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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLOCK INC</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block, Inc.</title>
        <cusip>852234AT0</cusip>
        <identifiers>
          <isin value="US852234AT09"/>
          <ticker value="852234AT"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497754.50</valUSD>
        <pctVal>1.0359149257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STILLWATER MINING CO</name>
        <lei>6354007DPCY4ZN2MRR73</lei>
        <title>Stillwater Mining Co.</title>
        <cusip>86074QAQ5</cusip>
        <identifiers>
          <isin value="US86074QAQ55"/>
          <ticker value="86074QAQ"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95186.70</valUSD>
        <pctVal>0.1981003150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STONEX GROUP INC</name>
        <lei>549300JUF07L8VF02M60</lei>
        <title>StoneX Group, Inc.</title>
        <cusip>861896AA6</cusip>
        <identifiers>
          <isin value="US861896AA67"/>
          <ticker value="861896AA"/>
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        <balance>182000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189688.59</valUSD>
        <pctVal>0.3947754196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUNOCO LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
        <cusip>86765KAH2</cusip>
        <identifiers>
          <isin value="US86765KAH23"/>
          <ticker value="86765KAH"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250226.75</valUSD>
        <pctVal>0.5207660104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNOCO LP/FINANCE CORP</name>
        <lei>N/A</lei>
        <title>Sunoco LP / Sunoco Finance Corp.</title>
        <cusip>86765LAN7</cusip>
        <identifiers>
          <isin value="US86765LAN73"/>
          <ticker value="86765LAN"/>
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        <balance>53000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53045</valUSD>
        <pctVal>0.1103960029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TENET HEALTHCARE CORP</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
        <cusip>88033GDK3</cusip>
        <identifiers>
          <isin value="US88033GDK31"/>
          <ticker value="88033GDK"/>
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        <balance>261000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261318.94</valUSD>
        <pctVal>0.5438508146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.1250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLOUD SOFTWARE GRP LLC</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>Cloud Software Group LLC</title>
        <cusip>88632QAE3</cusip>
        <identifiers>
          <isin value="US88632QAE35"/>
          <ticker value="88632QAE"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>292836</valUSD>
        <pctVal>0.6094433766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED RENTALS NORTH AM</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
        <cusip>911365BQ6</cusip>
        <identifiers>
          <isin value="US911365BQ63"/>
          <ticker value="911365BQ"/>
        </identifiers>
        <balance>868000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>877920.37</valUSD>
        <pctVal>1.8271071680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIASAT INC</name>
        <lei>UFC8NYMNFSYIHNSM2I38</lei>
        <title>Viasat, Inc.</title>
        <cusip>92552VAL4</cusip>
        <identifiers>
          <isin value="US92552VAL45"/>
          <ticker value="92552VAL"/>
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        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274604</valUSD>
        <pctVal>0.5714993682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIASAT INC</name>
        <lei>UFC8NYMNFSYIHNSM2I38</lei>
        <title>Viasat, Inc.</title>
        <cusip>92552VAN0</cusip>
        <identifiers>
          <isin value="US92552VAN01"/>
          <ticker value="92552VAN"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348028.80</valUSD>
        <pctVal>0.7243093302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICTORIA'S SECRET &amp; CO</name>
        <lei>5493006T3O70U3UWVF17</lei>
        <title>Victoria's Secret &amp; Co.</title>
        <cusip>926400AA0</cusip>
        <identifiers>
          <isin value="US926400AA00"/>
          <ticker value="926400AA"/>
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        <balance>1002000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>973662.44</valUSD>
        <pctVal>2.0263633060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICTRA HLDG/VICTRA FIN</name>
        <lei>N/A</lei>
        <title>Victra Holdings LLC / Victra Finance Corp.</title>
        <cusip>92648DAA4</cusip>
        <identifiers>
          <isin value="US92648DAA46"/>
          <ticker value="92648DAA"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50951.25</valUSD>
        <pctVal>0.1060385398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIKING BAKED GOODS ACQUI</name>
        <lei>254900DBFD2H1FJK0893</lei>
        <title>Viking Baked Goods Acquisition Corp.</title>
        <cusip>92676AAC1</cusip>
        <identifiers>
          <isin value="US92676AAC18"/>
          <ticker value="92676AAC"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75577.88</valUSD>
        <pctVal>0.1572909013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WINDSTREAM SERVICES/ESCR</name>
        <lei>N/A</lei>
        <title>Windstream Services LLC / Windstream Escrow Finance Corp.</title>
        <cusip>97381AAA0</cusip>
        <identifiers>
          <isin value="US97381AAA07"/>
          <ticker value="97381AAA"/>
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        <balance>991000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1031749.92</valUSD>
        <pctVal>2.1472535993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>XHR LP</name>
        <lei>549300M88BPT83ZL2164</lei>
        <title>XHR LP</title>
        <cusip>98372MAE5</cusip>
        <identifiers>
          <isin value="US98372MAE57"/>
          <ticker value="98372MAE"/>
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        <balance>580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>593084.22</valUSD>
        <pctVal>1.2343128906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOFTBANK GROUP CORP</name>
        <lei>5493003BZYYYCDIO0R13</lei>
        <title>SoftBank Group Corp.</title>
        <cusip>J7596PAP4</cusip>
        <identifiers>
          <isin value="XS1684384867"/>
          <ticker value="AP104703"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247213.25</valUSD>
        <pctVal>0.5144943853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.1250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TENNECO INC</name>
        <lei>549300U0EXXFAQFAD785</lei>
        <title>Tenneco, Inc.</title>
        <cusip>88037HAP9</cusip>
        <identifiers>
          <isin value="US88037HAP91"/>
          <ticker value="BL404579"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400594</valUSD>
        <pctVal>0.8337067847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.741920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST BRANDS GROUP LLC</name>
        <lei>N/A</lei>
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          <isin value="US31935HAG20"/>
          <ticker value="BL407153"/>
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        <curCd>USD</curCd>
        <valUSD>579.16</valUSD>
        <pctVal>0.0012053341</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-30</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>WEST TECHNOLOGY GRP LLC</name>
        <lei>5493005Z5DB0O5S30R71</lei>
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          <isin value="US68162RAH49"/>
          <ticker value="BL420092"/>
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        <balance>502933.85</balance>
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        <curCd>USD</curCd>
        <valUSD>84963.13</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.502110</annualizedRt>
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      <invstOrSec>
        <name>VIASAT INC</name>
        <lei>UFC8NYMNFSYIHNSM2I38</lei>
        <title>Viasat, Inc.</title>
        <cusip>92555WAF2</cusip>
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          <isin value="US92555WAF23"/>
          <ticker value="BL429597"/>
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        <balance>48625</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49023.24</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.974410</annualizedRt>
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      <invstOrSec>
        <name>1011778 BC ULC</name>
        <lei>549300RHSHNRWI5LLA86</lei>
        <title>1011778 BC ULC</title>
        <cusip>C6901LAK3</cusip>
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          <isin value="XAC6901LAK35"/>
          <ticker value="BL443107"/>
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        <balance>629687.50</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621422.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.6674</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DS PARENT INC</name>
        <lei>254900EH8GRZUGRWRH57</lei>
        <title>DS Parent, Inc.</title>
        <cusip>23344YAG7</cusip>
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          <isin value="US23344YAG70"/>
          <ticker value="BL448510"/>
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        <balance>98000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79563.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.801910</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELIVERY HERO FINCO LLC</name>
        <lei>529900KR9IO53KSCSQ67</lei>
        <title>Delivery Hero Finco LLC</title>
        <cusip>D2007ZAE7</cusip>
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          <isin value="XAD2007ZAE79"/>
          <ticker value="BL459878"/>
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        <balance>391000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>396131.88</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.6393</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EYECARE PARTNERS LLC</name>
        <lei>254900ZAACWK09RJ8W93</lei>
        <title>Eyecare Partners LLC</title>
        <cusip>30233PAQ3</cusip>
        <identifiers>
          <isin value="US30233PAQ37"/>
          <ticker value="BL465008"/>
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        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>451437.75</valUSD>
        <pctVal>0.9395215980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.3674</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LIKEWIZE CORP</name>
        <lei>TF9O1XIG83ZLXX7WN472</lei>
        <title>Likewize Corp.</title>
        <cusip>53235UAB5</cusip>
        <identifiers>
          <isin value="US53235UAB52"/>
          <ticker value="BL472225"/>
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        <balance>944665.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>869682.78</valUSD>
        <pctVal>1.8099632900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.032750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMC ENTERTAINMENT HLDGS</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC Entertainment Holdings, Inc.</title>
        <cusip>00164CAD7</cusip>
        <identifiers>
          <isin value="US00164CAD74"/>
          <ticker value="BL472776"/>
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        <balance>602745.60</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>606669.47</valUSD>
        <pctVal>1.2625861925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.675360</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENVIVA</name>
        <lei>549300WH5VXDEFM5KR81</lei>
        <title>Enviva LLC</title>
        <cusip>29409SAB0</cusip>
        <identifiers>
          <ticker value="BL475322"/>
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        <balance>823210.27</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>833245.20</valUSD>
        <pctVal>1.7341302579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.5237</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>CHINOS INTERMEDIATE 2 LL</name>
        <lei>54930061EIIAONXJMZ79</lei>
        <title>Chinos Intermediate 2 LLC</title>
        <cusip>16961YAB4</cusip>
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          <isin value="US16961YAB48"/>
          <ticker value="BL475528"/>
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        <balance>493750</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>410340.81</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.822670</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ASURION LLC</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>Asurion LLC</title>
        <cusip>04649VBD1</cusip>
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          <isin value="US04649VBD10"/>
          <ticker value="BL475649"/>
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        <balance>696455.70</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>680959.56</valUSD>
        <pctVal>1.4171969756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.9230</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LASERSHIP INC</name>
        <lei>254900NGHREGOQUFUT53</lei>
        <title>Lasership, Inc.</title>
        <cusip>51809EAP0</cusip>
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          <isin value="US51809EAP07"/>
          <ticker value="BL481049"/>
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        <balance>272148.73</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22452.27</valUSD>
        <pctVal>0.0467271348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.060780</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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        <name>LASERSHIP INC</name>
        <lei>254900NGHREGOQUFUT53</lei>
        <title>Lasership, Inc.</title>
        <cusip>51809EAN5</cusip>
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          <isin value="US51809EAN58"/>
          <ticker value="BL481050"/>
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        <balance>152240.67</balance>
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        <curCd>USD</curCd>
        <valUSD>85254.78</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.732220</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CELANESE US HOLDINGS LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
        <title>Celanese U.S. Holdings LLC</title>
        <cusip>15089QAZ7</cusip>
        <identifiers>
          <isin value="US15089QAZ72"/>
          <ticker value="15089QAZ"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202663.80</valUSD>
        <pctVal>0.4217791207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITGO PETROLEUM CORP</name>
        <lei>YX52P86PXMLYDOTUQ225</lei>
        <title>CITGO Petroleum Corp.</title>
        <cusip>17302XAN6</cusip>
        <identifiers>
          <isin value="US17302XAN66"/>
          <ticker value="17302XAN"/>
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        <balance>975000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003953.60</valUSD>
        <pctVal>2.0894045537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.3750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONNECT FINCO SARL/CONNE</name>
        <lei>N/A</lei>
        <title>Connect Finco SARL / Connect U.S. Finco LLC</title>
        <cusip>20752TAB0</cusip>
        <identifiers>
          <isin value="US20752TAB08"/>
          <ticker value="20752TAB"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>262471.75</valUSD>
        <pctVal>0.5462500156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>XX</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONSENSUS CLOUD SOLUTION</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IHS MAURITIUS NG HOLDCO</name>
        <lei>5493006Z6YQYCCN2XI74</lei>
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          <isin value="US44963LAC00"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8</annualizedRt>
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      <invstOrSec>
        <name>ICAHN ENTERPRISES/FIN</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75</annualizedRt>
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      <invstOrSec>
        <name>INNOVATE CORP</name>
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          <isin value="US45784JAB17"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
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          <annualizedRt>10.50</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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          <isin value="US46284VAE11"/>
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        <balance>350000</balance>
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        <curCd>USD</curCd>
        <valUSD>348919.90</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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          <annualizedRt>5.25</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NEW WPCC PARENT LLC</name>
        <lei>N/A</lei>
        <title>New WPCC Parent LLC</title>
        <cusip>64929VAA3</cusip>
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          <ticker value="BL509639"/>
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        <curCd>USD</curCd>
        <valUSD>165872.50</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-09</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LENDINGTREE INC</name>
        <lei>549300ISY5YHUJZTON08</lei>
        <title>LendingTree, Inc.</title>
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          <isin value="US52602KAE82"/>
          <ticker value="BL519593"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-21</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>FIRST BRANDS GROUP LLC</name>
        <lei>N/A</lei>
        <title>First Brands Group LLC</title>
        <cusip>31935HAM9</cusip>
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          <isin value="US31935HAM97"/>
          <ticker value="BL525886"/>
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        <balance>334774.57</balance>
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        <curCd>USD</curCd>
        <valUSD>60975.84</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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          <maturityDt>2026-12-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.656840</annualizedRt>
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        <name>FIRST BRANDS GROUP LLC</name>
        <lei>N/A</lei>
        <title>First Brands Group LLC</title>
        <cusip>31935HAN7</cusip>
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          <isin value="US31935HAN70"/>
          <ticker value="BL525887"/>
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        <balance>836135.44</balance>
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        <curCd>USD</curCd>
        <valUSD>2608.74</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.656840</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FG PARENT, LLC    /</name>
        <lei>N/A</lei>
        <title>FG PARENT, LLC    /</title>
        <cusip>999999999</cusip>
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          <ticker value="FGPARENT"/>
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        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Spirit Aviation Holdings Inc</name>
        <lei>N/A</lei>
        <title>Spirit Aviation Holdings, Inc.</title>
        <cusip>84863V101</cusip>
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          <isin value="US84863V1017"/>
          <ticker value="FLYYQ"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>FUSION PARENT LLC CLASS A   /</name>
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          <ticker value="FRANCHEQ"/>
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        <balance>9684</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>GRAB HOLDINGS LTD</name>
        <lei>549300N4VQX83VPJF439</lei>
        <title>Grab Holdings Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>SHIFT4 PAYMENTS INC</name>
        <lei>N/A</lei>
        <title>Shift4 Payments, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SOTHEBY'S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOFTBANK GROUP CORP</name>
        <lei>5493003BZYYYCDIO0R13</lei>
        <title>SoftBank Group Corp.</title>
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          <ticker value="AR868800"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FIRST BRANDS GROUP LLC</name>
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        <title>First Brands Group LLC</title>
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          <ticker value="BL357275"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ASURION LLC</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>Asurion LLC</title>
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          <ticker value="BL367495"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>VIASAT INC</name>
        <lei>UFC8NYMNFSYIHNSM2I38</lei>
        <title>Viasat, Inc.</title>
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          <isin value="US92555WAD74"/>
          <ticker value="BL385676"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-05</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMC GLOBAL MEDIA INC</name>
        <lei>549300VGG9K75226LR46</lei>
        <title>AMC Global Media, Inc.</title>
        <cusip>00164VAK9</cusip>
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          <isin value="US00164VAK98"/>
          <ticker value="00164VAK"/>
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        <curCd>USD</curCd>
        <valUSD>618536.58</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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      <invstOrSec>
        <name>AP CORE HOLDINGS II LLC</name>
        <lei>549300PND8ZZ4RWYRZ56</lei>
        <title>AP Core Holdings II LLC</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11</annualizedRt>
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      <invstOrSec>
        <name>ADIENT GLOBAL HOLDINGS</name>
        <lei>213800VA38VCKE6M8790</lei>
        <title>Adient Global Holdings Ltd.</title>
        <cusip>00687YAC9</cusip>
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          <ticker value="00687YAC"/>
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        <curCd>USD</curCd>
        <valUSD>167510.52</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
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      <invstOrSec>
        <name>ALARM.COM HLDGS INC</name>
        <lei>549300HIH92U1EKIHZ32</lei>
        <title>Alarm.com Holdings, Inc.</title>
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          <ticker value="011642AD"/>
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        <curCd>USD</curCd>
        <valUSD>393564</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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              <title>Alarm.com Holdings Inc</title>
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      <invstOrSec>
        <name>ALLWYN ENTERTAINMENT FIN</name>
        <lei>315700J7ZTIN8XGCX365</lei>
        <title>Allwyn Entertainment Financing UK PLC</title>
        <cusip>02007VAA8</cusip>
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          <ticker value="02007VAA"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France S.A.</title>
        <cusip>02090DAA6</cusip>
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          <isin value="US02090DAA63"/>
          <ticker value="02090DAA"/>
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        <curCd>USD</curCd>
        <valUSD>227719.92</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France S.A.</title>
        <cusip>02090DAB4</cusip>
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          <isin value="US02090DAB47"/>
          <ticker value="02090DAB"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>195425.60</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ALTA EQUIPMENT GROUP</name>
        <lei>549300DGOB28CLGS1X27</lei>
        <title>Alta Equipment Group, Inc.</title>
        <cusip>02128LAC0</cusip>
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          <isin value="US02128LAC00"/>
          <ticker value="02128LAC"/>
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        <balance>450000</balance>
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        <curCd>USD</curCd>
        <valUSD>431852.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>9</annualizedRt>
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      <invstOrSec>
        <name>BELO CORP</name>
        <lei>N/A</lei>
        <title>Belo Corp.</title>
        <cusip>080555AF2</cusip>
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          <ticker value="080555AF"/>
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        <balance>408000</balance>
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        <curCd>USD</curCd>
        <valUSD>417783.84</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</annualizedRt>
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      <invstOrSec>
        <name>Enviva Holdings LP</name>
        <lei>N/A</lei>
        <title>Enviva Holdings LP</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="1218021D"/>
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        <balance>9219</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180346.69</valUSD>
        <pctVal>0.3753332777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CCO HLDGS LLC/CAP CORP</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC / CCO Holdings Capital Corp.</title>
        <cusip>1248EPBT9</cusip>
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          <isin value="US1248EPBT92"/>
          <ticker value="1248EPBT"/>
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        <balance>128000</balance>
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        <curCd>USD</curCd>
        <valUSD>127824.26</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.1250</annualizedRt>
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        <name>CVR ENERGY INC</name>
        <lei>529900SOYZIXZBTXB558</lei>
        <title>CVR Energy, Inc.</title>
        <cusip>12662PAH1</cusip>
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          <ticker value="12662PAH"/>
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        <curCd>USD</curCd>
        <valUSD>405546</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isDefault>N</isDefault>
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        <name>CALUMET SPECIALTY PROD</name>
        <lei>N/A</lei>
        <title>Calumet Specialty Products Partners LP / Calumet Finance Corp.</title>
        <cusip>131477AW1</cusip>
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          <isin value="US131477AW17"/>
          <ticker value="131477AW"/>
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        <curCd>USD</curCd>
        <valUSD>103320</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CARS.COM INC</name>
        <lei>5493002G6J07LNGX4M98</lei>
        <title>Cars.com, Inc.</title>
        <cusip>14575EAA3</cusip>
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          <ticker value="14575EAA"/>
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        <curCd>USD</curCd>
        <valUSD>397540.40</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.3750</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>COOPER-STANDARD AUTOMOTI</name>
        <lei>ITCH5B3Q4RTX2PH9UN62</lei>
        <title>Cooper-Standard Automotive, Inc.</title>
        <cusip>216762AK0</cusip>
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          <ticker value="216762AK"/>
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        <balance>370000</balance>
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        <curCd>USD</curCd>
        <valUSD>378014.20</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELEK LOG PART/FINANCE</name>
        <lei>N/A</lei>
        <title>Delek Logistics Partners LP / Delek Logistics Finance Corp.</title>
        <cusip>24665FAD4</cusip>
        <identifiers>
          <isin value="US24665FAD42"/>
          <ticker value="24665FAD"/>
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        <balance>124000</balance>
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        <curCd>USD</curCd>
        <valUSD>128707.66</valUSD>
        <pctVal>0.2678633464</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIEBOLD NIXDORF INC</name>
        <lei>549300XZK6EWDBAZSY16</lei>
        <title>Diebold Nixdorf, Inc.</title>
        <cusip>253651AK9</cusip>
        <identifiers>
          <isin value="US253651AK94"/>
          <ticker value="253651AK"/>
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        <balance>175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182070.53</valUSD>
        <pctVal>0.3789208928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIRECTV FINANCING LLC</name>
        <lei>N/A</lei>
        <title>Directv Financing LLC</title>
        <cusip>25461LAB8</cusip>
        <identifiers>
          <isin value="US25461LAB80"/>
          <ticker value="25461LAB"/>
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        <balance>422000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>429272.33</valUSD>
        <pctVal>0.8933914487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIRECTV FIN LLC/COINC</name>
        <lei>N/A</lei>
        <title>Directv Financing LLC / Directv Financing Co.-Obligor, Inc.</title>
        <cusip>25461LAD4</cusip>
        <identifiers>
          <isin value="US25461LAD47"/>
          <ticker value="25461LAD"/>
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        <balance>531000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555392.02</valUSD>
        <pctVal>1.1558687729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DISCOVERY HOLDINGS INC</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Discovery Global Holdings, Inc.</title>
        <cusip>254948AP7</cusip>
        <identifiers>
          <isin value="US254948AP74"/>
          <ticker value="254948AP"/>
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        <balance>84000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82570.32</valUSD>
        <pctVal>0.1718434025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0540</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Par Health Inc</name>
        <lei>N/A</lei>
        <title>Par Health, Inc.</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="2606806D"/>
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        <balance>448</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2744</valUSD>
        <pctVal>0.0057107481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ECHOSTAR CORP</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>EchoStar Corp.</title>
        <cusip>278768AA4</cusip>
        <identifiers>
          <isin value="US278768AA44"/>
          <ticker value="278768AA"/>
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        <balance>701138</balance>
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        <curCd>USD</curCd>
        <valUSD>711968.48</valUSD>
        <pctVal>1.4817320086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENDO FINANCE HOLDINGS LP</name>
        <lei>N/A</lei>
        <title>Endo Finance Holdings LP</title>
        <cusip>29281RAA7</cusip>
        <identifiers>
          <isin value="US29281RAA77"/>
          <ticker value="29281RAA"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263423</valUSD>
        <pctVal>0.5482297347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENVIVA PRTNR ESCROW    /</name>
        <lei>N/A</lei>
        <title>ENVIVA PRTNR ESCROW    /</title>
        <cusip>294ESCAA6</cusip>
        <identifiers>
          <ticker value="294ESCAA"/>
        </identifiers>
        <balance>100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KRONOS INTERNATIONAL INC</name>
        <lei>529900NTVDLUSYY9F493</lei>
        <title>Kronos International, Inc.</title>
        <cusip>276352059</cusip>
        <identifiers>
          <isin value="XS2763520595"/>
          <ticker value="2L27PL0"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8672"/>
        <valUSD>501345.25</valUSD>
        <pctVal>1.0433879099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SCIL IV LLC / SCIL USA H</name>
        <lei>N/A</lei>
        <title>SCIL IV LLC / SCIL USA Holdings LLC</title>
        <cusip>ZJ2443688</cusip>
        <identifiers>
          <isin value="XS2644943115"/>
          <ticker value="2LBXYJ0"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.8672"/>
        <valUSD>119212.06</valUSD>
        <pctVal>0.2481013276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EVOLENT HEALTH INC</name>
        <lei>549300CZOCFHQ2BBTR11</lei>
        <title>Evolent Health, Inc.</title>
        <cusip>30050BAJ0</cusip>
        <identifiers>
          <isin value="US30050BAJ08"/>
          <ticker value="30050BAJ"/>
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        <balance>466000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313093.75</valUSD>
        <pctVal>0.6516033281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAY MEDIA INC</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Media, Inc.</title>
        <cusip>389375AM8</cusip>
        <identifiers>
          <isin value="US389375AM81"/>
          <ticker value="389375AM"/>
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        <balance>218000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230045.15</valUSD>
        <pctVal>0.4787645405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HLF FIN SARL LLC/HERBALI</name>
        <lei>N/A</lei>
        <title>HLF Financing Sarl LLC / Herbalife International, Inc.</title>
        <cusip>40390DAC9</cusip>
        <identifiers>
          <isin value="US40390DAC92"/>
          <ticker value="40390DAC"/>
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        <balance>561000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>522081.75</valUSD>
        <pctVal>1.0865442246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAT HOLDINGS I LLC/HAT</name>
        <lei>N/A</lei>
        <title>HAT Holdings I LLC / HAT Holdings II LLC</title>
        <cusip>418751AD5</cusip>
        <identifiers>
          <isin value="US418751AD59"/>
          <ticker value="418751AD"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>370852</valUSD>
        <pctVal>0.7718084357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HERBALIFE LTD</name>
        <lei>549300BA7TYPBSZZIA41</lei>
        <title>Herbalife Ltd.</title>
        <cusip>42703MAF0</cusip>
        <identifiers>
          <isin value="US42703MAF05"/>
          <ticker value="42703MAF"/>
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        <balance>267000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301870.20</valUSD>
        <pctVal>0.6282451405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HUGHES SATELLITE SYSTEMS</name>
        <lei>N/A</lei>
        <title>Hughes Satellite Systems Corp.</title>
        <cusip>444454AD4</cusip>
        <identifiers>
          <isin value="US444454AD48"/>
          <ticker value="444454AD"/>
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        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>403975</valUSD>
        <pctVal>0.8407432421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUGHES SATELLITE SYSTEMS</name>
        <lei>N/A</lei>
        <title>Hughes Satellite Systems Corp.</title>
        <cusip>444454AF9</cusip>
        <identifiers>
          <isin value="US444454AF95"/>
          <ticker value="444454AF"/>
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        <balance>512000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219313.66</valUSD>
        <pctVal>0.4564304166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JEFFERSON CAPITAL HOLDIN</name>
        <lei>N/A</lei>
        <title>Jefferson Capital Holdings LLC</title>
        <cusip>472481AC4</cusip>
        <identifiers>
          <isin value="US472481AC47"/>
          <ticker value="472481AC"/>
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        <balance>142000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148351.38</valUSD>
        <pctVal>0.3087453931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>8.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JETBLUE 2020-1 CLASS B</name>
        <lei>N/A</lei>
        <title>JetBlue 2020-1 Class B Pass-Through Trust</title>
        <cusip>477164AB3</cusip>
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          <isin value="US477164AB33"/>
          <ticker value="477164AB"/>
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        <balance>149148.30</balance>
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        <curCd>USD</curCd>
        <valUSD>150226.94</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>K HOVNANIAN ENTERPRISES</name>
        <lei>549300JJCQ0KAI7CJG32</lei>
        <title>K Hovnanian Enterprises, Inc.</title>
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          <isin value="US48251UAP30"/>
          <ticker value="48251UAP"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>407966.80</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KEHE DIST/FIN / NEXTWAVE</name>
        <lei>N/A</lei>
        <title>KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution, Inc.</title>
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          <isin value="US487526AC91"/>
          <ticker value="487526AC"/>
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        <balance>775000</balance>
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        <curCd>USD</curCd>
        <valUSD>808248.28</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>MAUSER PACKAGING SOLUT</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co.</title>
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          <isin value="US57763RAE71"/>
          <ticker value="57763RAE"/>
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        <balance>110000</balance>
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        <curCd>USD</curCd>
        <valUSD>112268.75</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.8750</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CY6</cusip>
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          <isin value="US629377CY66"/>
          <ticker value="629377CY"/>
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        <balance>597000</balance>
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        <curCd>USD</curCd>
        <valUSD>596979.70</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NCR ATLEOS LLC</name>
        <lei>N/A</lei>
        <title>NCR Atleos Corp.</title>
        <cusip>638962AA8</cusip>
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          <isin value="US638962AA84"/>
          <ticker value="638962AA"/>
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        <balance>550000</balance>
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        <curCd>USD</curCd>
        <valUSD>583599.50</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBV6</cusip>
        <identifiers>
          <isin value="US68389XBV64"/>
          <ticker value="68389XBV"/>
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        <balance>525000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>471964.50</valUSD>
        <pctVal>0.9822413860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PBF HOLDING CO LLC</name>
        <lei>N/A</lei>
        <title>PBF Holding Co. LLC / PBF Finance Corp.</title>
        <cusip>69318FAM0</cusip>
        <identifiers>
          <isin value="US69318FAM05"/>
          <ticker value="69318FAM"/>
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        <balance>931000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>997891.42</valUSD>
        <pctVal>2.0767880877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PG&amp;E CORP</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
        <cusip>69331CAL2</cusip>
        <identifiers>
          <isin value="US69331CAL28"/>
          <ticker value="69331CAL"/>
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        <balance>910000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>934342.50</valUSD>
        <pctVal>1.9445315742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>PG&amp;E Corp</title>
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              <identifiers>
                <ticker value="PCG"/>
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          <currencyInfos>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RADIOLOGY PARTNERS INC</name>
        <lei>549300SFTAG2177WUZ08</lei>
        <title>Radiology Partners, Inc.</title>
        <cusip>75041VAC8</cusip>
        <identifiers>
          <isin value="US75041VAC81"/>
          <ticker value="75041VAC"/>
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        <balance>858542</balance>
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        <curCd>USD</curCd>
        <valUSD>852375.09</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>None</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>RADIOLOGY PARTNERS INC</name>
        <lei>549300SFTAG2177WUZ08</lei>
        <title>Radiology Partners, Inc.</title>
        <cusip>75041VAE4</cusip>
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          <ticker value="75041VAE"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>263030</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>RAND PARENT LLC</name>
        <lei>N/A</lei>
        <title>Rand Parent LLC</title>
        <cusip>753272AA1</cusip>
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          <isin value="US753272AA11"/>
          <ticker value="753272AA"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>821066.40</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>RECOVERY SOLUTIONS PAREN</name>
        <lei>N/A</lei>
        <title>Recovery Solutions Parent LLC</title>
        <cusip>75627HAB3</cusip>
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          <isin value="US75627HAB33"/>
          <ticker value="75627HAB"/>
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        <balance>338866.16</balance>
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        <curCd>USD</curCd>
        <valUSD>336219.62</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.199610</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>LIGHT &amp; WONDER INTL INC</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
        <title>Light &amp; Wonder International, Inc.</title>
        <cusip>80874YBE9</cusip>
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          <isin value="US80874YBE95"/>
          <ticker value="80874YBE"/>
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        <balance>633000</balance>
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        <curCd>USD</curCd>
        <valUSD>643983.82</valUSD>
        <pctVal>1.3402439376</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>SCOTTS MIRACLE-GRO CO</name>
        <lei>2TH9E0JTOUXOEGI2R879</lei>
        <title>Scotts Miracle-Gro Co.</title>
        <cusip>810186AP1</cusip>
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          <isin value="US810186AP17"/>
          <ticker value="810186AP"/>
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        <balance>134000</balance>
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        <curCd>USD</curCd>
        <valUSD>134221.77</valUSD>
        <pctVal>0.2793391821</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SERVICE PROPERTIES TRUST</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust</title>
        <cusip>81761LAC6</cusip>
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          <isin value="US81761LAC63"/>
          <ticker value="81761LAC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210285</valUSD>
        <pctVal>0.4376401824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.6250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LASERSHIP INC</name>
        <lei>254900NGHREGOQUFUT53</lei>
        <title>Lasership, Inc.</title>
        <cusip>51809EAM7</cusip>
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          <isin value="US51809EAM75"/>
          <ticker value="BL481051"/>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>NUMERICABLE US LLC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ALTICE FRANCE SA</name>
        <lei>N/A</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SPIRIT AIRLINES INC</name>
        <lei>549300DCAFIXFNFR3304</lei>
        <title>Spirit Airlines, Inc.</title>
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          <ticker value="BL532797"/>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>SPIRIT AIRLINES INC</name>
        <lei>549300DCAFIXFNFR3304</lei>
        <title>Spirit Airlines, Inc.</title>
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          <ticker value="BL535546"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SPIRIT AIRLINES INC</name>
        <lei>549300DCAFIXFNFR3304</lei>
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          <ticker value="BL535547"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MICHAELS COS INC/THE</name>
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        <title>Michaels Cos., Inc.</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AP CORE HOLDINGS II LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DISCOVERY HOLDINGS INC</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>SAVE DIP-TL TL 1L U.S. BANK LOAN   /</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>AMS-OSRAM AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNY Dreyfus Treasury Securitie</name>
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        <fairValLevel>1</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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            <settlementDt>2026-08-12</settlementDt>
            <unrealizedAppr>1749.93</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO FORWARD CONTRACT 08/31/26   /</name>
        <lei>N/A</lei>
        <title>EURO FORWARD CONTRACT 08/31/26   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="EUR83126"/>
        </identifiers>
        <balance>-420000</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1"/>
        <valUSD>-484932.74</valUSD>
        <pctVal>-1.0092305812</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Manual</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <amtCurSold>420000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>480480</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-08-31</settlementDt>
            <unrealizedAppr>-4452.74</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO FORWARD CONTRACT 09/17/26   /</name>
        <lei>N/A</lei>
        <title>EURO FORWARD CONTRACT 09/17/26   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="EUR91726"/>
        </identifiers>
        <balance>-105000</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1"/>
        <valUSD>-121317.72</valUSD>
        <pctVal>-0.2524835775</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Manual</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <amtCurSold>105000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>120259.65</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-09-17</settlementDt>
            <unrealizedAppr>-1058.07</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fidelity Treasury Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Treasury Portfolio - Class III</title>
        <cusip>316175884</cusip>
        <identifiers>
          <isin value="US3161758848"/>
          <ticker value="FCSXX"/>
        </identifiers>
        <balance>3083379.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3083379.46</valUSD>
        <pctVal>6.4170566096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIBANYE-STILLWATER UK</name>
        <lei>9845008D52CAU74F6B33</lei>
        <title>Sibanye-Stillwater UK Financing PLC</title>
        <cusip>G8118LAA6</cusip>
        <identifiers>
          <isin value="USG8118LAA64"/>
          <ticker value="G8118LAA"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246243.25</valUSD>
        <pctVal>0.5124756442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</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>SOFTBANK GROUP CORP</name>
        <lei>5493003BZYYYCDIO0R13</lei>
        <title>SoftBank Group Corp.</title>
        <cusip>J7596PCK3</cusip>
        <identifiers>
          <isin value="XS3344488948"/>
          <ticker value="J7596PCK"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198007.20</valUSD>
        <pctVal>0.4120879146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.6250</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>SAVE DIP-TL A 1L U.S. SPIRIT AIRLINES, LLC   /</name>
        <lei>N/A</lei>
        <title>SAVE DIP-TL A 1L U.S. SPIRIT AIRLINES, LLC   /</title>
        <cusip>84859TAD4</cusip>
        <identifiers>
          <ticker value="LX292013"/>
        </identifiers>
        <balance>346526.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>341328.59</valUSD>
        <pctVal>0.7103650112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>13.869980</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>Keenova Therapeutics PLC</name>
        <lei>549300LMDE3RUP8Z3L60</lei>
        <title>Keenova Therapeutics PLC</title>
        <cusip>G5890A102</cusip>
        <identifiers>
          <isin value="IE000O3L0NQ3"/>
          <ticker value="MNKTQ"/>
        </identifiers>
        <balance>448</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43904</valUSD>
        <pctVal>0.0913719693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECOVERY SOLUTIONS    /</name>
        <lei>N/A</lei>
        <title>RECOVERY SOLUTIONS    /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="RS.US"/>
        </identifiers>
        <balance>18775.20</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>413054.40</valUSD>
        <pctVal>0.8596390753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLPATH HOLDINGS COMMON EQUITY   /</name>
        <lei>N/A</lei>
        <title>WELLPATH HOLDINGS COMMON EQUITY   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="WELL.CE"/>
        </identifiers>
        <balance>9043.8030</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6782.85</valUSD>
        <pctVal>0.0141163074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLPATH HOLDINGS PREFERRED EQUITY   /</name>
        <lei>N/A</lei>
        <title>WELLPATH HOLDINGS PREFERRED EQUITY   /</title>
        <cusip>999999999</cusip>
        <identifiers>
          <ticker value="WELL.PE"/>
        </identifiers>
        <balance>8763.3040</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122686.26</valUSD>
        <pctVal>0.2553317507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-10</ncom:dateSigned>
      <ncom:nameOfApplicant>INVESTMENT MANAGERS SERIES TRUST II</ncom:nameOfApplicant>
      <ncom:signature>/s/ Scott Schulenburg</ncom:signature>
      <ncom:signerName>Scott Schulenburg</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
