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      <regLei>549300PYEMTLTOE2MK86</regLei>
      <regStreet1>One Franklin Parkway</regStreet1>
      <regCity>San Mateo</regCity>
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      <seriesName>Franklin Income Fund</seriesName>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 4.125% 02/17/2026</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 4.125% 02/17/2026</title>
        <cusip>00206RCT7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="625101"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108088762.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINT COMMUNICATIONS INC 6.5% 02/03/2024 2018 Incremental Term Loans</name>
        <lei>549300JKU50UT08ZWD77</lei>
        <title>SPRINT COMMUNICATIONS INC 6.5% 02/03/2024 2018 Incremental Term Loans</title>
        <cusip>85208EAD2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="945664"/>
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        <balance>99250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99187174.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINT COMMUNICATIONS INC 6.00% 11/15/2022</name>
        <lei>549300JKU50UT08ZWD77</lei>
        <title>SPRINT COMMUNICATIONS INC 6.00% 11/15/2022</title>
        <cusip>852061AS9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="535619"/>
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        <balance>367700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391600500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FERRELLGAS LP/FINANCE CORP 6.75% 01/15/2022</name>
        <lei>N/A</lei>
        <title>FERRELLGAS LP/FINANCE CORP 6.75% 01/15/2022</title>
        <cusip>315292AP7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599565"/>
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        <balance>92500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78740625.00000000</valUSD>
        <pctVal>0.105645277596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Syngenta Finance NV 5.182% 04/24/2028 144A</name>
        <lei>54930042S3BYCEGOCN86</lei>
        <title>Syngenta Finance NV 5.182% 04/24/2028 144A</title>
        <cusip>87164KAC8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="870666"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53063125.00000000</valUSD>
        <pctVal>0.071194108133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.18200000</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>SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025 144A</name>
        <lei>N/A</lei>
        <title>SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025 144A</title>
        <cusip>82088KAD0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599495"/>
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        <balance>100500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103515000.00000000</valUSD>
        <pctVal>0.138884735933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>PROCTER &amp; GAMBLE CO STRIKE 110 EXPIRES 11/15/19 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="PG 11 P110"/>
          <other otherDesc="Internal Identifier" value="1007179"/>
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        <balance>-20000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1200000.00000000</valUSD>
        <pctVal>-0.00161002447</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Citigroup Global Markets Ltd</counterpartyName>
              <counterpartyLei>XKZZ2JZF41MRHTR1V493</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>PROCTER &amp; GAMBLE CO STRIKE 110 EXPIRES 11/15/19 PUTS</issuerName>
                <issueTitle>PROCTER &amp; GAMBLE CO STRIKE 110 EXPIRES 11/15/19 PUTS</issueTitle>
                <identifiers>
                  <cusip value="742718109"/>
                  <isin value="US7427181091"/>
                  <ticker value="PG 11 P110"/>
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            <shareNo>200.00000000</shareNo>
            <exercisePrice>110.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1348403.69000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE WILLIAMS COS INC 4.55% 06/24/2024</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>THE WILLIAMS COS INC 4.55% 06/24/2024</title>
        <cusip>969457BW9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="605748"/>
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        <balance>46858000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50483891.25000000</valUSD>
        <pctVal>0.067733583588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</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>VERIZON COMMUNICATIONS INC COM USD1</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC COM USD1</title>
        <cusip>92343V104</cusip>
        <identifiers>
          <ticker value="VZ"/>
          <other otherDesc="Internal Identifier" value="22610"/>
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        <balance>10000200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>603612072.00000000</valUSD>
        <pctVal>0.809858505781</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>
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      </invstOrSec>
      <invstOrSec>
        <name>NEM 8.0% ELN Issued by UBS AG, London Branch 8.0% ELN 12/18/2019</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>NEM 8.0% ELN Issued by UBS AG, London Branch 8.0% ELN 12/18/2019</title>
        <cusip>90269A567</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="989521"/>
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        <balance>7266000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>270692860.91000000</valUSD>
        <pctVal>0.363185108501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CEMEX SAB DE CV 5.70% 01/11/2025 144A</name>
        <lei>549300RIG2CXWN6IV731</lei>
        <title>CEMEX SAB DE CV 5.70% 01/11/2025 144A</title>
        <cusip>151290BM4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="585621"/>
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        <balance>70000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72108750.00000000</valUSD>
        <pctVal>0.096747376730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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>WEATHERFORD INTERNATIONAL LTD/BERMUDA 7.75% 06/15/2021 *DEFAULT*</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>WEATHERFORD INTERNATIONAL LTD/BERMUDA 7.75% 06/15/2021 *DEFAULT*</title>
        <cusip>947075AJ6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="637029"/>
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        <balance>605829000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219613012.50000000</valUSD>
        <pctVal>0.294651936904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>Y</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>Barclays PLC 4.61% 02/15/2023 *FIXED TO FLOAT*</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC 4.61% 02/15/2023 *FIXED TO FLOAT*</title>
        <cusip>06738EBE4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="942199"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51909500.00000000</valUSD>
        <pctVal>0.069646304399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.61000000</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>CCO HOLDINGS LLC/CAPITAL CORP 5.75% 01/15/2024</name>
        <lei>N/A</lei>
        <title>CCO HOLDINGS LLC/CAPITAL CORP 5.75% 01/15/2024</title>
        <cusip>1248EPBE2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="547895"/>
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        <balance>105000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107625000.00000000</valUSD>
        <pctVal>0.144399069746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENDO DAC / ENDO FINANCE LLC / ENDO FINCO INC 6.00% 02/01/2025 144A</name>
        <lei>N/A</lei>
        <title>ENDO DAC / ENDO FINANCE LLC / ENDO FINCO INC 6.00% 02/01/2025 144A</title>
        <cusip>29273EAA6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="596013"/>
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        <balance>82900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49118250.00000000</valUSD>
        <pctVal>0.065901320395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON COM USD1</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON COM USD1</title>
        <cusip>478160104</cusip>
        <identifiers>
          <ticker value="JNJ"/>
          <other otherDesc="Internal Identifier" value="726"/>
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        <balance>4000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>517520000.00000000</valUSD>
        <pctVal>0.694349886879</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>JPMORGAN CHASE &amp; CO 6.75% 08/01/2167  PERP</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 6.75% 08/01/2167  PERP</title>
        <cusip>46625HJQ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="568600"/>
        </identifiers>
        <balance>100000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111071500.00000000</valUSD>
        <pctVal>0.149023194196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINT CORP 7.625% 03/01/2026</name>
        <lei>549300ZTTY7CXOLJ6539</lei>
        <title>SPRINT CORP 7.625% 03/01/2026</title>
        <cusip>85207UAK1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="685189"/>
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        <balance>96300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106531875.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brazos Valley Longhorn LLC / Brazos Valley Longhorn Finance Corp 6.875% 02/01/2025</name>
        <lei>N/A</lei>
        <title>Brazos Valley Longhorn LLC / Brazos Valley Longhorn Finance Corp 6.875% 02/01/2025</title>
        <cusip>96812TAB8</cusip>
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          <other otherDesc="Internal Identifier" value="875819"/>
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        <curCd>USD</curCd>
        <valUSD>79967017.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>3M CO COM USD.01</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M CO COM USD.01</title>
        <cusip>88579Y101</cusip>
        <identifiers>
          <ticker value="MMM"/>
          <other otherDesc="Internal Identifier" value="833"/>
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        <balance>3930000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>646092000.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DuPont de Nemours Inc 4.493% 11/15/2025</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc 4.493% 11/15/2025</title>
        <cusip>26078JAC4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="942812"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55271404.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.49300000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMUNICATIONS INC 3.50% 11/01/2024</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC 3.50% 11/01/2024</title>
        <cusip>92343VCR3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="614319"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52910460.00000000</valUSD>
        <pctVal>0.070989279478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMZN 9% ELN ISSUED BY CITIGROUP GLOBAL MARKETS H 9.00% ELN 11/06/2019</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>AMZN 9% ELN ISSUED BY CITIGROUP GLOBAL MARKETS H 9.00% ELN 11/06/2019</title>
        <cusip>17326X116</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="940474"/>
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        <balance>277000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490423697.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HighPoint Operating Corp 8.75% 06/15/2025</name>
        <lei>XE2KCQGOGYZ847CKN141</lei>
        <title>HighPoint Operating Corp 8.75% 06/15/2025</title>
        <cusip>06846NAF1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="670769"/>
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        <balance>175845000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158260500.00000000</valUSD>
        <pctVal>0.212336064833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Note/Bond 6.125% 11/15/2027</name>
        <lei>N/A</lei>
        <title>United States Treasury Note/Bond 6.125% 11/15/2027</title>
        <cusip>912810FB9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="50100"/>
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        <balance>300000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402316407.00000000</valUSD>
        <pctVal>0.539782716977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMY 8.50% ELN ISSUED BY CREDIT SUISSE AG, LONDON 8.50% ELN 5/1/2020</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BMY 8.50% ELN ISSUED BY CREDIT SUISSE AG, LONDON 8.50% ELN 5/1/2020</title>
        <cusip>22550T203</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="977529"/>
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        <balance>5405000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>262768598.99000000</valUSD>
        <pctVal>0.352553228830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GENERAL MOTORS CO STRIKE 42 EXPIRES 12/20/19 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="GM 12 C42"/>
          <other otherDesc="Internal Identifier" value="1011677"/>
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        <balance>-40000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1440000.00000000</valUSD>
        <pctVal>-0.00193202936</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>MERRILL LYNCH INTERNATIONAL</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
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            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>GENERAL MOTORS CO STRIKE 42 EXPIRES 12/20/19 CALLS</issuerName>
                <issueTitle>GENERAL MOTORS CO STRIKE 42 EXPIRES 12/20/19 CALLS</issueTitle>
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                  <isin value="US37045V1008"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MOTORS LIQUIDATION CO ESCROW ACCOUNT USD NPV REF SM # 280615</name>
        <lei>N/A</lei>
        <title>MOTORS LIQUIDATION CO ESCROW ACCOUNT USD NPV REF SM # 280615</title>
        <cusip>370ESC717</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="492869"/>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sempra Energy 3.4% 02/01/2028</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra Energy 3.4% 02/01/2028</title>
        <cusip>816851BG3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="871465"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51704869.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC 3.336% 03/18/2021</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT CO LLC 3.336% 03/18/2021</title>
        <cusip>345397XW8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="629521"/>
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        <balance>48000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48236501.28000000</valUSD>
        <pctVal>0.064718289548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.33600000</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>
      <invstOrSec>
        <name>BARCLAYS PLC 4.375% 01/12/2026</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC 4.375% 01/12/2026</title>
        <cusip>06738EAN5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="623686"/>
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        <balance>125000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132360625.00000000</valUSD>
        <pctVal>0.177586537710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.125% 09/15/2020 *DEFAULT*</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.125% 09/15/2020 *DEFAULT*</title>
        <cusip>94707VAA8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="617409"/>
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        <balance>131343000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45970050.00000000</valUSD>
        <pctVal>0.061677421195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>Y</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>ADI 7.00% ELN ISSUED BY BARCLAYS BANK PLC 7.00% ELN 2/06/2020</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>ADI 7.00% ELN ISSUED BY BARCLAYS BANK PLC 7.00% ELN 2/06/2020</title>
        <cusip>06746Y820</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="957745"/>
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        <balance>2635000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>277326353.56000000</valUSD>
        <pctVal>0.372085179747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>S&amp;P 500 INDEX STRIKE 2700 EXPIRES 12/18/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SPX 12 P2700"/>
          <other otherDesc="Internal Identifier" value="689075"/>
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        <balance>5000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>69250000.00000000</valUSD>
        <pctVal>0.092911828849</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>JP MORGAN SECURITIESPLC</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-52260189.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 7.25% 05/30/2029 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 7.25% 05/30/2029 144A</title>
        <cusip>071734AF4</cusip>
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        <valUSD>43792000.00000000</valUSD>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Mauser Packaging Solutions Holding Co 5.50% 04/15/2024 144A</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co 5.50% 04/15/2024 144A</title>
        <cusip>12429TAD6</cusip>
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          <other otherDesc="Internal Identifier" value="662818"/>
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        <curCd>USD</curCd>
        <valUSD>77610000.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC 5.75% 08/15/2024</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRON MOUNTAIN INC 5.75% 08/15/2024</title>
        <cusip>46284PAP9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="532079"/>
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        <balance>129254000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130869675.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Note/Bond 2.75% 08/15/2021</name>
        <lei>N/A</lei>
        <title>United States Treasury Note/Bond 2.75% 08/15/2021</title>
        <cusip>9128284W7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="920639"/>
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        <balance>350000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>356904296.00000000</valUSD>
        <pctVal>0.478853875317</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNIVISION COMMUNICATIONS INC 6.50% 03/15/2024 TERM LOAN</name>
        <lei>549300YQDE2JSGTL8V47</lei>
        <title>UNIVISION COMMUNICATIONS INC 6.50% 03/15/2024 TERM LOAN</title>
        <cusip>914908AX6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686559"/>
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        <balance>62809205.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61149221.31000000</valUSD>
        <pctVal>0.082043118912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chesapeake Energy Corp 8.00% 06/15/2027</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp 8.00% 06/15/2027</title>
        <cusip>165167CZ8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="874084"/>
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        <balance>200000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135500000.00000000</valUSD>
        <pctVal>0.181798596522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>Syngenta Finance NV 4.441% 04/24/2023 144A</name>
        <lei>54930042S3BYCEGOCN86</lei>
        <title>Syngenta Finance NV 4.441% 04/24/2023 144A</title>
        <cusip>87164KAH7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="877362"/>
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        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26121625.00000000</valUSD>
        <pctVal>0.035047046227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.44100000</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>Netflix Inc 6.375% 05/15/2029 144A</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix Inc 6.375% 05/15/2029 144A</title>
        <cusip>64110LAR7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="940274"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44200000.00000000</valUSD>
        <pctVal>0.059302568016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.625% 01/15/2022</name>
        <lei>N/A</lei>
        <title>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.625% 01/15/2022</title>
        <cusip>131477AL5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="566789"/>
        </identifiers>
        <balance>161165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156330050.00000000</valUSD>
        <pctVal>0.209746005049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>HCA INC 7.50% 02/15/2022</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 7.50% 02/15/2022</title>
        <cusip>404121AD7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="499652"/>
        </identifiers>
        <balance>70000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77756000.00000000</valUSD>
        <pctVal>0.104324218975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>MICROCHIP TECHNOLOGY INC 4.333% 06/01/2023</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>MICROCHIP TECHNOLOGY INC 4.333% 06/01/2023</title>
        <cusip>595017AP9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="987864"/>
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        <balance>69000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72514336.29000000</valUSD>
        <pctVal>0.097291546607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.33300000</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>PHILIP MORRIS INTERNATIONAL INC COM USD NPV</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL INC COM USD NPV</title>
        <cusip>718172109</cusip>
        <identifiers>
          <ticker value="PM"/>
          <other otherDesc="Internal Identifier" value="415725"/>
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        <balance>2501700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>189954081.00000000</valUSD>
        <pctVal>0.254858932320</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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      <invstOrSec>
        <name>AT&amp;T INC 3.00% 06/30/2022</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.00% 06/30/2022</title>
        <cusip>00206RCM2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="602584"/>
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        <balance>100000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102153870.00000000</valUSD>
        <pctVal>0.137058525426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTC 8.00% ELN ISSUED BY WELLS FARGO BANK NA 8.00% ELN 10/23/2019</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>INTC 8.00% ELN ISSUED BY WELLS FARGO BANK NA 8.00% ELN 10/23/2019</title>
        <cusip>94980V454</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="934975"/>
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        <balance>5200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>270458136.00000000</valUSD>
        <pctVal>0.362870181127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mauser Packaging Solutions Holding Co 7.25% 04/15/2025 144A</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co 7.25% 04/15/2025 144A</title>
        <cusip>12429TAE4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="662819"/>
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        <balance>189500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179844975.00000000</valUSD>
        <pctVal>0.241295675620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>JPMORGAN CHASE &amp; CO 5.00% 01/01/2168 PERP *FORMERLY FIXED*</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 5.00% 01/01/2168 PERP *FORMERLY FIXED*</title>
        <cusip>48127FAA1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="577971"/>
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        <balance>200000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200250000.00000000</valUSD>
        <pctVal>0.268672833605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.41863000</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>FANNIE MAE 4% 06/01/2049 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 06/01/2049 FNL</title>
        <cusip>31418DCZ3</cusip>
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          <other otherDesc="Internal Identifier" value="980859"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMZN 9% ELN Issued by JPMORGAN CHASE 9.00% ELN 01/22/2020</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO 7.90% 10/30/2167 *FORMERLY FIXED*</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 7.90% 10/30/2167 *FORMERLY FIXED*</title>
        <cusip>46625HHA1</cusip>
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          <other otherDesc="Internal Identifier" value="417771"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>FORD MOTOR CO 4.346% 12/08/2026</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO 4.346% 12/08/2026</title>
        <cusip>345370CR9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="654910"/>
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        <balance>140000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140336784.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>F 10.00% ELN ISSUED BY CITIGROUP GLOBAL MARKET 10.00% ELN 02/06/2020</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>F 10.00% ELN ISSUED BY CITIGROUP GLOBAL MARKET 10.00% ELN 02/06/2020</title>
        <cusip>17327P518</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="999264"/>
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        <curCd>USD</curCd>
        <valUSD>461757747.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BASF SE ORD EUR NPV***REGISTERED SHARES***</name>
        <lei>529900PM64WH8AF1E917</lei>
        <title>BASF SE ORD EUR NPV***REGISTERED SHARES***</title>
        <cusip>000000000</cusip>
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          <isin value="DE000BASF111"/>
          <other otherDesc="Internal Identifier" value="54436"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>BAT Capital Corp 3.222% 08/15/2024</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp 3.222% 08/15/2024</title>
        <cusip>05526DAZ8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="946368"/>
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        <balance>88500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89629967.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAYER CAPITAL CORP BV 5.625% 11/22/2019 CNV 144A</name>
        <lei>529900KEOKKPYZLTAU90</lei>
        <title>BAYER CAPITAL CORP BV 5.625% 11/22/2019 CNV 144A</title>
        <cusip>N10680AP6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="653285"/>
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        <balance>150000000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>BAYER CAPITAL CORP BV 5.625% 11/22/2019 CNV 144A</name>
              <title>BAYER CAPITAL CORP BV 5.625% 11/22/2019 CNV 144A</title>
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      <invstOrSec>
        <name>HALLIBURTON CO COM USD2.5</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>HALLIBURTON CO COM USD2.5</title>
        <cusip>406216101</cusip>
        <identifiers>
          <ticker value="HAL"/>
          <other otherDesc="Internal Identifier" value="628"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>282750000.00000000</valUSD>
        <pctVal>0.379362015989</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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      <invstOrSec>
        <name>Bausch Health Cos Inc 5.50% 11/01/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.50% 11/01/2025 144A</title>
        <cusip>91911KAN2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675974"/>
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        <balance>91000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95559100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TREASURY NOTE/BOND 6.125% 08/15/2029</name>
        <lei>N/A</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 6.125% 08/15/2029</title>
        <cusip>912810FJ2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="177452"/>
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        <balance>100000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>140398438.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC 2.876% 10/31/2022 FIXED TO FLOAT</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC 2.876% 10/31/2022 FIXED TO FLOAT</title>
        <cusip>38148YAC2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="677417"/>
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        <balance>125000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126477995.00000000</valUSD>
        <pctVal>0.169693889165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-10-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.87600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>HANESBRANDS INC 4.875% 05/15/2026 144A</name>
        <lei>GX5LWVWZLL5S4W1L2F20</lei>
        <title>HANESBRANDS INC 4.875% 05/15/2026 144A</title>
        <cusip>410345AL6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="633411"/>
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        <balance>54000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57321000.00000000</valUSD>
        <pctVal>0.076906843920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>TXN 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9% ELN 07/06/2020</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>TXN 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9% ELN 07/06/2020</title>
        <cusip>48128D719</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="993504"/>
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        <balance>2236000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>274478080.40000000</valUSD>
        <pctVal>0.368263688507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>FMG RESOURCES AUGUST 2006 PTY LTD 4.75% 05/15/2022 144A</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>FMG RESOURCES AUGUST 2006 PTY LTD 4.75% 05/15/2022 144A</title>
        <cusip>30251GAU1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="665771"/>
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        <balance>40200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41355750.00000000</valUSD>
        <pctVal>0.055486474598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OCCIDENTAL PETROLEUM CORP COM USD.2</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>OCCIDENTAL PETROLEUM CORP COM USD.2</title>
        <cusip>674599105</cusip>
        <identifiers>
          <ticker value="OXY"/>
          <other otherDesc="Internal Identifier" value="18979"/>
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        <balance>17500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>778225000.00000000</valUSD>
        <pctVal>1.044134411649</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>
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      </invstOrSec>
      <invstOrSec>
        <name>DELL INTERNATIONAL LLC / EMC CORP 5.45% 06/15/2023 144A</name>
        <lei>N/A</lei>
        <title>DELL INTERNATIONAL LLC / EMC CORP 5.45% 06/15/2023 144A</title>
        <cusip>25272KAG8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="634361"/>
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        <balance>60000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65374467.00000000</valUSD>
        <pctVal>0.087712076376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</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>EQUINIX INC 5.375% 05/15/2027</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>EQUINIX INC 5.375% 05/15/2027</title>
        <cusip>29444UAR7</cusip>
        <identifiers>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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        <name>NETFLIX INC 4.375% 11/15/2026</name>
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        <name>MERCK &amp; CO INC COM USD.05</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF AMERICA CORP 6.10% 9/17/2167 PERP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHEVRON CORP COM USD.75</name>
        <lei>N/A</lei>
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          <ticker value="CVX"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HOST HOTELS &amp; RESORTS INC REIT USD.01</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TC Energy Corp ORD NPV</name>
        <lei>549300UGKOFV2IWJJG27</lei>
        <title>TC Energy Corp ORD NPV</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023 144A</name>
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        <name>Tenet Healthcare Corp 6.25% 02/01/2027 144A</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp 6.25% 02/01/2027 144A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SPRINT COMMUNICATIONS INC 11.50% 11/15/2021</name>
        <lei>549300JKU50UT08ZWD77</lei>
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        <cusip>852061AM2</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FREEPORT-MCMORAN INC 3.875% 03/15/2023</name>
        <lei>549300IRDTHJQ1PVET45</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp 05/01/2025</name>
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        <name>CITIGROUP INC 5.875% 9/27/2167 PERP</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 4.875% 04/15/2020 144A</name>
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        <title>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 4.875% 04/15/2020 144A</title>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CEMEX SAB DE CV 7.75% 04/16/2026 144A</name>
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        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Bausch Health Cos Inc 9.00% 12/15/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 9.00% 12/15/2025 144A</title>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BARCLAYS PLC 3.65% 03/16/2025</name>
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        <name>CHS/COMMUNITY HEALTH SYSTEMS INC 6.875% 02/01/2022</name>
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        <name>JPMorgan Chase &amp; Co PRF USD 6.00% SER EE *JPM C*</name>
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        <name>Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc 4.9% 02/01/2046</name>
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          <other otherDesc="Internal Identifier" value="971696"/>
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        <name>United States Treasury Note/Bond 2.5% 02/28/2021</name>
        <lei>N/A</lei>
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        <name>Credit Suisse AG/Nassau ZERO 02/08/2021 S&amp;p 500 INDEX</name>
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        <title>Credit Suisse AG/Nassau ZERO 02/08/2021 S&amp;p 500 INDEX</title>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>JPM 7.0% ELN Issued by Societe Generale 7.00% ELN 10/15/2019</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>JPM 7.0% ELN Issued by Societe Generale 7.00% ELN 10/15/2019</title>
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          <other otherDesc="Internal Identifier" value="935275"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>WELLS FARGO &amp; CO STRIKE 55 EXPIRES 12/20/19 CALLS</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOEING CO STRIKE 340 EXPIRES 10/18/19 PUTS</title>
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        <name>CCO HOLDINGS LLC/CAPITAL CORP 5.50% 05/01/2026 144A</name>
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        <name>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.75% 04/15/2023</name>
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        <cusip>131477AQ4</cusip>
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      <invstOrSec>
        <name>Chesapeake Energy Corp 7% 10/01/2024</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp 7% 10/01/2024</title>
        <cusip>165167DA2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="939653"/>
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        <name>DISH DBS CORP 5.875% 11/15/2024</name>
        <lei>N/A</lei>
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        <identifiers>
          <other otherDesc="Internal Identifier" value="594958"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FMG RESOURCES AUGUST 2006 PTY LTD 5.125% 03/15/2023 144A</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>FMG RESOURCES AUGUST 2006 PTY LTD 5.125% 03/15/2023 144A</title>
        <cusip>30251GAY3</cusip>
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          <other otherDesc="Internal Identifier" value="685852"/>
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        <balance>25000000.00000000</balance>
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        <valUSD>25843750.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC 3.272% 09/29/2025 FIXED TO FLOAT</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC 3.272% 09/29/2025 FIXED TO FLOAT</title>
        <cusip>38141GWQ3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675579"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-29</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>OXY 9% ELN Issued by Wells Fargo Bank, N.A. 9% ELN 2/25/2020</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>OXY 9% ELN Issued by Wells Fargo Bank, N.A. 9% ELN 2/25/2020</title>
        <cusip>94980V397</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="962853"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="CVX 12 C130"/>
          <other otherDesc="Internal Identifier" value="1000486"/>
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        <balance>-10000.00000000</balance>
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        <valUSD>-580000.00000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Credit Suisse Securities (Europe) Ltd.</counterpartyName>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 6.125% 04/15/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 6.125% 04/15/2025 144A</title>
        <cusip>91831AAC5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599700"/>
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        <balance>122400000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>JPMORGAN CHASE &amp; CO 6.125% 10/30/2167 PERP</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 6.125% 10/30/2167 PERP</title>
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          <other otherDesc="Internal Identifier" value="572321"/>
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        <name>FORD MOTOR CREDIT CO LLC 4.134% 08/04/2025</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT CO LLC 4.134% 08/04/2025</title>
        <cusip>345397XL2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="611750"/>
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        <balance>145000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>143597035.10000000</valUSD>
        <pctVal>0.192662283733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.13400000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>XCEL ENERGY INC COM USD2.5</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>XCEL ENERGY INC COM USD2.5</title>
        <cusip>98389B100</cusip>
        <identifiers>
          <ticker value="XEL"/>
          <other otherDesc="Internal Identifier" value="911"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>292005000.00000000</valUSD>
        <pctVal>0.391779329722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 INDEX STRIKE 3000 EXPIRES 09/18/20 PUTS</title>
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        <identifiers>
          <ticker value="SPX 9 P3000"/>
          <other otherDesc="Internal Identifier" value="1010642"/>
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        <balance>10000.00000000</balance>
        <units>NC</units>
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        <valUSD>201400000.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Credit Suisse Securities (Europe) Ltd.</counterpartyName>
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                  <cusip value="783786106"/>
                  <ticker value="SPX 9 P3000"/>
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            <shareNo>200.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>12929619.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>COCA-COLA CO COM USD0.25</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO COM USD0.25</title>
        <cusip>191216100</cusip>
        <identifiers>
          <ticker value="KO"/>
          <other otherDesc="Internal Identifier" value="3082"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Bausch health Cos inc 6.50% 03/15/2022 144A</name>
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        <name>United States Treasury Note/Bond 2.25% 03/31/2020</name>
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        <name>JPMORGAN CHASE &amp; CO 5.15% 11/1/2167 PERP</name>
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        <name>TENET HEALTHCARE CORP 8.125% 04/01/2022</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
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        <name>Valaris PLC 5.75% 10/01/2044</name>
        <lei>7N0UJMJLXD0MDT5D5086</lei>
        <title>Valaris PLC 5.75% 10/01/2044</title>
        <cusip>91889DAF3</cusip>
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          <other otherDesc="Internal Identifier" value="588303"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>XPO LOGISTICS INC 6.50% 06/15/2022 144A</name>
        <lei>54930096DB9LCLPN7H13</lei>
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        <cusip>983793AD2</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Barclays PLC FRN 05/07/2025 *FIXED TO FLOAT*</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC 3.50% 11/16/2026</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <cusip>38145GAH3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="652834"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>GILEAD SCIENCES INC COM USD0.001</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC COM USD0.001</title>
        <cusip>375558103</cusip>
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          <ticker value="GILD"/>
          <other otherDesc="Internal Identifier" value="29819"/>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>WEATHERFORD INTERNATIONAL LTD/BERMUDA 9.875% 02/15/2024 *DEFAULT*</name>
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        <title>WEATHERFORD INTERNATIONAL LTD/BERMUDA 9.875% 02/15/2024 *DEFAULT*</title>
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          <other otherDesc="Internal Identifier" value="676885"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>UNITED STATES TREASURY NOTE/BOND 2.375% 03/15/2021</name>
        <lei>N/A</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 2.375% 03/15/2021</title>
        <cusip>9128284B3</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED TECHNOLOGIES CORP 4.50% 06/01/2042</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>UNITED TECHNOLOGIES CORP 4.50% 06/01/2042</title>
        <cusip>913017BT5</cusip>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALPINE CORP 5.375% 01/15/2023</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
        <title>CALPINE CORP 5.375% 01/15/2023</title>
        <cusip>131347CE4</cusip>
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        <valUSD>304500000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>TXN 7.0% ELN Issued by Goldman Sachs International 7.0% ELN 10/4/2019</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>TXN 7.0% ELN Issued by Goldman Sachs International 7.0% ELN 10/4/2019</title>
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          <isin value="XS1269126766"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bausch Health Americas Inc 8.5% 01/31/2027 144A</name>
        <lei>KOO0397YRO83WY5MGD97</lei>
        <title>Bausch Health Americas Inc 8.5% 01/31/2027 144A</title>
        <cusip>91911XAW4</cusip>
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          <other otherDesc="Internal Identifier" value="875016"/>
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        <curCd>USD</curCd>
        <valUSD>56240000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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        <name>CMCSA 7.0% ELN Issued by Morgan Stanley BV 7.00% ELN 3/20/2020</name>
        <lei>KG1FTTDCK4KNVM3OHB52</lei>
        <title>CMCSA 7.0% ELN Issued by Morgan Stanley BV 7.00% ELN 3/20/2020</title>
        <cusip>61765M629</cusip>
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          <other otherDesc="Internal Identifier" value="967913"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MSFT 6.5% ELN Issued by Goldman Sachs International (Series L) 6.50% ELN 3/12/2020</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>MSFT 6.5% ELN Issued by Goldman Sachs International (Series L) 6.50% ELN 3/12/2020</title>
        <cusip>000000000</cusip>
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          <isin value="XS1269131337"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>POST HOLDINGS INC 5.00% 08/15/2026 144A</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>POST HOLDINGS INC 5.00% 08/15/2026 144A</title>
        <cusip>737446AK0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="641320"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>DUKE ENERGY CORP COM USD.001</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP COM USD.001</title>
        <cusip>26441C204</cusip>
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          <ticker value="DUK"/>
          <other otherDesc="Internal Identifier" value="358486"/>
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        <curCd>USD</curCd>
        <valUSD>718950000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CCO HOLDINGS LLC/CAPITAL CORP 5.125% 02/15/2023</name>
        <lei>N/A</lei>
        <title>CCO HOLDINGS LLC/CAPITAL CORP 5.125% 02/15/2023</title>
        <cusip>1248EPAZ6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="537983"/>
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        <balance>105000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106968750.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cigna Corp 3.75% 07/15/2023</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp 3.75% 07/15/2023</title>
        <cusip>125523AF7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1004080"/>
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        <balance>60000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62801632.20000000</valUSD>
        <pctVal>0.084260137219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEMPRA ENERGY 6.00% CNV PFD *SER A*</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY 6.00% CNV PFD *SER A*</title>
        <cusip>816851406</cusip>
        <identifiers>
          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="682147"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47280000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DAVITA INC 5.125% 07/15/2024</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DAVITA INC 5.125% 07/15/2024</title>
        <cusip>23918KAQ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="578488"/>
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        <curCd>USD</curCd>
        <valUSD>194275625.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ALLERGAN FUNDING SCS 3.80% 03/15/2025</name>
        <lei>222100FLFVOSKCBCAR54</lei>
        <title>ALLERGAN FUNDING SCS 3.80% 03/15/2025</title>
        <cusip>00507UAS0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="598677"/>
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        <valUSD>104641700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WYNN LAS VEGAS LLC/CAPITAL CORP 4.25% 05/30/2023 144A</name>
        <lei>N/A</lei>
        <title>WYNN LAS VEGAS LLC/CAPITAL CORP 4.25% 05/30/2023 144A</title>
        <cusip>983130AU9</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 7.00% 03/15/2024 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 7.00% 03/15/2024 144A</title>
        <cusip>91911KAK8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="661871"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>GOOGL 7% ELN ISSUED BY GOLDMAN SACHS INTERNATIONAL 7% ELN 1/21/2020</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>GOOGL 7% ELN ISSUED BY GOLDMAN SACHS INTERNATIONAL 7% ELN 1/21/2020</title>
        <cusip>000000000</cusip>
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          <isin value="XS1269129869"/>
          <other otherDesc="Internal Identifier" value="954058"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CVS HEALTH CORP 5.05% 03/25/2048</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.05% 03/25/2048</title>
        <cusip>126650CZ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686102"/>
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        <curCd>USD</curCd>
        <valUSD>85426875.75000000</valUSD>
        <pctVal>0.114616133701</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="SPX 12 P2450"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>MERRILL LYNCH INTERNATIONAL</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS 9.5% ELN ISSUED BY WELLS FARGO BANK NA 9.50% ELN 5/04/2020</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>CVS 9.5% ELN ISSUED BY WELLS FARGO BANK NA 9.50% ELN 5/04/2020</title>
        <cusip>94980V363</cusip>
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          <other otherDesc="Internal Identifier" value="977402"/>
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        <curCd>USD</curCd>
        <valUSD>280289992.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIO TINTO PLC SPONSORED ADR</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>RIO TINTO PLC SPONSORED ADR</title>
        <cusip>767204100</cusip>
        <identifiers>
          <ticker value="RIO"/>
          <other otherDesc="Internal Identifier" value="15985"/>
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        <balance>5800000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>302122000.00000000</valUSD>
        <pctVal>0.405353177700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMMERCIAL BARGE LINE CO 10.62688% 11/12/2020 INITIAL TERM LOAN</name>
        <lei>N/A</lei>
        <title>COMMERCIAL BARGE LINE CO 10.62688% 11/12/2020 INITIAL TERM LOAN</title>
        <cusip>20162VAG8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="616904"/>
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        <balance>0.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20269343.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-11-12</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 5.50% 03/01/2023 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.50% 03/01/2023 144A</title>
        <cusip>91911KAE2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="595784"/>
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        <balance>70526000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71672047.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp 3.95% 10/15/2025</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp 3.95% 10/15/2025</title>
        <cusip>20030NCS8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="934692"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54481472.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Par Pharmaceutical Inc 7.50% 04/01/2027 144A</name>
        <lei>549300KK5WR4MGN4YT97</lei>
        <title>Par Pharmaceutical Inc 7.50% 04/01/2027 144A</title>
        <cusip>69888XAA7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="970237"/>
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        <balance>90000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82125000.00000000</valUSD>
        <pctVal>0.110186049737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025 144A</name>
        <lei>549300YQDE2JSGTL8V47</lei>
        <title>UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025 144A</title>
        <cusip>914906AS1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="597350"/>
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        <balance>160020000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156219525.00000000</valUSD>
        <pctVal>0.209597715087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>General Motors Financial Co Inc 4.15% 06/19/2023</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co Inc 4.15% 06/19/2023</title>
        <cusip>37045XCL8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="877890"/>
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        <balance>75000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78040433.25000000</valUSD>
        <pctVal>0.104705839386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</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>United States Treasury Note/Bond 2.75% 05/31/2023</name>
        <lei>N/A</lei>
        <title>United States Treasury Note/Bond 2.75% 05/31/2023</title>
        <cusip>9128284S6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="874945"/>
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        <balance>500000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520869140.00000000</valUSD>
        <pctVal>0.698843384676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LRCX 9.00% ELN ISSUED BY MORGAN STANLEY BV 9.00% ELN 11/14/2019</name>
        <lei>KG1FTTDCK4KNVM3OHB52</lei>
        <title>LRCX 9.00% ELN ISSUED BY MORGAN STANLEY BV 9.00% ELN 11/14/2019</title>
        <cusip>61765M579</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="941639"/>
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        <balance>1530000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>282413549.07000000</valUSD>
        <pctVal>0.378910604131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHS/COMMUNITY HEALTH SYSTEMS INC 8.00% 11/15/2019</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/COMMUNITY HEALTH SYSTEMS INC 8.00% 11/15/2019</title>
        <cusip>12543DAL4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="519689"/>
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        <balance>19819000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19831386.88000000</valUSD>
        <pctVal>0.026607515142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERIZON COMMUNICATIONS INC 2.625% 08/15/2026</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC 2.625% 08/15/2026</title>
        <cusip>92343VDD3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="641550"/>
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        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25345888.75000000</valUSD>
        <pctVal>0.034006250939</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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        <name>RIO 10.0% ELN Issued by Credit Suisse AG, London Branch 10.0% ELN 10/2/2019</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>RIO 10.0% ELN Issued by Credit Suisse AG, London Branch 10.0% ELN 10/2/2019</title>
        <cusip>22550T161</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="971698"/>
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        <balance>5180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277218194.68000000</valUSD>
        <pctVal>0.371940064378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH DBS CORP 5.00% 03/15/2023</name>
        <lei>N/A</lei>
        <title>DISH DBS CORP 5.00% 03/15/2023</title>
        <cusip>25470XAL9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="547328"/>
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        <balance>300000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304215000.00000000</valUSD>
        <pctVal>0.408161328715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOMINION ENERGY INC COM USD NPV</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC COM USD NPV</title>
        <cusip>25746U109</cusip>
        <identifiers>
          <ticker value="D"/>
          <other otherDesc="Internal Identifier" value="182154"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1215600000.00000000</valUSD>
        <pctVal>1.630954789168</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>
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      </invstOrSec>
      <invstOrSec>
        <name>FERRELLGAS LP/FINANCE CORP 6.50% 05/01/2021</name>
        <lei>N/A</lei>
        <title>FERRELLGAS LP/FINANCE CORP 6.50% 05/01/2021</title>
        <cusip>315292AM4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="522661"/>
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        <balance>39295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33597225.00000000</valUSD>
        <pctVal>0.045076962007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>WEATHERFORD INTERNATIONAL LTD 6.5% 07/03/2020 DIP Term Loan</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CVS HEALTH CORP 4.10% 03/25/2025</name>
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        <name>AMNEAL HOLDINGS LLC 6.50% 03/23/2024 Initial Term Loans</name>
        <lei>N/A</lei>
        <title>AMNEAL HOLDINGS LLC 6.50% 03/23/2024 Initial Term Loans</title>
        <cusip>03167DAH7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="687410"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES TREASURY NOTE/BOND 7.50% 11/15/2024</name>
        <lei>N/A</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 7.50% 11/15/2024</title>
        <cusip>912810ES3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="64005"/>
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        <balance>350000000.00000000</balance>
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        <valUSD>452156250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</title>
        <cusip>744320BF8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="931147"/>
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        <curCd>USD</curCd>
        <valUSD>110992000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>POST HOLDINGS INC 5.625% 01/15/2028 144A</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>POST HOLDINGS INC 5.625% 01/15/2028 144A</title>
        <cusip>737446AN4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="679666"/>
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        <balance>65000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69143750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LTD 3.40% 12/06/2027</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING LTD 3.40% 12/06/2027</title>
        <cusip>01609WAT9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="679826"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52000250.00000000</valUSD>
        <pctVal>0.069768062500</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO 6.10% 04/01/2167 PERP</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 6.10% 04/01/2167 PERP</title>
        <cusip>48126HAC4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="587792"/>
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        <balance>80000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86793200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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      <invstOrSec>
        <name>KINDER MORGAN INC 7.75% 01/15/2032</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KINDER MORGAN INC 7.75% 01/15/2032</title>
        <cusip>28368EAE6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="226790"/>
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        <balance>118000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162597886.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Diamond Sports Group LLC / Diamond Sports Finance Co 6.625% 08/15/2027 144A</name>
        <lei>N/A</lei>
        <title>Diamond Sports Group LLC / Diamond Sports Finance Co 6.625% 08/15/2027 144A</title>
        <cusip>25277LAC0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="998602"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51927500.00000000</valUSD>
        <pctVal>0.069670454766</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>ENDO DAC / ENDO FINANCE LLC / ENDO FINCO INC 6.00% 07/15/2023 144A</name>
        <lei>N/A</lei>
        <title>ENDO DAC / ENDO FINANCE LLC / ENDO FINCO INC 6.00% 07/15/2023 144A</title>
        <cusip>29273EAC2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="607357"/>
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        <balance>162025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100188158.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</name>
        <lei>N/A</lei>
        <title>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</title>
        <cusip>131477AT8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1013071"/>
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        <balance>285000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>285712500.00000000</valUSD>
        <pctVal>0.383336763902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chesapeake Energy Corp 8.00% 03/15/2026 144A</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp 8.00% 03/15/2026 144A</title>
        <cusip>165167DC8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="973339"/>
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        <balance>650000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>448500000.00000000</valUSD>
        <pctVal>0.601746646052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <name>CCO HOLDINGS LLC/CAPITAL CORP 5.125% 05/01/2027 144A</name>
        <lei>N/A</lei>
        <title>CCO HOLDINGS LLC/CAPITAL CORP 5.125% 05/01/2027 144A</title>
        <cusip>1248EPBT9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="658135"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52312500.00000000</valUSD>
        <pctVal>0.070187004284</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED RENTALS NORTH AMERICA INC 4.875% 01/15/2028</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>UNITED RENTALS NORTH AMERICA INC 4.875% 01/15/2028</title>
        <cusip>911365BG8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="683466"/>
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        <balance>116000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121075000.00000000</valUSD>
        <pctVal>0.162444760693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CALPINE CORP 5.50% 02/01/2024</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
        <title>CALPINE CORP 5.50% 02/01/2024</title>
        <cusip>131347CJ3</cusip>
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          <other otherDesc="Internal Identifier" value="596617"/>
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        <balance>186500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189064375.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NETFLIX INC 4.875% 04/15/2028</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC 4.875% 04/15/2028</title>
        <cusip>64110LAS5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="942368"/>
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        <balance>84300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85981785.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHS/Community Health Systems Inc STEP 06/30/2023 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc STEP 06/30/2023 144A</title>
        <cusip>12543DAZ3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="878321"/>
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        <balance>1425000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1218375000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTERNATIONAL PAPER CO 3.00% 02/15/2027</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>INTERNATIONAL PAPER CO 3.00% 02/15/2027</title>
        <cusip>460146CP6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="642024"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50929818.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <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>BRISTOL-MYERS SQUIBB CO COM USD0.1</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIBB CO COM USD0.1</title>
        <cusip>110122108</cusip>
        <identifiers>
          <ticker value="BMY"/>
          <other otherDesc="Internal Identifier" value="8104"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>608520000.00000000</valUSD>
        <pctVal>0.816443409266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC Holdings PLC 4.292 09/12/2026 *FIXED TO FLOAT*</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC 4.292 09/12/2026 *FIXED TO FLOAT*</title>
        <cusip>404280BX6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="927901"/>
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        <curCd>USD</curCd>
        <valUSD>134219375.00000000</valUSD>
        <pctVal>0.180080398531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-12</maturityDt>
          <couponKind>Variable</couponKind>
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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>GOVT NATL MORTG ASSN 3.5% 09/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 3.5% 09/20/2049 SF2</title>
        <cusip>36179UZT2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1009873"/>
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        <balance>161650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167800350.89000000</valUSD>
        <pctVal>0.225135559318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CEMEX FINANCE LLC 6.00% 04/01/2024 144A</name>
        <lei>529900USOXVC2TX3H980</lei>
        <title>CEMEX FINANCE LLC 6.00% 04/01/2024 144A</title>
        <cusip>12516UAD7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="573279"/>
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        <balance>88400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91037414.00000000</valUSD>
        <pctVal>0.122143720267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC 3.50% 05/15/2023</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 3.50% 05/15/2023</title>
        <cusip>172967GT2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="549911"/>
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        <balance>45000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46664237.70000000</valUSD>
        <pctVal>0.062608803849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>SECURUS TECHNOLOGIES HOLDINGS INC 10.12688% 11/01/2025 SECOND LIEN INITIAL LOAN</name>
        <lei>549300EBCNNXVCJ2FW66</lei>
        <title>SECURUS TECHNOLOGIES HOLDINGS INC 10.12688% 11/01/2025 SECOND LIEN INITIAL LOAN</title>
        <cusip>78410QAE2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="668594"/>
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        <balance>26000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23026250.00000000</valUSD>
        <pctVal>0.030894021646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.57988000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>24 HOUR FITNESS WORLDWIDE INC 6.50% 05/30/2025 Term Loan</name>
        <lei>N/A</lei>
        <title>24 HOUR FITNESS WORLDWIDE INC 6.50% 05/30/2025 Term Loan</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Sec ID" value="875621"/>
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        <balance>96924812.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93734337.99000000</valUSD>
        <pctVal>0.125762148284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.61200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.875% 07/01/2021 CNV *DEFAULT*</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.875% 07/01/2021 CNV *DEFAULT*</title>
        <cusip>947075AH0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="636090"/>
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        <balance>505000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178012500.00000000</valUSD>
        <pctVal>0.238837067626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.875% 07/01/2021 CNV *DEFAULT*</name>
              <title>WEATHERFORD INTERNATIONAL LTD/BERMUDA 5.875% 07/01/2021 CNV *DEFAULT*</title>
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                <cusip value="N/A"/>
                <isin value="N/A"/>
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      <invstOrSec>
        <name>SCHLUMBERGER LTD ORD USD0.01</name>
        <lei>213800ZUA17OK3QLGM62</lei>
        <title>SCHLUMBERGER LTD ORD USD0.01</title>
        <cusip>806857108</cusip>
        <identifiers>
          <ticker value="SLB"/>
          <other otherDesc="Internal Identifier" value="1110"/>
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        <curCd>USD</curCd>
        <valUSD>483606984.90000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HANESBRANDS INC 4.625% 05/15/2024 144A</name>
        <lei>GX5LWVWZLL5S4W1L2F20</lei>
        <title>HANESBRANDS INC 4.625% 05/15/2024 144A</title>
        <cusip>410345AJ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="633410"/>
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        <balance>38000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40232880.00000000</valUSD>
        <pctVal>0.053979934450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC 4.875% 09/15/2027 144A</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRON MOUNTAIN INC 4.875% 09/15/2027 144A</title>
        <cusip>46284VAC5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686400"/>
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        <balance>135610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139363684.80000000</valUSD>
        <pctVal>0.186982452419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vistra Energy Corp 5.875% 06/01/2023</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>Vistra Energy Corp 5.875% 06/01/2023</title>
        <cusip>26817RAB4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="572770"/>
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        <balance>100000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102525000.00000000</valUSD>
        <pctVal>0.137556465744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP 4.20% 10/29/2025</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP 4.20% 10/29/2025</title>
        <cusip>14040HBJ3</cusip>
        <identifiers>
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      <invstOrSec>
        <name>INTERNATIONAL BUSINESS MACHINES CORP COM USD.2</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Ford Motor Credit Co LLC 5.113% 05/03/2029</name>
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        <name>Mauser Packaging Solutions Holding Co 6.5% 04/03/2024 Term Loan B</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co 6.5% 04/03/2024 Term Loan B</title>
        <cusip>05604XAP1</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CMI 8.0% ELN Issued by Credit Suisse AG, London Branch 8% ELN 07/10/20</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CMI 8.0% ELN Issued by Credit Suisse AG, London Branch 8% ELN 07/10/20</title>
        <cusip>22550T252</cusip>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co 4.25% 10/26/2049 144A</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co 4.25% 10/26/2049 144A</title>
        <cusip>110122CD8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="980833"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIGROUP INC 5.35% 11/15/2167 PERP</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 5.35% 11/15/2167 PERP</title>
        <cusip>172967GR6</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>N/A</maturityDt>
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      <invstOrSec>
        <name>Fortive Corp 5% CNV PFD A *FTVVP*</name>
        <lei>549300MU9YQJYHDQEF63</lei>
        <title>Fortive Corp 5% CNV PFD A *FTVVP*</title>
        <cusip>34959J207</cusip>
        <identifiers>
          <ticker value="FTV"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>US 10YR NOTE (CBT)Dec19 Dec 19 Future</title>
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          <ticker value="TYZ9"/>
          <other otherDesc="Internal Identifier" value="986831"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>15273437.50000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>JPMORGAN CHASE BANK NA</counterpartyName>
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                <issuerName>US 10YR NOTE (CBT)Dec19 Dec 19 Future</issuerName>
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      <invstOrSec>
        <name>UNITED TECHNOLOGIES CORP 3.125% 05/04/2027</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>UNITED TECHNOLOGIES CORP 3.125% 05/04/2027</title>
        <cusip>913017CR8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="669404"/>
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        <balance>40000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42020251.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <name>BANK OF AMERICA CORP 6.25% 03/05/2168 PERP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <cusip>060505EH3</cusip>
        <identifiers>
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        <balance>85000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOLDEN NUGGET INC 6.75% 10/15/2024 144A</name>
        <lei>N/A</lei>
        <title>GOLDEN NUGGET INC 6.75% 10/15/2024 144A</title>
        <cusip>38113YAE9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675849"/>
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        <balance>60000000.00000000</balance>
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        <valUSD>61650000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CITIGROUP INC 4.125% 07/25/2028</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 4.125% 07/25/2028</title>
        <cusip>172967KU4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="640849"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NCR CORP 6.375% 12/15/2023</name>
        <lei>549300YKTY8JX1DV2R67</lei>
        <title>NCR CORP 6.375% 12/15/2023</title>
        <cusip>62886EAS7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="580706"/>
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        <curCd>USD</curCd>
        <valUSD>36050000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Sempra Energy 6.75% CNV PFD B</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra Energy 6.75% CNV PFD B</title>
        <cusip>816851505</cusip>
        <identifiers>
          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="913818"/>
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        <curCd>USD</curCd>
        <valUSD>86950740.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTERNATIONAL PAPER CO 4.40% 08/15/2047</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>INTERNATIONAL PAPER CO 4.40% 08/15/2047</title>
        <cusip>460146CQ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="642025"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41670478.40000000</valUSD>
        <pctVal>0.055908741620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>Allison Transmission Inc 5.875% 06/01/2029 144A</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission Inc 5.875% 06/01/2029 144A</title>
        <cusip>019736AF4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="971857"/>
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        <balance>45000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48937500.00000000</valUSD>
        <pctVal>0.065658810459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Corteva Inc COM USD 0.01</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>Corteva Inc COM USD 0.01</title>
        <cusip>22052L104</cusip>
        <identifiers>
          <ticker value="CTVA"/>
          <other otherDesc="Internal Identifier" value="986705"/>
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        <balance>1172674.00000000</balance>
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        <curCd>USD</curCd>
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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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINT CORP 7.875% 09/15/2023</name>
        <lei>549300ZTTY7CXOLJ6539</lei>
        <title>SPRINT CORP 7.875% 09/15/2023</title>
        <cusip>85207UAF2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="590243"/>
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        <balance>187350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206264856.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 5.875% 05/01/2023</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.875% 05/01/2023</title>
        <cusip>404121AG0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="533524"/>
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        <curCd>USD</curCd>
        <valUSD>121275000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS CO COM USD.01</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO COM USD.01</title>
        <cusip>37045V100</cusip>
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          <ticker value="GM"/>
          <other otherDesc="Internal Identifier" value="481710"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>307336000.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 6.5% 11/27/2025 First Incremental Term Loans</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 6.5% 11/27/2025 First Incremental Term Loans</title>
        <cusip>C9413PBB8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="943422"/>
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        <balance>43750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43886718.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-27</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>24 HOUR FITNESS WORLDWIDE INC 8.00% 06/01/2022 144A</name>
        <lei>N/A</lei>
        <title>24 HOUR FITNESS WORLDWIDE INC 8.00% 06/01/2022 144A</title>
        <cusip>90132BAA5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="577004"/>
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        <balance>162959000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MYLAN NV ORD USD.01</name>
        <lei>549300A0CD4KNFGIIS89</lei>
        <title>MYLAN NV ORD USD.01</title>
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          <ticker value="MYL"/>
          <other otherDesc="Internal Identifier" value="598398"/>
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        <curCd>USD</curCd>
        <valUSD>47887380.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CVS HEALTH CORP COM USD1</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP COM USD1</title>
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          <ticker value="CVS"/>
          <other otherDesc="Internal Identifier" value="811"/>
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        <curCd>USD</curCd>
        <valUSD>473025000.00000000</valUSD>
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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>ABBVIE INC 3.20% 05/14/2026</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC 3.20% 05/14/2026</title>
        <cusip>00287YAY5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="634046"/>
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        <curCd>USD</curCd>
        <valUSD>35668408.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNILEVER PLC ORD GBP.0311</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>UNILEVER PLC ORD GBP.0311</title>
        <cusip>G92087165</cusip>
        <identifiers>
          <ticker value="ULVR"/>
          <other otherDesc="Internal Identifier" value="3019"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.81343800"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>GLOBAL EAGLE ENTERTAINMENT INC 10.02025% 01/06/2023 Initial Term Loans</name>
        <lei>5493000LLKPEGV8XVG26</lei>
        <title>GLOBAL EAGLE ENTERTAINMENT INC 10.02025% 01/06/2023 Initial Term Loans</title>
        <cusip>37955UAB6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="656336"/>
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        <balance>101471014.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94410153.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-06</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BANK OF AMERICA CORP COM USD.01</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP COM USD.01</title>
        <cusip>060505104</cusip>
        <identifiers>
          <ticker value="BAC"/>
          <other otherDesc="Internal Identifier" value="19138"/>
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        <balance>10740000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>313285800.00000000</valUSD>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEATHERFORD INTERNATIONAL LTD/BERMUDA 4.50% 04/15/2022 *DEFAULT*</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>WEATHERFORD INTERNATIONAL LTD/BERMUDA 4.50% 04/15/2022 *DEFAULT*</title>
        <cusip>94707VAC4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="517904"/>
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        <balance>185250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64374375.00000000</valUSD>
        <pctVal>0.086370265881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corp 4.30% 03/25/2028</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp 4.30% 03/25/2028</title>
        <cusip>126650CX6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686103"/>
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        <balance>125000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>135314582.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BAT Capital Corp 3.557% 08/15/2027</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp 3.557% 08/15/2027</title>
        <cusip>05526DBB0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="946359"/>
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        <balance>170000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171094239.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HighPoint Operating Corp 7.00% 10/15/2022</name>
        <lei>XE2KCQGOGYZ847CKN141</lei>
        <title>HighPoint Operating Corp 7.00% 10/15/2022</title>
        <cusip>06846NAD6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="515944"/>
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        <balance>205783000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187262530.00000000</valUSD>
        <pctVal>0.251247713174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO COM USD1</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO COM USD1</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <ticker value="JPM"/>
          <other otherDesc="Internal Identifier" value="344"/>
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        <balance>6108000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>718850520.00000000</valUSD>
        <pctVal>0.964472440186</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>
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      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC ORD GBP.25</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC ORD GBP.25</title>
        <cusip>G0593M107</cusip>
        <identifiers>
          <ticker value="AZN"/>
          <other otherDesc="Internal Identifier" value="34472"/>
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        <balance>7500000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81343800"/>
        <valUSD>669500515.67000000</valUSD>
        <pctVal>0.898260178004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dell International LLC / EMC Corp 4.9% 10/01/2026 144A</name>
        <lei>N/A</lei>
        <title>Dell International LLC / EMC Corp 4.9% 10/01/2026 144A</title>
        <cusip>24703DAZ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="966807"/>
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        <balance>65000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69687258.55000000</valUSD>
        <pctVal>0.093498492987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</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>Diamond Sports Group LLC / Diamond Sports Finance Co 5.375% 08/15/2026 144A</name>
        <lei>N/A</lei>
        <title>Diamond Sports Group LLC / Diamond Sports Finance Co 5.375% 08/15/2026 144A</title>
        <cusip>25277LAA4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="998600"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41600000.00000000</valUSD>
        <pctVal>0.055814181662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHESAPEAKE ENERGY CORP 5.75% CNV PFD</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>CHESAPEAKE ENERGY CORP 5.75% CNV PFD</title>
        <cusip>165167768</cusip>
        <identifiers>
          <ticker value="CHK"/>
          <other otherDesc="Internal Identifier" value="542422"/>
        </identifiers>
        <balance>112980.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44721438.53000000</valUSD>
        <pctVal>0.060002175344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <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>Broadcom Inc STRIKE 250 EXPIRES 11/15/19 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="AVGO 11 P250"/>
          <other otherDesc="Internal Identifier" value="1012543"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3420000.00000000</valUSD>
        <pctVal>-0.00458856974</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Susquehanna International Group</counterpartyName>
              <counterpartyLei>549300E8QX0ZMRDC2M81</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Broadcom Inc STRIKE 250 EXPIRES 11/15/19 PUTS</issuerName>
                <issueTitle>Broadcom Inc STRIKE 250 EXPIRES 11/15/19 PUTS</issueTitle>
                <identifiers>
                  <cusip value="11135F101"/>
                  <isin value="US11135F1012"/>
                  <ticker value="AVGO 11 P250"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>250.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1114724.70000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TREASURY NOTE/BOND 1.875% 12/31/2019</name>
        <lei>N/A</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 1.875% 12/31/2019</title>
        <cusip>9128283N8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="681411"/>
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        <balance>750000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>749926755.00000000</valUSD>
        <pctVal>1.006167022534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</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>TENET HEALTHCARE CORP 6.875% 11/15/2031</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>TENET HEALTHCARE CORP 6.875% 11/15/2031</title>
        <cusip>88033GAV2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="242447"/>
        </identifiers>
        <balance>48840000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44688600.00000000</valUSD>
        <pctVal>0.059958116313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALPHABET INC COM USD.001 CL A</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC COM USD.001 CL A</title>
        <cusip>02079K305</cusip>
        <identifiers>
          <ticker value="GOOGL"/>
          <other otherDesc="Internal Identifier" value="614214"/>
        </identifiers>
        <balance>24100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29429474.00000000</valUSD>
        <pctVal>0.039485144424</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>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GILEAD SCIENCES INC STRIKE 62.5 EXPIRES 11/15/19 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="GILD 11 P62.5"/>
          <other otherDesc="Internal Identifier" value="1009847"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1850000.00000000</valUSD>
        <pctVal>-0.00248212105</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>WELLS FARGO SECURITIES LLC</counterpartyName>
              <counterpartyLei>VYVVCKR63DVZZN70PB21</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GILEAD SCIENCES INC STRIKE 62.5 EXPIRES 11/15/19 PUTS</issuerName>
                <issueTitle>GILEAD SCIENCES INC STRIKE 62.5 EXPIRES 11/15/19 PUTS</issueTitle>
                <identifiers>
                  <cusip value="375558103"/>
                  <isin value="US3755581036"/>
                  <ticker value="GILD 11 P62.5"/>
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            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>62.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-777912.42000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC 2.375% 11/16/2020</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC 2.375% 11/16/2020</title>
        <cusip>046353AK4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="630191"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25082125.00000000</valUSD>
        <pctVal>0.033652362529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</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>FORD MOTOR CREDIT CO LLC 4.389% 01/08/2026</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT CO LLC 4.389% 01/08/2026</title>
        <cusip>345397XU2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="623346"/>
        </identifiers>
        <balance>16365000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16302055.79000000</valUSD>
        <pctVal>0.021872257291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.38900000</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>CVS 8.5% ELN ISSUED BY CREDIT SUISSE AG, LONDON BRANCH 8.50% ELN 8/24/2020</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CVS 8.5% ELN ISSUED BY CREDIT SUISSE AG, LONDON BRANCH 8.50% ELN 8/24/2020</title>
        <cusip>22550T286</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1001204"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>244399500.00000000</valUSD>
        <pctVal>0.327907646425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PFIZER INC COM USD.05</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC COM USD.05</title>
        <cusip>717081103</cusip>
        <identifiers>
          <ticker value="PFE"/>
          <other otherDesc="Internal Identifier" value="971"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>538950000.00000000</valUSD>
        <pctVal>0.723102240557</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>ANALOG DEVICES INC COM USD.167</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>ANALOG DEVICES INC COM USD.167</title>
        <cusip>032654105</cusip>
        <identifiers>
          <ticker value="ADI"/>
          <other otherDesc="Internal Identifier" value="30788"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111730000.00000000</valUSD>
        <pctVal>0.149906695124</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>
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      <invstOrSec>
        <name>Southern Co/The 6.75% CNV PFD 2019 *SOUEU*</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The 6.75% CNV PFD 2019 *SOUEU*</title>
        <cusip>842587602</cusip>
        <identifiers>
          <ticker value="SO"/>
          <other otherDesc="Internal Identifier" value="1003211"/>
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        <balance>1600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>85616000.00000000</valUSD>
        <pctVal>0.114869879260</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>
      <invstOrSec>
        <name>United Rentals North America Inc 6.50% 12/15/2026</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America Inc 6.50% 12/15/2026</title>
        <cusip>911365BK9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="940479"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43730000.00000000</valUSD>
        <pctVal>0.058671975098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>UNITED STATES TREASURY NOTE/BOND 6.875% 08/15/2025</name>
        <lei>N/A</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 6.875% 08/15/2025</title>
        <cusip>912810EV6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="117076"/>
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        <balance>400000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518203124.00000000</valUSD>
        <pctVal>0.695266425509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023 144A</name>
        <lei>N/A</lei>
        <title>SHEA HOMES LP / SHEA HOMES FUNDING CORP 5.875% 04/01/2023 144A</title>
        <cusip>82088KAC2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599494"/>
        </identifiers>
        <balance>100975000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103751812.50000000</valUSD>
        <pctVal>0.139202464200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANHEUSER-BUSCH INBEV SA/NV SPONSORED ADR</name>
        <lei>5493008H3828EMEXB082</lei>
        <title>ANHEUSER-BUSCH INBEV SA/NV SPONSORED ADR</title>
        <cusip>03524A108</cusip>
        <identifiers>
          <ticker value="BUD"/>
          <other otherDesc="Internal Identifier" value="460326"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>237875000.00000000</valUSD>
        <pctVal>0.319153809208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
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      <invstOrSec>
        <name>CHS/COMMUNITY HEALTH SYSTEMS INC 6.25% 03/31/2023</name>
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      <invstOrSec>
        <name>CITIGROUP INC 5.90% 8/15/2168 PERP</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co 3.4% 07/26/2029 144A</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
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        <cusip>110122CB2</cusip>
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          <other otherDesc="Internal Identifier" value="980688"/>
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        <curCd>USD</curCd>
        <valUSD>64208191.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LYB INTERNATIONAL FINANCE II BV 3.50% 03/02/2027</name>
        <lei>549300ZSNDBYN4Z4VZ93</lei>
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        <cusip>50247WAB3</cusip>
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          <other otherDesc="Internal Identifier" value="660673"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MET 7.5% ELN Issued by Citigroup Global Markets Holdings Inc 7.5% ELN 3/11/2020</name>
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        <cusip>17326W548</cusip>
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          <other otherDesc="Internal Identifier" value="965843"/>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FMG RESOURCES AUGUST 2006 PTY LTD 5.125% 05/15/2024 144A</name>
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        <cusip>30251GAW7</cusip>
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          <other otherDesc="Internal Identifier" value="665770"/>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>ASTRAZENECA PLC 2.375% 06/12/2022</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
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        <cusip>046353AQ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="673591"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TEXAS INSTRUMENTS INC COM USD1</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS INC COM USD1</title>
        <cusip>882508104</cusip>
        <identifiers>
          <ticker value="TXN"/>
          <other otherDesc="Internal Identifier" value="5041"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>CVS HEALTH CORP STRIKE 67.5 EXPIRES 11/15/19 CALLS</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BROADCOM CORP/CAYMAN FINANCE LTD 3.50% 01/15/2028</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Tenet Healthcare Corp 4.625% 07/15/2024</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp 4.625% 07/15/2024</title>
        <cusip>88033GCS7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="920334"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-15</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ANALOG DEVICES INC STRIKE 100 EXPIRES 12/20/19 PUTS</title>
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          <ticker value="ADI 12 P100"/>
          <other otherDesc="Internal Identifier" value="1011013"/>
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        <balance>-10000.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>RBC Capital Markets LLC</counterpartyName>
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        <name>MORGAN STANLEY FRN 10/03/19 144A MS CUSTOM ENHANCED SPX BUY-WR</name>
        <lei>5493003FCPSE9RKT4B56</lei>
        <title>MORGAN STANLEY FRN 10/03/19 144A MS CUSTOM ENHANCED SPX BUY-WR</title>
        <cusip>61768P587</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="687338"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ASHTEAD CAPITAL INC 4.375% 08/15/2027 144A</name>
        <lei>213800J1134IW58IC398</lei>
        <title>ASHTEAD CAPITAL INC 4.375% 08/15/2027 144A</title>
        <cusip>045054AF0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="671485"/>
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        <balance>42500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43760337.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMC ENTERTAINMENT HOLDINGS INC 5.875% 11/15/2026</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC ENTERTAINMENT HOLDINGS INC 5.875% 11/15/2026</title>
        <cusip>00165CAB0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="671410"/>
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        <balance>59300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54165657.75000000</valUSD>
        <pctVal>0.072673362056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>United States Treasury Note/Bond 2.5% 06/30/2020</name>
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        <name>Owl Rock Capital Corp COM USD 1</name>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP PFD 8.3750%  SER Z</name>
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        <name>United States Treasury Note/Bond 2.5% 05/31/2020</name>
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        <name>BAKER HUGHES A GE CO LLC COM USD 0.0001 CL A </name>
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        <name>NCR CORP 5.00% 07/15/2022</name>
        <lei>549300YKTY8JX1DV2R67</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC 5.95% 7/30/2167 PERP</name>
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        <cusip>172967GD7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern Co/The 5.50% 03/15/2057 *FIXED TO FLOAT*</name>
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        <title>Southern Co/The 5.50% 03/15/2057 *FIXED TO FLOAT*</title>
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        <name>Walmart Inc 3.4% 06/26/2023</name>
        <lei>Y87794H0US1R65VBXU25</lei>
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        <fairValLevel>2</fairValLevel>
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        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO COM USD.01</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Walmart Inc 3.55% 06/26/2025</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc 3.55% 06/26/2025</title>
        <cusip>931142ED1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="878490"/>
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        <name>N/A</name>
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        <name>CHS/COMMUNITY HEALTH SYSTEMS INC 7.125% 07/15/2020</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/COMMUNITY HEALTH SYSTEMS INC 7.125% 07/15/2020</title>
        <cusip>12543DAQ3</cusip>
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          <other otherDesc="Internal Identifier" value="525828"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bayer US Finance II LLC 4.25% 12/15/2025 144A</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC 4.25% 12/15/2025 144A</title>
        <cusip>07274NAJ2</cusip>
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          <other otherDesc="Internal Identifier" value="878169"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SEMPRA ENERGY COM USD NPV</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY COM USD NPV</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC 3.40% 03/08/2021</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC 3.40% 03/08/2021</title>
        <cusip>404280AV1</cusip>
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          <other otherDesc="Internal Identifier" value="628117"/>
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        <curCd>USD</curCd>
        <valUSD>25386625.00000000</valUSD>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CCO HOLDINGS LLC/CAPITAL CORP 5.75% 09/01/2023</name>
        <lei>N/A</lei>
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        <cusip>1248EPBD4</cusip>
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          <other otherDesc="Internal Identifier" value="570305"/>
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        <curCd>USD</curCd>
        <valUSD>68507500.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ANTERO RESOURCES CORP 5.625% 06/01/2023</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
        <title>ANTERO RESOURCES CORP 5.625% 06/01/2023</title>
        <cusip>03674XAF3</cusip>
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          <other otherDesc="Internal Identifier" value="627827"/>
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        <curCd>USD</curCd>
        <valUSD>36540000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <name>MGM Resorts International 5.5% 04/15/2027</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International 5.5% 04/15/2027</title>
        <cusip>552953CF6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="971941"/>
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        <curCd>USD</curCd>
        <valUSD>82376250.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BCE INC ORD CAD NPV</name>
        <lei>5493001I9203PRB5KR45</lei>
        <title>BCE INC ORD CAD NPV</title>
        <cusip>05534B760</cusip>
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          <ticker value="BCE"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO 5.90% 12/15/2167 PERP</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO 5.90% 12/15/2167 PERP</title>
        <cusip>949746RG8</cusip>
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          <other otherDesc="Internal Identifier" value="574881"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>GENERAL MOTORS CO 5.15% 04/01/2038</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 5.15% 04/01/2038</title>
        <cusip>37045VAP5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="673734"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION CNV PRF 5.375%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FEDERAL NATIONAL MORTGAGE ASSOCIATION CNV PRF 5.375%</title>
        <cusip>313586810</cusip>
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          <ticker value="FNMFO"/>
          <other otherDesc="Internal Identifier" value="324494"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>DuPont de Nemours Inc COM USD 0.01</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc COM USD 0.01</title>
        <cusip>26614N102</cusip>
        <identifiers>
          <ticker value="DD"/>
          <other otherDesc="Internal Identifier" value="812044"/>
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        <curCd>USD</curCd>
        <valUSD>83623382.94000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP 3.75% 07/28/2026</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP 3.75% 07/28/2026</title>
        <cusip>14040HBK0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="641359"/>
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        <balance>110200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114707560.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DISH DBS CORP 5.875% 07/15/2022</name>
        <lei>N/A</lei>
        <title>DISH DBS CORP 5.875% 07/15/2022</title>
        <cusip>25470XAJ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="530689"/>
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        <balance>391500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408628125.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>West Corporation 6.52617% 10/10/2024 Term B Loans</name>
        <lei>5493005Z5DB0O5S30R71</lei>
        <title>West Corporation 6.52617% 10/10/2024 Term B Loans</title>
        <cusip>68162RAC5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675910"/>
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        <balance>39517427.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35302221.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-10</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Cigna Corp 4.125% 11/15/2025</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp 4.125% 11/15/2025</title>
        <cusip>125523AG5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1004081"/>
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        <balance>60000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64692763.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO COM USD.1666</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO COM USD.1666</title>
        <cusip>949746101</cusip>
        <identifiers>
          <ticker value="WFC"/>
          <other otherDesc="Internal Identifier" value="20314"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 5.625% 10/15/2023 144A</name>
        <lei>N/A</lei>
        <title>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 5.625% 10/15/2023 144A</title>
        <cusip>561233AD9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="616581"/>
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        <curCd>USD</curCd>
        <valUSD>95592250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 5.875% 05/15/2023 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.875% 05/15/2023 144A</title>
        <cusip>91831AAB7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599699"/>
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        <curCd>USD</curCd>
        <valUSD>414325125.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NETFLIX INC 5.875% 11/15/2028</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC 5.875% 11/15/2028</title>
        <cusip>64110LAT3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="978722"/>
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        <balance>60000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65328000.00000000</valUSD>
        <pctVal>0.087649732203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>INTERNATIONAL BUSINESS MACHINES CORP STRIKE 150 EXPIRES 10/18/19 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="IBM 10 C150"/>
          <other otherDesc="Internal Identifier" value="1001411"/>
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        <balance>-7000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <name>GM 9.0% ELN Issued by Wells Fargo Bank NA 9.0% ELN 6/1/2020</name>
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        <name>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 6.50% 04/15/2021</name>
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        <name>BANK OF AMERICA CORP 5.20% 12/1/2167 PERP</name>
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        <name>GOVT NATL MORTG ASSN 4% 09/20/2049 SF2</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>KINDER MORGAN INC 5.625% 11/15/2023 144A</name>
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        <name>BALL CORP 4.00% 11/15/2023</name>
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        <name>METLIFE INC COM USD.01</name>
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        <lei>5493003S21INSLK2IP73</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>DAIMLER AG ORD EUR NPV</name>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Tenet Healthcare Corp 7% 08/01/2025</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ROYAL DUTCH SHELL PLC SPONSORED ADR A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF AMERICA CORP PFD 7.25% SERIES L CONV PFD STK</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ADI 8.00% ELN Issued by Royal Bank of Canada 8.00% ELN 11/26/2019</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <assetCat>EP</assetCat>
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        <invCountry>CA</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>THE WILLIAMS COS INC COM USD1</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>THE WILLIAMS COS INC COM USD1</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>AMAT 8.50% ELN Issued by Merrill Lynch International &amp; Co C.V. 8.50% ELN 03/09/2020</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ANTERO RESOURCES CORP 5.125% 12/01/2022</name>
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        <name>Chesapeake Energy Corp 8% 01/15/2025</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp 8% 01/15/2025</title>
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        <name>SIRIUS XM RADIO INC 4.625% 05/15/2023 144A</name>
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        <name>Bank of America Corp 3.004% 12/20/2023 FIXED TO FLOAT</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BA 8.5% ELN Issued by Royal Bank of Canada 8.5% ELN 07/29/2020</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>BA 8.5% ELN Issued by Royal Bank of Canada 8.5% ELN 07/29/2020</title>
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        <assetCat>EP</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>WELLS FARGO &amp; CO STRIKE 50 EXPIRES 10/18/19 CALLS</title>
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        <lei>KNX4USFCNGPY45LOCE31</lei>
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        <fairValLevel>1</fairValLevel>
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        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp 3.419% 12/20/28 FIXED TO FLOAT</title>
        <cusip>06051GHD4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="875483"/>
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        <balance>135000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140977200.60000000</valUSD>
        <pctVal>0.189147285687</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.41900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 INDEX STRIKE 2700 EXPIRES 06/19/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SPX 6 P2700"/>
          <other otherDesc="Internal Identifier" value="960109"/>
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        <balance>5000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>45200000.00000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Index" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                  <cusip value="783786106"/>
                  <ticker value="SPX 6 P2700"/>
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            <shareNo>100.00000000</shareNo>
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            <unrealizedAppr>-43760191.00000000</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC 6.30% 11/15/2167 PERP</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 6.30% 11/15/2167 PERP</title>
        <cusip>172967HQ7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="575428"/>
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        <balance>217300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230997505.50000000</valUSD>
        <pctVal>0.309926363837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHS/Community Health Systems Inc 8% 03/15/2026 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 8% 03/15/2026 144A</title>
        <cusip>12543DBC3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="966081"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50000000.00000000</valUSD>
        <pctVal>0.067084352960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>WELLS FARGO &amp; CO STRIKE 50 EXPIRES 11/15/19 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="WFC 11 C50"/>
          <other otherDesc="Internal Identifier" value="1006188"/>
        </identifiers>
        <balance>-20000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3800000.00000000</valUSD>
        <pctVal>-0.00509841082</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>RBC Capital Markets LLC</counterpartyName>
              <counterpartyLei>549300LCO2FLSSVFFR64</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>WELLS FARGO &amp; CO STRIKE 50 EXPIRES 11/15/19 CALLS</issuerName>
                <issueTitle>WELLS FARGO &amp; CO STRIKE 50 EXPIRES 11/15/19 CALLS</issueTitle>
                <identifiers>
                  <cusip value="949746101"/>
                  <isin value="US9497461015"/>
                  <ticker value="WFC 11 C50"/>
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            <shareNo>200.00000000</shareNo>
            <exercisePrice>50.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2660682.02000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENDO LUXEMBOURG FINANCE CO I SARL AND ENDO LLC 6.1875% 04/29/2024 INITIAL TERM LOANS</name>
        <lei>N/A</lei>
        <title>ENDO LUXEMBOURG FINANCE CO I SARL AND ENDO LLC 6.1875% 04/29/2024 INITIAL TERM LOANS</title>
        <cusip>L2968EAB8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="663994"/>
        </identifiers>
        <balance>78200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71318400.00000000</valUSD>
        <pctVal>0.095686974363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAC 7.00% ELN Issued by Credit Suisse AG, London Branch 7.00% ELN 2/6/2020</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BAC 7.00% ELN Issued by Credit Suisse AG, London Branch 7.00% ELN 2/6/2020</title>
        <cusip>22550T120</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="957072"/>
        </identifiers>
        <balance>10400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>307262571.20000000</valUSD>
        <pctVal>0.412250215556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Freeport-McMoRan Inc 5.25% 09/01/29</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc 5.25% 09/01/29</title>
        <cusip>35671DCD5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1000461"/>
        </identifiers>
        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39991600.00000000</valUSD>
        <pctVal>0.053656212196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMC ENTERTAINMENT HOLDINGS INC 5.75% 06/15/2025</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC ENTERTAINMENT HOLDINGS INC 5.75% 06/15/2025</title>
        <cusip>00165AAH1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="608003"/>
        </identifiers>
        <balance>37325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35716292.50000000</valUSD>
        <pctVal>0.047920087449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <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>BB&amp;T CORP COM USD5</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>BB&amp;T CORP COM USD5</title>
        <cusip>054937107</cusip>
        <identifiers>
          <ticker value="BBT"/>
          <other otherDesc="Internal Identifier" value="63877"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186795000.00000000</valUSD>
        <pctVal>0.250620434224</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Inc 8% CNV PFD a *AVGOP*</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc 8% CNV PFD a *AVGOP*</title>
        <cusip>11135F200</cusip>
        <identifiers>
          <ticker value="AVGO"/>
          <other otherDesc="Internal Identifier" value="1012579"/>
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        <balance>420000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>430662036.00000000</valUSD>
        <pctVal>0.577813680591</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Matador Resources Co 5.875% 09/15/2026</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co 5.875% 09/15/2026</title>
        <cusip>576485AE6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="950216"/>
        </identifiers>
        <balance>72000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72496800.00000000</valUSD>
        <pctVal>0.097268018393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A</name>
        <lei>N/A</lei>
        <title>WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A</title>
        <cusip>983130AV7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="613652"/>
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        <balance>147500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155243750.00000000</valUSD>
        <pctVal>0.208288530397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>Kraft Heinz Foods Co 4.625% 01/30/2029</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>Kraft Heinz Foods Co 4.625% 01/30/2029</title>
        <cusip>50077LAT3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="876487"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43342302.00000000</valUSD>
        <pctVal>0.058151805709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vertiv Group Corp 6.70663% 11/30/2023 Term B Loans</name>
        <lei>549300ZT8RQ5VK10E643</lei>
        <title>Vertiv Group Corp 6.70663% 11/30/2023 Term B Loans</title>
        <cusip>22051UAM7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="662529"/>
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        <balance>62189439.67000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59261374.28000000</valUSD>
        <pctVal>0.079510218982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.32988000</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>FEDERAL NATIONAL MORTGAGE ASSOCIATION PFD 8.25%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FEDERAL NATIONAL MORTGAGE ASSOCIATION PFD 8.25%</title>
        <cusip>313586752</cusip>
        <identifiers>
          <ticker value="FNMA"/>
          <other otherDesc="Internal Identifier" value="407345"/>
        </identifiers>
        <balance>5500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73425000.00000000</valUSD>
        <pctVal>0.098513372322</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
        <lei>N/A</lei>
        <title>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</title>
        <cusip>457756500</cusip>
        <identifiers>
          <ticker value="INFXX"/>
          <other otherDesc="Internal Identifier" value="170875"/>
        </identifiers>
        <balance>1719872256.75200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1719872256.75000000</valUSD>
        <pctVal>2.307530350365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="23902000.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPRINT COMMUNICATIONS INC 7.00% 08/15/2020</name>
        <lei>549300JKU50UT08ZWD77</lei>
        <title>SPRINT COMMUNICATIONS INC 7.00% 08/15/2020</title>
        <cusip>852061AR1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="528322"/>
        </identifiers>
        <balance>102500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106057775.00000000</valUSD>
        <pctVal>0.142296344245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chesapeake Energy Corp 7.5% 10/01/2026</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp 7.5% 10/01/2026</title>
        <cusip>165167DB0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="933760"/>
        </identifiers>
        <balance>129200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88502000.00000000</valUSD>
        <pctVal>0.118741988113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPRINT CORP 7.125% 06/15/2024</name>
        <lei>549300ZTTY7CXOLJ6539</lei>
        <title>SPRINT CORP 7.125% 06/15/2024</title>
        <cusip>85207UAH8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="590231"/>
        </identifiers>
        <balance>190650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205959195.00000000</valUSD>
        <pctVal>0.276332786655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY 5.55% 7/15/2168 PERP</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 5.55% 7/15/2168 PERP</title>
        <cusip>617474AA9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599548"/>
        </identifiers>
        <balance>58000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58816640.00000000</valUSD>
        <pctVal>0.078913524753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.55000000</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>CITIGROUP INC 5.95% 2/15/2168 PERP</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 5.95% 2/15/2168 PERP</title>
        <cusip>172967JZ5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="610085"/>
        </identifiers>
        <balance>120000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>122555400.00000000</valUSD>
        <pctVal>0.164430994215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.95000000</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>IP 9.0% ELN Issued by Barclays Bank PLC 9.0% ELN 9/17/2020</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>IP 9.0% ELN Issued by Barclays Bank PLC 9.0% ELN 9/17/2020</title>
        <cusip>06747C181</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1007003"/>
        </identifiers>
        <balance>5634000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230137265.79000000</valUSD>
        <pctVal>0.308772191351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diamond Sports Group LLC 6.5% 08/24/2026 Term Loan</name>
        <lei>N/A</lei>
        <title>Diamond Sports Group LLC 6.5% 08/24/2026 Term Loan</title>
        <cusip>25277BAB4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="998576"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25179750.00000000</valUSD>
        <pctVal>0.033783344728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.30000000</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>S&amp;P 500 INDEX STRIKE 2900 EXPIRES 03/20/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SPX 3 P2900"/>
          <other otherDesc="Internal Identifier" value="1001410"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>53350000.00000000</valUSD>
        <pctVal>0.071579004608</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>MERRILL LYNCH INTERNATIONAL</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>S&amp;P 500 INDEX STRIKE 2900 EXPIRES 03/20/20 PUTS</issuerName>
                <issueTitle>S&amp;P 500 INDEX STRIKE 2900 EXPIRES 03/20/20 PUTS</issueTitle>
                <identifiers>
                  <cusip value="783786106"/>
                  <ticker value="SPX 3 P2900"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>2900.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-19660189.50000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPRINT SPECTRUM CO LLC / SPRINT SPECTRUM CO II LLC / SP 5.152% 09/20/2029 144A</name>
        <lei>N/A</lei>
        <title>SPRINT SPECTRUM CO LLC / SPRINT SPECTRUM CO II LLC / SP 5.152% 09/20/2029 144A</title>
        <cusip>85208NAE0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686665"/>
        </identifiers>
        <balance>220000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239250000.00000000</valUSD>
        <pctVal>0.320998628914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15200000</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>NVDA 10% ELN ISSUED BY JPMORGAN CHASE BANK, NATIONAL ASSOCIATION NVDA 10% ELN 7/28/2020</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>NVDA 10% ELN ISSUED BY JPMORGAN CHASE BANK, NATIONAL ASSOCIATION NVDA 10% ELN 7/28/2020</title>
        <cusip>48128D685</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="998599"/>
        </identifiers>
        <balance>1786000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>307198479.61000000</valUSD>
        <pctVal>0.412164224699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U S TREASURY NOTE</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912828NM8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912828NM8"/>
        </identifiers>
        <balance>5976422.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5976422.00000000</valUSD>
        <pctVal>0.008018488057</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300HN4UKV1E2R3U73" name="BofA Securities Inc."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.02300000</repurchaseRt>
          <maturityDt>2019-10-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5976422.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>6095956.28000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <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>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
