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        <fairValLevel>2</fairValLevel>
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        <name>Advanced Drainage Systems, Inc.</name>
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        <name>AI Candelaria -spain- SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Argentine Republic (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Builders FirstSource, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCUBS Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CD Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CD&amp;R Smokey Buyer, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CF Industries, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Community Health Systems, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CSC Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <name>Alternative Loan Trust</name>
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        <name>Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
        <title>Coterra Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>DRC International Bond</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dexko Global, Inc.</name>
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        <name>Diebold Nixdorf, Inc.</name>
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        <name>Digicel International Finance Ltd.</name>
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        <name>DISH Network Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dropbox, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Progress LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duquesne Light Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dycom Industries, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EMRLD Borrower LP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>EQT Corp.</name>
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        <name>EQT Corp.</name>
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        <name>Eagle Funding Luxco Sarl</name>
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        <name>EchoStar Corp.</name>
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        <title>EchoStar Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Ecopetrol SA</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENEL Finance International NV</name>
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        <title>ENEL Finance International NV</title>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ENEL Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>ENEL Finance International NV</title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ENEL Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>ENEL Finance International NV</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ENEL Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>ENEL Finance International NV</title>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Endo GUC Trust</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Endo Finance Holdings LP</name>
        <lei>N/A</lei>
        <title>Endo Finance Holdings LP</title>
        <cusip>29281RAA7</cusip>
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          <isin value="US29281RAA77"/>
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        <balance>223000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Entegris, Inc.</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris, Inc.</title>
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          <isin value="US29362UAC80"/>
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        <balance>200000.00000000</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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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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          <isin value="US29364GAQ64"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Entegris, Inc.</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris, Inc.</title>
        <cusip>29365BAB9</cusip>
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        <balance>6005000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Entergy Texas, Inc.</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas, Inc.</title>
        <cusip>29365TAK0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>EquipmentShare.com, Inc.</name>
        <lei>254900PWJK48CGPKPI80</lei>
        <title>EquipmentShare.com, Inc.</title>
        <cusip>29450YAA7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>EquipmentShare.com, Inc.</name>
        <lei>254900PWJK48CGPKPI80</lei>
        <title>EquipmentShare.com, Inc.</title>
        <cusip>29450YAB5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>EquipmentShare.com, Inc.</name>
        <lei>254900PWJK48CGPKPI80</lei>
        <title>EquipmentShare.com, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Esab Corp.</name>
        <lei>549300ZNV0SWBXEIWT04</lei>
        <title>Esab Corp.</title>
        <cusip>29605JAB2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Esentia Energy Development SAB de CV</name>
        <lei>254900Q2VJTZZLC8UL64</lei>
        <title>Esentia Energy Development SAB de CV</title>
        <cusip>29642EAB8</cusip>
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        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fair Isaac Corp.</name>
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        <name>FHLMC Pool</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137BTU58</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <cusip>3137F64R5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FEBT6</cusip>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K078, Class X3</title>
        <cusip>3137FGR64</cusip>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K088, Class X3</title>
        <cusip>3137FL6H2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K089, Class X3</title>
        <cusip>3137FL6S8</cusip>
        <identifiers>
          <isin value="US3137FL6S84"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>First Student Bidco, Inc.</name>
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        <name>Five9, Inc.</name>
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        <name>Flash Compute LLC</name>
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        <name>Fluor Corp.</name>
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        <fairValLevel>2</fairValLevel>
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              <title>Fluor Corp.</title>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ION Platform Finance US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ITC Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Jazz Investments I Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jazz Securities DAC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JELD-WEN Holding, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JetBlue Airways Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Kioxia Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LYB International Finance III LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <name>Level 3 Financing, Inc.</name>
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        <lei>254900AE5FEFIJOXWL19</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Perrigo Finance Unlimited Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Petronas Capital Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Philip Morris International, Inc.</name>
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        <name>Republic of Poland</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Prestige Brands, Inc.</name>
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        <name>ADT Security Corp. (The)</name>
        <lei>5493009JEEDYLVRA0J13</lei>
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        <name>Primo Water Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prudential Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indonesia Asahan Aluminium PT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Service Enterprise Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Qnity Electronics, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>QXO Building Products, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Mortgage LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Quikrete Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RD Michigan Property Owner I LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RHP Hotel Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>Radiology Partners, Inc.</name>
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        <name>Range Resources Corp.</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Telecom Italia Finance SA</name>
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        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Callaway Golf Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SBA Communications Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SV RNO Property Owner 1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Saavi Energia Sarl</name>
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        <name>Rocket Software, Inc.</name>
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        <name>San Diego Gas &amp; Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <lei>WP5O65E6BMU84LNO4227</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Snap, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <name>SoFi Technologies, Inc.</name>
        <lei>549300SW81JCMVZDDY09</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Solaris Energy Infrastructure LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Genesys Cloud Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Transocean International Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HUB International Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boxer Parent Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Quikrete Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trinidad Generation UnLtd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trinseo Luxco Finance SPV SARL</name>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <lei>549300DRQQI75D2JP341</lei>
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        <name>Truist Financial Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>WP Carey, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wix.com Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WR Grace Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wabash National Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chariot Buyer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wand NewCo 3, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Neon Maple US Debt Mergersub, Inc.</name>
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        <name>Sanmina Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PetSmart LLC</name>
        <lei>894500NGJMHSFNESGA67</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Altafiber Virginia LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TKO Worldwide Holdings LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCR Atleos LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AHP Health Partners, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Varsity Brands, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Weekley Homes LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dayforce Bidco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Welltower OP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
        <cusip>95081QAQ7</cusip>
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        <balance>803000.00000000</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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        <lei>549300I2CEZJG9N4AH67</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PAREXEL International Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Williams Scotsman, Inc.</name>
        <lei>549300DAKDS8SCO1OT57</lei>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300DAKDS8SCO1OT57</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>LSF12 Crown US Commercial Bidco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Belron Finance 2019 LLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Petco Health &amp; Wellness Co., Inc.</name>
        <lei>N/A</lei>
        <title>Petco Health &amp; Wellness Co., Inc., 1st Lien Term Loan</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First Student Bidco, Inc.</name>
        <lei>N/A</lei>
        <title>First Student Bidco, Inc., 1st Lien Term Loan B</title>
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          <isin value="US33718FAQ37"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>First Student Bidco, Inc.</name>
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          <isin value="US33718FAR10"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.94961000</annualizedRt>
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        <name>WULF Compute LLC</name>
        <lei>N/A</lei>
        <title>WULF Compute LLC</title>
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          <isin value="US982911AA70"/>
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        <balance>4032000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4236664.32000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
        <title>Wynn Resorts Finance LLC</title>
        <cusip>983133AA7</cusip>
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          <isin value="US983133AA70"/>
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        <balance>3544000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3517521.71000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
        <title>Wynn Resorts Finance LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
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          <isin value="US983793AK61"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Xerox Corp.</name>
        <lei>4KF48RN45X1OO8UBLY20</lei>
        <title>Xerox Corp.</title>
        <cusip>984121CS0</cusip>
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          <isin value="US984121CS05"/>
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        <balance>332000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290633.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>10.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Xerox Holdings Corp.</name>
        <lei>5493000Y33XDVO2CXC18</lei>
        <title>Xerox Holdings Corp.</title>
        <cusip>98421MAC0</cusip>
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          <isin value="US98421MAC01"/>
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        <balance>623000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280350.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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      <invstOrSec>
        <name>VSE Corp.</name>
        <lei>N/A</lei>
        <title>VSE Corp., 1st Lien Term Loan B</title>
        <cusip>92921UAB2</cusip>
        <identifiers>
          <isin value="US92921UAB26"/>
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        <balance>236266.98000000</balance>
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        <curCd>USD</curCd>
        <valUSD>236680.45000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.47409000</annualizedRt>
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        <name>Yinson Bergenia Production BV</name>
        <lei>549300JDIAWKPMZD5256</lei>
        <title>Yinson Bergenia Production BV</title>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Zoetis, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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              <title>Zoetis, Inc.</title>
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        <name>FGI Operating Co. LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Moran Foods LLC</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US61647DAL64"/>
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        <balance>25060.58510000</balance>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>Medline Borrower LP</name>
        <lei>N/A</lei>
        <title>Medline Borrower LP, 1st Lien Term Loan</title>
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        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="9903391"/>
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        <balance>278161.05890000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.41774000</annualizedRt>
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      <invstOrSec>
        <name>AWS Claire's LLC</name>
        <lei>N/A</lei>
        <title>AWS Claire's LLC, 1st Lien Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US05455VAB62"/>
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        <balance>145248.39250000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GB AIT Buyer, Inc.</name>
        <lei>N/A</lei>
        <title>GB AIT Buyer, Inc., 1st Lien Term Loan</title>
        <cusip>36832FAB0</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="993374"/>
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        <balance>507572.66000000</balance>
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        <curCd>USD</curCd>
        <valUSD>508364.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>P4 SFR</name>
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          <other otherDesc="Inhouse Asset ID" value="99T0GTS4O"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>ICITII</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="O1DA644"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Labl  dec33</name>
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          <other otherDesc="CINS" value="504917121"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>New Evhc Physical Equity</name>
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          <other otherDesc="Inhouse Asset ID" value="99TBZZ9H7"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Serta Simmons Bedding LLC</name>
        <lei>N/A</lei>
        <title>Serta Simmons Bedding LLC</title>
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          <other otherDesc="Inhouse Asset ID" value="99TETA9Q3"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SSB Equipment Co., Inc.</name>
        <lei>N/A</lei>
        <title>SSB Equipment Co., Inc.</title>
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          <other otherDesc="Inhouse Asset ID" value="99TETA9R4"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Altice France Sa</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="99TEZC9D4"/>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>New Par Health</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>New Par Health</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>New Keenova</name>
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          <other otherDesc="Inhouse Asset ID" value="99TEZGHK7"/>
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        <fairValLevel>2</fairValLevel>
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        <name>New Keenova</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Escrow Rite Aid</name>
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        <fairValLevel>3</fairValLevel>
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        <name>HCFT</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Incora Intermediate LLC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Multi-Color Corp.</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="PCED0C1"/>
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        <fairValLevel>3</fairValLevel>
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        <name>Kingdom of Morocco</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Australian Dollar</name>
        <lei>N/A</lei>
        <title>Australian Dollar</title>
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        <fairValLevel>1</fairValLevel>
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        <name>General Electric Co.</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
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          <isin value="XS0229567440"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Peru LNG Srl</name>
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        <name>KazMunayGas National Co. JSC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pro-Gest SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Islamic Republic of Pakistan</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Telenet Finance Luxembourg Notes SARL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CFAMC III Co. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KazMunayGas National Co. JSC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KazMunayGas National Co. JSC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AI Candelaria -spain- SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indonesia Asahan Aluminium PT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Renault SA</name>
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        <name>Veolia Environnement SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MV24 Capital BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ball Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brightstar Lottery plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Ziggo Bond Co. BV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Forvia SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NGG Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EDP SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Schaeffler AG</name>
        <lei>549300Q7E782X7GC1P43</lei>
        <title>Schaeffler AG</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isin value="FR00140005C6"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Forvia SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ziggo BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS Styrolution Ludwigshafen GmbH</name>
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          <isin value="XS2108560306"/>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Altice Financing SA</name>
        <lei>549300DIYGW8HVDF7Q17</lei>
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          <isin value="XS2102493389"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Romania</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BP Capital Markets plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BP Capital Markets plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>New Immo Holding SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Birkenstock Financing SARL</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Herens Midco SARL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Guala Closures SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UGI International LLC</name>
        <lei>5493001JFF8MQO00ZQ21</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>iliad SA</name>
        <lei>969500FZ9BTRZS3JNB97</lei>
        <title>iliad SA</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Telecom Italia SpA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Agrifarma SpA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AXA SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alpek SAB de CV</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-25</maturityDt>
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      <invstOrSec>
        <name>Volkswagen Leasing GmbH</name>
        <lei>5299004GLEUX88BSNB74</lei>
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          <isin value="XS2343822503"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-19</maturityDt>
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      <invstOrSec>
        <name>Grupo Antolin Irausa SA</name>
        <lei>213800OILC5Q9AR63B63</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2355632584"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Loxam SAS</name>
        <lei>969500BNA2YRNE1R5K91</lei>
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          <isin value="XS2401886788"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>AXA SA</name>
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          <isin value="XS2431029441"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-07-10</maturityDt>
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      <invstOrSec>
        <name>Phoenix PIB Dutch Finance BV</name>
        <lei>529900UUYBCBB7HMVI56</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2856820704"/>
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        <balance>1900000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-10</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Mobico Group plc</name>
        <lei>213800A8IQEMY8PA5X34</lei>
        <title>Mobico Group plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS2259808702"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.74255587"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Grifols SA</name>
        <lei>959800HSSNXWRKBK4N60</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2393001891"/>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>House of HR Group BV</name>
        <lei>724500AWBTX8I880X774</lei>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nomad Foods Bondco plc</name>
        <lei>213800BPK5X4TY4RZ619</lei>
        <title>Nomad Foods Bondco plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Studio City Finance Ltd.</name>
        <lei>254900D6R731QAUIG324</lei>
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        <invCountry>VG</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>EDP SA</name>
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        <invCountry>PT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CTEC II GmbH</name>
        <lei>98450044C9BACG3DA974</lei>
        <title>CTEC II GmbH</title>
        <cusip>N/A</cusip>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Cadent Finance plc</name>
        <lei>5493005M8TJ0J6IMUF67</lei>
        <title>Cadent Finance plc</title>
        <cusip>N/A</cusip>
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        <balance>6500000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Renault SA</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>EC Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VZ Vendor Financing II BV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Ecuador</name>
        <lei>5299003Y2U5XK0A35H71</lei>
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          <isin value="XS2214238441"/>
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        <curCd>USD</curCd>
        <valUSD>6845279.29000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>EC</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
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          <isin value="XS2223762381"/>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Rakuten Group, Inc.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>N/A</title>
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      <invstOrSec>
        <name>Kingdom of Morocco</name>
        <lei>529900F3MBW9XY5K1X07</lei>
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        <invCountry>MA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virgin Media Finance plc</name>
        <lei>2138001LVYC87DDHT482</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>TK Elevator Midco GmbH</name>
        <lei>254900K869UN2ZWVB351</lei>
        <title>TK Elevator Midco GmbH</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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        <name>IQVIA, Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS Finance plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Organon &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enel SpA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel SpA, Series 9.5Y</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Abertis Infraestructuras Finance BV</name>
        <lei>5493007WHKI5H75YJ358</lei>
        <title>Abertis Infraestructuras Finance BV</title>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ams-OSRAM AG</name>
        <lei>5299001JPPT2QFTV5D76</lei>
        <title>ams-OSRAM AG</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>ams-OSRAM AG</title>
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            <currencyInfo convRatio="6.48738700" curCd="EUR"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="USG98149AH33"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-26</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2202900424"/>
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        <balance>2400000.00000000</balance>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-29</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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            <dbtSecRefInstrument>
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              <curCd>EUR</curCd>
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          <currencyInfos>
            <currencyInfo convRatio="N/A" curCd="EUR"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>Romania</name>
        <lei>315700IASY927EDWBK92</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2201851685"/>
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        <curCd>USD</curCd>
        <valUSD>4047309.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>RO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Avantor Funding, Inc.</name>
        <lei>5493003VM0XB4U8YD238</lei>
        <title>Avantor Funding, Inc.</title>
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          <isin value="XS2205083749"/>
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        <balance>1135000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>888 Acquisitions Ltd.</name>
        <lei>254900RFD0BP3JOPZU89</lei>
        <title>888 Acquisitions Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3183180937"/>
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        <balance>1267000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GI</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3183159733"/>
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        <balance>2368000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>National Grid plc</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2381853279"/>
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        <balance>3600000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>3951928.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>OI European Group BV</name>
        <lei>72450053F5WRDY8CDZ66</lei>
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          <isin value="XS2624554320"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Monitchem HoldCo 3 SA</name>
        <lei>222100SJHJ1CNJMSW162</lei>
        <title>Monitchem HoldCo 3 SA</title>
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          <isin value="XS2615006470"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.75000000</annualizedRt>
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        <name>Birkenstock Financing SARL</name>
        <lei>5299004DSXRFOZZ5UG09</lei>
        <title>Birkenstock Financing SARL</title>
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        <identifiers>
          <isin value="XS2338167104"/>
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        <balance>700000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.37500000</annualizedRt>
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        <name>Gaci First Investment Co.</name>
        <lei>558600TU1PWGNLZ3XM88</lei>
        <title>Gaci First Investment Co.</title>
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        <balance>5420000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Schaeffler AG</name>
        <lei>549300Q7E782X7GC1P43</lei>
        <title>Schaeffler AG</title>
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        <balance>600000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.37500000</annualizedRt>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <balance>5652000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-30</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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            <dbtSecRefInstrument>
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              <title>N/A</title>
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        <name>Verisure Midholding AB</name>
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        <name>Braskem Netherlands Finance BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Nidda Healthcare Holding GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amber Finco plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Republic of Nigeria</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS Quattro Finance 2 plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EnfraGen Energia Sur SA</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Novelis Sheet Ingot GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Forvia SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Czech Republic</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chrome Holdco SAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cerba Healthcare SACA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Eni SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Cote d'Ivoire</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lorca Telecom Bondco SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Heimstaden Bostad AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OI European Group BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Volkswagen Leasing GmbH</name>
        <lei>5299004GLEUX88BSNB74</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UniCredit SpA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Heathrow Funding Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Dolcetto Holdco SpA</name>
        <lei>81560029E819F2CE4A42</lei>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Istanbul Metropolitan Municipality</name>
        <lei>213800T1VDQSNKA2MD76</lei>
        <title>Istanbul Metropolitan Municipality</title>
        <cusip>N/A</cusip>
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          <isin value="XS2730249997"/>
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        <balance>3120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3348196.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>10.50000000</annualizedRt>
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        <name>Neopharmed Gentili SpA</name>
        <lei>815600C8FD3DCB866E50</lei>
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        <balance>1997000.00000000</balance>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>eircom Finance DAC</name>
        <lei>254900NA4DUH50UERM85</lei>
        <title>eircom Finance DAC</title>
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        <identifiers>
          <isin value="XS3028067729"/>
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        <balance>1480000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>iliad SA</name>
        <lei>969500FZ9BTRZS3JNB97</lei>
        <title>iliad SA</title>
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          <isin value="FR0014001YB0"/>
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        <balance>3400000.00000000</balance>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-11</maturityDt>
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          <annualizedRt>1.87500000</annualizedRt>
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        <name>Republic of Kenya</name>
        <lei>549300VVURQQYU45PR87</lei>
        <title>Republic of Kenya</title>
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        <balance>7329000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7915539.87000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>KE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</annualizedRt>
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        <name>Cirsa Finance International Sarl</name>
        <lei>254900KUJN6DHWH2K029</lei>
        <title>Cirsa Finance International Sarl</title>
        <cusip>N/A</cusip>
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        <balance>524000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
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        <balance>3000000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>888 Acquisitions Ltd.</name>
        <lei>254900RFD0BP3JOPZU89</lei>
        <title>888 Acquisitions Ltd.</title>
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        <invCountry>GI</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Adler Pelzer Holding GmbH</name>
        <lei>984500950ABB2CB7E742</lei>
        <title>Adler Pelzer Holding GmbH</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Carnival Corp. Ltd.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2809222420"/>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kaixo Bondco Telecom SA</name>
        <lei>959800ULWB3MZHZ69055</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2397198487"/>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Angola</name>
        <lei>549300QHR2R3J8JSGK83</lei>
        <title>Republic of Angola</title>
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          <isin value="XS3204755543"/>
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        <curCd>USD</curCd>
        <valUSD>8320650.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AI Candelaria -spain- SA</name>
        <lei>213800L5KA2MJ5FKRZ02</lei>
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          <isin value="USE0R75RAB28"/>
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        <curCd>USD</curCd>
        <valUSD>1817605.64000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Iceland Bondco plc</name>
        <lei>2138002DRBYIA8QXHO36</lei>
        <title>Iceland Bondco plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS2660424008"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
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          <annualizedRt>10.87500000</annualizedRt>
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      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>N/A</cusip>
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          <isin value="XS3276212035"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Air France-KLM</name>
        <lei>969500AQW31GYO8JZD66</lei>
        <title>Air France-KLM</title>
        <cusip>N/A</cusip>
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          <isin value="FR001400ZKL2"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-21</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Rekeep SpA</name>
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        <title>Rekeep SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3005193183"/>
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        <balance>651000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
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          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>Turkcell Iletisim Hizmetleri A/S</name>
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        <title>Turkcell Iletisim Hizmetleri A/S</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2981975027"/>
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        <balance>1930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1966998.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-24</maturityDt>
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          <annualizedRt>7.45000000</annualizedRt>
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        <name>Acu Petroleo Luxembourg SARL</name>
        <lei>N/A</lei>
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          <isin value="USL0R80QAA10"/>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TUI Cruises GmbH</name>
        <lei>529900SVD83QUUIZYY18</lei>
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          <isin value="XS2804599509"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mex Bonos Desarr Fix Rt</title>
        <cusip>N/A</cusip>
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          <isin value="MXMSGO000001"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RAC Bond Co. plc</name>
        <lei>2138008FCM2SUNLC7B21</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Synthomer plc</name>
        <lei>213800EHT3TI1KPQQJ56</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Techem Verwaltungsgesellschaft 675 mbH</name>
        <lei>529900N0M7FQHNAV1A41</lei>
        <title>Techem Verwaltungsgesellschaft 675 mbH</title>
        <cusip>N/A</cusip>
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          <isin value="XS2767965853"/>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>New Immo Holding SA</name>
        <lei>5493007LOTJ0I8E94R81</lei>
        <title>New Immo Holding SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR001400PIA0"/>
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        <balance>1200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Republic of Poland</name>
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        <name>Lottomatica Group SpA</name>
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        <name>Electricite de France SA</name>
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        <name>EMRLD Borrower LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SES SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BE Semiconductor Industries NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Samhallsbyggnadsbolaget I Norden Holding AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Medical Systems Europe BV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Telefonica Europe BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Republic of Colombia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fibercop SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cheplapharm Arzneimittel GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paraguay Government International Bond</name>
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        <name>IHO Verwaltungs GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bellis Acquisition Co. plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Czech Republic</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BPCE SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellium SE</name>
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        <name>Telecom Italia SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enel SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RCI Banque SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vonovia SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chile Electricity Lux Mpc II Sarl</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>OI European Group BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Commerzbank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Essendi SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Agricole SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Verisure Holding AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Iliad Holding SAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CT Investment GmbH</name>
        <lei>529900VYBTC7HKBCNB72</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>EDP SA</name>
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        <name>Progroup AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Valeo SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lorca Telecom Bondco SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kingdom of Morocco</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bayer AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown European Holdings SACA</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Uzbekistan International Bond</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United Mexican States</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Honduras</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altice France SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AIB Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KBC Group NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IHS Holding Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Telefonica Europe BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Benin Government International Bond</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grupo Antolin Irausa SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Q-Park Holding I BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PLT VII Finance Sarl</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Techem Verwaltungsgesellschaft 675 mbH</name>
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        <title>Techem Verwaltungsgesellschaft 675 mbH</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Cheplapharm Arzneimittel GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brazilian Real</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Crown European Holdings SACA</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Perrigo Finance Unlimited Co.</name>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ZF Europe Finance BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Flora Food Management BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carnival plc</name>
        <lei>4DR1VPDQMHD3N3QW8W95</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Boots Group Finco LP</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Republic of Ecuador</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Pinnacle Bidco plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nidda Healthcare Holding GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cirsa Finance International SARL</name>
        <lei>254900KUJN6DHWH2K029</lei>
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        <invCountry>LU</invCountry>
        
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        <name>Grupo Nutresa SA</name>
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        <name>Veolia Environnement SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Repsol Europe Finance Sarl</name>
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        <fairValLevel>2</fairValLevel>
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        <name>eircom Finance DAC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OTP Bank Nyrt.</name>
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        <name>Far East Horizon Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bertrand Franchise Finance SAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fressnapf Holding SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Congolese International Bond</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ams-OSRAM AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Forvia SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fibercop SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of South Africa</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IHO Verwaltungs GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Essendi SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>eDreams ODIGEO SA</name>
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        <name>Lottomatica Group Spa</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Congolese International Bond</name>
        <lei>529900BXT90HR4QTB688</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Greenko Wind Projects Mauritius Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Orbia Advance Corp. SAB de CV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ontex Group NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Romania</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Beach Acquisition Bidco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Maxam Prill Sarl</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ball Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lottomatica Group Spa</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altice France SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altice France SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paprec Holding SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paprec Holding SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Viridien</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Azule Energy Finance plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Republic of North Macedonia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Valeo SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deepocean Ltd.</name>
        <lei>213800OYKN2J6ZFIFU40</lei>
        <title>Deepocean Ltd.</title>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Intralot Capital Luxembourg SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Benteler International Austria GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trivium Packaging Finance BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Punch Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Medco Cypress Tree Pte. Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BCP V Modular Services Finance II plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nissan Motor Co. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Eni SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Muthoot Finance Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Silgan Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TotalEnergies SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Forvia SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ZF Europe Finance BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Gruppo San Donato SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Asmodee Group AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PeopleCert Wisdom Issuer plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Country Garden Holdings Co. Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SES SA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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        <name>New Mexican Pesos</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Malaysian Ringgit</name>
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        <invCountry>MY</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Nidda Healthcare Holding GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ball Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Punch Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UniCredit SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paprec Holding SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Azelis Finance NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eutelsat Communications SACA</name>
        <lei>549300EFWH9UR17YSK05</lei>
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          <isin value="XS3224538416"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eutelsat Communications SACA</name>
        <lei>549300EFWH9UR17YSK05</lei>
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          <isin value="XS3307229750"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OAK-Eagle Acquireco, Inc.</name>
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          <isin value="XS3323687452"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>IHO Verwaltungs GmbH</name>
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          <isin value="XS3309776808"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Islamic Republic of Pakistan</name>
        <lei>529900LOP29R5WKHOD86</lei>
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          <isin value="XS3353905121"/>
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        <curCd>USD</curCd>
        <valUSD>2324581.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.97500000</annualizedRt>
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      <invstOrSec>
        <name>United Group BV</name>
        <lei>213800PC85O8BJ7DU398</lei>
        <title>United Group BV</title>
        <cusip>N/A</cusip>
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          <isin value="XS3367705723"/>
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        <balance>1128000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LSF12 Pillar Investments US, Inc.</name>
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          <isin value="XS3368834316"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>INEOS Finance plc</name>
        <lei>2138002D68XDR4LZCG32</lei>
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          <isin value="XS3366268970"/>
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        <balance>682000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>UGI International LLC</name>
        <lei>5493001JFF8MQO00ZQ21</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Philippines</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Polish Zloty - New</name>
        <lei>N/A</lei>
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        <balance>24.23000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>Romanian Leu</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Turkish Lira</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="TYU6COM"/>
          <other otherDesc="Future Ticker" value="TYU6 Comdty"/>
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        <pctVal>0.005324878460</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
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                  <ticker value="TYU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>22197906.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>222188.29000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Buxl 30 Year Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F2Y2E12"/>
          <other otherDesc="Future Ticker" value="UBM6 Comdty"/>
        </identifiers>
        <balance>28.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>-69619.66000000</valUSD>
        <pctVal>-0.00166847779</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex Clearing</counterpartyName>
              <counterpartyLei>529900LN3S50JPU47S06</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Euro-Buxl 30 Year Bond</issueTitle>
                <identifiers>
                  <ticker value="UBM6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-06-08</expDate>
            <notionalAmt>3070480.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-69619.66000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="USU6COS"/>
          <other otherDesc="Future Ticker" value="USU6 Comdty"/>
        </identifiers>
        <balance>-114.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-236179.73000000</valUSD>
        <pctVal>-0.00566019188</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury Long Bond</issueTitle>
                <identifiers>
                  <ticker value="USU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>-12814312.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-236179.73000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="UXYU6CM"/>
          <other otherDesc="Future Ticker" value="UXYU6 Comdty"/>
        </identifiers>
        <balance>-1323.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1575322.51000000</valUSD>
        <pctVal>-0.03775356884</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Ultra Note</issueTitle>
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                  <ticker value="UXYU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>-148444734.38000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1575322.51000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="UXYU6CO"/>
          <other otherDesc="Future Ticker" value="UXYU6 Comdty"/>
        </identifiers>
        <balance>1074.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>661459.72000000</valUSD>
        <pctVal>0.015852287335</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Ultra Note</issueTitle>
                <identifiers>
                  <ticker value="UXYU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>120506156.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>661459.72000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="WNU6COS"/>
          <other otherDesc="Future Ticker" value="WNU6 Comdty"/>
        </identifiers>
        <balance>-1702.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4059847.63000000</valUSD>
        <pctVal>-0.09729673511</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury Ultra Bond</issueTitle>
                <identifiers>
                  <ticker value="WNU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>-195091750.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-4059847.63000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087S62</cusip>
        <identifiers>
          <isin value="CA135087S620"/>
        </identifiers>
        <balance>94811000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37865000"/>
        <valUSD>68096944.26000000</valUSD>
        <pctVal>1.631984978701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Australia 10 Year Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="XMM6COM"/>
          <other otherDesc="Future Ticker" value="XMM6 Comdty"/>
        </identifiers>
        <balance>3508.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.39130434"/>
        <valUSD>1956552.08000000</valUSD>
        <pctVal>0.046889968989</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ASX Clear (Futures)</counterpartyName>
              <counterpartyLei>549300ZD7BBOVZFVHK49</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Australia 10 Year Bond</issueTitle>
                <identifiers>
                  <ticker value="XMM6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-06-15</expDate>
            <notionalAmt>382468820.80000000</notionalAmt>
            <curCd>AUD</curCd>
            <unrealizedAppr>1956552.08000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ardagh Holdings SA</name>
        <lei>6354006L1NWUUOPYX274</lei>
        <title>Ardagh Holdings SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU3201310227"/>
        </identifiers>
        <balance>58776.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>394198.88000000</valUSD>
        <pctVal>0.009447217606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ardagh Holdings SA</name>
        <lei>6354006L1NWUUOPYX274</lei>
        <title>Ardagh Holdings SA</title>
        <cusip>985923101</cusip>
        <identifiers>
          <isin value="US9859231014"/>
        </identifiers>
        <balance>14500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>97248.60000000</valUSD>
        <pctVal>0.002330622263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Notas do Tesouro Nacional</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRSTNCNTF2K7"/>
        </identifiers>
        <balance>92000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="BRL" exchangeRt="5.04455000"/>
        <valUSD>14364655.92000000</valUSD>
        <pctVal>0.344257777502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.99999990</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>Republic of Costa Rica</name>
        <lei>549300S1EK2VN6XVJP58</lei>
        <title>Republic of Costa Rica</title>
        <cusip>221602AE5</cusip>
        <identifiers>
          <isin value="XS3273874563"/>
        </identifiers>
        <balance>6750000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>8272135.05000000</valUSD>
        <pctVal>0.198246783172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00100000</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>MKS, Inc.</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKS, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3281721947"/>
        </identifiers>
        <balance>1065000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>1208717.24000000</valUSD>
        <pctVal>0.028967648998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cidron Atrium SE</name>
        <lei>2549004YHD7GOLT9Y166</lei>
        <title>Cidron Atrium SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3286656387"/>
        </identifiers>
        <balance>404000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>463843.43000000</valUSD>
        <pctVal>0.011116291904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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="CNY is confirmed. CNY is an abbreviation for Chinese Yuan for when traded is on-shore markets." noteItem="C.11.e.i"/>
      <explntrNote note="CNY is confirmed. CNY is an abbreviation for Chinese Yuan for when traded is on-shore markets." noteItem="C.11.e.ii"/>
      
      
      
      
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust I</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
