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        <name>Block Inc</name>
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        <name>Jefferson Capital Holdings LLC</name>
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        <name>Acushnet Co</name>
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        <name>Amwins Group Inc</name>
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        <name>Vail Resorts, Inc.</name>
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        <name>Charles River Laboratories International, Inc.</name>
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        <name>Teine Energy Ltd</name>
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        <name>MILLROSE PROPERTIES INC</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Embecta Corp.</name>
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        <name>Phinia Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TGNR INTERMEDIATE HOLDINGS LLC</name>
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          <isin value="US77289KAA34"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Allegiant Travel Company</name>
        <lei>549300JM9OZXOHWL2K18</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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        <name>United Wholesale Mortgage LLC</name>
        <lei>549300HW662MN1WU8550</lei>
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          <isin value="US913229AC47"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
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        <name>Southern California Edison Company</name>
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        <title>EIX 4.875 03/01/49 B</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-03-01</maturityDt>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS V4.875 PERP 144A</title>
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          <isin value="US902613AJ70"/>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Ryan Specialty LLC</name>
        <lei>549300K52N7QBO3PYY45</lei>
        <title>RYASPE 4.375 02/01/30 144A</title>
        <cusip>78351MAA0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
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        <name>Truist Insurance Holdings, LLC</name>
        <lei>N/A</lei>
        <title>Truist Insurance Holdings Term Loan B 275 2031-05-01</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CI Financial Corp</name>
        <lei>549300M9W7JJQSVCEM78</lei>
        <title>CIXCN 7.5 05/30/29 144A</title>
        <cusip>125491AT7</cusip>
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        <balance>10100000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Cogent IPV4 LLC</name>
        <lei>N/A</lei>
        <title>CGNT 2025-1A A2</title>
        <cusip>19240JAC2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FMC Corp.</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC 6.375 05/18/53</title>
        <cusip>302491AY1</cusip>
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        <name>Qorvo Inc</name>
        <lei>254900YAUJV2EUEVBR11</lei>
        <title>QRVO 3.375 04/01/31 144A</title>
        <cusip>74736KAJ0</cusip>
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        <name>Amkor Technology, Inc.</name>
        <lei>529900VHLRTKPWZJBM84</lei>
        <title>AMKR 5.875 10/01/33 144A</title>
        <cusip>031652BL3</cusip>
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        <name>RHP Hotel Properties LP</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Term Loan B 200 2030-05-01</title>
        <cusip>74958NAL0</cusip>
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        <name>Connect Finco SARL/Connect US Finco LLC</name>
        <lei>2594001KNYIQ456J2792</lei>
        <title>ISATLN 9 09/15/29 144A</title>
        <cusip>20752TAB0</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
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        <name>Winnebago Industries Inc.</name>
        <lei>549300B7OYKYJLTE3G11</lei>
        <title>WGO 6.25 07/15/28 144A</title>
        <cusip>974637AC4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
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        <name>Live Nation Entertainment, Inc.</name>
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        <name>Enova International Inc.</name>
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        <name>SM Energy Co.</name>
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        <name>Taberna Preferred Funding I Ltd.</name>
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        <name>AIR CANADA PASS THROUGH TRUST SERIES 2017-1</name>
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        <name>CI Financial Corp</name>
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        <name>Forestar Group Inc.</name>
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        <name>Block Inc</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Wesco Distribution, Inc.</name>
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        <name>Utah Acquisition Sub Inc</name>
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        <name>TripAdvisor Inc</name>
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        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
        <title>KGS 5.875 04/01/31 144A</title>
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        <name>The Bank of New York Mellon Corp.</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BK V7.166 PERP H</title>
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        <name>Roblox Corporation</name>
        <lei>529900ANZDBDFU91SO19</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>First Quantum Minerals Ltd.</name>
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        <name>Phinia Inc.</name>
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      <invstOrSec>
        <name>Grubhub Holdings Inc</name>
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        <name>Viking Cruises, Ltd.</name>
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        <invCountry>BM</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>RHP Hotel Properties LP / RHP Finance Corporation</name>
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        <name>Velocity Commercial Capital LLC</name>
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        <name>Connect US Finco LLC</name>
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        <name>Ardonagh Group Finco Pty Ltd</name>
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        <name>Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance Inc.</name>
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        <name>AFFINITY INTERACTIVE CORP</name>
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        <name>Saturn Oil &amp; Gas Inc</name>
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        <name>Installed Building Products Inc</name>
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        <name>Saks Global Enterprises LLC</name>
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        <title>SAGLEN 11 12/15/29 144*</title>
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        <name>Fort Sheridan ABS CDO Ltd</name>
        <lei>N/A</lei>
        <title>Fort Sheridan ABS CDO Ltd</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Enpro Inc</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
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        <curCd>USD</curCd>
        <valUSD>6995351.43000000</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>Travel Plus Leisure Co</name>
        <lei>T4VNTWMFQ7JQB65L7T35</lei>
        <title>TNL 6.625 07/31/26 144A</title>
        <cusip>98310WAS7</cusip>
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          <isin value="US98310WAS70"/>
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        <balance>29617000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29659589.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Sabre GLBL Inc.</name>
        <lei>F2TJC7HPPHLHU1AQMP98</lei>
        <title>SABHLD 10.75 11/15/29 144A</title>
        <cusip>78573NAL6</cusip>
        <identifiers>
          <isin value="US78573NAL64"/>
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        <balance>9212000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7876260.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TDG 6.75 08/15/28 144A</title>
        <cusip>893647BR7</cusip>
        <identifiers>
          <isin value="US893647BR70"/>
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        <balance>22582000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22884372.98000000</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>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>ESAB Corp.</name>
        <lei>549300ZNV0SWBXEIWT04</lei>
        <title>ESAB 5.625 04/01/31 144A</title>
        <cusip>29605JAB2</cusip>
        <identifiers>
          <isin value="US29605JAB26"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1241697.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Magnolia Oil &amp; Gas Operating LLC / Magnolia Oil &amp; Gas Finance Corp</name>
        <lei>984500CG376B0B99F016</lei>
        <title>MGY 6.875 12/01/32 144A</title>
        <cusip>559665AB0</cusip>
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          <isin value="US559665AB08"/>
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        <balance>1725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1776261.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citadel Finance LLC</name>
        <lei>549300BQL283NCR7P163</lei>
        <title>CITADL 5.9 02/10/30 144A</title>
        <cusip>17287HAD2</cusip>
        <identifiers>
          <isin value="US17287HAD26"/>
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        <balance>10641000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10697754.41000000</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>2030-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM 6.625 04/15/34 144A</title>
        <cusip>78454LAZ3</cusip>
        <identifiers>
          <isin value="US78454LAZ31"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2744430.21000000</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>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Elastic NV</name>
        <lei>2549003I48WHHH937I59</lei>
        <title>ESTC 4.125 07/15/29 144A</title>
        <cusip>28415LAA1</cusip>
        <identifiers>
          <isin value="US28415LAA17"/>
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        <balance>9538000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8954726.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>BKV Upstream Midstream LLC</name>
        <lei>254900LG75NBYHBBAU18</lei>
        <title>BKVCOR 7.5 10/15/30 144A</title>
        <cusip>05619CAA3</cusip>
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          <isin value="US05619CAA36"/>
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        <balance>13730000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13887043.74000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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        <name>British Airways Pass Through Certificates 2019-1Aa</name>
        <lei>635400CJYI1FFBTMGH98</lei>
        <title>IAGLN 3.3 12/15/32 144A</title>
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        <curCd>USD</curCd>
        <valUSD>3786223.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-15</maturityDt>
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      <invstOrSec>
        <name>Sgus LLC</name>
        <lei>N/A</lei>
        <title>SGUSLL 11 12/15/29 144A</title>
        <cusip>81880AAA0</cusip>
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        <balance>7170750.00000000</balance>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>Cable One Inc</name>
        <lei>549300648QS85T0XSH18</lei>
        <title>CABO 1.125 03/15/28</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Cable One Inc</title>
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      <invstOrSec>
        <name>Avantor Funding Inc</name>
        <lei>5493003VM0XB4U8YD238</lei>
        <title>AVTR 3.875 11/01/29 144A</title>
        <cusip>05352TAB5</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ryan Specialty LLC</name>
        <lei>549300K52N7QBO3PYY45</lei>
        <title>RYASPE 5.875 08/01/32 144A</title>
        <cusip>78351GAA3</cusip>
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        <balance>23751000.00000000</balance>
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        <valUSD>23493767.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
        <lei>5299007V1ACKFFX2P066</lei>
        <title>MINAU 8 11/01/27 144A</title>
        <cusip>603051AC7</cusip>
        <identifiers>
          <isin value="US603051AC70"/>
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        <balance>2554000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2588911.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Howden UK Refinance 2 PLC / Howden US Finance LLC</name>
        <lei>875500O63ODR8S3K5X33</lei>
        <title>HWDGRP 8.125 02/15/32 144A</title>
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        <name>SM Energy Co.</name>
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        <name>The Gap Inc.</name>
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        <name>Macys Retail Holdings LLC</name>
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        <name>Enerflex Inc.</name>
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        <name>Voc Escrow Ltd</name>
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        <name>ZF North America Capital, Inc.</name>
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        <name>ZipRecruiter Inc</name>
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        <name>The Bank of New York Mellon Corp.</name>
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        <name>Cleveland-Cliffs Inc</name>
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        <name>Healthequity Inc</name>
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        <name>PRA Group Inc.</name>
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        <name>LUXCO3 DUMMY EQUITY</name>
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        <name>Titan International, Inc.</name>
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        <name>Wesco Distribution, Inc.</name>
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        <name>Block Inc</name>
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        <name>BW REAL ESTATE INC</name>
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        <title>WAL V9.5 PERP 144A</title>
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        <name>DBR Land Holdings LLC</name>
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        <name>Freedom Mortgage Corporation</name>
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        <name>Southern California Edison Company</name>
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        <name>Graham Holdings Co</name>
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        <name>Amsted Industries Incorporated</name>
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        <name>Dream Finders Homes Inc</name>
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        <name>Jetblue Airways Corp 2020-1B Pass Through Trust</name>
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        <name>Centene Corp.</name>
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        <name>Angi Group Llc</name>
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        <name>Magnera Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QVC, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Burford Capital Global Finance LLC</name>
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          <isin value="US12116LAG41"/>
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        <valUSD>2834886.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-15</maturityDt>
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        <name>Molina Healthcare, Inc.</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Molina Healthcare, Inc.</name>
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        <title>MOH 4.375 06/15/28 144A</title>
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        <balance>7048000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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        <name>Flutter Treasury Designated Activity Co.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Western Alliance Bancorp</name>
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        <title>WAL V3 06/15/31</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Saks Global Enterprises LLC</name>
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        <title>SAGLEN 11 12/15/29 144@</title>
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        <fairValLevel>2</fairValLevel>
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        <name>RHP Hotel Properties LP / RHP Finance Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Iqvia Inc</name>
        <lei>549300PLWY28YB00C717</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Cogent IPV4 LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ATLANTICUS HOLDINGS CORP</name>
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        <title>ATLC 9.75 09/01/30 144A</title>
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        <name>Cable One Inc</name>
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        <title>CABO 4 11/15/30 144A</title>
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        <name>TransDigm, Inc.</name>
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        <name>Coronado Finance Pty Limited</name>
        <lei>549300NS5FS0W548RE27</lei>
        <title>CRNAU 9.25 10/01/29 144A</title>
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        <name>Iqvia Inc</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQV 5 05/15/27 144A</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BAC V4.375 PERP RR</title>
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          <maturityDt>N/A</maturityDt>
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        <name>Viking Cruises, Ltd.</name>
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        <name>WBI Operations LLC</name>
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        <name>RIVERS ENTERPRISE BORROWER LLC</name>
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        <name>Winnebago Industries Inc.</name>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chord Energy Corp.</name>
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        <title>CHRD 6 10/01/30 144A</title>
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        <name>FIRSTCASH HOLDINGS INC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy Inc.</name>
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        <title>NRG Energy Term Loan B 175 2031-04-01</title>
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        <name>Firstcash Inc</name>
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        <title>FCFS 4.625 09/01/28 144A</title>
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        <name>Midwest Gaming Borrower LLC</name>
        <lei>5493005826VXDUREHL94</lei>
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        <name>ARKO CORP</name>
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        <name>Charter Communications Operating, LLC/Charter Communications Operating Capital Corp.</name>
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        <name>APTIV SWISS HOLDINGS LTD</name>
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        <name>Long Ridge Energy LLC</name>
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        <name>Kioxia Holdings Corp.</name>
        <lei>35380080RTKRARNH4R73</lei>
        <title>KIOXIA 6.25 07/24/30 144A</title>
        <cusip>49726JAA6</cusip>
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        <invCountry>JP</invCountry>
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          <maturityDt>2030-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NCL Corporation Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCLH 5.875 01/15/31 144A</title>
        <cusip>62886HBY6</cusip>
        <identifiers>
          <isin value="US62886HBY62"/>
        </identifiers>
        <balance>15858000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15416605.73000000</valUSD>
        <pctVal>0.757477113368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>Lindblad Expeditions LLC</name>
        <lei>549300MPUWOG67Y2R254</lei>
        <title>LIND 7 09/15/30 144A</title>
        <cusip>53523LAB6</cusip>
        <identifiers>
          <isin value="US53523LAB62"/>
        </identifiers>
        <balance>9250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9449763.00000000</valUSD>
        <pctVal>0.464303188692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>Snap Inc</name>
        <lei>549300JNC0L6VP8A2Q35</lei>
        <title>SNAP 0.5 05/01/30</title>
        <cusip>83304AAK2</cusip>
        <identifiers>
          <isin value="US83304AAK25"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3223000.00000000</valUSD>
        <pctVal>0.158358381808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Snap Inc</name>
              <title>Snap Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="83304A106"/>
                <isin value="US83304A1060"/>
                <ticker value="SNAP"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="45.08460001" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Charles Schwab Corporation</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>SCHW V4 PERP I</title>
        <cusip>808513BK0</cusip>
        <identifiers>
          <isin value="US808513BK01"/>
        </identifiers>
        <balance>16292000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16191755.32000000</valUSD>
        <pctVal>0.795563193024</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>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Cogent Communications Group LLC / Cogent Finance Inc.</name>
        <lei>549300KFWFYF8Q1U0Y26</lei>
        <title>CCOI 6.5 07/01/32 144A</title>
        <cusip>19240WAB5</cusip>
        <identifiers>
          <isin value="US19240WAB54"/>
        </identifiers>
        <balance>27825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24292321.31000000</valUSD>
        <pctVal>1.193575145215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>EG Global Finance PLC</name>
        <lei>549300TL8Q5207VYET27</lei>
        <title>EGBLFN 12 11/30/28 144A</title>
        <cusip>28228PAC5</cusip>
        <identifiers>
          <isin value="US28228PAC59"/>
        </identifiers>
        <balance>21803000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23339392.00000000</valUSD>
        <pctVal>1.146754064387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.00000000</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>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS V3.875 PERP 144A</title>
        <cusip>902613AG3</cusip>
        <identifiers>
          <isin value="US902613AG32"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4995782.00000000</valUSD>
        <pctVal>0.245461977471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Forestar Group Inc.</name>
        <lei>549300BC2UB0GHV60V70</lei>
        <title>FOR 5 03/01/28 144A</title>
        <cusip>346232AE1</cusip>
        <identifiers>
          <isin value="US346232AE19"/>
        </identifiers>
        <balance>19154000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19014353.93000000</valUSD>
        <pctVal>0.934248315077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Ecopetrol S.A.</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>ECOPET 5.875 05/28/45</title>
        <cusip>279158AJ8</cusip>
        <identifiers>
          <isin value="US279158AJ82"/>
        </identifiers>
        <balance>9665000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7123593.18000000</valUSD>
        <pctVal>0.350009521764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>Legg Mason Partners Institutional Trust</name>
        <lei>549300FS1J68EF5THY28</lei>
        <title>Legg Mason Partners Institutional Trust US TRASURY PRM</title>
        <cusip>52470G478</cusip>
        <identifiers>
          <isin value="US52470G4780"/>
          <ticker value="WAEXX"/>
        </identifiers>
        <balance>181444950.38000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181444950.38000000</valUSD>
        <pctVal>8.915088032746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Go Daddy Operating Company LLC / GD Finance Co Inc</name>
        <lei>5493005GJOH8HLL11157</lei>
        <title>GDDY 5.25 12/01/27 144A</title>
        <cusip>38016LAA3</cusip>
        <identifiers>
          <isin value="US38016LAA35"/>
        </identifiers>
        <balance>4473000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4458055.39000000</valUSD>
        <pctVal>0.219041401667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Venture Global Calcasieu Pass LLC</name>
        <lei>549300GKHS6RS20NLH85</lei>
        <title>VENTGL 3.875 08/15/29 144A</title>
        <cusip>92328MAA1</cusip>
        <identifiers>
          <isin value="US92328MAA18"/>
        </identifiers>
        <balance>11625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11055304.09000000</valUSD>
        <pctVal>0.543189595437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Viking Cruises, Ltd.</name>
        <lei>549300IJP90T4MV2GL84</lei>
        <title>VIKCRU 5.875 10/15/33 144A</title>
        <cusip>92676XAH0</cusip>
        <identifiers>
          <isin value="US92676XAH08"/>
        </identifiers>
        <balance>4840000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4782049.91000000</valUSD>
        <pctVal>0.234960498130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>AAR Corp.</name>
        <lei>MP76T5YQX3YK5VVAQ802</lei>
        <title>AIR 6.75 03/15/29 144A</title>
        <cusip>00253PAA6</cusip>
        <identifiers>
          <isin value="US00253PAA66"/>
        </identifiers>
        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7638727.50000000</valUSD>
        <pctVal>0.375320051497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</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>United Wholesale Mortgage LLC</name>
        <lei>549300HW662MN1WU8550</lei>
        <title>UWMLLC 5.5 04/15/29 144A</title>
        <cusip>913229AA8</cusip>
        <identifiers>
          <isin value="US913229AA80"/>
        </identifiers>
        <balance>29281000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27434279.54000000</valUSD>
        <pctVal>1.347951633274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Legg Mason Partners Investment Trust</ncom:nameOfApplicant>
      <ncom:signature>Christopher Berarducci</ncom:signature>
      <ncom:signerName>Christopher Berarducci</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
