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        <name>Morgan Stanley Finance LLC.</name>
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        <name>Station Casinos LLC</name>
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        <name>Snam S.p.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco LP</name>
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        <name>TransDigm, Inc.</name>
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      <invstOrSec>
        <name>XPO Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BrightSpring Health Services Inc.</name>
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        <title>BTSG 6.75 02/01/27</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>BrightSpring Health Services Inc. COM</title>
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        <name>Cipher Compute LLC</name>
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        <name>Deutsche Lufthansa AG</name>
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        <name>Weir Group PLC</name>
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        <title>Weir Group PLC ORD GBP0.125</title>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>Softbank Group Corp.</name>
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        <name>LANDESBANK HESSEN THUERINGEN GIROZENTRALE(NEW YORK BRANCH)</name>
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        <name>Cytokinetics Inc</name>
        <lei>549300BE5DY1HW7IHA64</lei>
        <title>CYTK 1.75 10/01/31</title>
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        <name>HD Hyundai Heavy Industries Co Ltd.</name>
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        <name>Indra Sistemas S.A.</name>
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        <name>HD Hyundai Electric Co Ltd.</name>
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        <name>SUSQUEHANNA FINANCIAL GROUP, LLLP</name>
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        <name>Halma PLC</name>
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        <name>Banco Santander SA</name>
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        <name>Western Digital Corp.</name>
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        <name>Pennymac Financial Services Inc</name>
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        <name>Davita Inc</name>
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        <name>Lumentum Holdings Inc.</name>
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              <title>Lumentum Holdings Inc</title>
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      <invstOrSec>
        <name>Light &amp; Wonder International Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SLB LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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                <issuerName>MasterCard Incorporated</issuerName>
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            <shareNo>N/A</shareNo>
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      <invstOrSec>
        <name>Wesco Distribution, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PG&amp;E Corporation</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
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          <isin value="US69331C3060"/>
          <ticker value="PCGPX"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OneMain Financial Corporation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gilead Sciences Inc.</name>
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        <title>Gilead Sciences Inc. COM</title>
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          <ticker value="GILD"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MTU Aero Engines AG</name>
        <lei>529900807L67JY81RD65</lei>
        <title>MTXGR 0 07/15/33</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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              <title>MTU Aero Engines AG</title>
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                <ticker value="MTX"/>
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        <name>MEDLINE BORROWER LP</name>
        <lei>254900QT3R363TVK6F09</lei>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Amer Sports Co.</name>
        <lei>549300NRKH9WF70VFC95</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC ORD USD0.50</title>
        <cusip>000000000</cusip>
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          <isin value="GB0005405286"/>
          <ticker value="HSBA"/>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jazz Investments I LTD</name>
        <lei>N/A</lei>
        <title>JAZZ 3.125 09/15/30</title>
        <cusip>472145AH4</cusip>
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          <isin value="US472145AH40"/>
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        <curCd>USD</curCd>
        <valUSD>2171320.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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              <title>Jazz Pharmaceuticals PLC</title>
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                <isin value="IE00B4Q5ZN47"/>
                <ticker value="JAZZ"/>
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        <name>SM ENERGY COMPANY</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BNP PARIBAS SECURITIES (ASIA) LIMITED</name>
        <lei>213800DJAI4ZR21F9J77</lei>
        <title>MS A 2026-03-20 CALL 190</title>
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          <other otherDesc="FIGI" value="BBG01RZDTJS9"/>
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        <balance>-48.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1824.00000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Morgan Stanley</issuerName>
                <issueTitle>Morgan Stanley COM NEW</issueTitle>
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                  <ticker value="MS"/>
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            <shareNo>N/A</shareNo>
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      <invstOrSec>
        <name>Costco Wholesale Corporation</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corporation COM</title>
        <cusip>22160K105</cusip>
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          <ticker value="COST"/>
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        <valUSD>1632425.85000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VERSANT MEDIA GROUP INC</name>
        <lei>254900D2Q5F5F229PU30</lei>
        <title>VSNT 7.25 01/30/31 144A</title>
        <cusip>925283AA1</cusip>
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        <balance>1340000.00000000</balance>
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        <valUSD>1372198.86000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Insulet Corporation</name>
        <lei>549300TZTYD2PYN92D43</lei>
        <title>PODD 6.5 04/01/33 144A</title>
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        <name>ASML Holding N.V.</name>
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        <name>Mizuho Financial Group Inc.</name>
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        <name>Industria De Diseno Textil SA</name>
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        <name>ArcelorMittal S.A.</name>
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        <name>Adient Global Holdings Ltd</name>
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        <name>Mckesson Corp.</name>
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        <name>BOFA SECURITIES, INC.</name>
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        <name>Builders Firstsource, Inc.</name>
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        <name>Samsung Electronics Co Ltd.</name>
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        <name>TechnipFMC PLC</name>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <title>Caterpillar Inc COM</title>
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        <name>Nova Ltd</name>
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        <name>The Chemours Company LLC</name>
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        <title>CC 8 01/15/33 144A</title>
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        <name>Analog Devices Inc.</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices Inc. COM</title>
        <cusip>032654105</cusip>
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        <name>Equipmentshare Com Inc.</name>
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        <name>Ionis Pharmaceuticals, Inc.</name>
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        <name>Poste Italiane S.p.A.</name>
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        <name>Dollarama Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arista Networks Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Burlington Stores Inc.</name>
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        <name>Compass Inc.</name>
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        <name>Owens Brockway Glass Container Inc.</name>
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        <name>OSI System Inc.</name>
        <lei>DDX3MPX1Y8YD30050X33</lei>
        <title>OSIS 0.5 02/01/31</title>
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        <name>GFL Environmental Inc.</name>
        <lei>894500E7NLBY9VZRT696</lei>
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        <name>PIPER SANDLER COMPANIES</name>
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        <name>GDS Holdings Ltd.</name>
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      <invstOrSec>
        <name>Directv Financing LLC/Directv Financing Co-Obligor Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Crowdstrike Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LG Chem Ltd</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>LG Energy Solution Ltd</title>
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          <delta>XXXX</delta>
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        <name>DSV AS</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Microchip Technology Incorporated</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
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        <invCountry>TW</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JBT Marel Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>JBT Marel Corp</title>
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        <name>CACI International Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Quanta Computer Inc.</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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            <dbtSecRefInstrument>
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              <title>Quanta Computer Inc</title>
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      <invstOrSec>
        <name>JEFFERIES LLC</name>
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        <title>AAPL A 2026-03-20 CALL 310</title>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>JEFFERIES LLC</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Apple Inc.</issuerName>
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            <shareNo>N/A</shareNo>
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        <name>SK Hynix Inc.</name>
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        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>SK hynix Inc</title>
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        <name>Elis SA</name>
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              <title>Elis SA</title>
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      <invstOrSec>
        <name>Microchip Technology Incorporated</name>
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              <title>Microchip Technology Inc</title>
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      <invstOrSec>
        <name>Ligand Pharmaceuticals Incorporated</name>
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        <fairValLevel>2</fairValLevel>
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              <title>Ligand Pharmaceuticals Inc</title>
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      <invstOrSec>
        <name>Aritzia Inc</name>
        <lei>549300U83HKFRL1EX527</lei>
        <title>Aritzia Inc SUB VTG SHS</title>
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          <ticker value="ATZ"/>
          <other otherDesc="SEDOL" value="BDCG2C2"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cummins Inc.</name>
        <lei>ZUNI8PYC725B6H8JU438</lei>
        <title>Cummins Inc. COM</title>
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          <isin value="US2310211063"/>
          <ticker value="CMI"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Nissan Motor Acceptance Co LLC</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
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        <cusip>65480CAF2</cusip>
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          <isin value="US65480CAF23"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1039785.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.05000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SO 7.125 12/15/28 A</title>
        <cusip>842587842</cusip>
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          <isin value="US8425878423"/>
          <ticker value="SOMN"/>
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        <balance>24925.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1328502.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
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            <dbtSecRefInstrument>
              <name>Southern Co/The</name>
              <title>Southern Co/The</title>
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                <cusip value="842587107"/>
                <isin value="US8425871071"/>
                <ticker value="SO"/>
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          <currencyInfos>
            <currencyInfo convRatio="0.42940000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Japan Tobacco Inc</name>
        <lei>353800Z0ENYBQO0XRJ31</lei>
        <title>Japan Tobacco Inc NPV</title>
        <cusip>000000000</cusip>
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          <isin value="JP3726800000"/>
          <ticker value="2914"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNX Resources Corporation</name>
        <lei>549300JK3KH8PWM3B226</lei>
        <title>CNX 7.375 01/15/31 144A</title>
        <cusip>12653CAK4</cusip>
        <identifiers>
          <isin value="US12653CAK45"/>
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        <balance>1205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1250470.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>1011778 B.C. ULC</name>
        <lei>549300RHSHNRWI5LLA86</lei>
        <title>BCULC 6.125 06/15/29 144A</title>
        <cusip>68245XAR0</cusip>
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          <isin value="US68245XAR08"/>
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        <balance>2345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2413047.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Petco Health and Wellness Company Inc</name>
        <lei>2549007TYGV6RVSE9M61</lei>
        <title>WOOF 8.25 02/01/31 144A</title>
        <cusip>71601VAA3</cusip>
        <identifiers>
          <isin value="US71601VAA35"/>
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        <balance>895000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>874709.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CMOC Capital Limited</name>
        <lei>254900RVFDRGDY5WUQ83</lei>
        <title>CHMOLY 0 01/24/27</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3280521728"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1069774.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-24</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>CMOC Group Ltd</name>
              <title>CMOC Group Ltd</title>
              <curCd>HKD</curCd>
              <identifiers>
                <cusip value="000000000"/>
                <isin value="CNE100000114"/>
                <ticker value="3993"/>
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          <currencyInfos>
            <currencyInfo convRatio="27811.63039999" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chefs Warehouse Inc.</name>
        <lei>549300JYEDC8C547E980</lei>
        <title>CHEF 2.375 12/15/28</title>
        <cusip>163086AE1</cusip>
        <identifiers>
          <isin value="US163086AE15"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1201830.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Chefs' Warehouse Inc/The</name>
              <title>Chefs' Warehouse Inc/The</title>
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                <isin value="US1630861011"/>
                <ticker value="CHEF"/>
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          <currencyInfos>
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      <invstOrSec>
        <name>Navient Corporation</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>NAVI 9.375 07/25/30</title>
        <cusip>63938CAN8</cusip>
        <identifiers>
          <isin value="US63938CAN83"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>395333.64000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.37500000</annualizedRt>
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      <invstOrSec>
        <name>BWX Technologies Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWXT 0 11/01/30</title>
        <cusip>05605HAD2</cusip>
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          <isin value="US05605HAD26"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1567500.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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            <dbtSecRefInstrument>
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              <title>BWX Technologies Inc</title>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc. COM</title>
        <cusip>023135106</cusip>
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          <isin value="US0231351067"/>
          <ticker value="AMZN"/>
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        <curCd>USD</curCd>
        <valUSD>4222470.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CITGO Petroleum Corporation</name>
        <lei>YX52P86PXMLYDOTUQ225</lei>
        <title>CITPET 8.375 01/15/29 144A</title>
        <cusip>17302XAN6</cusip>
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          <isin value="US17302XAN66"/>
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        <balance>990000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1028965.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>The Chemours Company LLC</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>CC 7.875 03/15/34 144A</title>
        <cusip>163851AL2</cusip>
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          <isin value="US163851AL27"/>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490000.15000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L</title>
        <cusip>060505682</cusip>
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          <isin value="US0605056821"/>
          <ticker value="BACPL"/>
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        <balance>1050.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1305160.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>AXL 7.75 10/15/33 144A</title>
        <cusip>02406PBD1</cusip>
        <identifiers>
          <isin value="US02406PBD15"/>
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        <balance>1275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1296682.37000000</valUSD>
        <pctVal>0.288678217375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITADEL SECURITIES LLC</name>
        <lei>12UUJYTN7D3SW8KCSG25</lei>
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        <name>Zhen Ding Technology Holding Ltd.</name>
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        <name>Celanese US Holdings Llc</name>
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        <name>Williams Scotsman Inc.</name>
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        <name>Commercial Metals Company</name>
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        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Motorola Solutions Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Akamai Technologies, Inc.</name>
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        <name>Gray Media Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Parker-Hannifin Corp.</name>
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          <isin value="US7010941042"/>
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        <fairValLevel>1</fairValLevel>
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        <name>UCB SA</name>
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          <isin value="BE0003739530"/>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NVIDIA Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HudBay Minerals Inc</name>
        <lei>894500LX3TMESP27BE29</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Keppel Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Coca-Cola Co (The)</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co (The) COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ferrovial SE</name>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AST SpaceMobile Inc.</name>
        <lei>254900MBSC9P2UCI6623</lei>
        <title>ASTS 2 01/15/36</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SV RNO Property Owner 1 LLC</name>
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        <name>ROYAL BANK OF CANADA (TORONTO BRANCH)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Gold Pole Capital Co Ltd.</name>
        <lei>254900UYUS22SGHTR751</lei>
        <title>ZJMGCL 1 06/25/29</title>
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        <isRestrictedSec>N</isRestrictedSec>

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              <name>Zijin Mining Group Co Ltd</name>
              <title>Zijin Mining Group Co Ltd</title>
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        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc CL A</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Banca Mediolanum SpA</name>
        <lei>7LVZJ6XRIE7VNZ4UBX81</lei>
        <title>Banca Mediolanum SpA NPV</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEGRO PLC</name>
        <lei>213800XC35KGM9NFC641</lei>
        <title>SEGRO PLC ORD GBP0.10</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Apple Inc.</name>
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      <invstOrSec>
        <name>Cardinal Health, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DBS Group Holdings Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Granite Construction Inc</name>
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        <name>Loblaws Companies Ltd.</name>
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        <title>Loblaws Companies Ltd. COM NPV</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Link CB Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>Link REIT</title>
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                <ticker value="823"/>
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        <name>CANADIAN IMPERIAL BANK OF COMMERCE (TORONTO BRANCH)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Halozyme Therapeutics Inc</name>
        <lei>529900242I3SV9AGM753</lei>
        <title>HALO 0 02/15/31</title>
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        <fairValLevel>2</fairValLevel>
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              <title>Halozyme Therapeutics Inc</title>
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        <name>Accor SA</name>
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        <title>ACFP 0.7 12/07/27</title>
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              <title>Accor SA</title>
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        <name>AAR CORP</name>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>Acushnet Co</name>
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        <name>Wayfair LLC</name>
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        <name>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLF 7.625 01/15/34 144A</title>
        <cusip>18589GAA3</cusip>
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      </invstOrSec>
      <invstOrSec>
        <name>AVIS BUDGET CAR RENTAL LLC</name>
        <lei>XN8R4HH1TVC1XOCL5P21</lei>
        <title>CAR 8 02/15/31 144A</title>
        <cusip>053773BH9</cusip>
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          <isin value="US053773BH95"/>
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        <balance>985000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>977090.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP 0 02/19/31 BNP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400QC44"/>
          <other otherDesc="SEDOL" value="BVJ1914"/>
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        <balance>1300000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-19</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>BNP Paribas SA</title>
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                <cusip value="000000000"/>
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                <ticker value="BNP"/>
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          <currencyInfos>
            <currencyInfo convRatio="804.26650000" curCd="EUR"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HRI 7.25 06/15/33 144A</title>
        <cusip>42704LAG9</cusip>
        <identifiers>
          <isin value="US42704LAG95"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1639461.35000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASURION LLC</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>ASUCOR 8.375 02/01/34 144A</title>
        <cusip>045941AB7</cusip>
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          <isin value="US045941AB79"/>
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        <balance>1005000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000765.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rocket Companies Inc</name>
        <lei>N/A</lei>
        <title>RKT 7.125 02/01/32 144A</title>
        <cusip>77311WAD3</cusip>
        <identifiers>
          <isin value="US77311WAD39"/>
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        <balance>945000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>988823.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Singapore Telecommunications Ltd.</name>
        <lei>2549003XJKIQO8YDYD89</lei>
        <title>Singapore Telecommunications Ltd. NPV(BOARD LOT 100)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG1T75931496"/>
          <ticker value="ST"/>
          <other otherDesc="SEDOL" value="B02PY11"/>
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        <balance>543850.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.26490000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Walmart Inc</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc COM</title>
        <cusip>931142103</cusip>
        <identifiers>
          <isin value="US9311421039"/>
          <ticker value="WMT"/>
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        <balance>13664.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1748308.80000000</valUSD>
        <pctVal>0.389223050673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TransMedics Group Inc.</name>
        <lei>549300060GVOSMWARH50</lei>
        <title>TMDX 1.5 06/01/28</title>
        <cusip>89377MAB5</cusip>
        <identifiers>
          <isin value="US89377MAB54"/>
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        <balance>515000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>869809.25000000</valUSD>
        <pctVal>0.193644171892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>TransMedics Group Inc</name>
              <title>TransMedics Group Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="89377M109"/>
                <isin value="US89377M1099"/>
                <ticker value="TMDX"/>
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          <currencyInfos>
            <currencyInfo convRatio="10.63880000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rolls-Royce Holdings PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>Rolls-Royce Holdings PLC ORD GBP0.20</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B63H8491"/>
          <ticker value="RR/"/>
          <other otherDesc="SEDOL" value="B63H849"/>
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        <balance>106951.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74203000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Newell Brands Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>NWL 8.5 06/01/28 144A</title>
        <cusip>651229BG0</cusip>
        <identifiers>
          <isin value="US651229BG06"/>
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        <balance>1125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1184784.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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>Schneider Electric SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>SUFP 1.625 06/28/31 SUFP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400R1R6"/>
          <other otherDesc="SEDOL" value="BPLZ2P7"/>
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        <balance>1700000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84631000"/>
        <valUSD>2290462.96000000</valUSD>
        <pctVal>0.509921920398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Schneider Electric SE</name>
              <title>Schneider Electric SE</title>
              <curCd>EUR</curCd>
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                <cusip value="000000000"/>
                <isin value="FR0000121972"/>
                <ticker value="SU"/>
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          <currencyInfos>
            <currencyInfo convRatio="323.50860000" curCd="EUR"/>
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          <delta>XXXX</delta>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mitsubishi Heavy Industries Ltd.</name>
        <lei>353800TJ98PCAZROVE69</lei>
        <title>Mitsubishi Heavy Industries Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3900000005"/>
          <ticker value="7011"/>
          <other otherDesc="SEDOL" value="6597067"/>
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        <balance>61840.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.16500000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Prudential PLC</name>
        <lei>5493001Z3ZE83NGK8Y12</lei>
        <title>Prudential PLC GBP0.05</title>
        <cusip>000000000</cusip>
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          <isin value="GB0007099541"/>
          <ticker value="PRU"/>
          <other otherDesc="SEDOL" value="0709954"/>
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        <balance>102120.00000000</balance>
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        <valUSD>1564125.45000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eos Energy Enterprises Inc.</name>
        <lei>529900UCCJMLRGDXVT41</lei>
        <title>EOSE 1.75 12/01/31</title>
        <cusip>29415CAC5</cusip>
        <identifiers>
          <isin value="US29415CAC55"/>
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        <balance>565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>383917.50000000</valUSD>
        <pctVal>0.085470907975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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            <dbtSecRefInstrument>
              <name>Eos Energy Enterprises Inc</name>
              <title>Eos Energy Enterprises Inc</title>
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                <isin value="US29415C1018"/>
                <ticker value="EOSE"/>
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          <currencyInfos>
            <currencyInfo convRatio="61.37040000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Welltower OP LLC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>WELL 3.125 07/15/29</title>
        <cusip>95041AAD0</cusip>
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        <balance>2050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3401975.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Welltower Inc</name>
              <title>Welltower Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="95040Q104"/>
                <isin value="US95040Q1040"/>
                <ticker value="WELL"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="7.82100000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC ORD GBP0.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0008706128"/>
          <ticker value="LLOY"/>
          <other otherDesc="SEDOL" value="0870612"/>
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        <balance>859420.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74203000"/>
        <valUSD>1173985.12000000</valUSD>
        <pctVal>0.261362334761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>Cohu Inc</name>
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        <name>Permian Resources Operating, LLC</name>
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        <name>MACOM Technology Solutions Holdings Inc.</name>
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        <name>WULF Compute LLC</name>
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      <invstOrSec>
        <name>Truist Insurance Holdings LLC &amp; Panther Co-Issuer Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>XTALPI HOLDINGS LTD</name>
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        <name>Synaptics Incorporated</name>
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        <name>Royal Bank of Canada</name>
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        <name>ASURION LLC</name>
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        <name>Nokia Corp</name>
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        <title>Nokia Corp SPONSORED ADR</title>
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        <name>Bath &amp; Body Works Inc</name>
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        <name>Alphabet Inc.</name>
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        <title>Alphabet Inc. CAP STK CL A</title>
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        <name>Bloom Energy Corporation</name>
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        <title>BE 0 11/15/30</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eneos Holdings Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exact Sciences Corporation</name>
        <lei>549300VM3X1FYD4N9Z14</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Exact Sciences Corp</title>
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            <currencyInfo convRatio="10.06440000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Voestalpine AG</name>
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        <invCountry>AT</invCountry>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley COM NEW</title>
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          <isin value="US6174464486"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AeroVironment, Inc.</name>
        <lei>529900PGHVI29YLZ6221</lei>
        <title>AVAV 0 07/15/30</title>
        <cusip>008073AA6</cusip>
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          <isin value="US008073AA60"/>
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        <balance>715000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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              <title>AeroVironment Inc</title>
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      <invstOrSec>
        <name>Tesla Inc</name>
        <lei>54930043XZGB27CTOV49</lei>
        <title>Tesla Inc COM</title>
        <cusip>88160R101</cusip>
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          <ticker value="TSLA"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nexstar Media Inc.</name>
        <lei>5493006PK6I4I2OOT688</lei>
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        <cusip>65343HAA9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co. COM</title>
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          <ticker value="LLY"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>ELM BV</name>
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        <title>SPSNSW 1.625 05/31/30</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>Swiss Prime Site AG</title>
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        <name>Sandoz Group AG</name>
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        <name>Zoomlion Heavy Industry Science &amp; Technology Co Ltd.</name>
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        <name>Snap Inc</name>
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      <invstOrSec>
        <name>Northern Oil And Gas, Inc.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>NOG 8.75 06/15/31 144A</title>
        <cusip>665530AB7</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>ATOUR LIFESTYLE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>Atour Lifestyle Holdings Ltd. SPONSORED ADS</title>
        <cusip>04965M106</cusip>
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        <name>Liberty Energy Inc</name>
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        <name>Siemens Energy AG</name>
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        <name>Samsung Life Insurance Co Ltd.</name>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Array Technologies Inc</name>
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        <name>IMAX Corporation</name>
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        <name>Daiwa House Industry Co Ltd.</name>
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        <name>Stonepeak Nile Parent LLC</name>
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        <name>Microsoft Corp.</name>
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        <name>BARCLAYS CAPITAL INC.</name>
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        <name>GE Vernova Inc.</name>
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        <name>Chart Industries Inc</name>
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        <name>Broadcom Inc</name>
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        <name>NCL Corporation Ltd.</name>
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              <title>Norwegian Cruise Line Holdings Ltd</title>
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        <name>Carnival Corporation</name>
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        <name>China Hongqiao Group Limited</name>
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        <title>HONGQI 1.5 03/26/30</title>
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              <title>China Hongqiao Group Ltd</title>
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        <name>Tandem Diabetes Care Inc</name>
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        <name>Rivian Automotive Inc</name>
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        <name>Ping An Insurance (Group) Company of China Ltd.</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Concentra Health Services Inc.</name>
        <lei>984500GB84105F75DE32</lei>
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        <cusip>20600DAA1</cusip>
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      <invstOrSec>
        <name>CLARIOS GLOBAL LP</name>
        <lei>549300474L1ZLXZY2P98</lei>
        <title>POWSOL 6.75 09/15/32 144A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MKS Inc.</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKSI 1.25 06/01/30</title>
        <cusip>55306NAB0</cusip>
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        <valUSD>1742000.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Rocket Companies Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tenneco LLC</name>
        <lei>549300U0EXXFAQFAD785</lei>
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        <balance>970000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Swiss Prime Site AG</name>
        <lei>506700XI9H64OPR34158</lei>
        <title>SPSNSW 0 03/05/32</title>
        <cusip>000000000</cusip>
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          <isin value="CH1533150970"/>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-05</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Swiss Prime Site AG</title>
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                <isin value="CH0008038389"/>
                <ticker value="SPSN"/>
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          <currencyInfos>
            <currencyInfo convRatio="1162.03400000" curCd="CHF"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>Bridgebio Pharma Inc</name>
        <lei>54930028YG89VTY2J114</lei>
        <title>BBIO 2.25 02/01/29</title>
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          <isin value="US10806XAD49"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Bridgebio Pharma Inc</name>
              <title>Bridgebio Pharma Inc</title>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Iberdrola Finanzas S.A.U.</name>
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        <title>IBESM 1.5 03/27/30 IBE</title>
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          <isin value="XS3034368806"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Iberdrola SA</name>
              <title>Iberdrola SA</title>
              <curCd>EUR</curCd>
              <identifiers>
                <cusip value="000000000"/>
                <isin value="ES0144580Y14"/>
                <ticker value="IBE"/>
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          <currencyInfos>
            <currencyInfo convRatio="5647.06950000" curCd="EUR"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>Quikrete Holdings Inc</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>QUIKHO 6.75 03/01/33 144A</title>
        <cusip>74843PAB6</cusip>
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          <isin value="US74843PAB67"/>
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        <balance>1910000.00000000</balance>
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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>2033-03-01</maturityDt>
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      <invstOrSec>
        <name>NCL Corporation Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCLH 6.75 02/01/32 144A</title>
        <cusip>62886HBR1</cusip>
        <identifiers>
          <isin value="US62886HBR12"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>TIGO 7.375 04/02/32 144A</title>
        <cusip>600814AS6</cusip>
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          <isin value="US600814AS68"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sirius Xm Radio Inc</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>SIRI 5.875 04/15/32 144A</title>
        <cusip>82966BAA3</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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        <name>BlackRock Liquidity Funds</name>
        <lei>5493007YVNX55LTRQ706</lei>
        <title>BlackRock Liquidity Funds FEDFUND INSTL</title>
        <cusip>09248U700</cusip>
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          <isin value="US09248U7000"/>
          <ticker value="TFDXX"/>
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        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson COM</title>
        <cusip>478160104</cusip>
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          <isin value="US4781601046"/>
          <ticker value="JNJ"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Munters Group Ab</name>
        <lei>549300KYCB37YAVUV523</lei>
        <title>Munters Group Ab NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0009806607"/>
          <ticker value="MTRS"/>
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        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Uber Technologies Inc</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>UBER 0.875 12/01/28 2028</title>
        <cusip>90353TAM2</cusip>
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          <isin value="US90353TAM27"/>
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        <balance>700000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Uber Technologies Inc</title>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc. COM</title>
        <cusip>00287Y109</cusip>
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          <ticker value="ABBV"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Guardant Health Inc</name>
        <lei>254900M8C3E5VC8BR186</lei>
        <title>GH 0 05/15/33</title>
        <cusip>40131MAE9</cusip>
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        <balance>1410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1510462.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
          <couponKind>None</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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      <invstOrSec>
        <name>CRH PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sompo Holdings Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHIFT4 PAYMENTS LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Churchill Downs Inc</name>
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        <name>Datadog Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>International Consolidated Airlines Group S.A.</name>
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        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>International Consolidated Airlines Group SA</title>
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        <name>MIZUHO BANK LTD (NEW YORK BRANCH)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QXO Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Legrand SA</name>
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              <title>Legrand SA</title>
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        <name>Galderma Group AG</name>
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        <name>Semtech Corporation</name>
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        <name>CITADEL SECURITIES LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issueTitle>Cardinal Health, Inc. COM</issueTitle>
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        <name>Terawulf Inc</name>
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        <name>Cloudflare Inc</name>
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        <name>NextEra Energy Capital Holdings Inc</name>
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        <name>Caesars Entertainment Inc.</name>
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        <name>Coinbase Global Inc</name>
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              <title>Coinbase Global Inc</title>
              <curCd>EUR</curCd>
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                <cusip value="19260Q107"/>
                <isin value="US19260Q1076"/>
                <ticker value="COINV"/>
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          <currencyInfos>
            <currencyInfo convRatio="2.20050000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ping An Insurance (Group) Company of China Ltd.</name>
        <lei>529900M9MC28JLN35U89</lei>
        <title>PINGRP 0.875 07/22/29</title>
        <cusip>000000000</cusip>
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          <isin value="XS2859746237"/>
          <other otherDesc="SEDOL" value="BS6WKG1"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1348600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>PING AN</name>
              <title>Ping An Insurance Group Co of China Ltd</title>
              <curCd>HKD</curCd>
              <identifiers>
                <cusip value="000000000"/>
                <isin value="CNE1000003X6"/>
                <ticker value="2318"/>
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          <currencyInfos>
            <currencyInfo convRatio="19283.52820000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bolt Innovation Ltd.</name>
        <lei>984500D4K00C69FI9C39</lei>
        <title>JTGLEX 0 02/05/33</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3277175371"/>
          <other otherDesc="SEDOL" value="BLBNJY1"/>
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        <balance>9000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-05</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>J&amp;T Global Express Ltd</name>
              <title>J&amp;T Global Express Ltd</title>
              <curCd>HKD</curCd>
              <identifiers>
                <cusip value="000000000"/>
                <isin value="KYG4990A1040"/>
                <ticker value="1519"/>
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          <currencyInfos>
            <currencyInfo convRatio="68728.52229999" curCd="HKD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Arrowhead Pharmaceuticals Inc</name>
        <lei>549300O3CSB8T7OZ3D66</lei>
        <title>ARWR 0 01/15/32</title>
        <cusip>04280AAC4</cusip>
        <identifiers>
          <isin value="US04280AAC45"/>
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        <balance>240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253320.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Arrowhead Pharmaceuticals Inc</name>
              <title>Arrowhead Pharmaceuticals Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="04280A100"/>
                <isin value="US04280A1007"/>
                <ticker value="ARWR"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="11.48440000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iron Mountain Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRM 7 02/15/29 144A</title>
        <cusip>46284VAP6</cusip>
        <identifiers>
          <isin value="US46284VAP67"/>
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        <balance>995000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1021748.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Finance Corp</name>
        <lei>549300FR80KBVO6DRL61</lei>
        <title>GS 1.5 08/23/27 DmtN</title>
        <cusip>40058FLR2</cusip>
        <identifiers>
          <isin value="US40058FLR28"/>
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        <balance>2535000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2639949.00000000</valUSD>
        <pctVal>0.587727410285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chugai Pharmaceutical Co Ltd.</name>
        <lei>529900T9LAII161DCN95</lei>
        <title>Chugai Pharmaceutical Co Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3519400000"/>
          <ticker value="4519"/>
          <other otherDesc="SEDOL" value="6196408"/>
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        <balance>22645.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.16500000"/>
        <valUSD>1526960.39000000</valUSD>
        <pctVal>0.339944626060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS LIMITED</name>
        <lei>XKZZ2JZF41MRHTR1V493</lei>
        <title>GOOGL A 2026-03-20 CALL 380</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="GOOGL 260320C00380000"/>
          <other otherDesc="FIGI" value="BBG01Y2X06J5"/>
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        <balance>-113.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1017.00000000</valUSD>
        <pctVal>-0.00022641300</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS LIMITED</counterpartyName>
              <counterpartyLei>XKZZ2JZF41MRHTR1V493</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Alphabet Inc.</issuerName>
                <issueTitle>Alphabet Inc. CAP STK CL A</issueTitle>
                <identifiers>
                  <cusip value="02079K305"/>
                  <isin value="US02079K3059"/>
                  <ticker value="GOOGL"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>N/A</shareNo>
            <exercisePrice>380.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>10698.42000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GF Securities Co Ltd.</name>
        <lei>3003007E0Y3ZJ5HNA936</lei>
        <title>GFSECU 0 01/12/27</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3246803814"/>
          <other otherDesc="SEDOL" value="BTZC263"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="HKD" exchangeRt="7.82340000"/>
        <valUSD>788020.55000000</valUSD>
        <pctVal>0.175435691031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-12</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>GF Securities Co Ltd</name>
              <title>GF Securities Co Ltd</title>
              <curCd>HKD</curCd>
              <identifiers>
                <cusip value="000000000"/>
                <isin value="CNE100001TQ9"/>
                <ticker value="1776"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="100908.17359999" curCd="HKD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Strategy Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>MSTR 0.875 03/15/31</title>
        <cusip>594972AL5</cusip>
        <identifiers>
          <isin value="US594972AL50"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>725437.50000000</valUSD>
        <pctVal>0.161502931760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Strategy Inc</name>
              <title>Strategy Inc</title>
              <curCd>EUR</curCd>
              <identifiers>
                <cusip value="594972408"/>
                <isin value="US5949724083"/>
                <ticker value="MIGA"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="4.29700000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Waste Pro USA Inc</name>
        <lei>549300BY1QXU5BI3UF28</lei>
        <title>WASPRO 7 02/01/33 144A</title>
        <cusip>94107JAC7</cusip>
        <identifiers>
          <isin value="US94107JAC71"/>
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        <balance>905000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>944137.63000000</valUSD>
        <pctVal>0.210191774247</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Valero Energy Corp.</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>Valero Energy Corp. COM</title>
        <cusip>91913Y100</cusip>
        <identifiers>
          <isin value="US91913Y1001"/>
          <ticker value="VLO"/>
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        <balance>3870.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>791956.80000000</valUSD>
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        <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>
      <invstOrSec>
        <name>CITADEL SECURITIES LLC</name>
        <lei>12UUJYTN7D3SW8KCSG25</lei>
        <title>CITADEL SECURITIES LLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="5147980479"/>
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        <balance>2454984.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2454984.00000000</valUSD>
        <pctVal>0.546548963109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="12UUJYTN7D3SW8KCSG25" name="CITADEL SECURITIES LLC"/>
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          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.74000000</repurchaseRt>
          <maturityDt>2026-03-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>3494437.99956128</principalAmt>
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              <collateralVal>2505118.81388906</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
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          </repurchaseCollaterals>
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        <securityLending>
          <cashCollateralCondition cashCollateralVal="2454984.00000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jinkai Investment Holdings Ltd.</name>
        <lei>254900SACG78Z9C9V725</lei>
        <title>ZJMGCL 0 02/05/31</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3257747207"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>613783.03000000</valUSD>
        <pctVal>0.136645484704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-05</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Zijin Mining Group Co Ltd</name>
              <title>Zijin Mining Group Co Ltd</title>
              <curCd>HKD</curCd>
              <identifiers>
                <cusip value="000000000"/>
                <isin value="CNE100000502"/>
                <ticker value="2899"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="12326.54029999" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ameritex Holdco Inter LLC</name>
        <lei>N/A</lei>
        <title>AMEPIP 7.625 08/15/33 144A</title>
        <cusip>030727AB7</cusip>
        <identifiers>
          <isin value="US030727AB71"/>
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        <balance>1085000.00000000</balance>
        <units>PA</units>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wynn Macau Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>Wynn Macau Ltd</title>
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        <name>VSE Corp.</name>
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              <title>VSE Corp. COM</title>
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        <name>UBS AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Rockwell Automation, Inc.</name>
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        <name>OneMain Financial Corporation</name>
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        <name>Goodyear Tire &amp; Rubber Co. The</name>
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        <name>KB Financial Group Inc.</name>
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        <name>Global Medical Response Incorporated</name>
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      <invstOrSec>
        <name>The Estee Lauder Companies Inc.</name>
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        <title>The Estee Lauder Companies Inc. CL A</title>
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        <name>Sofi Technologies Inc</name>
        <lei>549300SW81JCMVZDDY09</lei>
        <title>SOFI 0 10/15/26</title>
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              <title>SoFi Technologies Inc</title>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <title>MSFT A 2026-03-20 CALL 485</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Envista Holdings Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ANYWHERE REAL ESTATE GROUP LLC</name>
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      <invstOrSec>
        <name>Merck &amp; Co., Inc</name>
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        <name>Talen Energy Supply LLC</name>
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      <invstOrSec>
        <name>Post Holdings Inc.</name>
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        <name>Fortress Transportation &amp; Infrastructure Investors LLC</name>
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        <title>FTAI 7.875 12/01/30 144A</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bombardier Inc.</name>
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        <title>BBDBCN 6.75 06/15/33 144A</title>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Viavi Solutions Inc</name>
        <lei>5493006K3E3N1QOBF092</lei>
        <title>VIAV 0.625 03/01/31</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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              <title>Viavi Solutions Inc</title>
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        <name>Insmed Inc</name>
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        <title>Insmed Inc COM PAR $.01</title>
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        <name>BNP PARIBAS SECURITIES (ASIA) LIMITED</name>
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        <invCountry>HK</invCountry>

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      <invstOrSec>
        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>BABA 0 09/15/32</title>
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        <invCountry>KY</invCountry>

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        <name>Ibiden Co Ltd.</name>
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        <title>IBIDEN 0 03/14/31</title>
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        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>LYV 2.875 01/15/30</title>
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              <title>Live Nation Entertainment Inc</title>
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      <invstOrSec>
        <name>Digital Realty Trust, L.P.</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>DLR 1.875 11/15/29</title>
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        <invCountry>US</invCountry>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Digital Realty Trust Inc</name>
              <title>Digital Realty Trust Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="253868103"/>
                <isin value="US2538681030"/>
                <ticker value="DLR"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="4.79980000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLOUD SOFTWARE GROUP HOLDINGS INC</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>TIBX 6.5 03/31/29 144A</title>
        <cusip>88632QAE3</cusip>
        <identifiers>
          <isin value="US88632QAE35"/>
        </identifiers>
        <balance>990000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>971731.53000000</valUSD>
        <pctVal>0.216334957841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tenet Healthcare Corporation</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>THC 6 11/15/33 144A</title>
        <cusip>88033GDV9</cusip>
        <identifiers>
          <isin value="US88033GDV95"/>
        </identifiers>
        <balance>1345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1390790.53000000</valUSD>
        <pctVal>0.309629358917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MP Materials Corp</name>
        <lei>89450063PHPS61USMT84</lei>
        <title>MPUS 3 03/01/30</title>
        <cusip>553368AC5</cusip>
        <identifiers>
          <isin value="US553368AC59"/>
        </identifiers>
        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>785537.50000000</valUSD>
        <pctVal>0.174882893781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>MP Materials Corp</name>
              <title>MP Materials Corp</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="553368101"/>
                <isin value="US5533681012"/>
                <ticker value="MP"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="45.99390000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENMAB A/S</name>
        <lei>529900MTJPDPE4MHJ122</lei>
        <title>GMABDC 7.25 12/15/33 144A</title>
        <cusip>37230JAB8</cusip>
        <identifiers>
          <isin value="US37230JAB89"/>
        </identifiers>
        <balance>1285000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1364298.64000000</valUSD>
        <pctVal>0.303731513958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRA Group Inc.</name>
        <lei>549300Q5HW3JSSB86K27</lei>
        <title>PRAA 8.375 02/01/28 144A</title>
        <cusip>69354NAE6</cusip>
        <identifiers>
          <isin value="US69354NAE67"/>
        </identifiers>
        <balance>660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>665547.08000000</valUSD>
        <pctVal>0.148169628182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alignment Healthcare Inc</name>
        <lei>N/A</lei>
        <title>ALHC 4.25 11/15/29</title>
        <cusip>01625VAB0</cusip>
        <identifiers>
          <isin value="US01625VAB09"/>
        </identifiers>
        <balance>635000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>950118.75000000</valUSD>
        <pctVal>0.211523340943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Alignment Healthcare Inc</name>
              <title>Alignment Healthcare Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="01625V104"/>
                <isin value="US01625V1044"/>
                <ticker value="ALHC"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="62.35390000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="950118.75000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Voya Equity Trust</ncom:nameOfApplicant>
      <ncom:signature>Dorothy Roman</ncom:signature>
      <ncom:signerName>Dorothy Roman</ncom:signerName>
      <ncom:title>Vice President, Fund Administration</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>