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      <invstOrSec>
        <name>Axian Telecom</name>
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      <invstOrSec>
        <name>BBCMS 2019-BWAY Mortgage Trust</name>
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      <invstOrSec>
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        <curCd>USD</curCd>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
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        <balance>145000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128198.180000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust 2019-IMC</name>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
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      <invstOrSec>
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        <name>COMM 2014-CCRE19 Mortgage Trust</name>
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      <invstOrSec>
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        <name>COMM 2017-PANW Mortgage Trust</name>
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        <name>CSC Holdings LLC</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-01</maturityDt>
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      <invstOrSec>
        <name>CSC Holdings LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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      <invstOrSec>
        <name>CSMC 2020-TMIC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Capstone Borrower Inc</name>
        <lei>254900YSP2BAI3YKIX08</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carnival Corp</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
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        <curCd>USD</curCd>
        <valUSD>371950.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>4.0</annualizedRt>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
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        <name>Comstock Resources Inc</name>
        <lei>I03QQGEA4SS774AURI46</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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          <annualizedRt>5.875</annualizedRt>
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        <name>Connect Finco SARL / Connect US Finco LLC</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Connecticut Avenue Securities Trust 2022-R04</name>
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        <name>Consorcio Transmantaro SA</name>
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        <name>GOLDMAN SACHS &amp; CO</name>
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        <name>DISH Network Corp</name>
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        <name>Elara HGV Timeshare Issuer 2023-A LLC</name>
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        <name>Elara HGV Timeshare Issuer 2019-A LLC</name>
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        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
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        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <name>UBS SECURITIES LLC</name>
        <lei>T6FIZBDPKLYJKFCRVK44</lei>
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        <name>Barclays Bank PLC - Wholesale (SING)</name>
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        <name>GOLDMAN SACHS &amp; CO</name>
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      <invstOrSec>
        <name>HPEFS Equipment Trust 2023-2</name>
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        <name>iHeartCommunications Inc</name>
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        <name>State of Illinois</name>
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        <name>Imperial Fund Mortgage Trust 2023-NQM1</name>
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        <name>Barclays Bank PLC - Wholesale (SING)</name>
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        <name>Michigan Tobacco Settlement Finance Authority</name>
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      <invstOrSec>
        <name>CITIBANK N A</name>
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        <valUSD>937.810000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <amtCurSold>-793089.480000</amtCurSold>
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      <invstOrSec>
        <name>Mineral Resources Ltd</name>
        <lei>5299007V1ACKFFX2P066</lei>
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        <curCd>USD</curCd>
        <valUSD>493675.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>NIO Inc</name>
        <lei>549300JBU4TV5OCKJV96</lei>
        <title>NIO INC</title>
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        <curCd>USD</curCd>
        <valUSD>221106.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.875</annualizedRt>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>NIO Inc</name>
        <lei>549300JBU4TV5OCKJV96</lei>
        <title>NIO INC</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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          <annualizedRt>4.625</annualizedRt>
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            <dbtSecRefInstrument>
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              <title>NIO Inc</title>
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            <currencyInfo convRatio="89.9685" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Neptune Bidco US Inc</name>
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        <title>NEPTUNE BIDCO US INC</title>
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          <isin value="US640695AA01"/>
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        <balance>720000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>651600.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.29</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Octane Receivables Trust 2023-1</name>
        <lei>N/A</lei>
        <title>OCTANE RECEIVABLES TRUST 2023-1</title>
        <cusip>67571BAD5</cusip>
        <identifiers>
          <isin value="US67571BAD55"/>
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        <balance>315000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>315510.990000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Octane Receivables Trust 2023-1</name>
        <lei>N/A</lei>
        <title>OCTANE RECEIVABLES TRUST 2023-1</title>
        <cusip>67571BAE3</cusip>
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          <isin value="US67571BAE39"/>
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        <balance>255000.000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</annualizedRt>
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        <name>Octane Receivables Trust 2023-3</name>
        <lei>N/A</lei>
        <title>OCTANE RECEIVABLES TRUST 2023-3</title>
        <cusip>67571CAE1</cusip>
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          <isin value="US67571CAE12"/>
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        <balance>110000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110127.850000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.58</annualizedRt>
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      <invstOrSec>
        <name>Oceanview Mortgage Loan Trust 2020-1</name>
        <lei>N/A</lei>
        <title>OCEANVIEW MORTGAGE LOAN TRUST 2020-1</title>
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          <isin value="US676477AD48"/>
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        <balance>115000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87084.050000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.285</annualizedRt>
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      <invstOrSec>
        <name>Olympic Steel Inc</name>
        <lei>549300GQ061U6N6KWJ49</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Ovintiv Inc</name>
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        <balance>195000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188446.050000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PETROLEOS MEXICANOS</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PDD Holdings Inc</name>
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        <balance>275000.000000</balance>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Port Beaumont Navigation District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential 2023-SFR2 Trust</name>
        <lei>N/A</lei>
        <title>PROGRESS RESIDENTIAL 2023-SFR2 TRUST</title>
        <cusip>74331GAG4</cusip>
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        <balance>820000.000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-17</maturityDt>
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          <annualizedRt>4.5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Progress Residential 2020-SFR3 Trust</name>
        <lei>N/A</lei>
        <title>PROGRESS RESIDENTIAL 2020-SFR3 TRUST</title>
        <cusip>74333AAL4</cusip>
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        <balance>130000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118321.220000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.796</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>COMMONWEALTH OF PUERTO RICO</title>
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        <name>GOLDMAN SACHS &amp; CO</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; COMPANY LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC SECURITIES INC</name>
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      <invstOrSec>
        <name>Mexican Bonos</name>
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        <name>Suriname Government International Bond</name>
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        <name>Kaisa Group Holdings Ltd</name>
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      <invstOrSec>
        <name>Angolan Government International Bond</name>
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        <name>Ivory Coast Government International Bond</name>
        <lei>254900ICW11T82O6H590</lei>
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        <cusip>ZQ0748892</cusip>
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        <invCountry>CI</invCountry>
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        <name>Heimstaden Bostad Treasury BV</name>
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        <name>William Morris Endeavor Entertainment LLC</name>
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        <name>Tacala Investment Corp</name>
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        <issuerCat>CORP</issuerCat>
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        <name>Asurion LLC</name>
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        <invCountry>US</invCountry>
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        <name>Asurion LLC</name>
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        <name>Talen Energy Supply LLC</name>
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        <name>Epicor Software Corp</name>
        <lei>JGNXVGGGXR4O1L5I7S73</lei>
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        <name>Ecuador Government International Bond</name>
        <lei>5299003Y2U5XK0A35H71</lei>
        <title>ECUADOR GOVERNMENT INTERNATIONAL BOND</title>
        <cusip>ZO2094456</cusip>
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        <balance>495000.000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EC</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HTA Group Ltd/Mauritius</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>ICE_MARRIOTT INTERNATIONAL CDS 12/20/2026</title>
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          <other otherDesc="Internal ID" value="MOS488412"/>
        </identifiers>
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        <curCd>USD</curCd>
        <valUSD>-27392.630000</valUSD>
        <pctVal>-0.0599640768</pctVal>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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              <otherRefInst>
                <issuerName>Marriott International Inc/MD</issuerName>
                <issueTitle>MARRIOTT INTERNATIONAL</issueTitle>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-1216.870000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>-26175.760000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ICE_MACY'S INC CDS 06/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS494843"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-123201.210000</valUSD>
        <pctVal>-0.2696946887</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Macy s Retail Holdings LLC</issuerName>
                <issueTitle>MACY S RETAIL HLDGS LLC</issueTitle>
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                  <isin value="US55616XAM92"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2027-06-21</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-162939.190000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1585000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>39737.980000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FedEx Corp</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>ICE_FEDEX CORP CDS 06/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS496171"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4641.400000</valUSD>
        <pctVal>0.0101602974</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FedEx Corp</issuerName>
                <issueTitle>FEDEX CORP</issueTitle>
                <identifiers>
                  <isin value="US31428XBF24"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2027-06-21</terminationDt>
            <upfrontPmnt>2997.490000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>240000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1643.910000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ICE_CDX HY CDSI S37 V3 5Y PRC 12/20/2026</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS533057"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>263864.830000</valUSD>
        <pctVal>0.5776156190</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>MARKIT CDX NA HY</issueTitle>
                <identifiers>
                  <other otherDesc="Internal ID" value="70LD_MOS533057"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2026-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-106695.030000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>7129500.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>370559.860000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apache Corp</name>
        <lei>72ZZ1XRHOOU9P9X16K08</lei>
        <title>ICE_APACHE CORP CDS 06/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS533905"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1554.200000</valUSD>
        <pctVal>-0.0034022351</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Apache Corp</issuerName>
                <issueTitle>APACHE CORP</issueTitle>
                <identifiers>
                  <isin value="US037411BJ37"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
            <terminationDt>2027-06-20</terminationDt>
            <upfrontPmnt>35271.880000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-700000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-36826.080000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ICE_CONOCOPHILLIPS CDS 06/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS534009"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15373.310000</valUSD>
        <pctVal>-0.0336530790</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ConocoPhillips</issuerName>
                <issueTitle>CONOCOPHILLIPS</issueTitle>
                <identifiers>
                  <isin value="US20825CAF14"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
            <terminationDt>2027-06-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-10437.180000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-635000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-4936.130000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Delta Air Lines Inc</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
        <title>ICE_DELTA AIR LINES INC CDS 06/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS546295"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-37346.560000</valUSD>
        <pctVal>-0.0817538145</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Delta Air Lines Inc</issuerName>
                <issueTitle>DELTA AIR LINES INC</issueTitle>
                <identifiers>
                  <isin value="US247361ZZ42"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-06-21</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-6244.420000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-335000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-31102.140000</unrealizedAppr>
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        </derivativeInfo>
        <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>ICE_CDX IG CDSI S39 5Y 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS568175"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10781.260000</valUSD>
        <pctVal>0.0236008117</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>MARKIT CDX NA</issueTitle>
                <identifiers>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>4668.800000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>814000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>6112.460000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ICE_CDX HY CDSI S39 V2 5Y PRC 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>67056.110000</valUSD>
        <pctVal>0.1467897654</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
              <otherRefInst>
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                <issueTitle>MARKIT CDX NA HY</issueTitle>
                <identifiers>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-5230.350000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2645280.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>72286.460000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDX HY CDST S37 V2 5Y 25-35 12/20/2026</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS571250"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-530739.850000</valUSD>
        <pctVal>-1.1618207209</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
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                <issuerName>GOLDMAN SACHS &amp; CO</issuerName>
                <issueTitle>MARKIT CDX NA HY</issueTitle>
                <identifiers>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
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            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-86792.360000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-4850000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-443947.490000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK N A</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>AVIS BUDGET CAR RENTAL CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS571392"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-44907.630000</valUSD>
        <pctVal>-0.0983054411</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                <issuerName>CITIBANK N A</issuerName>
                <issueTitle>AVIS BUDGET CAR/FINANCE</issueTitle>
                <identifiers>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
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            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>18203.650000</upfrontPmnt>
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            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-750000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-63111.280000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK N A</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>AVIS BUDGET GROUP INC CDS 12/20/2027</title>
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        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-17582.660000</valUSD>
        <pctVal>-0.0384894760</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <counterparties>
              <counterpartyName>CITIBANK N A</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Avis Budget Car Rental LLC / Avis Budget Finance Inc</issuerName>
                <issueTitle>AVIS BUDGET CAR/FINANCE 144A</issueTitle>
                <identifiers>
                  <isin value="US053773BG13"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-12371.280000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-325000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-5211.380000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iron Mountain Inc</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>ICE_IRON MOUNTAIN INC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS591059"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-36258.257567</valUSD>
        <pctVal>-0.0793714566</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Iron Mountain Inc</issuerName>
                <issueTitle>IRON MOUNTAIN INC 144A</issueTitle>
                <identifiers>
                  <isin value="US46284VAC54"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-34131.151918</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-282000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-2127.105649</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iron Mountain Inc</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>ICE_IRON MOUNTAIN INC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS591059"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-26100.802433</valUSD>
        <pctVal>-0.0571361904</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Iron Mountain Inc</issuerName>
                <issueTitle>IRON MOUNTAIN INC 144A</issueTitle>
                <identifiers>
                  <isin value="US46284VAC54"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-24569.588082</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-203000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1531.214351</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>POST HOLDINGS INC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS591146"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4066.380000</valUSD>
        <pctVal>-0.0089015448</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS &amp; CO</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Post Holdings Inc</issuerName>
                <issueTitle>POST HOLDINGS INC 144A</issueTitle>
                <identifiers>
                  <isin value="US737446AM60"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-2872.180000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-31000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1194.200000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Axle &amp; Manufacturing Inc</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>ICE_AMERICAN AXLE &amp; MANUFAC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS593418"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-18350.510000</valUSD>
        <pctVal>-0.0401703448</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>American Axle &amp; Manufacturing Inc</issuerName>
                <issueTitle>AMERICAN AXLE &amp; MFG INC</issueTitle>
                <identifiers>
                  <isin value="US02406PAY60"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-3746.580000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-1050000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-14603.930000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Murphy Oil Corp</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
        <title>ICE_MURPHY OIL CORP CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS594549"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10826.560000</valUSD>
        <pctVal>0.0236999761</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
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              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Murphy Oil Corp</issuerName>
                <issueTitle>MURPHY OIL CORPORATION</issueTitle>
                <identifiers>
                  <isin value="US626717AA04"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>48674.990000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-745000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-37848.430000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>POST HOLDINGS INC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS595153"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2623.460000</valUSD>
        <pctVal>-0.0057429081</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS &amp; CO</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Post Holdings Inc</issuerName>
                <issueTitle>POST HOLDINGS INC 144A</issueTitle>
                <identifiers>
                  <isin value="US737446AM60"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-2221.680000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-20000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-401.780000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>POST HOLDINGS INC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS610191"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7214.540000</valUSD>
        <pctVal>-0.0157930520</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Post Holdings Inc</issuerName>
                <issueTitle>POST HOLDINGS INC 144A</issueTitle>
                <identifiers>
                  <isin value="US737446AM60"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-6112.740000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-55000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1101.800000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>POST HOLDINGS INC CDS 12/20/2027</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS611680"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7214.540000</valUSD>
        <pctVal>-0.0157930520</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <counterparties>
              <counterpartyName>GOLDMAN SACHS &amp; CO</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
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                <issueTitle>POST HOLDINGS INC 144A</issueTitle>
                <identifiers>
                  <isin value="US737446AM60"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5"/>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-6446.050000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-55000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-768.490000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CME - USD SOFR IRS 2/8/33 PAY FIX</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS633943"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>58321.180000</valUSD>
        <pctVal>0.1276684903</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
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            <descRefInstrmnt>
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                <issuerName>N/A</issuerName>
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                <identifiers>
                  <other otherDesc="Internal ID" value="70LD_MOS633943"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="USD-SOFR-COMPOUND" floatingRtSpread="0" pmntAmt="0.000000">
              <rtResetTenors>
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            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.35"/>
            <terminationDt>2033-02-08</terminationDt>
            <upfrontPmnt>250.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-705000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>58071.180000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>N/A</name>
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      </invstOrSec>
      <invstOrSec>
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        <derivativeInfo>
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            <swapFlag>Y</swapFlag>
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            <curCd>EUR</curCd>
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      <invstOrSec>
        <name>JP MORGAN CHASE BANK</name>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
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        <derivativeInfo>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <derivativeInfo>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; COMPANY LLC</name>
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      <invstOrSec>
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        <derivativeInfo>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <derivativeInfo>
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      <invstOrSec>
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        <derivativeInfo>
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      <invstOrSec>
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      <invstOrSec>
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        <derivativeInfo>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>N/A</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US ULTRA BOND CBT DEC23</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="WNZ3"/>
        </identifiers>
        <balance>-5.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>43718.250000</valUSD>
        <pctVal>0.0957018184</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States Treasury Note/Bond</issuerName>
                <issueTitle>US TREASURY N/B</issueTitle>
                <identifiers>
                  <isin value="US912810SF66"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2023-12-19</expDate>
            <notionalAmt>-637155.750000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>43718.250000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Benteler International AG</name>
        <lei>529900ZAFSOBVFCKF263</lei>
        <title>BENTELER INTERNATIONAL AG</title>
        <cusip>ZK3495981</cusip>
        <identifiers>
          <isin value="XS2619048965"/>
        </identifiers>
        <balance>260000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94585"/>
        <valUSD>279527.810000</valUSD>
        <pctVal>0.6119028027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.375</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>GTCR W-2 Merger Sub LLC / GTCR W Dutch Finance Sub BV</name>
        <lei>894500GLVOTVRGS68C28</lei>
        <title>GTCR W-2 MERGER SUB LLC / GTCR W DUTCH FINANCE SUB BV</title>
        <cusip>ZI9728059</cusip>
        <identifiers>
          <isin value="XS2696112601"/>
        </identifiers>
        <balance>155000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.819605"/>
        <valUSD>192436.370000</valUSD>
        <pctVal>0.4212545226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</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>ICE_ITRX XOVER CDSI S39 5Y 06/20/2028</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="MOS662583"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94585"/>
        <valUSD>101980.660000</valUSD>
        <pctVal>0.2232416577</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; COMPANY LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>ITRAXX EUROPE XOVER</issueTitle>
                <identifiers>
                  <other otherDesc="Internal ID" value="70LD_MOS662583"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0" curCd="EUR" fixedOrFloating="Fixed" fixedRt="5"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2028-06-20</terminationDt>
            <upfrontPmnt>54482.890000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1837168.420000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>47497.770000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <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"/>
      <explntrNote note="The inception date of Class Z  in T. Rowe Price Dynamic Credit Fund (C000244818) is 09.13.2023. The performance return for class Z in 09.30.2023 is for a partial month." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>T. ROWE PRICE INTERNATIONAL FUNDS, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Alan Dupski</ncom:signature>
      <ncom:signerName>Alan Dupski</ncom:signerName>
      <ncom:title>Treasurer &amp; Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
