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        <name>DRAFTKINGS INC ZCP 03/15/28</name>
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        <name>VIKING OCEAN C 5.625% 02/15/29</name>
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      <invstOrSec>
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        <name>SENSATA TECHNOLOGI 4% 04/15/29</name>
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        <name>T/L GRUPO AEROMEXIC 0% 8/19/22</name>
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        <name>AIR CANADA 4% 07/01/25</name>
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        <name>TRAVEL + LEISU 6.625% 07/31/26</name>
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        <name>GLOBAL AIR LEASE 6.5% 09/15/24</name>
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      </invstOrSec>
      <invstOrSec>
        <name>MURPHY OIL USA  3.75% 02/15/31</name>
        <lei>N/A</lei>
        <title>MURPHY OIL USA INC REGD 144A P/P 3.75000000</title>
        <cusip>626738AF5</cusip>
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          <isin value="US626738AF53"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110687.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SEASPAN CORP 6.5% 04/29/26</name>
        <lei>N/A</lei>
        <title>SEASPAN CORP REGD 144A P/P 6.50000000</title>
        <cusip>Y75638AE9</cusip>
        <identifiers>
          <isin value="NO0010981939"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>215000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-29</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>INGEVITY CORP 3.875% 11/01/28</name>
        <lei>5493009UTFC4B5IMGF87</lei>
        <title>INGEVITY CORP REGD 144A P/P 3.87500000</title>
        <cusip>45688CAB3</cusip>
        <identifiers>
          <isin value="US45688CAB37"/>
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        <balance>218000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>217455.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LCM INVESTMENT 4.875% 05/01/29</name>
        <lei>549300P5V78NNQTG4428</lei>
        <title>LCM INVESTMENTS HOLDINGS REGD 144A P/P SER SEP 4.87500000</title>
        <cusip>50190EAB0</cusip>
        <identifiers>
          <isin value="US50190EAB02"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112867.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHWESTERN E 5.375% 03/15/30</name>
        <lei>EFWMP121W54QV9MGOP87</lei>
        <title>SOUTHWESTERN ENERGY CO REGD 5.37500000</title>
        <cusip>845467AS8</cusip>
        <identifiers>
          <isin value="US845467AS85"/>
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        <balance>265000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>286083.40000000</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>2030-03-15</maturityDt>
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      <invstOrSec>
        <name>CARRIAGE PURCH 7.875% 10/15/29</name>
        <lei>N/A</lei>
        <title>CARRIAGE PURCHASER INC REGD 144A P/P 7.87500000</title>
        <cusip>14445LAA5</cusip>
        <identifiers>
          <isin value="US14445LAA52"/>
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        <balance>295000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>294122.38000000</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>2029-10-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SIRIUS XM RADIO IN 4% 07/15/28</name>
        <lei>N/A</lei>
        <title>SIRIUS XM RADIO INC REGD 144A P/P 4.00000000</title>
        <cusip>82967NBJ6</cusip>
        <identifiers>
          <isin value="US82967NBJ63"/>
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        <balance>88000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>89485.00000000</valUSD>
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        <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>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DCP MIDSTREAM  5.375% 07/15/25</name>
        <lei>N/A</lei>
        <title>DCP MIDSTREAM OPERATING REGD 5.37500000</title>
        <cusip>23311VAG2</cusip>
        <identifiers>
          <isin value="US23311VAG23"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>221000.00000000</valUSD>
        <pctVal>0.479260168030</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>GFL ENVIRONMEN 4.375% 08/15/29</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL ENVIRONMENTAL INC REGD 144A P/P 4.37500000</title>
        <cusip>36168QAP9</cusip>
        <identifiers>
          <isin value="US36168QAP90"/>
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        <balance>170000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>LIONS GATE CAPIT 5.5% 04/15/29</name>
        <lei>N/A</lei>
        <title>LIONS GATE CAPITAL HOLD REGD 144A P/P 5.50000000</title>
        <cusip>53627NAE1</cusip>
        <identifiers>
          <isin value="US53627NAE13"/>
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        <balance>145000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149896.65000000</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>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>FAGE INTL / FA 5.625% 08/15/26</name>
        <lei>N/A</lei>
        <title>FAGE INTL / FAGE  USA REGD P/P 5.62500000</title>
        <cusip>30257WAA4</cusip>
        <identifiers>
          <isin value="US30257WAA45"/>
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        <balance>253000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>260109.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>ENLINK MIDSTREA 5.45% 06/01/47</name>
        <lei>N/A</lei>
        <title>ENLINK MIDSTREAM PARTNER REGD 5.45000000</title>
        <cusip>29336UAG2</cusip>
        <identifiers>
          <isin value="US29336UAG22"/>
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        <balance>99000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95519.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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      <invstOrSec>
        <name>DIAMOND SPORTS 6.625% 08/15/27</name>
        <lei>N/A</lei>
        <title>DIAMOND SPORTS GR/DIAMON REGD 144A P/P 6.62500000</title>
        <cusip>25277LAC0</cusip>
        <identifiers>
          <isin value="US25277LAC00"/>
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        <balance>111000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48562.50000000</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>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>PGT INNOVATION 4.375% 10/01/29</name>
        <lei>549300LRW9WM59C1S579</lei>
        <title>PGT INNOVATIONS INC REGD 144A P/P 4.37500000</title>
        <cusip>69336VAB7</cusip>
        <identifiers>
          <isin value="US69336VAB71"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20150.00000000</valUSD>
        <pctVal>0.043697250614</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>STAPLES INC 7.5% 04/15/26</name>
        <lei>N/A</lei>
        <title>STAPLES INC REGD 144A P/P 7.50000000</title>
        <cusip>855030AN2</cusip>
        <identifiers>
          <isin value="US855030AN20"/>
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        <balance>91000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>92365.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>T/L SURGERY CENT 0% 09/03/26</name>
        <lei>N/A</lei>
        <title>T/L SURGERY CENTER HOLDINGS    INC. REGD 0.00000000</title>
        <cusip>86880NAX1</cusip>
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          <isin value="US86880NAX12"/>
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        <balance>24875.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24945.82000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>VIKING CRUISES  6.25% 05/15/25</name>
        <lei>N/A</lei>
        <title>VIKING CRUISES LTD REGD P/P 6.25000000</title>
        <cusip>92676XAC1</cusip>
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          <isin value="US92676XAC11"/>
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        <balance>69000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69172.50000000</valUSD>
        <pctVal>0.150007348294</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>OUTFRONT MEDIA  6.25% 06/15/25</name>
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        <name>VISTRA OPERATI 5.625% 02/15/27</name>
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        <name>PARTY CITY HOLD 8.75% 02/15/26</name>
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        <name>SEAWORLD PARKS  5.25% 08/15/29</name>
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        <name>OCCIDENTAL PETRO 4.4% 04/15/46</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
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        <cusip>674599CJ2</cusip>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLOBAL PART/GLP FI 7% 08/01/27</name>
        <lei>N/A</lei>
        <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>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUPERIOR ENERGY SERVICES INC</name>
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        <curCd>USD</curCd>
        <valUSD>80432.00000000</valUSD>
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        <name>SPECTRUM BRANDS 5.75% 07/15/25</name>
        <lei>N/A</lei>
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          <isin value="US84762LAU98"/>
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        <name>PROVIDENT FDG/ 6.375% 06/15/25</name>
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        <name>TRONOX INC 6.5% 05/01/25</name>
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          <isin value="US897051AB46"/>
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        <name>NETFLIX INC 3.625% 06/15/25</name>
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        <name>ARCHROCK PARTNE 6.25% 04/01/28</name>
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        <name>MOHEGAN GAMING &amp; E 8% 02/01/26</name>
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        <name>MAV ACQUISITION CO 8% 08/01/29</name>
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        <name>FORD MOTOR CRE 4.134% 08/04/25</name>
        <lei>N/A</lei>
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          <isin value="US345397XL24"/>
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        <curCd>USD</curCd>
        <valUSD>317250.00000000</valUSD>
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      <invstOrSec>
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        <name>CORELOGIC INC 4.5% 05/01/28</name>
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      <invstOrSec>
        <name>LITHIA MOTORS  3.875% 06/01/29</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
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        <name>LORENZ RE 2019V/R 6/30/22</name>
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        <invCountry>BM</invCountry>
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      <invstOrSec>
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        <name>GYP HOLDINGS I 4.625% 05/01/29</name>
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        <name>ADAPTHEALTH LL 5.125% 03/01/30</name>
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        <name>P&amp;L DEV LLC/PLD 7.75% 11/15/25</name>
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        <name>UNITED WHOLESALE 5.5% 04/15/29</name>
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        <name>NCR CORP 5% 10/01/28</name>
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        <name>NOVELIS CORP 3.25% 11/15/26</name>
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        <name>WESCO DISTRIBU 7.125% 06/15/25</name>
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        <lei>N/A</lei>
        <title>QVC INC REGD 4.37500000</title>
        <cusip>747262AZ6</cusip>
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          <isin value="US747262AZ65"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160231.25000000</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>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>NRG ENERGY INC 3.625% 02/15/31</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG ENERGY INC REGD 144A P/P 3.62500000</title>
        <cusip>629377CR1</cusip>
        <identifiers>
          <isin value="US629377CR16"/>
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        <balance>85000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83491.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <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>
        <cusip>02406PAY6</cusip>
        <identifiers>
          <isin value="US02406PAY60"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>213720.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SUMMIT MATERIALS 6.5% 03/15/27</name>
        <lei>N/A</lei>
        <title>SUMMIT MATERIALS LLC/FIN REGD 144A P/P 6.50000000</title>
        <cusip>86614RAM9</cusip>
        <identifiers>
          <isin value="US86614RAM97"/>
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        <balance>112000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117460.00000000</valUSD>
        <pctVal>0.254723526411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</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>
        <name>ASBURY AUTOMOTIV 4.5% 03/01/28</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>ASBURY AUTOMOTIVE GROUP REGD SER WI 4.50000000</title>
        <cusip>043436AU8</cusip>
        <identifiers>
          <isin value="US043436AU81"/>
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        <balance>93000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>95615.63000000</valUSD>
        <pctVal>0.207351868326</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>4.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MEG ENERGY COR 7.125% 02/01/27</name>
        <lei>5493002WXPTG5ZC1T326</lei>
        <title>MEG ENERGY CORP REGD 144A P/P 7.12500000</title>
        <cusip>552704AE8</cusip>
        <identifiers>
          <isin value="US552704AE86"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26245.25000000</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>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>NCL FINANCE LT 6.125% 03/15/28</name>
        <lei>N/A</lei>
        <title>NCL FINANCE LTD REGD 144A P/P 6.12500000</title>
        <cusip>62888HAA7</cusip>
        <identifiers>
          <isin value="US62888HAA77"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41500.00000000</valUSD>
        <pctVal>0.089996818883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTICE FRANCE HOLD 6% 02/15/28</name>
        <lei>N/A</lei>
        <title>ALTICE FRANCE HOLDING SA REGD 144A P/P 6.00000000</title>
        <cusip>02156TAA2</cusip>
        <identifiers>
          <isin value="US02156TAA25"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>190733.00000000</valUSD>
        <pctVal>0.413623210990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US ACUTE CARE  6.375% 03/01/26</name>
        <lei>N/A</lei>
        <title>US ACUTE CARE SOLUTIONS REGD 144A P/P 6.37500000</title>
        <cusip>90367UAA9</cusip>
        <identifiers>
          <isin value="US90367UAA97"/>
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        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84700.00000000</valUSD>
        <pctVal>0.183680254444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREEDOM MORTGA 8.125% 11/15/24</name>
        <lei>549300LYRWPSYPK6S325</lei>
        <title>FREEDOM MORTGAGE CORP REGD 144A P/P 8.12500000</title>
        <cusip>35640YAA5</cusip>
        <identifiers>
          <isin value="US35640YAA55"/>
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        <balance>69000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69948.75000000</valUSD>
        <pctVal>0.151690722527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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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>228137.00000000</valUSD>
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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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      <invstOrSec>
        <name>LCM INVESTMENT 4.875% 05/01/29</name>
        <lei>549300P5V78NNQTG4428</lei>
        <title>LCM INVESTMENTS HOLDINGS REGD 144A P/P 4.87500000</title>
        <cusip>50190EAA2</cusip>
        <identifiers>
          <isin value="US50190EAA29"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>164171.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AVATION CAPITAL 8.25% 10/31/26</name>
        <lei>N/A</lei>
        <title>AVATION CAPITAL SA REGD 144A P/P MTN 8.25000000</title>
        <cusip>05351CAA5</cusip>
        <identifiers>
          <isin value="US05351CAA53"/>
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        <balance>361250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>305256.25000000</valUSD>
        <pctVal>0.661978107091</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDX 2I65BRYP9 05.000 NA 06/20/2026 CHASUS33 FLOAT</title>
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          <other otherDesc="CLIENT ID" value="CDX1010178"/>
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        <curCd>USD</curCd>
        <valUSD>-193242.77000000</valUSD>
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        <assetCat>DCR</assetCat>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP MORGAN MORGAN SECURITIES LL</counterpartyName>
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      <invstOrSec>
        <name>QVC INC 4.75% 02/15/27</name>
        <lei>N/A</lei>
        <title>QVC INC REGD 4.75000000</title>
        <cusip>747262AY9</cusip>
        <identifiers>
          <isin value="US747262AY90"/>
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        <balance>77000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>81620.00000000</valUSD>
        <pctVal>0.177000972464</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>313690.00000000</valUSD>
        <pctVal>0.680267520857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HAT HOLDINGS I 3.375% 06/15/26</name>
        <lei>N/A</lei>
        <title>HAT HOLDINGS I LLC/HAT REGD 144A P/P 3.37500000</title>
        <cusip>418751AE3</cusip>
        <identifiers>
          <isin value="US418751AE33"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TRIMAS CORP 4.125% 04/15/29</name>
        <lei>75G1WUQ8QK4P5MZOYD78</lei>
        <title>TRIMAS CORP REGD 144A P/P 4.12500000</title>
        <cusip>896215AH3</cusip>
        <identifiers>
          <isin value="US896215AH37"/>
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        <balance>210000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>214725.00000000</valUSD>
        <pctVal>0.465652215295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MACQUARIE INFRASTR 2% 10/01/23</name>
        <lei>529900IZSJ64GH477714</lei>
        <title>MACQUARIE INFRASTRUCTURE REGD CONVERTIBLE 2.00000000</title>
        <cusip>55608BAB1</cusip>
        <identifiers>
          <isin value="US55608BAB18"/>
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        <balance>935.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>925.00000000</valUSD>
        <pctVal>0.002005953191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>MACQUARIE INFRASTRUCTURE HOL</name>
              <title>MACQUARIE INFRASTRUCTURE HOL</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="55608B105"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="13.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BUILDERS FIRSTS 6.75% 06/01/27</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>BUILDERS FIRSTSOURCE INC REGD 144A P/P 6.75000000</title>
        <cusip>12008RAM9</cusip>
        <identifiers>
          <isin value="US12008RAM97"/>
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        <balance>142000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>150520.00000000</valUSD>
        <pctVal>0.326417377791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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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>T/L GRUPO AEROMEXIC 0% 8/19/22</name>
        <lei>N/A</lei>
        <title>T/L GRUPO AEROMEXICO SOCIEDAD  ANONIMA BURSATIL DE CAPITAL    VARIABLE REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX189588"/>
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        <balance>41619.71000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42712.23000000</valUSD>
        <pctVal>0.092625658492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD RES 4.875% 02/15/30</name>
        <lei>N/A</lei>
        <title>BROOKFIELD RESID PROPERT REGD 144A P/P 4.87500000</title>
        <cusip>11283YAD2</cusip>
        <identifiers>
          <isin value="US11283YAD22"/>
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        <balance>83000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84660.00000000</valUSD>
        <pctVal>0.183593510522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <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>ENTEGRIS INC 3.625% 05/01/29</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>ENTEGRIS INC REGD 144A P/P 3.62500000</title>
        <cusip>29362UAD6</cusip>
        <identifiers>
          <isin value="US29362UAD63"/>
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        <balance>170000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>173423.38000000</valUSD>
        <pctVal>0.376085602892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</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>WATCO COS LLC/FI 6.5% 06/15/27</name>
        <lei>N/A</lei>
        <title>WATCO COS LLC/FINANCE CO REGD 144A P/P 6.50000000</title>
        <cusip>941130AB2</cusip>
        <identifiers>
          <isin value="US941130AB21"/>
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        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80250.00000000</valUSD>
        <pctVal>0.174029993142</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>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMMIT HOTEL PRO 1.5% 02/15/26</name>
        <lei>254900OBQWJK6X20LS71</lei>
        <title>SUMMIT HOTEL PROPERTIES REGD CONVERTIBLE 1.50000000</title>
        <cusip>866082AA8</cusip>
        <identifiers>
          <isin value="US866082AA86"/>
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        <balance>63000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66167.70000000</valUSD>
        <pctVal>0.143491144887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>SUMMIT HOTEL PROPERTIES INC</name>
              <title>SUMMIT HOTEL PROPERTIES INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="866082100"/>
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          <currencyInfos>
            <currencyInfo convRatio="83.00000000" 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>SCIENTIFIC GAMES I 7% 05/15/28</name>
        <lei>N/A</lei>
        <title>SCIENTIFIC GAMES INTERNA REGD 144A P/P 7.00000000</title>
        <cusip>80874YBC3</cusip>
        <identifiers>
          <isin value="US80874YBC30"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>107875.00000000</valUSD>
        <pctVal>0.233937514146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEVA PHARMACEUTI 2.8% 07/21/23</name>
        <lei>N/A</lei>
        <title>TEVA PHARMACEUTICALS NE REGD 2.80000000</title>
        <cusip>88167AAD3</cusip>
        <identifiers>
          <isin value="US88167AAD37"/>
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        <balance>456000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>453282.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>PRIME SECSRVC B 5.75% 04/15/26</name>
        <lei>N/A</lei>
        <title>PRIME SECSRVC BRW/FINANC REGD 144A P/P 5.75000000</title>
        <cusip>74166MAC0</cusip>
        <identifiers>
          <isin value="US74166MAC01"/>
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        <balance>120000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129811.25000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>NRG ENERGY INC 3.875% 02/15/32</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG ENERGY INC REGD 144A P/P 3.87500000</title>
        <cusip>629377CS9</cusip>
        <identifiers>
          <isin value="US629377CS98"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177300.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <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>77000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80850.00000000</valUSD>
        <pctVal>0.175331151969</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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <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>
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        <curCd>USD</curCd>
        <valUSD>36500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>ISTAR INC 4.75% 10/01/24</name>
        <lei>QFFLKWYYS3UPWD86E794</lei>
        <title>ISTAR INC REGD 4.75000000</title>
        <cusip>45031UCF6</cusip>
        <identifiers>
          <isin value="US45031UCF66"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206212.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MODIVCARE ESCROW I 5% 10/01/29</name>
        <lei>N/A</lei>
        <title>MODIVCARE ESCROW ISSUER REGD 144A P/P 5.00000000</title>
        <cusip>60783XAA2</cusip>
        <identifiers>
          <isin value="US60783XAA28"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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      </invstOrSec>
      <invstOrSec>
        <name>GENESIS ENERGY LP/ 8% 01/15/27</name>
        <lei>N/A</lei>
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          <isin value="US37185LAM46"/>
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        <curCd>USD</curCd>
        <valUSD>81216.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CARNIVAL CORP 7.625% 03/01/26</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
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        <cusip>143658BL5</cusip>
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          <isin value="US143658BL56"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69387.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITI GRP/UNITI HL 6% 01/15/30</name>
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          <isin value="US91327AAB89"/>
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        <units>NS</units>
        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CENTRAL GARDEN 4.125% 04/30/31</name>
        <lei>5493004DVZLD37DJ0H83</lei>
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        <cusip>153527AP1</cusip>
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          <isin value="US153527AP10"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66009.19000000</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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      <invstOrSec>
        <name>CCO HLDGS LLC/ 5.125% 05/01/27</name>
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          <isin value="US1248EPBT92"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUMMIT MATERIAL 5.25% 01/15/29</name>
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        <cusip>86614RAN7</cusip>
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          <isin value="US86614RAN70"/>
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        <curCd>USD</curCd>
        <valUSD>10500.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AAG FH LP/AAG F 9.75% 07/15/24</name>
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        <cusip>00033AAA6</cusip>
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          <isin value="US00033AAA60"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LIFEPOINT HEAL 5.375% 01/15/29</name>
        <lei>N/A</lei>
        <title>LIFEPOINT HEALTH INC REGD 144A P/P 5.37500000</title>
        <cusip>53219LAU3</cusip>
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          <isin value="US53219LAU35"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72937.50000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <name>HEXION INC 7.875% 07/15/27</name>
        <lei>N/A</lei>
        <title>HEXION INC REGD 144A P/P 7.87500000</title>
        <cusip>42829LAF1</cusip>
        <identifiers>
          <isin value="US42829LAF13"/>
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        <balance>103000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>109952.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <title>CDX 2I65BRYB0 05.000 NA 12/20/2021 JP MORGAN CH FIXED</title>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <isin value="US08265TAC36"/>
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              <title>BENTLEY SYSTEMS</title>
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        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <cusip>629377CQ3</cusip>
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          <isin value="US629377CQ33"/>
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        <name>KRATON POLYMERS 4.25% 12/15/25</name>
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          <isin value="US50076XAC56"/>
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        <name>ARCOSA INC 4.375% 04/15/29</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>ARCOSA INC REGD 144A P/P 4.37500000</title>
        <cusip>039653AA8</cusip>
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          <isin value="US039653AA89"/>
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      <invstOrSec>
        <name>SOUTHWESTERN E 5.375% 02/01/29</name>
        <lei>EFWMP121W54QV9MGOP87</lei>
        <title>SOUTHWESTERN ENERGY CO REGD 144A P/P 5.37500000</title>
        <cusip>845467AQ2</cusip>
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          <isin value="US845467AQ20"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>LOGMEIN INC 5.5% 09/01/27</name>
        <lei>N/A</lei>
        <title>LOGMEIN INC REGD 144A P/P 5.50000000</title>
        <cusip>541056AA5</cusip>
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          <isin value="US541056AA53"/>
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        <curCd>USD</curCd>
        <valUSD>203726.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VISTRA OPERATI 4.375% 05/01/29</name>
        <lei>N/A</lei>
        <title>VISTRA OPERATIONS CO LLC REGD 144A P/P 4.37500000</title>
        <cusip>92840VAH5</cusip>
        <identifiers>
          <isin value="US92840VAH50"/>
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        <balance>90000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>90225.00000000</valUSD>
        <pctVal>0.195661758644</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INSMED INC 1.75% 01/15/25</name>
        <lei>529900Q55QAG41CCAC11</lei>
        <title>INSMED INC REGD CONVERTIBLE 1.75000000</title>
        <cusip>457669AA7</cusip>
        <identifiers>
          <isin value="US457669AA77"/>
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        <balance>81000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83796.10000000</valUSD>
        <pctVal>0.181720058670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>INSMED INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="457669307"/>
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            </dbtSecRefInstrument>
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          <currencyInfos>
            <currencyInfo convRatio="26.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>SPIRIT AIRLINES IN 1% 05/15/26</name>
        <lei>549300DCAFIXFNFR3304</lei>
        <title>SPIRIT AIRLINES INC REGD CONVERTIBLE 1.00000000</title>
        <cusip>848577AB8</cusip>
        <identifiers>
          <isin value="US848577AB85"/>
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        <balance>219000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>205184.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>SPIRIT AIRLINES INC</name>
              <title>SPIRIT AIRLINES INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="N/A"/>
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          <currencyInfos>
            <currencyInfo convRatio="20.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>HCRX INVESTMENTS 4.5% 08/01/29</name>
        <lei>N/A</lei>
        <title>HCRX INVESTMENTS HOLDCO REGD 144A P/P 4.50000000</title>
        <cusip>40390FAA8</cusip>
        <identifiers>
          <isin value="US40390FAA84"/>
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        <balance>90000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>90450.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>OUTFRONT MEDIA  4.25% 01/15/29</name>
        <lei>N/A</lei>
        <title>OUTFRONT MEDIA CAP LLC/C REGD 144A P/P 4.25000000</title>
        <cusip>69007TAE4</cusip>
        <identifiers>
          <isin value="US69007TAE47"/>
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        <balance>70000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69380.50000000</valUSD>
        <pctVal>0.150458416687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>
        <name>T/L ENTERPRISE 0% 02/19/28</name>
        <lei>N/A</lei>
        <title>T/L ENTERPRISE DEVELOPMENT     AUTHORITY REGD 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LOANX" value="LX192685"/>
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        <balance>173211.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>173856.46000000</valUSD>
        <pctVal>0.377024779333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP V/R /PERP/</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP REGD V/R /PERP/ SER G 7.12500000</title>
        <cusip>29273VAM2</cusip>
        <identifiers>
          <isin value="US29273VAM28"/>
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        <balance>220000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>229075.00000000</valUSD>
        <pctVal>0.496771597246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2170-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>ENLINK MIDSTREAM 5.6% 04/01/44</name>
        <lei>N/A</lei>
        <title>ENLINK MIDSTREAM PARTNER REGD 5.60000000</title>
        <cusip>29336UAC1</cusip>
        <identifiers>
          <isin value="US29336UAC18"/>
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        <balance>116000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110780.00000000</valUSD>
        <pctVal>0.240237291467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>GARDA WORLD SECU 9.5% 11/01/27</name>
        <lei>N/A</lei>
        <title>GARDA WORLD SECURITY COR REGD 144A P/P 9.50000000</title>
        <cusip>36257BAA7</cusip>
        <identifiers>
          <isin value="US36257BAA70"/>
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        <balance>206000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>222197.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>HARVEST MIDSTREA 7.5% 09/01/28</name>
        <lei>549300DW5M17KJOXCY66</lei>
        <title>HARVEST MIDSTREAM I LP REGD 144A P/P 7.50000000</title>
        <cusip>417558AA1</cusip>
        <identifiers>
          <isin value="US417558AA18"/>
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        <balance>273000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>290785.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SRS DISTRIBUTI 6.125% 07/01/29</name>
        <lei>N/A</lei>
        <title>SRS DISTRIBUTION INC REGD 144A P/P 6.12500000</title>
        <cusip>78471RAC0</cusip>
        <identifiers>
          <isin value="US78471RAC07"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36050.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>TOPBUILD CORP 3.625% 03/15/29</name>
        <lei>5493007YSKHOL4RWII46</lei>
        <title>TOPBUILD CORP REGD 144A P/P 3.62500000</title>
        <cusip>89055FAB9</cusip>
        <identifiers>
          <isin value="US89055FAB94"/>
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        <balance>240000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>241572.00000000</valUSD>
        <pctVal>0.523872567020</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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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>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>113931.44000000</valUSD>
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        <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>4.75000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>RACKSPACE TECH 5.375% 12/01/28</name>
        <lei>N/A</lei>
        <title>RACKSPACE TECHNOLOGY REGD 144A P/P 5.37500000</title>
        <cusip>750098AA3</cusip>
        <identifiers>
          <isin value="US750098AA35"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>147375.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LUMEN TECHNOLOGI 4.5% 01/15/29</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>LUMEN TECHNOLOGIES INC REGD 144A P/P 4.50000000</title>
        <cusip>156700BD7</cusip>
        <identifiers>
          <isin value="US156700BD72"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>193796.00000000</valUSD>
        <pctVal>0.420265626803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>PBF LOGISTICS  6.875% 05/15/23</name>
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        <name>SEASPAN CORP 5.5% 08/01/29</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DELEK LOG PART 7.125% 06/01/28</name>
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        <name>COMMSCOPE INC 8.25% 03/01/27</name>
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        <name>BATH &amp; BODY WO 6.625% 10/01/30</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
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      <invstOrSec>
        <name>PENN NATIONAL  5.625% 01/15/27</name>
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        <name>ALTICE FRANCE  5.125% 07/15/29</name>
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        <invCountry>FR</invCountry>
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        <name>CLEARWAY ENERGY 3.75% 02/15/31</name>
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          <isin value="US18539UAD72"/>
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        <name>HEALTHEQUITY INC 4.5% 10/01/29</name>
        <lei>529900LRJU1RAFQHM467</lei>
        <title>HEALTHEQUITY INC REGD 144A P/P 4.50000000</title>
        <cusip>42226AAA5</cusip>
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          <isin value="US42226AAA51"/>
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        <name>T/L COMMSCOPE INC 0% 04/06/26</name>
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        <name>KEN GARFF AUTO 4.875% 09/15/28</name>
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        <name>COLGATE ENERGY  7.75% 02/15/26</name>
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        <name>DIEBOLD NIXDORF  8.5% 04/15/24</name>
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        <name>DYCOM INDUSTRIES 4.5% 04/15/29</name>
        <lei>549300F56EKTHQI3WT60</lei>
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        <name>VERINT SYSTEMS  0.25% 04/15/26</name>
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        <title>VERINT SYSTEMS INC REGD 144A P/P CONVERTIBLE 0.25000000</title>
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          <isin value="US92343XAB64"/>
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      <invstOrSec>
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      <invstOrSec>
        <name>M/I HOMES INC 3.95% 02/15/30</name>
        <lei>5299005M71FH9CCSFB69</lei>
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        <cusip>55305BAT8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEACON ROOFING 4.125% 05/15/29</name>
        <lei>549300HDXQWWCBOYXP31</lei>
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        <cusip>073685AH2</cusip>
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        <valUSD>134156.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KENNEDY-WILSON  4.75% 02/01/30</name>
        <lei>N/A</lei>
        <title>KENNEDY-WILSON INC REGD 4.75000000</title>
        <cusip>489399AN5</cusip>
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          <isin value="US489399AN56"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HILCORP ENERGY I/H 6% 02/01/31</name>
        <lei>N/A</lei>
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          <isin value="US431318AV64"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-01</maturityDt>
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      <invstOrSec>
        <name>CLEVELAND-CLIF 9.875% 10/17/25</name>
        <lei>549300TM2WLI2BJMDD86</lei>
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        <cusip>185899AJ0</cusip>
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          <isin value="US185899AJ02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>BROOKFIELD RESI 6.25% 09/15/27</name>
        <lei>N/A</lei>
        <title>BROOKFIELD RESID PROPERT REGD 144A P/P 6.25000000</title>
        <cusip>11283YAB6</cusip>
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          <isin value="US11283YAB65"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NCR CORP 5.25% 10/01/30</name>
        <lei>549300YKTY8JX1DV2R67</lei>
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        <cusip>62886EAZ1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>BUILDERS FIRSTS 4.25% 02/01/32</name>
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      <invstOrSec>
        <name>COMMSCOPE TECH LLC 6% 06/15/25</name>
        <lei>N/A</lei>
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        <cusip>20337YAA5</cusip>
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        <name>ATKORE INC 4.25% 06/01/31</name>
        <lei>52990002TI38AM4RPV48</lei>
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        <cusip>047649AA6</cusip>
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        <balance>70000.00000000</balance>
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        <valUSD>72100.00000000</valUSD>
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        <name>PRECISION DRIL 6.875% 01/15/29</name>
        <lei>549300WF2OE8T5BP4B84</lei>
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        <cusip>740212AM7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>ASCENT RESOURC 5.875% 06/30/29</name>
        <lei>N/A</lei>
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        <cusip>04364VAU7</cusip>
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        <name>AMERICAN AIRLINE 5.5% 04/20/26</name>
        <lei>N/A</lei>
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        <cusip>00253XAA9</cusip>
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        <name>NETFLIX INC 4.875% 04/15/28</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC REGD 4.87500000</title>
        <cusip>64110LAS5</cusip>
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        <name>ENLINK MIDSTRE 5.375% 06/01/29</name>
        <lei>54930000GY1H533OBE23</lei>
        <title>ENLINK MIDSTREAM LLC REGD 5.37500000</title>
        <cusip>29336TAA8</cusip>
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          <isin value="US29336TAA88"/>
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        <balance>5000.00000000</balance>
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        <name>ENTERCOM MEDIA  6.75% 03/31/29</name>
        <lei>N/A</lei>
        <title>ENTERCOM MEDIA CORP REGD 144A P/P 6.75000000</title>
        <cusip>29365DAB5</cusip>
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          <isin value="US29365DAB55"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOMBARDIER INC 6% 02/15/28</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC REGD 144A P/P 6.00000000</title>
        <cusip>097751BX8</cusip>
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          <isin value="US097751BX80"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232587.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>LEGACY LIFEPOIN 6.75% 04/15/25</name>
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          <isin value="US53219LAT61"/>
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      <invstOrSec>
        <name>ALLEGHENY TECH 5.125% 10/01/31</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
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          <isin value="US01741RAM43"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <other otherDesc="INTERNAL" value="334V0M"/>
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          <isin value="US203372AX50"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MPT OPER PARTN 4.625% 08/01/29</name>
        <lei>N/A</lei>
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        <cusip>55342UAJ3</cusip>
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          <isin value="US55342UAJ34"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>OPTION CARE HE WT EX 6/30/25</name>
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      <invstOrSec>
        <name>T/L SPECTACLE 0% 12/23/25</name>
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        <name>US RENAL CARE 10.625% 07/15/27</name>
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          <isin value="US07335BAA44"/>
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        <name>ISTAR INC 4.25% 08/01/25</name>
        <lei>QFFLKWYYS3UPWD86E794</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TALEN ENERGY S 7.625% 06/01/28</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOMBARDIER INC 7.125% 06/15/26</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
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        <cusip>097751BV2</cusip>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREEDOM MORTGAG 8.25% 04/15/25</name>
        <lei>549300LYRWPSYPK6S325</lei>
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        <cusip>35640YAB3</cusip>
        <identifiers>
          <isin value="US35640YAB39"/>
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        <balance>118000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120360.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INSMED INC 0.75% 06/01/28</name>
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          <isin value="US457669AB50"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T/L MEDLINE IND 0% 08/06/2028</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FTS INTERNATIONAL INC-CL A</name>
        <lei>549300LIZ1UTOOLOZV47</lei>
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        <cusip>30283W302</cusip>
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          <isin value="US30283W3025"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>148780.80000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HESS MIDSTREAM  4.25% 02/15/30</name>
        <lei>N/A</lei>
        <title>HESS MIDSTREAM OPERATION REGD 144A P/P 4.25000000</title>
        <cusip>428102AE7</cusip>
        <identifiers>
          <isin value="US428102AE79"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70913.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>DCP MIDSTREAM O 4.95% 04/01/22</name>
        <lei>N/A</lei>
        <title>DCP MIDSTREAM OPERATING REGD 4.95000000</title>
        <cusip>23311VAB3</cusip>
        <identifiers>
          <isin value="US23311VAB36"/>
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        <balance>49000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49245.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LEEWARD RENEWAB 4.25% 07/01/29</name>
        <lei>N/A</lei>
        <title>LEEWARD RENEWABL REGD 144A P/P 4.25000000</title>
        <cusip>524590AA4</cusip>
        <identifiers>
          <isin value="US524590AA45"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71150.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NESCO HOLDINGS I 5.5% 04/15/29</name>
        <lei>N/A</lei>
        <title>NESCO HOLDINGS II INC REGD 144A P/P 5.50000000</title>
        <cusip>64083YAA9</cusip>
        <identifiers>
          <isin value="US64083YAA91"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108906.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITI GROUP/CSL  6.5% 02/15/29</name>
        <lei>N/A</lei>
        <title>UNITI GROUP/CSL CAPITAL REGD 144A P/P 6.50000000</title>
        <cusip>91327BAA8</cusip>
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          <isin value="US91327BAA89"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AETHON UN/AETHI 8.25% 02/15/26</name>
        <lei>N/A</lei>
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        <cusip>00810GAC8</cusip>
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          <isin value="US00810GAC87"/>
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        <name>GAP INC/THE 3.625% 10/01/29</name>
        <lei>T2ZG1WRWZ4BUCMQL9224</lei>
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        <cusip>364760AP3</cusip>
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        <name>PATRICK INDUSTRI 7.5% 10/15/27</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ROLLER BEARING 4.375% 10/15/29</name>
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      <invstOrSec>
        <name>PRIME HEALTHCAR 7.25% 11/01/25</name>
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      <invstOrSec>
        <name>TRANSOCEAN SEN 5.375% 05/15/23</name>
        <lei>N/A</lei>
        <title>TRANSOCEAN SENTRY LTD REGD P/P 5.37500000</title>
        <cusip>89385AAA3</cusip>
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          <isin value="US89385AAA34"/>
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        <balance>249041.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>244060.61000000</valUSD>
        <pctVal>0.529269361801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEWS CORP 3.875% 05/15/29</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>NEWS CORP REGD 144A P/P 3.87500000</title>
        <cusip>65249BAA7</cusip>
        <identifiers>
          <isin value="US65249BAA70"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82200.00000000</valUSD>
        <pctVal>0.178258759330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPECTRUM BRANDS  5.5% 07/15/30</name>
        <lei>N/A</lei>
        <title>SPECTRUM BRANDS INC REGD 144A P/P 5.50000000</title>
        <cusip>84762LAW5</cusip>
        <identifiers>
          <isin value="US84762LAW54"/>
        </identifiers>
        <balance>105000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>116287.50000000</valUSD>
        <pctVal>0.252180845202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRIFOLS ESCROW  4.75% 10/15/28</name>
        <lei>N/A</lei>
        <title>GRIFOLS ESCROW ISSUER REGD 144A P/P 4.75000000</title>
        <cusip>39843UAA0</cusip>
        <identifiers>
          <isin value="US39843UAA07"/>
        </identifiers>
        <balance>220000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>224609.00000000</valUSD>
        <pctVal>0.487086638376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVELIS CORP 3.875% 08/15/31</name>
        <lei>N/A</lei>
        <title>NOVELIS CORP REGD 144A P/P 3.87500000</title>
        <cusip>670001AH9</cusip>
        <identifiers>
          <isin value="US670001AH91"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>59343.00000000</valUSD>
        <pctVal>0.128691113807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="ISO country code not reported for forwards, swaps or supranationals." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-10-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Pioneer Variable Contracts Trust /MA/</ncom:nameOfApplicant>
      <ncom:signature>Anthony J. Koenig, Jr.</ncom:signature>
      <ncom:signerName>Anthony J. Koenig, Jr.</ncom:signerName>
      <ncom:title>Treasurer and Chief Accounting and Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
