551389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EF HOLD/EF KY/ELL KY/TRS</name>
        <lei>5493001B24G0P4YVJ571</lei>
        <title>EF Holdco / EF Cayman Holdco / Ellington Finance REIT Cayman</title>
        <cusip>31574BAA4</cusip>
        <identifiers>
          <isin value="US31574BAA44"/>
          <ticker value="EFC"/>
          <other otherDesc="Internal ID" value="31574BAA4"/>
        </identifiers>
        <balance>3029000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2916857.64</valUSD>
        <pctVal>0.4615773328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.375</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>Flash Compute LLC</name>
        <lei>N/A</lei>
        <title>FLASHC 7.25 12/31/30 144A</title>
        <cusip>33853QAA9</cusip>
        <identifiers>
          <isin value="US33853QAA94"/>
          <ticker value="FLASHC"/>
          <other otherDesc="Internal ID" value="33853QAA9"/>
        </identifiers>
        <balance>3218000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3239853.44</valUSD>
        <pctVal>0.5126897141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</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>Forgent Power Solutions Inc.</name>
        <lei>N/A</lei>
        <title>Forgent Power Solutions Inc. COM SHS CL A</title>
        <cusip>34631F102</cusip>
        <identifiers>
          <isin value="US34631F1021"/>
          <ticker value="FPS"/>
          <other otherDesc="SEDOL" value="BV9C843"/>
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        <balance>71154</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2082677.58</valUSD>
        <pctVal>0.3295727393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LGI Homes Inc</name>
        <lei>549300W02B4WNV8CV109</lei>
        <title>LGIH 4 07/15/29 144A</title>
        <cusip>50187TAF3</cusip>
        <identifiers>
          <isin value="US50187TAF30"/>
          <ticker value="LGIH"/>
          <other otherDesc="Internal ID" value="50187TAF3"/>
        </identifiers>
        <balance>6822000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6076236.02</valUSD>
        <pctVal>0.9615322933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="348426.870000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>LGI Homes Inc</name>
        <lei>549300W02B4WNV8CV109</lei>
        <title>LGIH 7 11/15/32 144A</title>
        <cusip>50187TAK2</cusip>
        <identifiers>
          <isin value="US50187TAK25"/>
          <ticker value="LGIH"/>
          <other otherDesc="Internal ID" value="50187TAK2"/>
        </identifiers>
        <balance>2550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2364429.62</valUSD>
        <pctVal>0.3741585132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7</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>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>LVLT 8.5 01/15/36 144A</title>
        <cusip>527298CQ4</cusip>
        <identifiers>
          <isin value="US527298CQ43"/>
          <ticker value="LVLT"/>
          <other otherDesc="Internal ID" value="527298CQ4"/>
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        <balance>3864000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4031742.85</valUSD>
        <pctVal>0.6380020354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</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>Midcontinent Communications/Midcontinent Communications Finance Corp</name>
        <lei>549300ZI9GDQBS28C408</lei>
        <title>MIDCON 8 08/15/32 144A</title>
        <cusip>59565XAD2</cusip>
        <identifiers>
          <isin value="US59565XAD21"/>
          <ticker value="MIDCON"/>
          <other otherDesc="Internal ID" value="59565XAD2"/>
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        <balance>1356000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1262910.19</valUSD>
        <pctVal>0.1998488747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="946888.020000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Millrose Properties Inc.</name>
        <lei>N/A</lei>
        <title>MRP 6.375 08/01/30 144A</title>
        <cusip>601137AA0</cusip>
        <identifiers>
          <isin value="US601137AA09"/>
          <ticker value="MRP"/>
          <other otherDesc="Internal ID" value="601137AA0"/>
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        <balance>4582000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4580574.54</valUSD>
        <pctVal>0.7248517549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375</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>Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp.</name>
        <lei>N/A</lei>
        <title>RIVENT 6.25 10/15/30 144A</title>
        <cusip>76884GAA3</cusip>
        <identifiers>
          <isin value="US76884GAA31"/>
          <ticker value="RIVENT"/>
          <other otherDesc="Internal ID" value="76884GAA3"/>
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        <balance>4308000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4297127.47</valUSD>
        <pctVal>0.6799977514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</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>SCIH Salt Holdings Inc.</name>
        <lei>N/A</lei>
        <title>MORTON 6.625 05/01/29 144A</title>
        <cusip>78433BAB4</cusip>
        <identifiers>
          <isin value="US78433BAB45"/>
          <ticker value="MORTON"/>
          <other otherDesc="Internal ID" value="78433BAB4"/>
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        <balance>6408000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6375960</valUSD>
        <pctVal>1.0089620318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625</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>LifePoint Health, Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>RGCARE 5.375 01/15/29 144A</title>
        <cusip>53219LAU3</cusip>
        <identifiers>
          <isin value="US53219LAU35"/>
          <ticker value="RGCARE"/>
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        <balance>3112000</balance>
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        <curCd>USD</curCd>
        <valUSD>3001067.16</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LifePoint Health, Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>RGCARE 10 06/01/32 144A</title>
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          <isin value="US53219LAX73"/>
          <ticker value="RGCARE"/>
          <other otherDesc="Internal ID" value="53219LAX7"/>
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        <balance>9748000</balance>
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        <curCd>USD</curCd>
        <valUSD>9954952.28</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>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM 7 08/01/32 144A</title>
        <cusip>78454LAY6</cusip>
        <identifiers>
          <isin value="US78454LAY65"/>
          <ticker value="SM"/>
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        <balance>4664000</balance>
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        <curCd>USD</curCd>
        <valUSD>4762382.42</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</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SV RNO Property Owner 1 LLC</name>
        <lei>N/A</lei>
        <title>TRACTC 5.875 03/01/31 144A</title>
        <cusip>78488XAA2</cusip>
        <identifiers>
          <isin value="US78488XAA28"/>
          <ticker value="TRACTC"/>
          <other otherDesc="Internal ID" value="78488XAA2"/>
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        <balance>4834000</balance>
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        <curCd>USD</curCd>
        <valUSD>4778373.04</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>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
        <lei>529900AS2CYWYFHRS781</lei>
        <title>FUN 7.25 05/15/31 144A</title>
        <cusip>83001AAD4</cusip>
        <identifiers>
          <isin value="US83001AAD46"/>
          <ticker value="FUN"/>
          <other otherDesc="Internal ID" value="83001AAD4"/>
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        <balance>5171000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4978717.4</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>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp/ Canadas Wonderland Company/ Millennium Operations LLC</name>
        <lei>529900AS2CYWYFHRS781</lei>
        <title>FUN 8.625 01/15/32 144A</title>
        <cusip>83003AAA8</cusip>
        <identifiers>
          <isin value="US83003AAA88"/>
          <ticker value="FUN"/>
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        <balance>4218000</balance>
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        <curCd>USD</curCd>
        <valUSD>4224805.07</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.625</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>Standard Building Solutions Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>BMCAUS 5.875 03/15/34 144A</title>
        <cusip>853192AA0</cusip>
        <identifiers>
          <isin value="US853192AA08"/>
          <ticker value="BMCAUS"/>
          <other otherDesc="Internal ID" value="853192AA0"/>
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        <balance>5493000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5296290.73</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Station Casinos LLC</name>
        <lei>5493004E7Q60TX54WL62</lei>
        <title>RRR 4.625 12/01/31 144A</title>
        <cusip>857691AH2</cusip>
        <identifiers>
          <isin value="US857691AH24"/>
          <ticker value="RRR"/>
          <other otherDesc="Internal ID" value="857691AH2"/>
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        <balance>6557000</balance>
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        <curCd>USD</curCd>
        <valUSD>6122205.33</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>StoneX Group Inc</name>
        <lei>549300JUF07L8VF02M60</lei>
        <title>SNEX 7.875 03/01/31 144A</title>
        <cusip>861896AA6</cusip>
        <identifiers>
          <isin value="US861896AA67"/>
          <ticker value="SNEX"/>
          <other otherDesc="Internal ID" value="861896AA6"/>
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        <balance>6402000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6649290.05</valUSD>
        <pctVal>1.0522150702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>7.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>StoneX Escrow Issuer LLC</name>
        <lei>N/A</lei>
        <title>SNEX 6.875 07/15/32 144A</title>
        <cusip>86189AAA7</cusip>
        <identifiers>
          <isin value="US86189AAA79"/>
          <ticker value="SNEX"/>
          <other otherDesc="Internal ID" value="86189AAA7"/>
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        <balance>4069000</balance>
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        <curCd>USD</curCd>
        <valUSD>4112241.26</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
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          <annualizedRt>6.875</annualizedRt>
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      <invstOrSec>
        <name>Lions Gate Television Inc.</name>
        <lei>N/A</lei>
        <title>LGF 6 04/15/30 144a</title>
        <cusip>535939AA0</cusip>
        <identifiers>
          <isin value="US535939AA09"/>
          <ticker value="LGF"/>
          <other otherDesc="Internal ID" value="535939AA0"/>
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        <balance>3079000</balance>
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        <curCd>USD</curCd>
        <valUSD>2824982.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Long Ridge Energy LLC</name>
        <lei>984500764EC9AZ2FC764</lei>
        <title>LONRID 8.75 02/15/32 144A</title>
        <cusip>54288CAA1</cusip>
        <identifiers>
          <isin value="US54288CAA18"/>
          <ticker value="LONRID"/>
          <other otherDesc="Internal ID" value="54288CAA1"/>
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        <balance>3684000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3864932.29</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Long Ridge Energy</name>
        <lei>984500764EC9AZ2FC764</lei>
        <title>Long Ridge Energy Term Loan B 450 2032-01-21</title>
        <cusip>54288BAB1</cusip>
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          <ticker value="LONRID"/>
          <other otherDesc="Internal ID" value="BL4986818"/>
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        <balance>5356470</balance>
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        <curCd>USD</curCd>
        <valUSD>5289514.13</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>FMCN 8 03/01/33 144A</title>
        <cusip>335934AW5</cusip>
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          <isin value="US335934AW52"/>
          <ticker value="FMCN"/>
          <other otherDesc="Internal ID" value="US335934AW52"/>
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        <balance>9172000</balance>
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        <curCd>USD</curCd>
        <valUSD>9560461.72</valUSD>
        <pctVal>1.5128926283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUN V7.875 PERP 144A</title>
        <cusip>86765KAE9</cusip>
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          <other otherDesc="Internal ID" value="86765KAE9"/>
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        <curCd>USD</curCd>
        <valUSD>14575146.15</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUN 5.625 03/15/31 144A</title>
        <cusip>86765KAF6</cusip>
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        <valUSD>3109671.15</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625</annualizedRt>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUN 5.625 07/15/34 144A</title>
        <cusip>86765KAN9</cusip>
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          <ticker value="SUN"/>
          <other otherDesc="Internal ID" value="86765KAN9"/>
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        <balance>9623000</balance>
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        <curCd>USD</curCd>
        <valUSD>9475824.39</valUSD>
        <pctVal>1.4994992174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625</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>SunocoCorp LLC</name>
        <lei>529900W6BS3KGM2OOQ61</lei>
        <title>SunocoCorp LLC COM SHS LLC</title>
        <cusip>86765Q106</cusip>
        <identifiers>
          <isin value="US86765Q1067"/>
          <ticker value="SUNC"/>
          <other otherDesc="SEDOL" value="BWD63P4"/>
        </identifiers>
        <balance>46444</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2863272.6</valUSD>
        <pctVal>0.4530977830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>FMCN 7.25 02/15/34 144A</title>
        <cusip>335934AX3</cusip>
        <identifiers>
          <isin value="US335934AX36"/>
          <ticker value="FMCN"/>
          <other otherDesc="Internal ID" value="US335934AX36"/>
        </identifiers>
        <balance>2817000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2867810.23</valUSD>
        <pctVal>0.4538158390</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</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>Synergy Infrastructure Holdings LLC</name>
        <lei>N/A</lei>
        <title>SYNRGY 7.875 12/01/30 144a</title>
        <cusip>87191JAA2</cusip>
        <identifiers>
          <isin value="US87191JAA25"/>
          <ticker value="SYNRGY"/>
          <other otherDesc="Internal ID" value="87191JAA2"/>
        </identifiers>
        <balance>2847000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2902012.58</valUSD>
        <pctVal>0.4592281804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.875</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>Seagate Data Storage Technology Pte. Ltd.</name>
        <lei>N/A</lei>
        <title>STX 3.125 07/15/29 144a</title>
        <cusip>81180LAL9</cusip>
        <identifiers>
          <isin value="US81180LAL99"/>
          <ticker value="STX"/>
          <other otherDesc="Internal ID" value="US81180LAL99"/>
        </identifiers>
        <balance>3404000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3042767.52</valUSD>
        <pctVal>0.4815019071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125</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>N/A</name>
        <lei>N/A</lei>
        <title>Royal Bank of Canada</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="RBC SL TD"/>
        </identifiers>
        <balance>2958186</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2958186</valUSD>
        <pctVal>0.4681173278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2958186.000000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Henderson Cash Collateral Fund LLC</name>
        <lei>N/A</lei>
        <title>Janus Henderson Cash Collateral Fund LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="896"/>
        </identifiers>
        <balance>11832744</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11832744</valUSD>
        <pctVal>1.8724693110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="11832744.000000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Euro Member Countries Cash Balance</name>
        <lei>N/A</lei>
        <title>Euro Member Countries Cash Balance</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="EUR Cash"/>
        </identifiers>
        <balance>-1412615.27</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>-1412615.27</valUSD>
        <pctVal>-0.2235389138</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign Currencies" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-15</ncom:dateSigned>
      <ncom:nameOfApplicant>JANUS INVESTMENT FUND</ncom:nameOfApplicant>
      <ncom:signature>JESPER NERGAARD</ncom:signature>
      <ncom:signerName>JESPER NERGAARD</ncom:signerName>
      <ncom:title>VP, CFO, TREASURER, AND PRINCIPAL ACCOUNTING OFFICER</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
