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      <invstOrSec>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARSLEY ENERGY 5.625% 10/15/27</name>
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      <invstOrSec>
        <name>VIKING CRUISES 5.875% 09/15/27</name>
        <lei>N/A</lei>
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        <cusip>92676XAD9</cusip>
        <identifiers>
          <isin value="US92676XAD93"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DCP MIDSTREAM O 4.95% 04/01/22</name>
        <lei>N/A</lei>
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          <isin value="US23311VAB36"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US019576AA51"/>
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        <valUSD>101175.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BUILDERS FIRSTSOUR 5% 03/01/30</name>
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        <cusip>12008RAN7</cusip>
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          <isin value="US12008RAN70"/>
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        <valUSD>20700.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASBURY AUTOMOTI 4.75% 03/01/30</name>
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        <cusip>043436AT1</cusip>
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          <isin value="US043436AT19"/>
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        <curCd>USD</curCd>
        <valUSD>97727.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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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>
        <identifiers>
          <isin value="US80874YBA73"/>
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        <curCd>USD</curCd>
        <valUSD>252669.78000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
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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>
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          <isin value="US747262AY90"/>
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        <valUSD>143808.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CRE 4.125% 08/17/27</name>
        <lei>N/A</lei>
        <title>FORD MOTOR CREDIT CO LLC REGD 4.12500000</title>
        <cusip>345397A86</cusip>
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          <isin value="US345397A860"/>
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        <balance>320000.00000000</balance>
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        <name>TRI POINTE GROUP 5.7% 06/15/28</name>
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          <isin value="US87265HAG48"/>
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        <name>ENLINK MIDSTREAM 5.6% 04/01/44</name>
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          <isin value="US29336UAC18"/>
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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>CENOVUS ENERGY 5.375% 07/15/25</name>
        <lei>549300EIRQ0Z2B9C1W06</lei>
        <title>CENOVUS ENERGY INC REGD 5.37500000</title>
        <cusip>15135UAS8</cusip>
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          <isin value="US15135UAS87"/>
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        <invCountry>CA</invCountry>
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        <name>OLIN CORP 9.5% 06/01/25</name>
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        <title>OLIN CORP REGD 144A P/P 9.50000000</title>
        <cusip>680665AM8</cusip>
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          <isin value="US680665AM82"/>
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        <valUSD>46624.00000000</valUSD>
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      <invstOrSec>
        <name>MILEAGE PLUS HLD 6.5% 06/20/27</name>
        <lei>N/A</lei>
        <title>MILEAGE PLUS HLDINGS LLC REGD 144A P/P 6.50000000</title>
        <cusip>599191AA1</cusip>
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          <isin value="US599191AA16"/>
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        <valUSD>171806.25000000</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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        <name>ENDO DAC/FIN LLC/F 6% 06/30/28</name>
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        <name>TALLGRASS NRG PRTN 6% 03/01/27</name>
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        <name>ROYAL CARIBBEAN 11.5% 06/01/25</name>
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        <name>CCO HLDGS LLC/ 5.125% 05/01/27</name>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US48666KAX72"/>
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      <invstOrSec>
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        <name>WELLS FARGO &amp; COMPANY /PFD/CV</name>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMMSCOPE TECH LLC 6% 06/15/25</name>
        <lei>N/A</lei>
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          <isin value="US20337YAA55"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T/L TRICO GROUP LL 0% 02/02/24</name>
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          <other otherDesc="LOANX" value="LX189133"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FAGE INTL / FA 5.625% 08/15/26</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>INSMED INC 1.75% 01/15/25</name>
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          <isin value="US457669AA77"/>
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            <dbtSecRefInstrument>
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        <name>VISTRA CORP 5.625% 02/15/27</name>
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          <isin value="US42829LAF13"/>
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        <name>WATCO COS LLC/FI 6.5% 06/15/27</name>
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        <name>CHENIERE ENERG 4.625% 10/15/28</name>
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        <cusip>16411RAJ8</cusip>
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        <name>BEAZER HOMES US 7.25% 10/15/29</name>
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      <invstOrSec>
        <name>T-MOBILE USA INC 6.5% 01/15/26</name>
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          <isin value="US87264AAP03"/>
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      <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>
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          <isin value="US80874YBE95"/>
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      <invstOrSec>
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        <name>T/L DIAMOND SPORTS 0% 8/24/26</name>
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        <name>TERVITA CORP 7.625% 12/01/21</name>
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        <name>PROVIDENT FDG/ 6.375% 06/15/25</name>
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          <isin value="US74387UAJ07"/>
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        <name>INGLES MARKETS  5.75% 06/15/23</name>
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        <name>AIR CANADA 4% 07/01/25</name>
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        <name>HYATT HOTELS C 5.375% 04/23/25</name>
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      <invstOrSec>
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        <name>FORD MOTOR CRE 4.134% 08/04/25</name>
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        <name>GLOBAL AIR LEASE 6.5% 09/15/24</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>UNITI GRP/UNIT 7.875% 02/15/25</name>
        <lei>N/A</lei>
        <title>UNITI GRP/UNITI HLD/CSL REGD 144A P/P 7.87500000</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTESA SANPAOLO SPA V/R /PERP/</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
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        <cusip>46115HAU1</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>210000.00000000</valUSD>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLEVELAND-CLIFF 6.75% 03/15/26</name>
        <lei>549300TM2WLI2BJMDD86</lei>
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        <cusip>185899AG6</cusip>
        <identifiers>
          <isin value="US185899AG62"/>
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        <balance>320000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HARVEST MIDSTREA 7.5% 09/01/28</name>
        <lei>549300DW5M17KJOXCY66</lei>
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        <cusip>417558AA1</cusip>
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          <isin value="US417558AA18"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOGAN MERGER SUB 5.5% 09/01/27</name>
        <lei>N/A</lei>
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          <isin value="US541056AA53"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENERGIZER HOLDI 4.75% 06/15/28</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>ENERGIZER HOLDINGS INC REGD 144A P/P 4.75000000</title>
        <cusip>29272WAC3</cusip>
        <identifiers>
          <isin value="US29272WAC38"/>
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        <balance>112000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115908.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>ZENDESK INC 0.625% 06/15/25</name>
        <lei>549300SLI6BN94BKKO36</lei>
        <title>ZENDESK INC REGD 144A P/P CONVERTIBLE 0.62500000</title>
        <cusip>98936JAC5</cusip>
        <identifiers>
          <isin value="US98936JAC53"/>
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        <balance>108000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>128116.92000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>ANGI GROUP LLC 3.875% 08/15/28</name>
        <lei>N/A</lei>
        <title>ANGI GROUP LLC REGD 144A P/P 3.87500000</title>
        <cusip>001846AA2</cusip>
        <identifiers>
          <isin value="US001846AA20"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89100.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HYATT HOTELS C 4.375% 09/15/28</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>HYATT HOTELS CORP REGD 4.37500000</title>
        <cusip>448579AG7</cusip>
        <identifiers>
          <isin value="US448579AG79"/>
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        <balance>36000.00000000</balance>
        <units>NS</units>
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        <valUSD>37145.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JELD-WEN INC 6.25% 05/15/25</name>
        <lei>N/A</lei>
        <title>JELD-WEN INC REGD 144A P/P 6.25000000</title>
        <cusip>475795AE0</cusip>
        <identifiers>
          <isin value="US475795AE07"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>106500.00000000</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>SYNCREON GROUP WT EX 10/01/24</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="INTERNAL" value="334V0M"/>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>EDGEWELL PERSONA 5.5% 06/01/28</name>
        <lei>549300CY8QZDL4Z3RU59</lei>
        <title>EDGEWELL PERSONAL CARE REGD 144A P/P 5.50000000</title>
        <cusip>28035QAA0</cusip>
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          <isin value="US28035QAA04"/>
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      <invstOrSec>
        <name>AMERICAN AXLE &amp; 6.25% 03/15/26</name>
        <lei>N/A</lei>
        <title>AMERICAN AXLE &amp; MFG INC REGD 6.25000000</title>
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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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          <isin value="US37954FAD69"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>TRANSOCEAN INC 8% 02/01/27</name>
        <lei>N/A</lei>
        <title>TRANSOCEAN INC REGD 144A P/P 8.00000000</title>
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          <isin value="US893830BL24"/>
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        <balance>37000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10360.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MICHAELS STORES IN 8% 07/15/27</name>
        <lei>N/A</lei>
        <title>MICHAELS STORES INC REGD 144A P/P 8.00000000</title>
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          <isin value="US594087AU28"/>
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        <curCd>USD</curCd>
        <valUSD>317680.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>SCIENTIFIC GAMES I 7% 05/15/28</name>
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        <name>CLEARWAY ENERGY 4.75% 03/15/28</name>
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        <name>PENN NATIONAL  5.625% 01/15/27</name>
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          <isin value="US707569AS84"/>
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        <fairValLevel>2</fairValLevel>
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        <name>JB POINDEXTER  7.125% 04/15/26</name>
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        <name>DELEK LOG PART/ 6.75% 05/15/25</name>
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        <name>IRON MOUNTAIN IN 4.5% 02/15/31</name>
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        <name>UNITED RENTALS 3.875% 11/15/27</name>
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        <name>GARDA WORLD SECU 9.5% 11/01/27</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <name>ENTERPRISE DEVELO 12% 07/15/24</name>
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          <isin value="US29390WAA45"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TRANSOCEAN SEN 5.375% 05/15/23</name>
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        <cusip>89385AAA3</cusip>
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          <isin value="US89385AAA34"/>
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        <invCountry>KY</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>
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        <cusip>552704AD0</cusip>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GROUP 1 AUTOMOTIVE 4% 08/15/28</name>
        <lei>549300US8QAZJLWYAF63</lei>
        <title>GROUP 1 AUTOMOTIVE INC REGD 144A P/P 4.00000000</title>
        <cusip>398905AN9</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>PURE STORAGE I 0.125% 04/15/23</name>
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      <invstOrSec>
        <name>NCR CORP 8.125% 04/15/25</name>
        <lei>549300YKTY8JX1DV2R67</lei>
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        <cusip>62886EAX6</cusip>
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        <name>SENSATA TECHNOL 3.75% 02/15/31</name>
        <lei>N/A</lei>
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        <name>WORKIVA INC 1.125% 08/15/26</name>
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          <isin value="US98139AAB17"/>
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        <name>QUICKEN LOANS  3.875% 03/01/31</name>
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      <invstOrSec>
        <name>GLOBAL PART/GLP FI 7% 08/01/27</name>
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        <title>GLOBAL PART/GLP FINANCE REGD SER WI 7.00000000</title>
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          <isin value="US37954FAG90"/>
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        <curCd>USD</curCd>
        <valUSD>113123.43000000</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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        <securityLending>
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      <invstOrSec>
        <name>WESTERN GLOBA 10.375% 08/15/25</name>
        <lei>N/A</lei>
        <title>WESTERN GLOBAL AIRLINES REGD 144A P/P 10.37500000</title>
        <cusip>958278AA1</cusip>
        <identifiers>
          <isin value="US958278AA10"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255000.00000000</valUSD>
        <pctVal>0.640633392697</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCER INTL IN 7.375% 01/15/25</name>
        <lei>549300Z5IAG39VRTY874</lei>
        <title>MERCER INTL INC REGD SER WI 7.37500000</title>
        <cusip>588056AY7</cusip>
        <identifiers>
          <isin value="US588056AY72"/>
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        <balance>133000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>134662.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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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>173800.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2169-05-15</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <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>280000.00000000</valUSD>
        <pctVal>0.703440588060</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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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEPTUNE ENERGY 6.625% 05/15/25</name>
        <lei>N/A</lei>
        <title>NEPTUNE ENERGY BONDCO REGD 144A P/P 6.62500000</title>
        <cusip>64073KAA1</cusip>
        <identifiers>
          <isin value="US64073KAA16"/>
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        <balance>219000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>195330.48000000</valUSD>
        <pctVal>0.490726384704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORTERRA FIN LLC 6.5% 07/15/25</name>
        <lei>N/A</lei>
        <title>FORTERRA FIN LLC/FRTA FI REGD 144A P/P 6.50000000</title>
        <cusip>34962WAA2</cusip>
        <identifiers>
          <isin value="US34962WAA27"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42262.00000000</valUSD>
        <pctVal>0.106174307616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>114000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>113430.00000000</valUSD>
        <pctVal>0.284968806798</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PBF LOGISTICS  6.875% 05/15/23</name>
        <lei>N/A</lei>
        <title>PBF LOGISTICS LP/FINANCE REGD SER WI 6.87500000</title>
        <cusip>69318UAB1</cusip>
        <identifiers>
          <isin value="US69318UAB17"/>
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        <balance>135000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126900.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>146000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>154760.00000000</valUSD>
        <pctVal>0.388801662172</pctVal>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BOOZ ALLEN HAM 3.875% 09/01/28</name>
        <lei>N/A</lei>
        <title>BOOZ ALLEN HAMILTON INC REGD 144A P/P 3.87500000</title>
        <cusip>09951LAA1</cusip>
        <identifiers>
          <isin value="US09951LAA17"/>
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        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82124.00000000</valUSD>
        <pctVal>0.206319124478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>BAYTEX ENERGY C 8.75% 04/01/27</name>
        <lei>549300R5LTV2H7I1I079</lei>
        <title>BAYTEX ENERGY CORP REGD 144A P/P 8.75000000</title>
        <cusip>07317QAH8</cusip>
        <identifiers>
          <isin value="US07317QAH83"/>
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        <balance>245000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110556.25000000</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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <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>199750.00000000</valUSD>
        <pctVal>0.501829490946</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>
          <annualizedRt>7.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WILLIAMS SCOTS 4.625% 08/15/28</name>
        <lei>N/A</lei>
        <title>WILLIAMS SCOTSMAN INTL REGD 144A P/P 4.62500000</title>
        <cusip>96950GAE2</cusip>
        <identifiers>
          <isin value="US96950GAE26"/>
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        <balance>55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>55222.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ARCHROCK PARTN 6.875% 04/01/27</name>
        <lei>N/A</lei>
        <title>ARCHROCK PARTNERS LP/FIN REGD 144A P/P 6.87500000</title>
        <cusip>03959KAA8</cusip>
        <identifiers>
          <isin value="US03959KAA88"/>
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        <balance>152000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>145597.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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        <name>OUTFRONT MEDIA  6.25% 06/15/25</name>
        <lei>N/A</lei>
        <title>OUTFRONT MEDIA CAP LLC/C REGD 144A P/P 6.25000000</title>
        <cusip>69007TAD6</cusip>
        <identifiers>
          <isin value="US69007TAD63"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61800.00000000</valUSD>
        <pctVal>0.155259386936</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>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PATTERN ENERGY O 4.5% 08/15/28</name>
        <lei>N/A</lei>
        <title>PATTERN ENERGY OP LP/PAT REGD 144A P/P 4.50000000</title>
        <cusip>70339PAA7</cusip>
        <identifiers>
          <isin value="US70339PAA75"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25937.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTHWEST AIRLI 1.25% 05/01/25</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>SOUTHWEST AIRLINES CO REGD CONVERTIBLE 1.25000000</title>
        <cusip>844741BG2</cusip>
        <identifiers>
          <isin value="US844741BG22"/>
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        <balance>101000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>131805.00000000</valUSD>
        <pctVal>0.331132095390</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>1.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
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        <name>T/L TEAM HEALTH 0% 02/06/24</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="LOANX" value="LX156377"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOODYEAR TIRE &amp;  9.5% 05/31/25</name>
        <lei>N/A</lei>
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        <cusip>382550BH3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED RENTALS  5.25% 01/15/30</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOWMET AEROSPA 6.875% 05/01/25</name>
        <lei>549300HO5WFZUT5N2T22</lei>
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        <cusip>443201AA6</cusip>
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          <isin value="US443201AA64"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MACQUARIE INFRASTR 2% 10/01/23</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PALO ALTO NETW 0.375% 06/01/25</name>
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        <cusip>697435AE5</cusip>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>PALO ALTO NETWORKS INC</title>
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      <invstOrSec>
        <name>PRIME SECSRVC B 5.75% 04/15/26</name>
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        <cusip>74166MAC0</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEG ENERGY CORP 7% 03/31/24</name>
        <lei>5493002WXPTG5ZC1T326</lei>
        <title>MEG ENERGY CORP REGD P/P 7.00000000</title>
        <cusip>552704AC2</cusip>
        <identifiers>
          <isin value="US552704AC21"/>
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        <balance>163000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>151590.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>T/L BUILDERS FIRST 0% 02/29/24</name>
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        <title>T/L BUILDERS FIRSTSOURCE INC   REGD 0.00000000</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LOANX" value="LX159595"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <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>
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        <curCd>USD</curCd>
        <valUSD>75400.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CSC HOLDINGS LLC 7.5% 04/01/28</name>
        <lei>N/A</lei>
        <title>CSC HOLDINGS LLC REGD P/P 7.50000000</title>
        <cusip>126307AY3</cusip>
        <identifiers>
          <isin value="US126307AY37"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>220710.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <name>CENOVUS ENERGY  6.75% 11/15/39</name>
        <lei>549300EIRQ0Z2B9C1W06</lei>
        <title>CENOVUS ENERGY INC REGD 6.75000000</title>
        <cusip>15135UAF6</cusip>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BAUSCH HEALTH AM 8.5% 01/31/27</name>
        <lei>N/A</lei>
        <title>BAUSCH HEALTH AMERICAS REGD P/P 8.50000000</title>
        <cusip>91911XAW4</cusip>
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          <isin value="US91911XAW48"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CAESARS ENTERT 8.125% 07/01/27</name>
        <lei>N/A</lei>
        <title>CAESARS ENTERTAIN INC REGD 144A P/P 8.12500000</title>
        <cusip>28470RAK8</cusip>
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        <valUSD>219420.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELEMENT SOLUTI 3.875% 09/01/28</name>
        <lei>549300FLGN6P5CU20J91</lei>
        <title>ELEMENT SOLUTIONS INC REGD 144A P/P 3.87500000</title>
        <cusip>28618MAA4</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>BACM 2007-4 H V/R 02/10/51</name>
        <lei>N/A</lei>
        <title>BANC OF AMERICA COMMERCIAL MORTGAGE TRUST 2007-4 SER 2007-4 CL H V/R REGD 6.06124500</title>
        <cusip>059513AY7</cusip>
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        <balance>108951.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99183.01000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LIFEPOINT HEALT 6.75% 04/15/25</name>
        <lei>N/A</lei>
        <title>LIFEPOINT HEALTH INC REGD 144A P/P 6.75000000</title>
        <cusip>53219LAT6</cusip>
        <identifiers>
          <isin value="US53219LAT61"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68412.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>L BRANDS INC 6.625% 10/01/30</name>
        <lei>N/A</lei>
        <title>L BRANDS INC REGD 144A P/P 6.62500000</title>
        <cusip>501797AW4</cusip>
        <identifiers>
          <isin value="US501797AW48"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61050.00000000</valUSD>
        <pctVal>0.153375171075</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CLEVELAND-CLIF 9.875% 10/17/25</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLEVELAND-CLIFFS INC REGD 144A P/P 9.87500000</title>
        <cusip>185899AJ0</cusip>
        <identifiers>
          <isin value="US185899AJ02"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16743.75000000</valUSD>
        <pctVal>0.042065119094</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AKAMAI TECHNOL 0.125% 05/01/25</name>
        <lei>OC1LZNN2LF5WTJ5RIL89</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>132444.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>AKAMAI TECHNOLOGIES INC</name>
              <title>AKAMAI TECHNOLOGIES INC</title>
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              <identifiers>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="11.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONSTAR MTG H 5.5% 08/15/28</name>
        <lei>N/A</lei>
        <title>NATIONSTAR MTG HLD INC REGD 144A P/P 5.50000000</title>
        <cusip>63861CAC3</cusip>
        <identifiers>
          <isin value="US63861CAC38"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>59925.00000000</valUSD>
        <pctVal>0.150548847283</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>SINCLAIR TELEVIS 5.5% 03/01/30</name>
        <lei>N/A</lei>
        <title>SINCLAIR TELEVISION GROU REGD 144A P/P 5.50000000</title>
        <cusip>829259AY6</cusip>
        <identifiers>
          <isin value="US829259AY67"/>
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        <balance>230000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>213325.00000000</valUSD>
        <pctVal>0.535933798028</pctVal>
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        <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>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BEACON ROOFING 4.875% 11/01/25</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>BEACON ROOFING SUPPLY IN REGD 144A P/P 4.87500000</title>
        <cusip>073685AD1</cusip>
        <identifiers>
          <isin value="US073685AD12"/>
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        <balance>287000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>281260.00000000</valUSD>
        <pctVal>0.706606070706</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <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>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>301307.50000000</valUSD>
        <pctVal>0.756971160667</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>
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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>CSC HOLDINGS LLC 5.5% 05/15/26</name>
        <lei>N/A</lei>
        <title>CSC HOLDINGS LLC REGD 144A P/P 5.50000000</title>
        <cusip>126307AU1</cusip>
        <identifiers>
          <isin value="US126307AU15"/>
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        <balance>208000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>216320.00000000</valUSD>
        <pctVal>0.543458100032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESCO DISTRIBUT 7.25% 06/15/28</name>
        <lei>N/A</lei>
        <title>WESCO DISTRIBUTION INC REGD 144A P/P 7.25000000</title>
        <cusip>95081QAP9</cusip>
        <identifiers>
          <isin value="US95081QAP90"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65740.50000000</valUSD>
        <pctVal>0.165159057069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>
      <invstOrSec>
        <name>CLEARWAY ENERGY 5.75% 10/15/25</name>
        <lei>N/A</lei>
        <title>CLEARWAY ENERGY OP LLC REGD SER WI 5.75000000</title>
        <cusip>18539UAB1</cusip>
        <identifiers>
          <isin value="US18539UAB17"/>
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        <balance>137000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>143850.00000000</valUSD>
        <pctVal>0.361392602116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOVELIS CORP 5.875% 09/30/26</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 5.87500000</title>
        <cusip>670001AC0</cusip>
        <identifiers>
          <isin value="US670001AC05"/>
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        <balance>92000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>94530.00000000</valUSD>
        <pctVal>0.237486567104</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <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>14820.00000000</valUSD>
        <pctVal>0.037232105410</pctVal>
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        <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>
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      <invstOrSec>
        <name>LAMAR MEDIA COR 3.75% 02/15/28</name>
        <lei>N/A</lei>
        <title>LAMAR MEDIA CORP REGD 144A P/P 3.75000000</title>
        <cusip>513075BQ3</cusip>
        <identifiers>
          <isin value="US513075BQ35"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49750.00000000</valUSD>
        <pctVal>0.124986318771</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>3.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LORENZ RE 2019V/R 6/30/22</name>
        <lei>N/A</lei>
        <title>LORENZ RE 2019 /VARIABLE/ REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="332MLP"/>
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        <balance>25723.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2487.41000000</valUSD>
        <pctVal>0.006249089832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-30</maturityDt>
          <couponKind>Variable</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>
        <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>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125960.00000000</valUSD>
        <pctVal>0.316447773114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>STANDARD INDUSTRIE 5% 02/15/27</name>
        <lei>N/A</lei>
        <title>STANDARD INDUSTRIES INC REGD 144A P/P 5.00000000</title>
        <cusip>853496AC1</cusip>
        <identifiers>
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      <invstOrSec>
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      <invstOrSec>
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        <name>INTEGRA LIFESCIE 0.5% 08/15/25</name>
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      <invstOrSec>
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      <invstOrSec>
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        <name>GRAY TELEVISIO 5.875% 07/15/26</name>
        <lei>529900TM5726KDN7UU35</lei>
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        <name>DIEBOLD NIXDOR 9.375% 07/15/25</name>
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        <name>PENSKE AUTOMOTIV 3.5% 09/01/25</name>
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        <name>NOVA CHEMICALS  5.25% 06/01/27</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ENLINK MIDSTREA 5.05% 04/01/45</name>
        <lei>N/A</lei>
        <title>ENLINK MIDSTREAM PARTNER REGD 5.05000000</title>
        <cusip>29336UAD9</cusip>
        <identifiers>
          <isin value="US29336UAD90"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25400.00000000</valUSD>
        <pctVal>0.063812110488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HYATT HOTELS CO 5.75% 04/23/30</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>HYATT HOTELS CORP REGD 5.75000000</title>
        <cusip>448579AJ1</cusip>
        <identifiers>
          <isin value="US448579AJ19"/>
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        <balance>45000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51671.81000000</valUSD>
        <pctVal>0.129814458616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>TRIUMPH GROUP  8.875% 06/01/24</name>
        <lei>5493007L6S47Q14SL582</lei>
        <title>TRIUMPH GROUP INC REGD 144A P/P 8.87500000</title>
        <cusip>896818AS0</cusip>
        <identifiers>
          <isin value="US896818AS01"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37275.00000000</valUSD>
        <pctVal>0.093645528285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO V/R /PERP/</name>
        <lei>8I5DZWZKVSZI1NUHU748</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>106000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>103880.00000000</valUSD>
        <pctVal>0.260976458170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2169-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>EXACT SCIENCES 0.375% 03/01/28</name>
        <lei>549300VM3X1FYD4N9Z14</lei>
        <title>EXACT SCIENCES CORP REGD CONVERTIBLE 0.37500000</title>
        <cusip>30063PAC9</cusip>
        <identifiers>
          <isin value="US30063PAC95"/>
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        <balance>174000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>187878.44000000</valUSD>
        <pctVal>0.472004715419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>EXACT SCIENCES CORP</name>
              <title>EXACT SCIENCES CORP</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="30063P105"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="8.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUSTAR LOGISTI 6.375% 10/01/30</name>
        <lei>N/A</lei>
        <title>NUSTAR LOGISTICS LP REGD 6.37500000</title>
        <cusip>67059TAH8</cusip>
        <identifiers>
          <isin value="US67059TAH86"/>
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        <balance>135000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>140062.50000000</valUSD>
        <pctVal>0.351877312018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</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>JOSEPH T RYERSON 8.5% 08/01/28</name>
        <lei>N/A</lei>
        <title>JOSEPH T RYERSON &amp; SON I REGD 144A P/P 8.50000000</title>
        <cusip>48088LAB3</cusip>
        <identifiers>
          <isin value="US48088LAB36"/>
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        <balance>135000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142087.50000000</valUSD>
        <pctVal>0.356964694842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>58008.50000000</valUSD>
        <pctVal>0.145734047687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</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>
      <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>91000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84098.56000000</valUSD>
        <pctVal>0.211279787505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MPT OPER PARTN 4.625% 08/01/29</name>
        <lei>N/A</lei>
        <title>MPT OPER PARTNERSP/FINL REGD 4.62500000</title>
        <cusip>55342UAJ3</cusip>
        <identifiers>
          <isin value="US55342UAJ34"/>
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        <balance>146000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>151908.62000000</valUSD>
        <pctVal>0.381638174943</pctVal>
        <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>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NCR CORP 5.25% 10/01/30</name>
        <lei>549300YKTY8JX1DV2R67</lei>
        <title>NCR CORP REGD 144A P/P 5.25000000</title>
        <cusip>62886EAZ1</cusip>
        <identifiers>
          <isin value="US62886EAZ16"/>
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        <balance>45000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45000.00000000</valUSD>
        <pctVal>0.113052951652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DISH NETWORK C 3.375% 08/15/26</name>
        <lei>N/A</lei>
        <title>DISH NETWORK CORP REGD CONVERTIBLE 3.37500000</title>
        <cusip>25470MAB5</cusip>
        <identifiers>
          <isin value="US25470MAB54"/>
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        <balance>112000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>102815.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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            <dbtSecRefInstrument>
              <name>DISH NETWORK CORP-A</name>
              <title>DISH NETWORK CORP-A</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="25470M109"/>
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          <currencyInfos>
            <currencyInfo convRatio="15.00000000" curCd="USD"/>
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      <invstOrSec>
        <name>POWERTEAM SERV 9.033% 12/04/25</name>
        <lei>N/A</lei>
        <title>POWERTEAM SERVICES LLC REGD 144A P/P 9.03300000</title>
        <cusip>73939VAA2</cusip>
        <identifiers>
          <isin value="US73939VAA26"/>
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        <balance>300000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>316125.00000000</valUSD>
        <pctVal>0.794196985359</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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          <maturityDt>2025-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.03300000</annualizedRt>
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      <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="LX183154"/>
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        <balance>215400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>204630.00000000</valUSD>
        <pctVal>0.514089455481</pctVal>
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        <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>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WINNEBAGO INDUS 6.25% 07/15/28</name>
        <lei>549300B7OYKYJLTE3G11</lei>
        <title>WINNEBAGO INDUSTRIES REGD 144A P/P 6.25000000</title>
        <cusip>974637AC4</cusip>
        <identifiers>
          <isin value="US974637AC45"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31650.00000000</valUSD>
        <pctVal>0.079513909328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR CRE 3.815% 11/02/27</name>
        <lei>N/A</lei>
        <title>FORD MOTOR CREDIT CO LLC REGD 3.81500000</title>
        <cusip>345397YT4</cusip>
        <identifiers>
          <isin value="US345397YT41"/>
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        <balance>305000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>290604.00000000</valUSD>
        <pctVal>0.730080888045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TALEN ENERGY S 7.625% 06/01/28</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EXTERRAN NRG S 8.125% 05/01/25</name>
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      <invstOrSec>
        <name>CD&amp;R SMOKEY BUY 6.75% 07/15/25</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>WOLVERINE WORL 6.375% 05/15/25</name>
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      <invstOrSec>
        <name>T/L PG&amp;E CORPOR 0% 06/18/25</name>
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          <other otherDesc="LOANX" value="LX188801"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALPINE CORP 5.125% 03/15/28</name>
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        <cusip>131347CN4</cusip>
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      <invstOrSec>
        <name>WYNDHAM DESTIN 6.625% 07/31/26</name>
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      <invstOrSec>
        <name>DELTA AIR LINES 3.75% 10/28/29</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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        <cusip>247361ZT8</cusip>
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        <name>DEALER TIRE LLC/DT 8% 02/01/28</name>
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          <isin value="US24229JAA16"/>
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          <isin value="US70137TAP03"/>
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        <name>US TREAS NTS V/R 01/31/21</name>
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        <name>SURGERY CENTER HO 10% 04/15/27</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTURYLINK INC 4% 02/15/27</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>CENTURYLINK INC REGD 144A P/P 4.00000000</title>
        <cusip>156700BC9</cusip>
        <identifiers>
          <isin value="US156700BC99"/>
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        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>81272.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ENLINK MIDSTRE 5.375% 06/01/29</name>
        <lei>54930000GY1H533OBE23</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>4050.00000000</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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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>TRONOX INC 6.5% 05/01/25</name>
        <lei>N/A</lei>
        <title>TRONOX INC REGD 144A P/P 6.50000000</title>
        <cusip>897051AB4</cusip>
        <identifiers>
          <isin value="US897051AB46"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161587.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>PLASTIPAK HOLDI 6.25% 10/15/25</name>
        <lei>N/A</lei>
        <title>PLASTIPAK HOLDINGS INC REGD 144A P/P 6.25000000</title>
        <cusip>727610AN7</cusip>
        <identifiers>
          <isin value="US727610AN78"/>
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        <balance>14000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14000.00000000</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>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WESCO DISTRIBU 7.125% 06/15/25</name>
        <lei>N/A</lei>
        <title>WESCO DISTRIBUTION INC REGD 144A P/P 7.12500000</title>
        <cusip>95081QAN4</cusip>
        <identifiers>
          <isin value="US95081QAN43"/>
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        <balance>90000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98037.00000000</valUSD>
        <pctVal>0.246297160470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>7.12500000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <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>159494.00000000</valUSD>
        <pctVal>0.400694832686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HERC HOLDINGS IN 5.5% 07/15/27</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HERC HOLDINGS INC REGD 144A P/P 5.50000000</title>
        <cusip>42704LAA2</cusip>
        <identifiers>
          <isin value="US42704LAA26"/>
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        <balance>36000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37247.40000000</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>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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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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        <balance>125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126562.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>GREIF INC 6.5% 03/01/27</name>
        <lei>54930070FVGKR0Z1FI24</lei>
        <title>GREIF INC REGD 144A P/P 6.50000000</title>
        <cusip>397624AH0</cusip>
        <identifiers>
          <isin value="US397624AH07"/>
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        <balance>324000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>335657.52000000</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>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>REVANCE THERAPE 1.75% 02/15/27</name>
        <lei>549300N33TFDZHS81H11</lei>
        <title>REVANCE THERAPEUTICS INC REGD 144A P/P CONVERTIBLE 1.75000000</title>
        <cusip>761330AA7</cusip>
        <identifiers>
          <isin value="US761330AA71"/>
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        <balance>130000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137011.20000000</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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            <dbtSecRefInstrument>
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              <title>REVANCE THERAPEUTICS INC</title>
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          <currencyInfos>
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      <invstOrSec>
        <name>SIMMONS FOODS I 5.75% 11/01/24</name>
        <lei>5493002Z1TVWRIL6NM97</lei>
        <title>SIMMONS FOODS INC REGD 144A P/P 5.75000000</title>
        <cusip>82873LAA3</cusip>
        <identifiers>
          <isin value="US82873LAA35"/>
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        <curCd>USD</curCd>
        <valUSD>250260.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DYCOM INDUSTRIE 0.75% 09/15/21</name>
        <lei>549300F56EKTHQI3WT60</lei>
        <title>DYCOM INDUSTRIES INC REGD CONVERTIBLE 0.75000000</title>
        <cusip>267475AB7</cusip>
        <identifiers>
          <isin value="US267475AB73"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112268.75000000</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>HECLA MINING CO 7.25% 02/15/28</name>
        <lei>5493009Y6HOBZD1QD537</lei>
        <title>HECLA MINING CO REGD 7.25000000</title>
        <cusip>422704AH9</cusip>
        <identifiers>
          <isin value="US422704AH97"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140920.00000000</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>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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        <name>WEST STREET ME 6.375% 09/01/25</name>
        <lei>N/A</lei>
        <title>WEST STREET MERGER SUB REGD 144A P/P 6.37500000</title>
        <cusip>95616AAA1</cusip>
        <identifiers>
          <isin value="US95616AAA16"/>
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        <balance>169000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>172344.51000000</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>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>KOPPERS INC 6% 02/15/25</name>
        <lei>N/A</lei>
        <title>KOPPERS INC REGD 144A P/P 6.00000000</title>
        <cusip>500605AH3</cusip>
        <identifiers>
          <isin value="US500605AH33"/>
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        <balance>57000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57783.75000000</valUSD>
        <pctVal>0.145169411001</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TEVA PHARM FIN  0.25% 02/01/26</name>
        <lei>N/A</lei>
        <title>TEVA PHARM FIN CO LLC REGD SER C CONVERTIBLE 0.25000000</title>
        <cusip>88163VAE9</cusip>
        <identifiers>
          <isin value="US88163VAE92"/>
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        <balance>117000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>113546.05000000</valUSD>
        <pctVal>0.285260357799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRICIDA INC 3.5% 05/15/27</name>
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            <dbtSecRefInstrument>
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        <name>ALLIED UNIVERSA 9.75% 07/15/27</name>
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        <name>SEAWORLD PARKS &amp; 9.5% 08/01/25</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T/L GRUPO AEROMEXIC 0% 8/19/22</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IAMGOLD CORP 5.75% 10/15/28</name>
        <lei>N/A</lei>
        <title>IAMGOLD CORP REGD 144A P/P 5.75000000</title>
        <cusip>450913AF5</cusip>
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          <isin value="US450913AF55"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>223675.00000000</valUSD>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
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      <invstOrSec>
        <name>ROYAL CARIBBEA 9.125% 06/15/23</name>
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        <identifiers>
          <isin value="US780153BC56"/>
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        <curCd>USD</curCd>
        <valUSD>31800.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
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        <name>DCP MIDSTREAM  3.875% 03/15/23</name>
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          <isin value="US23311VAD91"/>
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        <curCd>USD</curCd>
        <valUSD>29550.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>VIKING CRUISES  6.25% 05/15/25</name>
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        <curCd>USD</curCd>
        <valUSD>54165.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
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        <name>IRB HOLDING CORP 7% 06/15/25</name>
        <lei>N/A</lei>
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        <valUSD>58643.75000000</valUSD>
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        <name>SHELF DRILL HOL 8.25% 02/15/25</name>
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        <cusip>822538AE4</cusip>
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        <invCountry>AE</invCountry>
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        <name>SURGERY CENTER  6.75% 07/01/25</name>
        <lei>N/A</lei>
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        <cusip>84611WAB0</cusip>
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      <invstOrSec>
        <name>BELDEN IN 3.875% 03/15/28/EUR/</name>
        <lei>68BKYO1JC791TTJHUE82</lei>
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        <cusip>N/A</cusip>
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        <name>DELTA AIR LINE 7.375% 01/15/26</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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        <cusip>247361ZZ4</cusip>
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        <balance>20000.00000000</balance>
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        <valUSD>20966.87000000</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>T/L SURGERY CENTER 0% 08/16/24</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>65699.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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"/>
        </identifiers>
        <balance>147000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>161700.00000000</valUSD>
        <pctVal>0.406236939604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="ISO country code not reported for forwards, swaps or supranationals." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-10-30</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>
