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          <maturityDt>2027-11-01</maturityDt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CARDTRONICS INC  5.5% 05/01/25</name>
        <lei>N/A</lei>
        <title>CARDTRONICS INC / USA REGD 144A P/P 5.50000000</title>
        <cusip>14161TAA0</cusip>
        <identifiers>
          <isin value="US14161TAA07"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80750.00000000</valUSD>
        <pctVal>0.227933105612</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNCOKE ENRGY PA 7.5% 06/15/25</name>
        <lei>N/A</lei>
        <title>SUNCOKE ENRGY PART LP/FI REGD 144A P/P 7.50000000</title>
        <cusip>86723CAF5</cusip>
        <identifiers>
          <isin value="US86723CAF59"/>
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        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>288000.00000000</valUSD>
        <pctVal>0.812937887511</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMC ENTERTAINME 5.75% 06/15/25</name>
        <lei>N/A</lei>
        <title>AMC ENTERTAINMENT HLDGS REGD SER WI 5.75000000</title>
        <cusip>00165AAH1</cusip>
        <identifiers>
          <isin value="US00165AAH14"/>
        </identifiers>
        <balance>157000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65940.00000000</valUSD>
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        <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>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARCHROCK PARTNERS  6% 10/01/22</name>
        <lei>N/A</lei>
        <title>ARCHROCK PARTNERS LP/FIN REGD 6.00000000</title>
        <cusip>30227CAD9</cusip>
        <identifiers>
          <isin value="US30227CAD92"/>
        </identifiers>
        <balance>186000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186000.00000000</valUSD>
        <pctVal>0.525022385684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER OPE V/R /PERP/</name>
        <lei>N/A</lei>
        <title>ENERGY TRANSFER OPERATNG REGD V/R /PERP/ SER G 7.12500000</title>
        <cusip>29278NAT0</cusip>
        <identifiers>
          <isin value="US29278NAT00"/>
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        <balance>220000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>132402.60000000</valUSD>
        <pctVal>0.373732951197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2168-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>DCP MIDSTREAM  5.375% 07/15/25</name>
        <lei>N/A</lei>
        <title>DCP MIDSTREAM OPERATING REGD 5.37500000</title>
        <cusip>23311VAG2</cusip>
        <identifiers>
          <isin value="US23311VAG23"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>136560.00000000</valUSD>
        <pctVal>0.385468048328</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</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>CENTENE CORP 4.75% 01/15/25</name>
        <lei>N/A</lei>
        <title>CENTENE CORP REGD 144A P/P 4.75000000</title>
        <cusip>15135BAN1</cusip>
        <identifiers>
          <isin value="US15135BAN10"/>
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        <balance>145000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>145361.05000000</valUSD>
        <pctVal>0.410310780949</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>JC PENNEY CORP 5.875% 07/01/23</name>
        <lei>N/A</lei>
        <title>JC PENNEY CORP INC REGD 144A P/P 5.87500000</title>
        <cusip>708160CB0</cusip>
        <identifiers>
          <isin value="US708160CB09"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18500.00000000</valUSD>
        <pctVal>0.052219968468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</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>WOLVERINE ESCROW 8.5% 11/15/24</name>
        <lei>N/A</lei>
        <title>WOLVERINE ESCROW LLC REGD 144A P/P 8.50000000</title>
        <cusip>97789LAC0</cusip>
        <identifiers>
          <isin value="US97789LAC00"/>
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        <balance>395000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>315008.55000000</valUSD>
        <pctVal>0.889174948558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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          <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>US RENAL CARE 10.625% 07/15/27</name>
        <lei>N/A</lei>
        <title>US RENAL CARE INC REGD 144A P/P 10.62500000</title>
        <cusip>07335BAA4</cusip>
        <identifiers>
          <isin value="US07335BAA44"/>
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        <balance>265000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>223925.00000000</valUSD>
        <pctVal>0.632073321044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO V/R /PERP/</name>
        <lei>N/A</lei>
        <title>JPMORGAN CHASE &amp; CO REGD V/R /PERP/ SER HH 4.60000000</title>
        <cusip>48128BAG6</cusip>
        <identifiers>
          <isin value="US48128BAG68"/>
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        <balance>140000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122528.00000000</valUSD>
        <pctVal>0.345859907920</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2168-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>HUDBAY MINERALS 7.25% 01/15/23</name>
        <lei>N/A</lei>
        <title>HUDBAY MINERALS INC REGD 144A P/P 7.25000000</title>
        <cusip>443628AF9</cusip>
        <identifiers>
          <isin value="US443628AF98"/>
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        <balance>112000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97440.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>T-MOBILE USA INC 6% 04/15/24</name>
        <lei>N/A</lei>
        <title>T-MOBILE USA INC REGD 6.00000000</title>
        <cusip>87264AAQ8</cusip>
        <identifiers>
          <isin value="US87264AAQ85"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>158022.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>BOMBARDIER INC 7.5% 03/15/25</name>
        <lei>N/A</lei>
        <title>BOMBARDIER INC REGD 144A P/P 7.50000000</title>
        <cusip>097751BM2</cusip>
        <identifiers>
          <isin value="US097751BM26"/>
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        <balance>99000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70735.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>TRANSOCEAN INC 8% 02/01/27</name>
        <lei>N/A</lei>
        <title>TRANSOCEAN INC REGD 144A P/P 8.00000000</title>
        <cusip>893830BL2</cusip>
        <identifiers>
          <isin value="US893830BL24"/>
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        <balance>37000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17575.00000000</valUSD>
        <pctVal>0.049608970045</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>T/L COMMSCOPE INC 0% 04/06/26</name>
        <lei>N/A</lei>
        <title>T/L COMMSCOPE INC REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX178454"/>
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        <balance>209945.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199447.75000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BELDEN IN 3.875% 03/15/28/EUR/</name>
        <lei>68BKYO1JC791TTJHUE82</lei>
        <title>BELDEN INC /EUR/ REGD 144A P/P 3.87500000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1789515217"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90781172"/>
        <valUSD>99690.27000000</valUSD>
        <pctVal>0.281395824650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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        <lei>N/A</lei>
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          <isin value="US92535WAA80"/>
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        <valUSD>174671.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRIME SECSRVC B 6.25% 01/15/28</name>
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        <identifiers>
          <isin value="US74166MAE66"/>
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        <curCd>USD</curCd>
        <valUSD>224250.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLOBAL PART/GLP FI 7% 06/15/23</name>
        <lei>N/A</lei>
        <title>GLOBAL PART/GLP FINANCE REGD SER WI 7.00000000</title>
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        <identifiers>
          <isin value="US37954FAD69"/>
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        <curCd>USD</curCd>
        <valUSD>136940.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASBURY AUTOMOTIV 4.5% 03/01/28</name>
        <lei>549300JH4DTA7U42GL91</lei>
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        <cusip>043436AS3</cusip>
        <identifiers>
          <isin value="US043436AS36"/>
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        <curCd>USD</curCd>
        <valUSD>51850.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LEVEL 3 FINANCI 5.25% 03/15/26</name>
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        <cusip>527298BM4</cusip>
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          <isin value="US527298BM48"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
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        <name>REVANCE THERAPE 1.75% 02/15/27</name>
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        <title>REVANCE THERAPEUTICS INC REGD 144A P/P CONVERTIBLE 1.75000000</title>
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          <isin value="US761330AA71"/>
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        <curCd>USD</curCd>
        <valUSD>43115.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>REVANCE THERAPEUTICS INC</title>
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      <invstOrSec>
        <name>HESS MIDSTREAM 5.625% 02/15/26</name>
        <lei>N/A</lei>
        <title>HESS MIDSTREAM OPERATION REGD 144A P/P 5.62500000</title>
        <cusip>428102AC1</cusip>
        <identifiers>
          <isin value="US428102AC14"/>
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        <balance>167000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117912.86000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>DELTA AIR LINES 3.75% 10/28/29</name>
        <lei>N/A</lei>
        <title>DELTA AIR LINES INC REGD 3.75000000</title>
        <cusip>247361ZT8</cusip>
        <identifiers>
          <isin value="US247361ZT81"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>120753.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>TEVA PHARMACEUTI 2.8% 07/21/23</name>
        <lei>N/A</lei>
        <title>TEVA PHARMACEUTICALS NE REGD 2.80000000</title>
        <cusip>88167AAD3</cusip>
        <identifiers>
          <isin value="US88167AAD37"/>
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        <balance>456000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>416095.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>CSC HOLDINGS L 5.375% 02/01/28</name>
        <lei>N/A</lei>
        <title>CSC HOLDINGS LLC REGD 144A P/P 5.37500000</title>
        <cusip>126307AS6</cusip>
        <identifiers>
          <isin value="US126307AS68"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>204000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <name>AMERICAN AXLE &amp; 6.25% 03/15/26</name>
        <lei>N/A</lei>
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        <cusip>02406PAY6</cusip>
        <identifiers>
          <isin value="US02406PAY60"/>
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        <balance>408000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>314160.00000000</valUSD>
        <pctVal>0.886779745626</pctVal>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>VALVOLINE INC 4.25% 02/15/30</name>
        <lei>N/A</lei>
        <title>VALVOLINE INC REGD 144A P/P 4.25000000</title>
        <cusip>92047WAD3</cusip>
        <identifiers>
          <isin value="US92047WAD39"/>
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        <balance>85000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79679.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>T-MOBILE USA INC 6% 03/01/23</name>
        <lei>N/A</lei>
        <title>T-MOBILE USA INC REGD 6.00000000</title>
        <cusip>87264AAM7</cusip>
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          <isin value="US87264AAM71"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75413.25000000</valUSD>
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      <invstOrSec>
        <name>AMSTED INDUSTR 5.625% 07/01/27</name>
        <lei>N2VLGYMEEBIU3PFSUY86</lei>
        <title>AMSTED INDUSTRIES REGD 144A P/P 5.62500000</title>
        <cusip>032177AH0</cusip>
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          <isin value="US032177AH01"/>
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        <balance>18000.00000000</balance>
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        <valUSD>17512.47000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>AAG FH LP/AAG F 9.75% 07/15/24</name>
        <lei>N/A</lei>
        <title>AAG FH LP/AAG FH FINCO REGD 144A P/P 9.75000000</title>
        <cusip>00033AAA6</cusip>
        <identifiers>
          <isin value="US00033AAA60"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
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          <annualizedRt>9.75000000</annualizedRt>
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      <invstOrSec>
        <name>BAUSCH HEALTH COS  5% 01/30/28</name>
        <lei>N/A</lei>
        <title>BAUSCH HEALTH COS INC REGD 144A P/P 5.00000000</title>
        <cusip>071734AH0</cusip>
        <identifiers>
          <isin value="US071734AH05"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71002.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NOVA CHEMICALS 4.875% 06/01/24</name>
        <lei>N/A</lei>
        <title>NOVA CHEMICALS CORP REGD 144A P/P 4.87500000</title>
        <cusip>66977WAQ2</cusip>
        <identifiers>
          <isin value="US66977WAQ24"/>
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        <name>ARDAGH PKG FIN/HLD 6% 02/15/25</name>
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        <name>JBS USA/FOOD/FIN 6.5% 04/15/29</name>
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        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 6.75000000</title>
        <cusip>185899AG6</cusip>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>178000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>VIKING CRUISES  6.25% 05/15/25</name>
        <lei>N/A</lei>
        <title>VIKING CRUISES LTD REGD 144A P/P 6.25000000</title>
        <cusip>92676XAC1</cusip>
        <identifiers>
          <isin value="US92676XAC11"/>
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        <balance>235000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>150400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEG ENERGY CORP 6.5% 01/15/25</name>
        <lei>5493002WXPTG5ZC1T326</lei>
        <title>MEG ENERGY CORP REGD 144A P/P 6.50000000</title>
        <cusip>552704AD0</cusip>
        <identifiers>
          <isin value="US552704AD04"/>
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        <balance>42000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26565.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>PARSLEY ENERGY 5.625% 10/15/27</name>
        <lei>N/A</lei>
        <title>PARSLEY ENERGY LLC/FINAN REGD 144A P/P 5.62500000</title>
        <cusip>701885AH8</cusip>
        <identifiers>
          <isin value="US701885AH87"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>OPTION CARE HEALTH INC WT EXP 6/30/25</name>
        <lei>N/A</lei>
        <title>OPTION CARE HEALTH INC WARRANTS EXP 6/30/25 0.00000000</title>
        <cusip>68404L128</cusip>
        <identifiers>
          <isin value="US68404L1281"/>
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        <balance>80.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>109.60000000</valUSD>
        <pctVal>0.000309368029</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>OPTION CARE HEALTH INC </counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>OPTION CARE HEALTH INC </issuerName>
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      <invstOrSec>
        <name>OPTION CARE HEALTH INC</name>
        <lei>N/A</lei>
        <title>OPTION CARE HEALTH INC 0.00000000</title>
        <cusip>68404L201</cusip>
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          <isin value="US68404L2016"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUDBAY MINERAL 7.625% 01/15/25</name>
        <lei>N/A</lei>
        <title>HUDBAY MINERALS INC REGD 144A P/P 7.62500000</title>
        <cusip>443628AG7</cusip>
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          <isin value="US443628AG71"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WINDSTREAM SRV 8.625% 10/31/25</name>
        <lei>N/A</lei>
        <title>WINDSTREAM SRVC / FIN REGD 144A P/P 8.62500000</title>
        <cusip>97381LAB4</cusip>
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          <isin value="US97381LAB45"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203400.00000000</valUSD>
        <pctVal>0.574137383054</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ASHTEAD CAPITAL 4.25% 11/01/29</name>
        <lei>N/A</lei>
        <title>ASHTEAD CAPITAL INC REGD 144A P/P 4.25000000</title>
        <cusip>045054AL7</cusip>
        <identifiers>
          <isin value="US045054AL70"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16941.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DYCOM INDUSTRIE 0.75% 09/15/21</name>
        <lei>549300F56EKTHQI3WT60</lei>
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        <cusip>267475AB7</cusip>
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          <isin value="US267475AB73"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97031.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>DYCOM INDUSTRIES INC </title>
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      <invstOrSec>
        <name>BAUSCH HEALTH C 7.25% 05/30/29</name>
        <lei>N/A</lei>
        <title>BAUSCH HEALTH COS INC REGD P/P 7.25000000</title>
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      <invstOrSec>
        <name>ISTAR INC 4.75% 10/01/24</name>
        <lei>N/A</lei>
        <title>ISTAR INC REGD 4.75000000</title>
        <cusip>45031UCF6</cusip>
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          <isin value="US45031UCF66"/>
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      <invstOrSec>
        <name>TALEN ENERGY S 6.625% 01/15/28</name>
        <lei>N/A</lei>
        <title>TALEN ENERGY SUPPLY LLC REGD 144A P/P 6.62500000</title>
        <cusip>87422VAG3</cusip>
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          <isin value="US87422VAG32"/>
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        <name>COEUR MINING I 5.875% 06/01/24</name>
        <lei>5493003AVK173D48DR70</lei>
        <title>COEUR MINING INC REGD 5.87500000</title>
        <cusip>192108BB3</cusip>
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          <isin value="US192108BB36"/>
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        <balance>39000.00000000</balance>
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        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS CO REGD 5.75000000</title>
        <cusip>201723AN3</cusip>
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          <isin value="US201723AN37"/>
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      <invstOrSec>
        <name>COVANTA HOLDING CO 6% 01/01/27</name>
        <lei>N/A</lei>
        <title>COVANTA HOLDING CORP REGD 6.00000000</title>
        <cusip>22282EAH5</cusip>
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          <isin value="US22282EAH53"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SCIENTIFIC GAME 8.25% 03/15/26</name>
        <lei>N/A</lei>
        <title>SCIENTIFIC GAMES INTERNA REGD 144A P/P 8.25000000</title>
        <cusip>80874YBA7</cusip>
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          <isin value="US80874YBA73"/>
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        <balance>351000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224678.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PARSLEY ENERGY 5.375% 01/15/25</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS PLC V/R /PERP/</name>
        <lei>N/A</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALLIED UNIVERS 6.625% 07/15/26</name>
        <lei>N/A</lei>
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          <isin value="US019576AA51"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SINCLAIR TELEVIS 5.5% 03/01/30</name>
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          <isin value="US829259AY67"/>
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        <valUSD>190325.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEAZER HOMES US 6.75% 03/15/25</name>
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          <isin value="US07556QBM69"/>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED RENTALS  5.25% 01/15/30</name>
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          <isin value="US911365BL76"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US45569LAA98"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN MIDSTRE 9.5% 12/15/21</name>
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        <cusip>02753GAA7</cusip>
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          <isin value="US02753GAA76"/>
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        <cusip>097751BJ9</cusip>
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          <isin value="US097751BJ96"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DCP MIDSTREAM  3.875% 03/15/23</name>
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        <cusip>23311VAD9</cusip>
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        <name>TERVITA CORP 7.625% 12/01/21</name>
        <lei>N/A</lei>
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          <isin value="US88158UAA60"/>
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        <invCountry>CA</invCountry>
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          <isin value="US35906AAK43"/>
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        <name>ALBERTSONS COS/ 5.75% 03/15/25</name>
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        <name>T/L REGIONALCARE H 0% 11/16/25</name>
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      <invstOrSec>
        <name>NOVELIS CORP 5.875% 09/30/26</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 5.87500000</title>
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          <isin value="US670001AC05"/>
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        <curCd>USD</curCd>
        <valUSD>196273.00000000</valUSD>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRANSOCEAN SEN 5.375% 05/15/23</name>
        <lei>N/A</lei>
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        <cusip>89385AAA3</cusip>
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          <isin value="US89385AAA34"/>
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        <curCd>USD</curCd>
        <valUSD>227640.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHAELS STORES IN 8% 07/15/27</name>
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        <cusip>594087AU2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>PARSLEY ENERGY  5.25% 08/15/25</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ENTERPRISE DEVELO 12% 07/15/24</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GFL ENVIRONMENTA 8.5% 05/01/27</name>
        <lei>N/A</lei>
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        <cusip>36168QAE4</cusip>
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          <isin value="US36168QAE44"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>120564.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <name>CLOUD CRANE L 10.125% 08/01/24</name>
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        <name>WELLS FARGO &amp; COMPANY /PFD/CV</name>
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        <name>GLOBAL PART/GLP FI 7% 08/01/27</name>
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        <name>PIONEER ILS INTERVAL FUND</name>
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        <name>SESI LLC 7.75% 09/15/24</name>
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          <isin value="US78412FAU84"/>
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      </invstOrSec>
      <invstOrSec>
        <name>SURGERY CENTER  6.75% 07/01/25</name>
        <lei>N/A</lei>
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          <isin value="US84611WAB00"/>
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        <balance>57000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41040.00000000</valUSD>
        <pctVal>0.115843648970</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>GENESIS ENERGY L 6.5% 10/01/25</name>
        <lei>N/A</lei>
        <title>GENESIS ENERGY LP/FIN REGD 6.50000000</title>
        <cusip>37185LAJ1</cusip>
        <identifiers>
          <isin value="US37185LAJ17"/>
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        <balance>93000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67220.40000000</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>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>INTELSAT JACKSON 5.5% 08/01/23</name>
        <lei>N/A</lei>
        <title>INTELSAT JACKSON HLDG REGD 5.50000000</title>
        <cusip>45824TAP0</cusip>
        <identifiers>
          <isin value="US45824TAP03"/>
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        <balance>254000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>166370.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BUILDERS FIRSTSOUR 5% 03/01/30</name>
        <lei>N/A</lei>
        <title>BUILDERS FIRSTSOURCE INC REGD 144A P/P 5.00000000</title>
        <cusip>12008RAN7</cusip>
        <identifiers>
          <isin value="US12008RAN70"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18000.00000000</valUSD>
        <pctVal>0.050808617969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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      </invstOrSec>
      <invstOrSec>
        <name>VISTRA OPERATI 5.625% 02/15/27</name>
        <lei>N/A</lei>
        <title>VISTRA OPERATIONS CO LLC REGD 144A P/P 5.62500000</title>
        <cusip>92840VAB8</cusip>
        <identifiers>
          <isin value="US92840VAB80"/>
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        <balance>333000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>343406.25000000</valUSD>
        <pctVal>0.969333164698</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>CROWN CORK &amp; S 7.375% 12/15/26</name>
        <lei>N/A</lei>
        <title>CROWN CORK &amp; SEAL CO INC REGD 7.37500000</title>
        <cusip>228255AH8</cusip>
        <identifiers>
          <isin value="US228255AH83"/>
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        <balance>254000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>260350.00000000</valUSD>
        <pctVal>0.734890204908</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>7.37500000</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>CCO HLDGS LLC/CA 5.5% 05/01/26</name>
        <lei>N/A</lei>
        <title>CCO HLDGS LLC/CAP CORP REGD 144A P/P 5.50000000</title>
        <cusip>1248EPBR3</cusip>
        <identifiers>
          <isin value="US1248EPBR37"/>
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        <balance>515000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>522725.00000000</valUSD>
        <pctVal>1.475496379337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDS US165167CF27 05.000 SP 06/20/2022 GSINT LONG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CLIENT ID" value="BNR3FS0L0"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27877.17000000</valUSD>
        <pctVal>-0.07868891558</pctVal>
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        <assetCat>DCR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CHESAPEAKE ENE 6.625% 08/15/20</issuerName>
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                  <cusip value="165167CF2"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
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            <unrealizedAppr>-28477.18000000</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>ARCHROCK PARTNE 6.25% 04/01/28</name>
        <lei>N/A</lei>
        <title>ARCHROCK PARTNERS LP/FIN REGD 144A P/P 6.25000000</title>
        <cusip>03959KAC4</cusip>
        <identifiers>
          <isin value="US03959KAC45"/>
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        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55200.00000000</valUSD>
        <pctVal>0.155813095106</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>CHENIERE ENERGY  4.5% 10/01/29</name>
        <lei>N/A</lei>
        <title>CHENIERE ENERGY PARTNERS REGD 144A P/P 4.50000000</title>
        <cusip>16411QAE1</cusip>
        <identifiers>
          <isin value="US16411QAE17"/>
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        <balance>130000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>113100.00000000</valUSD>
        <pctVal>0.319247482908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QVC INC 4.75% 02/15/27</name>
        <lei>N/A</lei>
        <title>QVC INC REGD 4.75000000</title>
        <cusip>747262AY9</cusip>
        <identifiers>
          <isin value="US747262AY90"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30958.31000000</valUSD>
        <pctVal>0.087386052542</pctVal>
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        <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>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>YUM  BRANDS INC 7.75% 04/01/25</name>
        <lei>N/A</lei>
        <title>YUM  BRANDS INC REGD 144A P/P 7.75000000</title>
        <cusip>988498AM3</cusip>
        <identifiers>
          <isin value="US988498AM33"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10500.00000000</valUSD>
        <pctVal>0.029638360482</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>T/L DIAMOND SPORTS 0% 8/24/26</name>
        <lei>N/A</lei>
        <title>T/L DIAMOND SPORTS GROUP LLC   ZCP REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX180415"/>
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        <balance>124375.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97634.38000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>DEALER TIRE LLC/DT 8% 02/01/28</name>
        <lei>N/A</lei>
        <title>DEALER TIRE LLC/DT ISSR REGD 144A P/P 8.00000000</title>
        <cusip>24229JAA1</cusip>
        <identifiers>
          <isin value="US24229JAA16"/>
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        <balance>192000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>153600.00000000</valUSD>
        <pctVal>0.433566873339</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GULFPORT ENERG 6.625% 05/01/23</name>
        <lei>N/A</lei>
        <title>GULFPORT ENERGY CORP REGD 6.62500000</title>
        <cusip>402635AE6</cusip>
        <identifiers>
          <isin value="US402635AE62"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18200.00000000</valUSD>
        <pctVal>0.051373158169</pctVal>
        <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>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BUILDERS FIRSTS 6.75% 06/01/27</name>
        <lei>N/A</lei>
        <title>BUILDERS FIRSTSOURCE INC REGD 144A P/P 6.75000000</title>
        <cusip>12008RAM9</cusip>
        <identifiers>
          <isin value="US12008RAM97"/>
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        <balance>113000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110740.00000000</valUSD>
        <pctVal>0.312585908552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OASIS PETROLEU 6.875% 03/15/22</name>
        <lei>N/A</lei>
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        <cusip>674215AG3</cusip>
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          <isin value="US674215AG39"/>
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        <curCd>USD</curCd>
        <valUSD>48585.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMMERCIAL MET 5.375% 07/15/27</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS CO REGD 5.37500000</title>
        <cusip>201723AL7</cusip>
        <identifiers>
          <isin value="US201723AL70"/>
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        <balance>55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50600.00000000</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>2027-07-15</maturityDt>
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      <invstOrSec>
        <name>STAPLES INC 7.5% 04/15/26</name>
        <lei>N/A</lei>
        <title>STAPLES INC REGD 144A P/P 7.50000000</title>
        <cusip>855030AN2</cusip>
        <identifiers>
          <isin value="US855030AN20"/>
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        <balance>66000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58327.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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      <invstOrSec>
        <name>AMERICAN AIRLINES  5% 06/01/22</name>
        <lei>N/A</lei>
        <title>AMERICAN AIRLINES GROUP REGD 144A P/P 5.00000000</title>
        <cusip>02376RAC6</cusip>
        <identifiers>
          <isin value="US02376RAC60"/>
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        <balance>110000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88275.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HERTZ CORP 7.125% 08/01/26</name>
        <lei>N/A</lei>
        <title>HERTZ CORP REGD 144A P/P 7.12500000</title>
        <cusip>428040CY3</cusip>
        <identifiers>
          <isin value="US428040CY37"/>
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        <balance>68000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36020.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WORKIVA INC 1.125% 08/15/26</name>
        <lei>529900RTOQ8GRWHY1O58</lei>
        <title>WORKIVA INC REGD 144A P/P CONVERTIBLE 1.12500000</title>
        <cusip>98139AAA3</cusip>
        <identifiers>
          <isin value="US98139AAA34"/>
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        <balance>135000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107146.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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              <title>WORKIVA INC</title>
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      <invstOrSec>
        <name>ENLINK MIDSTRE 5.375% 06/01/29</name>
        <lei>N/A</lei>
        <title>ENLINK MIDSTREAM LLC REGD 5.37500000</title>
        <cusip>29336TAA8</cusip>
        <identifiers>
          <isin value="US29336TAA88"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2600.00000000</valUSD>
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        <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>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>ASBURY AUTOMOTI 4.75% 03/01/30</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>ASBURY AUTOMOTIVE GROUP REGD 144A P/P 4.75000000</title>
        <cusip>043436AT1</cusip>
        <identifiers>
          <isin value="US043436AT19"/>
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        <balance>67000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56950.00000000</valUSD>
        <pctVal>0.160752821853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>M/I HOMES INC 4.95% 02/01/28</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>M/I HOMES INC REGD 144A P/P 4.95000000</title>
        <cusip>55305BAR2</cusip>
        <identifiers>
          <isin value="US55305BAR24"/>
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        <balance>195000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>165506.25000000</valUSD>
        <pctVal>0.467174657100</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FTS INTERNATION 6.25% 05/01/22</name>
        <lei>549300LIZ1UTOOLOZV47</lei>
        <title>FTS INTERNATIONAL INC REGD 6.25000000</title>
        <cusip>30283WAB0</cusip>
        <identifiers>
          <isin value="US30283WAB00"/>
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        <balance>296000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>102860.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>SPRINT CORP 7.125% 06/15/24</name>
        <lei>N/A</lei>
        <title>SPRINT CORP REGD SER WI 7.12500000</title>
        <cusip>85207UAH8</cusip>
        <identifiers>
          <isin value="US85207UAH86"/>
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        <balance>435000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>477477.75000000</valUSD>
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        <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>
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      <invstOrSec>
        <name>VISTAJET MALTA/ 10.5% 06/01/24</name>
        <lei>N/A</lei>
        <title>VISTAJET MALTA/XO MGMT REGD 144A P/P 10.50000000</title>
        <cusip>92840JAA7</cusip>
        <identifiers>
          <isin value="US92840JAA79"/>
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        <balance>170000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137487.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OLIN CORP 5% 02/01/30</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>OLIN CORP REGD 5.00000000</title>
        <cusip>680665AK2</cusip>
        <identifiers>
          <isin value="US680665AK27"/>
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        <balance>134000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115092.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NATIONSTAR MTG HLD 6% 01/15/27</name>
        <lei>N/A</lei>
        <title>NATIONSTAR MTG HLD INC REGD 144A P/P 6.00000000</title>
        <cusip>63861CAA7</cusip>
        <identifiers>
          <isin value="US63861CAA71"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25500.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>BAYTEX ENERGY C 8.75% 04/01/27</name>
        <lei>N/A</lei>
        <title>BAYTEX ENERGY CORP REGD 144A P/P 8.75000000</title>
        <cusip>07317QAH8</cusip>
        <identifiers>
          <isin value="US07317QAH83"/>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116357.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>BROOKFIELD RES 4.875% 02/15/30</name>
        <lei>N/A</lei>
        <title>BROOKFIELD RESID PROPERT REGD 144A P/P 4.87500000</title>
        <cusip>11283YAD2</cusip>
        <identifiers>
          <isin value="US11283YAD22"/>
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        <balance>55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41783.50000000</valUSD>
        <pctVal>0.117942327162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>GFL ENVIRONMEN 5.125% 12/15/26</name>
        <lei>N/A</lei>
        <title>GFL ENVIRONMENTAL INC REGD 144A P/P 5.12500000</title>
        <cusip>36168QAF1</cusip>
        <identifiers>
          <isin value="US36168QAF19"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48750.00000000</valUSD>
        <pctVal>0.137606673667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
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      <invstOrSec>
        <name>BEAZER HOMES U 5.875% 10/15/27</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>BEAZER HOMES USA REGD SER WI 5.87500000</title>
        <cusip>07556QBR5</cusip>
        <identifiers>
          <isin value="US07556QBR56"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>94375.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>STATION CASINOS  4.5% 02/15/28</name>
        <lei>N/A</lei>
        <title>STATION CASINOS LLC REGD 144A P/P 4.50000000</title>
        <cusip>857691AG4</cusip>
        <identifiers>
          <isin value="US857691AG41"/>
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        <balance>137000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110970.00000000</valUSD>
        <pctVal>0.313235129781</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALBERTSONS COS 4.875% 02/15/30</name>
        <lei>N/A</lei>
        <title>ALBERTSONS COS/SAFEWAY REGD 144A P/P 4.87500000</title>
        <cusip>013092AE1</cusip>
        <identifiers>
          <isin value="US013092AE14"/>
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        <balance>70000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69825.00000000</valUSD>
        <pctVal>0.197095097206</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AKAMAI TECHNOL 0.125% 05/01/25</name>
        <lei>N/A</lei>
        <title>AKAMAI TECHNOLOGIES INC REGD CONVERTIBLE 0.12500000</title>
        <cusip>00971TAJ0</cusip>
        <identifiers>
          <isin value="US00971TAJ07"/>
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        <balance>103000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114950.78000000</valUSD>
        <pctVal>0.324471681461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>AKAMAI TECHNOLOGIES INC</name>
              <title>AKAMAI TECHNOLOGIES INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="00971T101"/>
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          <currencyInfos>
            <currencyInfo convRatio="11.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>OASIS PETROLEU 2.625% 09/15/23</name>
        <lei>N/A</lei>
        <title>OASIS PETROLEUM INC REGD CONVERTIBLE 2.62500000</title>
        <cusip>674215AJ7</cusip>
        <identifiers>
          <isin value="US674215AJ77"/>
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        <balance>185000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21252.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>OASIS PETROLEUM INC</name>
              <title>OASIS PETROLEUM INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="674215108"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="76.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>IRON MOUNTAIN  5.375% 06/01/26</name>
        <lei>N/A</lei>
        <title>IRON MOUNTAIN US HLDNGS REGD 144A P/P 5.37500000</title>
        <cusip>46289RAA3</cusip>
        <identifiers>
          <isin value="US46289RAA32"/>
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        <balance>155000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>156550.00000000</valUSD>
        <pctVal>0.441893841284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T/L WATERJET HOL 0% 04/21/2025</name>
        <lei>N/A</lei>
        <title>T/L WATERJET HOLDINGS INC REGD 0.00000000</title>
        <cusip>81946HAB5</cusip>
        <identifiers>
          <isin value="US81946HAB50"/>
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        <balance>233383.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>169202.68000000</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>2025-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>T/L SPECTACLE 0% 12/23/25</name>
        <lei>N/A</lei>
        <title>T/L SPECTACLE GARY HOLDINGS LLC REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX183155"/>
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        <balance>15600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13338.00000000</valUSD>
        <pctVal>0.037649185915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>CENTENE CORP 5.375% 06/01/26</name>
        <lei>N/A</lei>
        <title>CENTENE CORP REGD 144A P/P 5.37500000</title>
        <cusip>15137TAA8</cusip>
        <identifiers>
          <isin value="US15137TAA88"/>
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        <balance>38000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39144.18000000</valUSD>
        <pctVal>0.110492315963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDX NA HY 27 V3 05.000 NA 12/20/2021 XJPM FIXED</title>
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        <identifiers>
          <other otherDesc="CLIENT ID" value="BNR3STV48JPM"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3826.10000000</valUSD>
        <pctVal>-0.01079993628</pctVal>
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        <assetCat>DCR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JP MORGAN</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CDX NA HY 27 </issuerName>
                <issueTitle>CDX NA HY 27 </issueTitle>
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      </invstOrSec>
      <invstOrSec>
        <name>TALLGRASS NRG PRTN 6% 03/01/27</name>
        <lei>N/A</lei>
        <title>TALLGRASS NRG PRTNR/FIN REGD 144A P/P 6.00000000</title>
        <cusip>87470LAG6</cusip>
        <identifiers>
          <isin value="US87470LAG68"/>
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        <balance>267000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>141510.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NETFLIX INC 5.375% 11/15/29</name>
        <lei>N/A</lei>
        <title>NETFLIX INC REGD 144A P/P 5.37500000</title>
        <cusip>64110LAU0</cusip>
        <identifiers>
          <isin value="US64110LAU08"/>
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        <balance>340000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>352801.00000000</valUSD>
        <pctVal>0.995851734902</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>T/L DYNCORP INTERNA 0% 8/18/25</name>
        <lei>N/A</lei>
        <title>T/L DYNCORP INTERNATIONAL INC. ZCP REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX181987"/>
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        <balance>117000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>105592.50000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>MEG ENERGY COR 7.125% 02/01/27</name>
        <lei>5493002WXPTG5ZC1T326</lei>
        <title>MEG ENERGY CORP REGD 144A P/P 7.12500000</title>
        <cusip>552704AE8</cusip>
        <identifiers>
          <isin value="US552704AE86"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12353.00000000</valUSD>
        <pctVal>0.034868825432</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IRON MOUNTAIN I 5.75% 08/15/24</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRON MOUNTAIN INC REGD 5.75000000</title>
        <cusip>46284PAP9</cusip>
        <identifiers>
          <isin value="US46284PAP99"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199000.00000000</valUSD>
        <pctVal>0.561717498662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SYNCREON GROUP</name>
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      <invstOrSec>
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          <isin value="US64073KAA16"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GFL ENVIRONMENTAL  7% 06/01/26</name>
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          <isin value="US44485HAA23"/>
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        <fairValLevel>2</fairValLevel>
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        <name>KB HOME 6.875% 06/15/27</name>
        <lei>549300LGUCWQURMWLG09</lei>
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          <isin value="US48666KAX72"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SM ENERGY CO 6.75% 09/15/26</name>
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          <isin value="US78454LAN01"/>
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        <name>GREIF INC 6.5% 03/01/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDEN NUGGET I 8.75% 10/01/25</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MATTAMY GROUP  4.625% 03/01/30</name>
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        <name>JBS USA/FOOD/FIN 5.5% 01/15/30</name>
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        <lei>N/A</lei>
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        <cusip>85207UAE5</cusip>
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        <balance>102000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>JBS USA LUX/JBS 6.75% 02/15/28</name>
        <lei>N/A</lei>
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        <cusip>472141AA8</cusip>
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          <isin value="US472141AA82"/>
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        <curCd>USD</curCd>
        <valUSD>225242.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SYNCREON GROUP WT EX 10/01/24</name>
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          <other otherDesc="INTERNAL" value="334V0M"/>
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        <balance>1007.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <fairValLevel>3</fairValLevel>
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              <counterpartyName>N/A</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>SYNCREON GROUP </issuerName>
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      <invstOrSec>
        <name>APX GROUP INC 6.75% 02/15/27</name>
        <lei>N/A</lei>
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        <cusip>00213MAV6</cusip>
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          <isin value="US00213MAV63"/>
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        <curCd>USD</curCd>
        <valUSD>87150.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>EXTERRAN NRG S 8.125% 05/01/25</name>
        <lei>N/A</lei>
        <title>EXTERRAN NRG SOLUTIONS/F REGD SER WI 8.12500000</title>
        <cusip>30227KAE9</cusip>
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          <isin value="US30227KAE91"/>
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        <balance>89000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58740.00000000</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>2025-05-01</maturityDt>
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      <invstOrSec>
        <name>NOVA CHEMICALS COR 5% 05/01/25</name>
        <lei>N/A</lei>
        <title>NOVA CHEMICALS CORP REGD 144A P/P 5.00000000</title>
        <cusip>66977WAP4</cusip>
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          <isin value="US66977WAP41"/>
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        <balance>51000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42840.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>INSMED INC 1.75% 01/15/25</name>
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        <title>INSMED INC REGD CONVERTIBLE 1.75000000</title>
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          <isin value="US457669AA77"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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              <title>INSMED INC</title>
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          <currencyInfos>
            <currencyInfo convRatio="26.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>SHEA HOMES LP/F 4.75% 02/15/28</name>
        <lei>N/A</lei>
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        <cusip>82088KAE8</cusip>
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          <isin value="US82088KAE82"/>
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        <balance>70000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DISH NETWORK C 2.375% 03/15/24</name>
        <lei>N/A</lei>
        <title>DISH NETWORK CORP REGD CONVERTIBLE 2.37500000</title>
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          <isin value="US25470MAD11"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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              <title>DISH NETWORK CORP-A</title>
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      <invstOrSec>
        <name>HECLA MINING CO 7.25% 02/15/28</name>
        <lei>N/A</lei>
        <title>HECLA MINING CO REGD 7.25000000</title>
        <cusip>422704AH9</cusip>
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          <isin value="US422704AH97"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ASHTEAD CAPITA 4.125% 08/15/25</name>
        <lei>N/A</lei>
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          <isin value="US045054AD54"/>
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        <name>BAUSCH HEALTH C 5.25% 01/30/30</name>
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        <name>ENLINK MIDSTREAM 5.6% 04/01/44</name>
        <lei>N/A</lei>
        <title>ENLINK MIDSTREAM PARTNER REGD 5.60000000</title>
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          <isin value="US29336UAC18"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MDC PARTNERS INC 6.5% 05/01/24</name>
        <lei>529900SR4J92B5C43M74</lei>
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        <cusip>552697AQ7</cusip>
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        <name>INTESA SANPAOLO SPA V/R /PERP/</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>INTESA SANPAOLO SPA REGD V/R /PERP/ 144A P/P MTN 7.70000000</title>
        <cusip>46115HAU1</cusip>
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          <isin value="US46115HAU14"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>170000.00000000</valUSD>
        <pctVal>0.479859169711</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2169-03-17</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST QUANTUM M 7.25% 04/01/23</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>FIRST QUANTUM MINERALS L REGD 144A P/P 7.25000000</title>
        <cusip>335934AK1</cusip>
        <identifiers>
          <isin value="US335934AK15"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>168375.00000000</valUSD>
        <pctVal>0.475272280589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PARKLAND FUEL  5.875% 07/15/27</name>
        <lei>N/A</lei>
        <title>PARKLAND FUEL CORP REGD 144A P/P 5.87500000</title>
        <cusip>70137TAP0</cusip>
        <identifiers>
          <isin value="US70137TAP03"/>
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        <balance>104000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97489.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>MACQUARIE INFRASTR 2% 10/01/23</name>
        <lei>N/A</lei>
        <title>MACQUARIE INFRASTRUCTURE REGD CONVERTIBLE 2.00000000</title>
        <cusip>55608BAB1</cusip>
        <identifiers>
          <isin value="US55608BAB18"/>
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        <balance>64935.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51948.00000000</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>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>MACQUARIE INFRASTRUCTURE COR</name>
              <title>MACQUARIE INFRASTRUCTURE COR</title>
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                <cusip value="55608B105"/>
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            </dbtSecRefInstrument>
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          <currencyInfos>
            <currencyInfo convRatio="9.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>SURGERY CENTER HO 10% 04/15/27</name>
        <lei>N/A</lei>
        <title>SURGERY CENTER HOLDINGS REGD 144A P/P 10.00000000</title>
        <cusip>86881WAD4</cusip>
        <identifiers>
          <isin value="US86881WAD48"/>
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        <balance>293000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>205100.00000000</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>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SOTHEBY'S 7.375% 10/15/27</name>
        <lei>N/A</lei>
        <title>SOTHEBY'S REGD 144A P/P 7.37500000</title>
        <cusip>835898AH0</cusip>
        <identifiers>
          <isin value="US835898AH05"/>
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        <balance>280000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>222950.00000000</valUSD>
        <pctVal>0.629321187571</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CENTURYLINK INC 6.45% 06/15/21</name>
        <lei>N/A</lei>
        <title>CENTURYLINK INC REGD SER S 6.45000000</title>
        <cusip>156700AR7</cusip>
        <identifiers>
          <isin value="US156700AR77"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>152250.00000000</valUSD>
        <pctVal>0.429756226991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SCIENTIFIC GAME 7.25% 11/15/29</name>
        <lei>N/A</lei>
        <title>SCIENTIFIC GAMES INTERNA REGD 144A P/P 7.25000000</title>
        <cusip>80874YBE9</cusip>
        <identifiers>
          <isin value="US80874YBE95"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARGO AIRCRAFT  4.75% 02/01/28</name>
        <lei>N/A</lei>
        <title>CARGO AIRCRAFT MANAGEMEN REGD 144A P/P 4.75000000</title>
        <cusip>14180LAA4</cusip>
        <identifiers>
          <isin value="US14180LAA44"/>
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        <balance>33000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30607.50000000</valUSD>
        <pctVal>0.086395820805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>
        <name>US TREAS NTS V/R 01/31/21</name>
        <lei>N/A</lei>
        <title>UNITED STATES TREASURY FLOATING RATE NOTE V/R 0.20001800</title>
        <cusip>9128285Y2</cusip>
        <identifiers>
          <isin value="US9128285Y20"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>500148.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.20001800</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NETFLIX INC 4.875% 04/15/28</name>
        <lei>N/A</lei>
        <title>NETFLIX INC REGD 4.87500000</title>
        <cusip>64110LAS5</cusip>
        <identifiers>
          <isin value="US64110LAS51"/>
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        <balance>97000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99910.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CF INDUSTRIES  5.375% 03/15/44</name>
        <lei>N/A</lei>
        <title>CF INDUSTRIES INC REGD 5.37500000</title>
        <cusip>12527GAE3</cusip>
        <identifiers>
          <isin value="US12527GAE35"/>
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        <balance>157000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149547.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ALTICE FRANCE HOLD 6% 02/15/28</name>
        <lei>N/A</lei>
        <title>ALTICE FRANCE HOLDING SA REGD 144A P/P 6.00000000</title>
        <cusip>02156TAA2</cusip>
        <identifiers>
          <isin value="US02156TAA25"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>351872.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>NOVELIS CORP 4.75% 01/30/30</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 4.75000000</title>
        <cusip>670001AE6</cusip>
        <identifiers>
          <isin value="US670001AE60"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TAYLOR MORRISO 5.875% 06/15/27</name>
        <lei>N/A</lei>
        <title>TAYLOR MORRISON COMM REGD 144A P/P 5.87500000</title>
        <cusip>87724RAA0</cusip>
        <identifiers>
          <isin value="US87724RAA05"/>
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        <balance>22000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20432.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>OLIN CORP 5.625% 08/01/29</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>OLIN CORP REGD 5.62500000</title>
        <cusip>680665AL0</cusip>
        <identifiers>
          <isin value="US680665AL00"/>
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        <balance>59000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54294.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDX 2I65BRLR9 05.000 BP 12/20/2023 JPMSGB2LXXX FIXED</title>
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          <other otherDesc="CLIENT ID" value="Z92DT7ZZ2JPM"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2449.72000000</valUSD>
        <pctVal>0.006914827089</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CENTENE CORP 5.25% 04/01/25</name>
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          <isin value="US15135BAL53"/>
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        <name>BOMBARDIER INC 7.875% 04/15/27</name>
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        <cusip>097751BT7</cusip>
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          <isin value="US097751BT78"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US85207UAJ43"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FAGE INTL / FA 5.625% 08/15/26</name>
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          <isin value="US30257WAA45"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TRINSEO OP / T 5.375% 09/01/25</name>
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          <isin value="US89668QAE89"/>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TARGA RESOURCES PA 5% 01/15/28</name>
        <lei>N/A</lei>
        <title>TARGA RESOURCES PARTNERS REGD 5.00000000</title>
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          <isin value="US87612BBG68"/>
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        <balance>75000.00000000</balance>
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        <valUSD>60454.88000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GREAT WST PTRLM/GR 9% 09/30/21</name>
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        <cusip>39143GAA8</cusip>
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          <isin value="US39143GAA85"/>
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        <fairValLevel>2</fairValLevel>
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        <name>GENESIS ENERGY  7.75% 02/01/28</name>
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          <isin value="US37185LAL62"/>
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        <name>T-MOBILE USA INC 6.5% 01/15/26</name>
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          <isin value="US87264AAP03"/>
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        <name>ENDO DAC/FIN LLC/F 6% 02/01/25</name>
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        <name>CLEARWAY ENERGY 4.75% 03/15/28</name>
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        <name>MEG ENERGY CORP 7% 03/31/24</name>
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        <name>CSC HOLDINGS LLC 7.5% 04/01/28</name>
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          <isin value="US126307AY37"/>
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        <name>AMERICAN AIRLIN 3.75% 03/01/25</name>
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        <name>USA COM PART/U 6.875% 09/01/27</name>
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        <name>OPTION CARE HE WT EX 6/30/25</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T/L ENCINO ACQU 0% 10/29/25</name>
        <lei>N/A</lei>
        <title>T/L ENCINO ACQUISITION PARTNERS HOLD REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX175821"/>
        </identifiers>
        <balance>53731.33000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25522.38000000</valUSD>
        <pctVal>0.072042047505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>ISTAR INC 4.25% 08/01/25</name>
        <lei>N/A</lei>
        <title>ISTAR INC REGD 4.25000000</title>
        <cusip>45031UCG4</cusip>
        <identifiers>
          <isin value="US45031UCG40"/>
        </identifiers>
        <balance>105000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86352.00000000</valUSD>
        <pctVal>0.243745876605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>FREEDOM MORTGAG 8.25% 04/15/25</name>
        <lei>549300LYRWPSYPK6S325</lei>
        <title>FREEDOM MORTGAGE CORP REGD 144A P/P 8.25000000</title>
        <cusip>35640YAB3</cusip>
        <identifiers>
          <isin value="US35640YAB39"/>
        </identifiers>
        <balance>152000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>119320.00000000</valUSD>
        <pctVal>0.336804683117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</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>BEAZER HOMES US 7.25% 10/15/29</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>BEAZER HOMES USA REGD SER WI 7.25000000</title>
        <cusip>07556QBT1</cusip>
        <identifiers>
          <isin value="US07556QBT13"/>
        </identifiers>
        <balance>85000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64600.00000000</valUSD>
        <pctVal>0.182346484490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Pioneer Variable Contracts Trust /MA/</ncom:nameOfApplicant>
      <ncom:signature>Mark E. Bradley </ncom:signature>
      <ncom:signerName>Mark E. Bradley </ncom:signerName>
      <ncom:title>Treasurer and Chief Accounting and Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
