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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>BRF GmbH</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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          <isin value="US3137G0GT00"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
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          <isin value="US33844KAA43"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altice Luxembourg SA</name>
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      <invstOrSec>
        <name>Santander UK plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3135G0U359"/>
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        <balance>2327000.00000000</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>2021-06-22</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <name>FNMA</name>
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          <isin value="US3140FKHG82"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SGSP Australia Assets Pty. Ltd.</name>
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          <isin value="XS0836488485"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCUA Guaranteed Notes</name>
        <lei>N/A</lei>
        <title>NCUA Guaranteed Notes</title>
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          <isin value="US62889KAE10"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Rumo Luxembourg SARL</name>
        <lei>222100HOIQFT7YOSPB46</lei>
        <title>Rumo Luxembourg SARL</title>
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          <isin value="US781467AB16"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-18</maturityDt>
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        <name>Alternative Loan Trust</name>
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          <isin value="US02150BAA70"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-BTP</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Micron Technology, Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology, Inc.</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US912828TE09"/>
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        <balance>4163300.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
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          <isin value="US29278NAH61"/>
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        <balance>87000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>92914.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Mid-America Apartments LP</name>
        <lei>549300FXWGE3QSYCUJ38</lei>
        <title>Mid-America Apartments LP</title>
        <cusip>59523UAN7</cusip>
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          <isin value="US59523UAN72"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>843576.00000000</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>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eagle RE Ltd.</name>
        <lei>549300BLEDGL5R7YKU33</lei>
        <title>Eagle RE Ltd., Series 2018-1, Class M1</title>
        <cusip>269826AA1</cusip>
        <identifiers>
          <isin value="US269826AA19"/>
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        <balance>139593.18000000</balance>
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        <curCd>USD</curCd>
        <valUSD>139933.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.71837900</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust, Series 2005-3, Class 2A2A</title>
        <cusip>17307GTJ7</cusip>
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          <isin value="US17307GTJ75"/>
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        <balance>15319.05000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15582.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.56571100</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>GSR Mortgage Loan Trust, Series 2005-8F, Class 4A1</title>
        <cusip>362341WE5</cusip>
        <identifiers>
          <isin value="US362341WE59"/>
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        <balance>625589.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506716.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Odebrecht Drilling Norbe VIII/IX Ltd.</name>
        <lei>549300YNW6BY570L6488</lei>
        <title>Odebrecht Drilling Norbe VIII/IX Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USG67106AB35"/>
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        <balance>86947.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85887.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Resolution Funding Corp.</name>
        <lei>N/A</lei>
        <title>Resolution Funding Corp.</title>
        <cusip>76116FAD9</cusip>
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          <isin value="US76116FAD96"/>
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        <balance>4157000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4094699.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Adjustable Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Adjustable Rate Mortgage Trust, Series 2005-5, Class 2A1</title>
        <cusip>007036LJ3</cusip>
        <identifiers>
          <isin value="US007036LJ33"/>
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        <balance>99143.49000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95225.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.60695600</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CRH America Finance, Inc.</name>
        <lei>549300WEVUODRJ4CWK56</lei>
        <title>CRH America Finance, Inc.</title>
        <cusip>12636YAD4</cusip>
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          <isin value="US12636YAD40"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1070387.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Campbell Soup Co.</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>Campbell Soup Co.</title>
        <cusip>134429BD0</cusip>
        <identifiers>
          <isin value="US134429BD04"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013617.70000000</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>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
        <cusip>785592AE6</cusip>
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          <isin value="US785592AE61"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Marlette Funding Trust</name>
        <lei>54930083FUKNQ9ZNFO83</lei>
        <title>Marlette Funding Trust, Series 2017-3A, Class B</title>
        <cusip>57109DAB7</cusip>
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        <balance>79743.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79772.31000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.01000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140HBFG8</cusip>
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        <balance>1411836.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1475453.42000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-OAT</title>
        <cusip>N/A</cusip>
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        <units>NC</units>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
        <title>WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR14, Class 1A4</title>
        <cusip>93363PAD2</cusip>
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        <balance>528379.70000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>20451832.77000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <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</title>
        <cusip>539439AK5</cusip>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405310.16000000</valUSD>
        <pctVal>0.024823695751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Carlyle Finance Subsidiary LLC</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>BAT Capital Corp.</name>
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        <name>NTT Finance Corp.</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Tesco Property Finance 5 plc</name>
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        <name>Rio Oil Finance Trust</name>
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        <name>FNMA</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Nationwide Mutual Insurance Co.</name>
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      <invstOrSec>
        <name>MUFG Bank Ltd.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>General Electric Co.</name>
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        <name>Sudbury Mill CLO Ltd.</name>
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        <name>FNMA</name>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>Hewlett Packard Enterprise Co.</name>
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        <name>Occidental Petroleum Corp.</name>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
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        <name>Glencore Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mondelez International Holdings Netherlands BV</name>
        <lei>549300CW356R8I7N8D33</lei>
        <title>Mondelez International Holdings Netherlands BV</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DuPont de Nemours, Inc.</name>
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        <title>DuPont de Nemours, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Komatsu Finance America, Inc.</name>
        <lei>549300SRAAFEEQ8Z4D68</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.21999800</annualizedRt>
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      <invstOrSec>
        <name>Bellemeade Re Ltd.</name>
        <lei>254900SCWI9IDKK5LV64</lei>
        <title>Bellemeade Re Ltd., Series 2019-3A, Class M1B</title>
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          <isin value="BM07877GAB52"/>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-25</maturityDt>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Marathon Oil Corp.</name>
        <lei>1FRVQX2CRLGC1XLP5727</lei>
        <title>Marathon Oil Corp.</title>
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          <isin value="US565849AL02"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
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        <title>CVS Health Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Telstra Corp. Ltd.</name>
        <lei>PCTXNQGRJVR3OG33JG65</lei>
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        <name>SoFi Consumer Loan Program LLC</name>
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        <name>Bellemeade Re Ltd.</name>
        <lei>2549002JVH34IWRT3X93</lei>
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        <name>FFCB</name>
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        <title>FFCB</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>Jackson National Life Global Funding</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-15</maturityDt>
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        <name>CVP Cascade CLO-1 Ltd.</name>
        <lei>254900KC4K0L2UHEOP63</lei>
        <title>CVP Cascade CLO-1 Ltd., Series 2013-CLO1, Class A1R</title>
        <cusip>126612AJ9</cusip>
        <identifiers>
          <isin value="US126612AJ93"/>
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        <balance>421047.30000000</balance>
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        <curCd>USD</curCd>
        <valUSD>421163.51000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-16</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS-Barclays Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135FAD3</cusip>
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          <isin value="US11135FAD33"/>
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        <balance>930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>946071.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P Global, Inc.</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P Global, Inc.</title>
        <cusip>78409VAK0</cusip>
        <identifiers>
          <isin value="US78409VAK08"/>
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        <balance>316000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>354688.39000000</valUSD>
        <pctVal>0.021723306121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Argentine Republic</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Republic of Argentina</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ARARGE3203R1"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="ARS" exchangeRt="57.60100000"/>
        <valUSD>995.80000000</valUSD>
        <pctVal>0.000060988938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>55.46875100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="CDBAD8E"/>
          <other otherDesc="Option Ticker" value="TYZ9P 117.00 Comdty"/>
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        <balance>15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Note</issueTitle>
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                  <ticker value="TYZ9 Comdty"/>
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            <shareNo>100000.00000000</shareNo>
            <exercisePrice>117.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-129.00000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Doric Nimrod Air Finance Alpha Ltd. Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Doric Nimrod Air Finance Alpha Ltd. Pass-Through Trust, Series 2012-1, Class A</title>
        <cusip>258258AA0</cusip>
        <identifiers>
          <isin value="US258258AA01"/>
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        <balance>275723.17320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>282698.97000000</valUSD>
        <pctVal>0.017314229725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
        <title>Western Midstream Operating LP</title>
        <cusip>958254AK0</cusip>
        <identifiers>
          <isin value="US958254AK08"/>
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        <balance>64000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62802.56000000</valUSD>
        <pctVal>0.003846416388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YAL3</cusip>
        <identifiers>
          <isin value="US00287YAL39"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>815304.00000000</valUSD>
        <pctVal>0.049934248972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 2 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="TUZ9COM"/>
          <other otherDesc="Future Ticker" value="TUZ9 Comdty"/>
        </identifiers>
        <balance>6.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-835.51000000</valUSD>
        <pctVal>-0.00005117178</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 2 Year Note</issueTitle>
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                  <cusip value="912828XY1"/>
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            </descRefInstrmnt>
            <expDate>2019-12-31</expDate>
            <notionalAmt>1293000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-835.51000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>9128282L3</cusip>
        <identifiers>
          <isin value="US9128282L36"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1171029.69000000</valUSD>
        <pctVal>0.071721085748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3137EADB2</cusip>
        <identifiers>
          <isin value="US3137EADB22"/>
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        <balance>46804000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47551188.42000000</valUSD>
        <pctVal>2.912328262236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31371PCG3</cusip>
        <identifiers>
          <isin value="US31371PCG37"/>
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        <balance>20783.25640000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22513.62000000</valUSD>
        <pctVal>0.001378873041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G0T60</cusip>
        <identifiers>
          <isin value="US3135G0T609"/>
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        <balance>23405000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23334080.51000000</valUSD>
        <pctVal>1.429123107131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CVS Pass-Through Trust</title>
        <cusip>126650AQ3</cusip>
        <identifiers>
          <isin value="US126650AQ30"/>
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        <balance>219678.46570000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239214.85000000</valUSD>
        <pctVal>0.014650993835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.78900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>21H0406B4</cusip>
        <identifiers>
          <isin value="US21H0406B47"/>
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        <balance>25500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26509042.65000000</valUSD>
        <pctVal>1.623577384281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F0326C3</cusip>
        <identifiers>
          <isin value="US01F0326C31"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5129492.00000000</valUSD>
        <pctVal>0.314161749030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2004-12, Class 11A1</title>
        <cusip>12669FN58</cusip>
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        <name>Ashford Hospitality Trust</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>N/A</name>
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        <name>FNMA</name>
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        <name>BB&amp;T Corp.</name>
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        <name>Delta Air Lines, Inc.</name>
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        <name>Ally Master Owner Trust</name>
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        <name>AIB Group plc</name>
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        <title>AIB Group plc</title>
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        <name>Staniford Street CLO Ltd.</name>
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        <name>Evans Grove CLO Ltd.</name>
        <lei>549300O71GCRFBJILJ09</lei>
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        <cusip>29915RAA1</cusip>
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        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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        <name>Morgan Stanley Capital I Trust</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust, Inc.</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc., Series 2005-2, Class 1A4</title>
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          <isin value="US17307GRE07"/>
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        <balance>1087.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1099.72000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.38846100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38148LAE6</cusip>
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          <isin value="US38148LAE65"/>
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        <balance>234000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>247598.98000000</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>2025-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
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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>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
        <cusip>3133EJK24</cusip>
        <identifiers>
          <isin value="US3133EJK243"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5137054.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H10, Class FB</title>
        <cusip>38375UZZ6</cusip>
        <identifiers>
          <isin value="US38375UZZ64"/>
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        <balance>1665656.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1694267.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.62900200</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Braemar Hotels &amp; Resorts Trust</name>
        <lei>N/A</lei>
        <title>Braemar Hotels &amp; Resorts Trust, Series 2018-PRME, Class A</title>
        <cusip>10482TAA0</cusip>
        <identifiers>
          <isin value="US10482TAA07"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298492.89000000</valUSD>
        <pctVal>0.018281546865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.84749900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2007-S3, Class 1A90</title>
        <cusip>46631NDT3</cusip>
        <identifiers>
          <isin value="US46631NDT37"/>
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        <balance>64758.63270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54832.75000000</valUSD>
        <pctVal>0.003358296034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="136423"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-16765.70000000</valUSD>
        <pctVal>-0.00102683494</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <settlementDt>2019-11-15</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Simon Property Group LP</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>Simon Property Group LP</title>
        <cusip>828807DF1</cusip>
        <identifiers>
          <isin value="US828807DF17"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>782452.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bayer US Finance II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC</title>
        <cusip>07274NAJ2</cusip>
        <identifiers>
          <isin value="US07274NAJ28"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1066214.00000000</valUSD>
        <pctVal>0.065301525975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417V3X9</cusip>
        <identifiers>
          <isin value="US31417V3X95"/>
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        <balance>41293.21610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44705.38000000</valUSD>
        <pctVal>0.002738033390</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22535WAA5</cusip>
        <identifiers>
          <isin value="US22535WAA53"/>
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        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>326762.56000000</valUSD>
        <pctVal>0.020012955935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810EJ3</cusip>
        <identifiers>
          <isin value="US912810EJ35"/>
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        <balance>355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391023.48000000</valUSD>
        <pctVal>0.023948691291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Impac Secured Assets CMN Owner Trust</name>
        <lei>N/A</lei>
        <title>Impac Secured Assets CMN Owner Trust, Series 2005-1, Class 5A1</title>
        <cusip>45254TRS5</cusip>
        <identifiers>
          <isin value="US45254TRS59"/>
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        <balance>297588.47000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246357.72000000</valUSD>
        <pctVal>0.015088467279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.28838000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22535WAE7</cusip>
        <identifiers>
          <isin value="US22535WAE75"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>835250.16000000</valUSD>
        <pctVal>0.051155874917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>
        <name>Spectrum Brands, Inc.</name>
        <lei>549300VU3EH2E73C1Q04</lei>
        <title>Spectrum Brands, Inc.</title>
        <cusip>84762LAU9</cusip>
        <identifiers>
          <isin value="US84762LAU98"/>
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        <balance>227000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236872.23000000</valUSD>
        <pctVal>0.014507517327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLP Capital LP</name>
        <lei>N/A</lei>
        <title>GLP Capital LP</title>
        <cusip>361841AJ8</cusip>
        <identifiers>
          <isin value="US361841AJ81"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>660618.00000000</valUSD>
        <pctVal>0.040460323619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828VS6</cusip>
        <identifiers>
          <isin value="US912828VS66"/>
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        <balance>15093000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15618013.02000000</valUSD>
        <pctVal>0.956543510887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>UBS Group Funding Switzerland AG</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>FNMA</name>
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        <name>Evergreen Credit Card Trust</name>
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        <name>FNMA</name>
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        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
        <name>Credit Suisse Group AG</name>
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        <name>Syngenta Finance NV</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth Bank of Australia</name>
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        <name>TransDigm, Inc.</name>
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        <name>N/A</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <name>FNMA</name>
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        <name>GS Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BCAP LLC Trust</name>
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          <isin value="US05536LAH87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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          <isin value="US93363DAA54"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-25</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kensington Mortgage Securities plc</name>
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          <isin value="XS0292652756"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-14</maturityDt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KLA Corp.</name>
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        <title>KLA Corp.</title>
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        <balance>312000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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        <name>CIFC Funding Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
        <lei>549300PXR5FKNXF0OH19</lei>
        <title>Credit Suisse Group Funding Guernsey Ltd.</title>
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        <invCountry>GG</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Bayer US Finance LLC</name>
        <lei>54930093Q75GSEM74I71</lei>
        <title>Bayer US Finance LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC, Series 2018-2A, Class A</title>
        <cusip>05377RDC5</cusip>
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        <name>Textron, Inc.</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron, Inc.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="135398"/>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Noble Energy, Inc.</name>
        <lei>02VFQXG2D1LR5ZH3K186</lei>
        <title>Noble Energy, Inc.</title>
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        <balance>307000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>549300GADFYEKC4OLM57</lei>
        <title>WFRBS Commercial Mortgage Trust, Series 2013-C14, Class C</title>
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        <balance>265000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.11010600</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp. (The)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp. (The), Series E</title>
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          <isin value="US064058AD28"/>
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        <balance>309000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Sprint Spectrum Co. LLC</name>
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        <name>Consumer Loan Underlying Bond Credit Trust</name>
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        <name>United States of America</name>
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          <isin value="US912828U576"/>
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          <isin value="US912828C574"/>
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        <name>Incitec Pivot Finance LLC</name>
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        <title>Incitec Pivot Finance LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-12-10</maturityDt>
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        <name>Brixmor Operating Partnership LP</name>
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          <isin value="US11120VAE39"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
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        <title>3 Month Euro Euribor</title>
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          <isin value="GB00H1QMN124"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912828B907"/>
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        <name>Altice France SA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Standard Chartered plc</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <curCd>USD</curCd>
        <valUSD>267685.09000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Exelon Generation Co. LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
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        <balance>259000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>259299.79000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <currencyConditional curCd="EUR" exchangeRt="0.91747329"/>
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        <pctVal>-0.00121027274</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <writtenOrPur>Written</writtenOrPur>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>Standard Chartered plc</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
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        <name>Lloyds Banking Group plc</name>
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        <name>Takeda Pharmaceutical Co. Ltd.</name>
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        <name>UBS Commercial Mortgage Trust</name>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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        <balance>500000.00000000</balance>
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        <valUSD>500008.40000000</valUSD>
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        <debtSec>
          <maturityDt>2019-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Central Nippon Expressway Co. Ltd.</name>
        <lei>3538005TH2GJERPBFN83</lei>
        <title>Central Nippon Expressway Co. Ltd.</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Cigna Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Panther BF Aggregator 2 LP</name>
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          <isin value="XS1964642471"/>
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        <balance>175000.00000000</balance>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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          <isin value="US9128284N73"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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          <isin value="US05526DAV73"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-15</maturityDt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Schatz</title>
        <cusip>N/A</cusip>
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          <isin value="DE000C317NU7"/>
          <other otherDesc="Future Ticker" value="DUZ9 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>Federal Republic of Germany</issuerName>
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        <name>Alternative Loan Trust</name>
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          <isin value="US23243VAC46"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of Nova Scotia (The)</name>
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          <isin value="US064159KT26"/>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Panama</name>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd.</title>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <balance>123986.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125613.47000000</valUSD>
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        <name>United States Small Business Administration</name>
        <lei>N/A</lei>
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          <isin value="US83162CNM19"/>
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        <balance>17533.11350000</balance>
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        <curCd>USD</curCd>
        <valUSD>18155.78000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.93000000</annualizedRt>
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      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-15</maturityDt>
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      <invstOrSec>
        <name>Altice Financing SA</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49313636"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>NOMURA SECURITIES</name>
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          <other otherDesc="Custodian Internal ID" value="190930015"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912828SV33"/>
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        <balance>994000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>997941.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ONEOK, Inc.</name>
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        <title>ONEOK, Inc.</title>
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        <balance>208000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Loomis Sayles CLO II Ltd.</name>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>National Australia Bank Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31410F4V4</cusip>
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          <isin value="US31410F4V45"/>
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        <balance>28369.29380000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="138953"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Japan 10 Year Bond Mini</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="BJZ9COS"/>
          <other otherDesc="Future Ticker" value="BJZ9 Comdty"/>
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        <balance>-12.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.12500000"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Discover Bank</name>
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          <isin value="US25466AAN19"/>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group plc</name>
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        <title>Lloyds Banking Group plc</title>
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          <isin value="AU3CB0251239"/>
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        <balance>1300000.00000000</balance>
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        <invCountry>GB</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31416M2B9</cusip>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Japan</name>
        <lei>N/A</lei>
        <title>Japan Treasury Bill</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1748541K93"/>
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        <balance>476000000.00000000</balance>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-12-02</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>Arrow Electronics, Inc.</name>
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        <name>Oaktown Re III Ltd.</name>
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        <name>FNMA</name>
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        <name>Nationwide Building Society</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Broadcom Corp.</name>
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        <name>N/A</name>
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        <name>Cenovus Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LYB International Finance BV</name>
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        <name>JMP Credit Advisors CLO IIIR Ltd.</name>
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        <name>Odebrecht Oil &amp; Gas Finance Ltd.</name>
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        <name>LP Credit Card ABS Master Trust</name>
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        <name>KeyBank NA</name>
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      <invstOrSec>
        <name>Ashford Hospitality Trust</name>
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          <isin value="US04410RAA41"/>
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        <name>Deutsche Telekom International Finance BV</name>
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        <name>FNMA</name>
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        <name>Rio Oil Finance Trust</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>Octagon Investment Partners XIX Ltd.</name>
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        <name>Ukraine Government AID Bonds</name>
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        <issuerCat>NUSS</issuerCat>
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        <name>FNMA</name>
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        <title>UMBS</title>
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          <couponKind>Fixed</couponKind>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>Keurig Dr Pepper, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown Castle International Corp.</name>
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        <name>Cigna Corp.</name>
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        <title>Cigna Corp.</title>
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        <name>N/A</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Kingdom of Spain</name>
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        <name>United States of America</name>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>Charter Communications Operating LLC</name>
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      <invstOrSec>
        <name>Ludgate Funding plc</name>
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      <invstOrSec>
        <name>Bear Stearns Mortgage Funding Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns Mortgage Funding Trust, Series 2006-AR5, Class 1A1</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mountain Hawk III CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Odebrecht Offshore Drilling Finance Ltd.</name>
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        <title>Odebrecht Offshore Drilling Finance Ltd.</title>
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          <isin value="USG6711KAC92"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-12-01</maturityDt>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
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          <isin value="US81743VAB99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US Bank NA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FHLB</name>
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        <title>FHLB</title>
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        <balance>5410000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Impac CMB Trust</name>
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          <isin value="US45254NFG79"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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        <name>FHLB</name>
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        <name>United States of America</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bund</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BBVA USA</name>
        <lei>C90VT034M03BN29IRA40</lei>
        <title>BBVA USA</title>
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        <balance>543000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
        <lei>N/A</lei>
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          <isin value="US33844HAA14"/>
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        <balance>5657.60000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sprint Spectrum Co. LLC</name>
        <lei>N/A</lei>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-20</maturityDt>
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      <invstOrSec>
        <name>JPMorgan Prime Money Market Fund, IM Shares</name>
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          <other otherDesc="CINS" value="741994511"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
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          <isin value="US64952WCN11"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>923966.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Aircraft Certificate Owner Trust</name>
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          <isin value="US009325AE11"/>
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        <balance>49294.69000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51050.12000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00100000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Svenska Handelsbanken AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
        <title>Svenska Handelsbanken AB</title>
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          <isin value="US86960BAT98"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>815641.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-24</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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          <isin value="US3132Y06A33"/>
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        <balance>165536.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>172337.89000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GE Capital European Funding Unlimited Co.</name>
        <lei>YHZHHIVHTKEV7XROHS46</lei>
        <title>GE Capital European Funding Unlimited Co.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0954025267"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747329"/>
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        <pctVal>0.040667894245</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SBA Tower Trust</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAJ9</cusip>
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          <isin value="US78403DAJ90"/>
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        <balance>351000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352585.71000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31412N4Q6</cusip>
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          <isin value="US31412N4Q67"/>
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        <balance>119926.07530000</balance>
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        <curCd>USD</curCd>
        <valUSD>129910.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Synchrony Bank</name>
        <lei>549300UATVPGSLE43Z27</lei>
        <title>Synchrony Bank</title>
        <cusip>87166FAC7</cusip>
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          <isin value="US87166FAC77"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1019934.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Skandinaviska Enskilda Banken AB</name>
        <lei>F3JS33DEI6XQ4ZBPTN86</lei>
        <title>Skandinaviska Enskilda Banken AB</title>
        <cusip>83051GAJ7</cusip>
        <identifiers>
          <isin value="US83051GAJ76"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>814030.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Reynolds American, Inc.</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>Reynolds American, Inc.</title>
        <cusip>761713BT2</cusip>
        <identifiers>
          <isin value="US761713BT27"/>
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        <balance>160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164134.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</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>Enel Chile SA</name>
        <lei>549300YM5CWCAUVOPB53</lei>
        <title>Enel Chile SA</title>
        <cusip>29278DAA3</cusip>
        <identifiers>
          <isin value="US29278DAA37"/>
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        <balance>226000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252060.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <identifiers>
          <isin value="US65339KBF66"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>916436.16000000</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>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558BB8</cusip>
        <identifiers>
          <isin value="US375558BB81"/>
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        <balance>414000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>416152.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bund</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="RXX97150P"/>
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        <balance>-43.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747329"/>
        <valUSD>-5155.47000000</valUSD>
        <pctVal>-0.00031575280</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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              <otherRefInst>
                <issuerName>Federal Republic of Germany</issuerName>
                <issueTitle>Euro-Bund</issueTitle>
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                  <cusip value="N/A"/>
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            <shareNo>100000.00000000</shareNo>
            <exercisePrice>171.50000000</exercisePrice>
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            <delta>XXXX</delta>
            <unrealizedAppr>11325.93000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>ING Groep NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Small Business Administration</name>
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        <name>State of Qatar</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Commercial Mortgage Trust</name>
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          <isin value="US12625EAA73"/>
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        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CenterPoint Energy Resources Corp.</name>
        <lei>2JADVB0458J06WCD4N56</lei>
        <title>CenterPoint Energy Resources Corp.</title>
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          <maturityDt>2023-04-01</maturityDt>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
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        <name>Cabela's Credit Card Master Note Trust</name>
        <lei>549300XS4BMJOXLZFV07</lei>
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        <cusip>126802CL9</cusip>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417JHS2</cusip>
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      <invstOrSec>
        <name>Hess Corp.</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>Hess Corp.</title>
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        <balance>300000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
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        <balance>800000.00000000</balance>
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        <name>United States of America</name>
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        <name>FNMA</name>
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        <name>Boral Finance Pty. Ltd.</name>
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        <name>PNC Bank NA</name>
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        <name>United States of America</name>
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          <maturityDt>2021-11-15</maturityDt>
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        <name>Kingdom of Spain</name>
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        <name>Imperial Brands Finance plc</name>
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        <name>FFCB</name>
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        <name>FHLMC</name>
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        <name>United States of America</name>
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        <name>Bank of America Corp.</name>
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        <name>Celgene Corp.</name>
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        <name>Royal Bank of Scotland Group plc</name>
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        <name>Citibank NA</name>
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        <name>Antero Resources Corp.</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
        <title>Antero Resources Corp.</title>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2019-2A, Class A</title>
        <cusip>30167LAA7</cusip>
        <identifiers>
          <isin value="US30167LAA70"/>
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        <balance>272342.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>273397.02000000</valUSD>
        <pctVal>0.016744520896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.93000000</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>Diamond Sports Group LLC</name>
        <lei>N/A</lei>
        <title>Diamond Sports Group LLC</title>
        <cusip>25277LAA4</cusip>
        <identifiers>
          <isin value="US25277LAA44"/>
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        <balance>106000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109741.80000000</valUSD>
        <pctVal>0.006721265152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2005-IQ9, Class D</title>
        <cusip>61745M2L6</cusip>
        <identifiers>
          <isin value="US61745M2L62"/>
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        <balance>173000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163914.85000000</valUSD>
        <pctVal>0.010039157087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G0V34</cusip>
        <identifiers>
          <isin value="US3135G0V340"/>
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        <balance>3545000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3678317.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Great Wolf Trust</name>
        <lei>N/A</lei>
        <title>Great Wolf Trust, Series 2017-WOLF, Class A</title>
        <cusip>39153AAA8</cusip>
        <identifiers>
          <isin value="US39153AAA88"/>
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        <balance>289000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288910.90000000</valUSD>
        <pctVal>0.017694686658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.87750200</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140H9JH7</cusip>
        <identifiers>
          <isin value="US3140H9JH79"/>
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        <balance>410696.73000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>433134.57000000</valUSD>
        <pctVal>0.026527834350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>5493005ENKLDPQ5PJ790</lei>
        <title>Ford Credit Auto Owner Trust, Series 2014-2, Class A</title>
        <cusip>34530NAA5</cusip>
        <identifiers>
          <isin value="US34530NAA54"/>
        </identifiers>
        <balance>412000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>412015.57000000</valUSD>
        <pctVal>0.025234376444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.31000000</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>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
        <cusip>3133732Y7</cusip>
        <identifiers>
          <isin value="US3133732Y74"/>
        </identifiers>
        <balance>9050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9297259.58000000</valUSD>
        <pctVal>0.569421558868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Argentine Republic</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Argentina Treasury Bill</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ARARGE5207N9"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="ARS" exchangeRt="57.60100000"/>
        <valUSD>6617.07000000</valUSD>
        <pctVal>0.000405270207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-26</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Western Digital Corp.</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp.</title>
        <cusip>958102AM7</cusip>
        <identifiers>
          <isin value="US958102AM75"/>
        </identifiers>
        <balance>271000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278913.36000000</valUSD>
        <pctVal>0.017082375604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>Danske Bank A/S</title>
        <cusip>23636AAV3</cusip>
        <identifiers>
          <isin value="US23636AAV35"/>
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        <balance>335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>337345.47000000</valUSD>
        <pctVal>0.020661118661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.24400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eurosail UK plc</name>
        <lei>213800KHTEEB5PS3G589</lei>
        <title>Eurosail-UK plc, Series 2007-4X, Class A3</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1150797600"/>
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        <balance>859859.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330571"/>
        <valUSD>1042893.91000000</valUSD>
        <pctVal>0.063873259733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.72988100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810RF7</cusip>
        <identifiers>
          <isin value="US912810RF75"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>524853.13000000</valUSD>
        <pctVal>0.032145245046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>6174467Y9</cusip>
        <identifiers>
          <isin value="US6174467Y92"/>
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        <balance>891000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>967228.61000000</valUSD>
        <pctVal>0.059239049759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NBC GLOBAL FINANCE LIMITED</name>
        <lei>549300KWU8YQOYSK5Y64</lei>
        <title>Other Repurchase Agreement</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="190729240"/>
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        <balance>11780.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11780.00000000</valUSD>
        <pctVal>0.000721479905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300KWU8YQOYSK5Y64" name="NBC GLOBAL FINANCE LIMITED"/>
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          <isTriParty>Y</isTriParty>
          <repurchaseRt>1.99000000</repurchaseRt>
          <maturityDt>2019-10-01</maturityDt>
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            <repurchaseCollateral>
              <principalAmt>247.26927200</principalAmt>
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              <collateralVal>13111.09169800</collateralVal>
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              <invstCat>EQT</invstCat>
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            <repurchaseCollateral>
              <principalAmt>0.07068000</principalAmt>
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              <collateralVal>0.07152200</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boston Properties LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>Boston Properties LP</title>
        <cusip>10112RBB9</cusip>
        <identifiers>
          <isin value="US10112RBB96"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>836754.48000000</valUSD>
        <pctVal>0.051248008759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>Private Export Funding Corp.</name>
        <lei>CYQE6SAYPFKNQJ6FMH60</lei>
        <title>Private Export Funding Corp., Series II</title>
        <cusip>742651DR0</cusip>
        <identifiers>
          <isin value="US742651DR05"/>
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        <balance>79000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79721.64000000</valUSD>
        <pctVal>0.004882645271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>FHLMC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Marathon Petroleum Corp.</name>
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        <title>Marathon Petroleum Corp.</title>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Assurant, Inc.</name>
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        <title>Assurant, Inc.</title>
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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>2023-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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        <name>Biogen, Inc.</name>
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        <title>Biogen, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
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          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-07</maturityDt>
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        <name>BBVA USA</name>
        <lei>C90VT034M03BN29IRA40</lei>
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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>2022-06-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RX8</cusip>
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          <isin value="US912810RX81"/>
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        <balance>7588000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8990594.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>354140.57000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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        <name>World Financial Network Credit Card Master Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.81000000</annualizedRt>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-14</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417JM64</cusip>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Ludgate Funding plc</name>
        <lei>213800LADM2GPWI3P269</lei>
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        <cusip>N/A</cusip>
        <identifiers>
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        <invCountry>GB</invCountry>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>Bear Stearns ALT-A Trust</name>
        <lei>N/A</lei>
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        <cusip>073871AN5</cusip>
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          <isin value="US073871AN55"/>
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        <balance>60758.39000000</balance>
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        <valUSD>54034.59000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.01978900</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
        <lei>N/A</lei>
        <title>FHLMC Structured Agency Credit Risk Debt Notes, Series 2016-HQA1, Class M2</title>
        <cusip>3137G0JF7</cusip>
        <identifiers>
          <isin value="US3137G0JF78"/>
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        <balance>74008.46000000</balance>
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        <valUSD>74358.39000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.76838000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>362290AC2</cusip>
        <identifiers>
          <isin value="US362290AC25"/>
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        <balance>304032.16000000</balance>
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        <valUSD>269858.73000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12042000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282P4</cusip>
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        <name>World Omni Auto Receivables Trust</name>
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        <name>Transocean Poseidon Ltd.</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>Penske Truck Leasing Co. LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>GMF Floorplan Owner Revolving Trust</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>EMF-NL Prime BV</name>
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        <name>General Electric Co.</name>
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        <name>United States of America</name>
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        <name>Citibank NA</name>
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        <name>Citibank NA</name>
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        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="YMZ9COS"/>
          <other otherDesc="Future Ticker" value="YMZ9 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>eBay, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="FVZ9COM"/>
          <other otherDesc="Future Ticker" value="FVZ9 Comdty"/>
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                <issuerName>United States of America</issuerName>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
        <lei>N/A</lei>
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        <cusip>3137G0FF1</cusip>
        <identifiers>
          <isin value="US3137G0FF15"/>
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        <balance>152900.30000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>FNMA</title>
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          <isin value="US31409CCZ68"/>
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        <balance>197828.58590000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
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        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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          <isin value="US126307AF48"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-11-15</maturityDt>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master Owner Trust A</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A, Series 2015-2, Class A1</title>
        <cusip>34528QDW1</cusip>
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          <isin value="US34528QDW15"/>
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        <balance>447000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.98000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282A7</cusip>
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          <isin value="US9128282A70"/>
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        <balance>10635000.00000000</balance>
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        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
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        <balance>100000.00000000</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>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-04-15</maturityDt>
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          <annualizedRt>0.12500000</annualizedRt>
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        <name>Waha Aerospace BV</name>
        <lei>724500LWXEPYZZML5113</lei>
        <title>Waha Aerospace BV</title>
        <cusip>92928BAA9</cusip>
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        <balance>111500.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
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        <name>RALI Trust</name>
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        <name>Royal Bank of Scotland Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128286T2</cusip>
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      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust MLMI</name>
        <lei>N/A</lei>
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        <cusip>589929F37</cusip>
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        <name>United States of America</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <name>SLM Private Education Loan Trust</name>
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        <name>United Technologies Corp.</name>
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        <name>FNMA</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Regents of the University of California Medical Center Pooled Revenue</name>
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        <name>FNMA</name>
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        <name>Chugoku Electric Power Co., Inc. (The)</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Capital One Financial Corp.</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Provincia de Buenos Aires</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
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      <invstOrSec>
        <name>Dexia Credit Local SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLB</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-02-11</maturityDt>
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      <invstOrSec>
        <name>SoFi Consumer Loan Program LLC</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
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        <name>Zoetis, Inc.</name>
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        <name>United States Small Business Administration</name>
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        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <name>FNMA</name>
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        <name>Service Properties Trust</name>
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        <name>DuPont de Nemours, Inc.</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours, Inc.</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <name>DBWF Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <name>Radnor RE Ltd.</name>
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        <title>Radnor RE Ltd., Series 2019-1, Class M1B</title>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Mylan NV</name>
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        <name>Barclays plc</name>
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        <name>FNMA</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>FFCB</name>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Barclays Bank plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Suzano Austria GmbH</name>
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        <name>Argentine Republic</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>Ford Credit Floorplan Master Owner Trust A</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>International Lease Finance Corp.</name>
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      <invstOrSec>
        <name>Sudbury Mill CLO Ltd.</name>
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      <invstOrSec>
        <name>Plains All American Pipeline LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS Commercial Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Spirit Realty LP</name>
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        <name>Expedia Group, Inc.</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>N/A</name>
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        <curCd>N/A</curCd>
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        <name>Citigroup, Inc.</name>
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        <name>Becton Dickinson and Co.</name>
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        <name>Eastman Chemical Co.</name>
        <lei>FDPVHDGJ1IQZFK9KH630</lei>
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          <annualizedRt>3.80000000</annualizedRt>
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        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH Industrial Capital LLC</title>
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        <name>Hertz Vehicle Financing II LP</name>
        <lei>549300FPK70TCB78NG05</lei>
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        <name>Chase Issuance Trust</name>
        <lei>5493008SHVCX2Y068L12</lei>
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          <isin value="US161571HJ68"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
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        <balance>261.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SoFi Consumer Loan Program LLC</name>
        <lei>N/A</lei>
        <title>SoFi Consumer Loan Program LLC, Series 2017-6, Class A2</title>
        <cusip>83405QAB5</cusip>
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          <isin value="US83405QAB59"/>
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        <balance>147260.49000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147600.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.82000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526BP3</cusip>
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          <isin value="US251526BP38"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>798404.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TICP CLO III-2 Ltd.</name>
        <lei>N/A</lei>
        <title>TICP CLO III-2 Ltd., Series 2018-3R, Class A</title>
        <cusip>87249FAC8</cusip>
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          <isin value="US87249FAC86"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597173.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.11762900</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810QD37"/>
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        <curCd>USD</curCd>
        <valUSD>280507.82000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BAT International Finance plc</name>
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        <title>BAT International Finance plc</title>
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          <isin value="US05530QAF72"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612309.66000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-07</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
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        <curCd>USD</curCd>
        <valUSD>6895464.86000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBK0</cusip>
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          <isin value="US68389XBK00"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999962.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>GE Capital UK Funding Unlimited Co.</name>
        <lei>BR7Z6BPTFF652NNO9651</lei>
        <title>GE Capital UK Funding Unlimited Co.</title>
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          <isin value="XS0254673964"/>
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        <balance>600000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.81330571"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828QN35"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>DEUTSCHE BANK AG, LONDON BRANCH</name>
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        <valUSD>24127.00000000</valUSD>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>Jefferies Financial Group, Inc.</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group, Inc.</title>
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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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        <name>Flagship Credit Auto Trust</name>
        <lei>N/A</lei>
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        <name>Occidental Petroleum Corp.</name>
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        <title>Occidental Petroleum Corp.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Flagship VII Ltd.</name>
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          <isin value="US33842GAA58"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418CR89</cusip>
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        <curCd>USD</curCd>
        <valUSD>1169645.22000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2007-OH1, Class A1D</title>
        <cusip>02150KAZ2</cusip>
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          <isin value="US02150KAZ21"/>
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        <balance>94655.66690000</balance>
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        <curCd>USD</curCd>
        <valUSD>83422.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000C317NS1"/>
          <other otherDesc="Future Ticker" value="RXZ9 Comdty"/>
        </identifiers>
        <balance>-25.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747329"/>
        <valUSD>-1172.84000000</valUSD>
        <pctVal>-0.00007183196</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex Clearing</counterpartyName>
              <counterpartyLei>529900LN3S50JPU47S06</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Federal Republic of Germany</issuerName>
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                  <isin value="DE0001102440"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-06</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Healthcare Trust of America Holdings LP</name>
        <lei>549300IYGAS4GE6VDL07</lei>
        <title>Healthcare Trust of America Holdings LP</title>
        <cusip>42225UAD6</cusip>
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          <isin value="US42225UAD63"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>824688.00000000</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>2026-08-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300CFP9NBBMZH1008</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2016-NXS6, Class C</title>
        <cusip>95000KBH7</cusip>
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          <isin value="US95000KBH77"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291834.24000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lehman XS Trust</name>
        <lei>N/A</lei>
        <title>Lehman XS Trust, Series 2006-4N, Class A1C1</title>
        <cusip>525221KM8</cusip>
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          <isin value="US525221KM84"/>
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        <balance>135306.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>135010.07000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.24838000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
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          <isin value="US80281LAE56"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828R69</cusip>
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          <isin value="US912828R697"/>
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        <balance>13213000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13239065.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>HarborView Mortgage Loan Trust, Series 2006-13, Class A</title>
        <cusip>41162KAA1</cusip>
        <identifiers>
          <isin value="US41162KAA16"/>
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        <balance>87555.72000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74689.27000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.23700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eni SpA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>Eni SpA</title>
        <cusip>26874RAJ7</cusip>
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          <isin value="US26874RAJ77"/>
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        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356481.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
        <cusip>96950FAL8</cusip>
        <identifiers>
          <isin value="US96950FAL85"/>
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        <balance>675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>724777.20000000</valUSD>
        <pctVal>0.044389829014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F0326A7</cusip>
        <identifiers>
          <isin value="US01F0326A74"/>
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        <balance>3345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3431238.11000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MAD7</cusip>
        <identifiers>
          <isin value="US00774MAD74"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>815200.80000000</valUSD>
        <pctVal>0.049927928367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
        <cusip>22822VAC5</cusip>
        <identifiers>
          <isin value="US22822VAC54"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>852125.44000000</valUSD>
        <pctVal>0.052189421218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Harley-Davidson Financial Services, Inc.</name>
        <lei>RLUFFFFW4GRYU77BTS24</lei>
        <title>Harley-Davidson Financial Services, Inc.</title>
        <cusip>41283LAF2</cusip>
        <identifiers>
          <isin value="US41283LAF22"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>798520.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49313570"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>13712.53000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Barclays Bank</counterpartyName>
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            <curSold>JPY</curSold>
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        <securityLending>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738EBB0</cusip>
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          <isin value="US06738EBB02"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209025.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>4.33800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
        <cusip>3133XVRK9</cusip>
        <identifiers>
          <isin value="US3133XVRK96"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50218.37000000</valUSD>
        <pctVal>0.003075682923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-12-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bayer US Finance II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC</title>
        <cusip>07274NAE3</cusip>
        <identifiers>
          <isin value="US07274NAE31"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>416695.16000000</valUSD>
        <pctVal>0.025520983418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <name>N/A</name>
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        <name>Welltower, Inc.</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
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        <name>United States of America</name>
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        <name>BOC Aviation Ltd.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <name>FNMA</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>Midwest Connector Capital Co. LLC</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Ambac LSNI LLC</name>
        <lei>N/A</lei>
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        <name>Altice Finco SA</name>
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        <name>Dell International LLC</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>MetLife Capital Trust IV</name>
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        <name>National Australia Bank Ltd.</name>
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        <name>Sprint Communications, Inc.</name>
        <lei>549300JKU50UT08ZWD77</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Celgene Corp.</name>
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      <invstOrSec>
        <name>American Express Co.</name>
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      <invstOrSec>
        <name>Penske Truck Leasing Co. LP</name>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>Syngenta Finance NV</name>
        <lei>54930042S3BYCEGOCN86</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>RALI Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
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          <other otherDesc="Option Ticker" value="FVZ9P 111.00 Comdty"/>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc.</title>
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        <name>Emerald Bay SA</name>
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        <name>Alfa SAB de CV</name>
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        <title>Alfa SAB de CV</title>
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        <invCountry>MX</invCountry>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <debtSec>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31407LFM4</cusip>
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      <invstOrSec>
        <name>Pernod Ricard SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Plains All American Pipeline LP</name>
        <lei>N/A</lei>
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          <isin value="US72650RBB78"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Hawksmoor Mortgages</name>
        <lei>N/A</lei>
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          <isin value="XS2033256145"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BHMS Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>05549GAA9</cusip>
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          <isin value="US05549GAA94"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="136548"/>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Goldman Sachs Bank</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31402C4H2</cusip>
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          <isin value="US31402C4H21"/>
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        <balance>27816.31000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31026.69000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
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          <isin value="US63861VAA52"/>
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        <curCd>USD</curCd>
        <valUSD>1026505.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.76600000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>Oversea-Chinese Banking Corp. Ltd.</name>
        <lei>5493007O3QFXCPOGWK22</lei>
        <title>Oversea-Chinese Banking Corp. Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="XS1822309107"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800792.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-17</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>038461AK5</cusip>
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        <curCd>USD</curCd>
        <valUSD>216431.25000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>Harley-Davidson Financial Services, Inc.</name>
        <lei>RLUFFFFW4GRYU77BTS24</lei>
        <title>Harley-Davidson Financial Services, Inc.</title>
        <cusip>41283LAN5</cusip>
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          <isin value="US41283LAN55"/>
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        <curCd>USD</curCd>
        <valUSD>599086.02000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2020-06-15</maturityDt>
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          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>Hertz Vehicle Financing II LP</name>
        <lei>549300FPK70TCB78NG05</lei>
        <title>Hertz Vehicle Financing II LP, Series 2017-1A, Class A</title>
        <cusip>428040CU1</cusip>
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          <isin value="US428040CU15"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422654.19000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-10-25</maturityDt>
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        <name>UBS Group Funding Switzerland AG</name>
        <lei>506700Q800G1L95S7805</lei>
        <title>UBS Group Funding Switzerland AG</title>
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          <isin value="US90351DAD93"/>
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        <curCd>USD</curCd>
        <valUSD>1012346.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Japan 10 Year Bond</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="JBZ9COS"/>
          <other otherDesc="Future Ticker" value="JBZ9 Comdty"/>
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        <currencyConditional curCd="JPY" exchangeRt="108.12500000"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>Japan</issuerName>
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                  <isin value="JP1103421G35"/>
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        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp, Series J</title>
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          <isin value="US902973AZ90"/>
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        <balance>171000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182115.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.29999900</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RN0</cusip>
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          <isin value="US912810RN00"/>
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        <balance>1725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1987523.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Time Warner Cable LLC</name>
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        <name>Kraft Heinz Foods Co.</name>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <name>Noble Energy, Inc.</name>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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      <invstOrSec>
        <name>Barclays plc</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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        <name>United States of America</name>
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        <name>N/A</name>
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        <name>EPR Properties</name>
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        <name>Microchip Technology, Inc.</name>
        <lei>5493007PTFULNYZJ1R12</lei>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <name>LSTAR Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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      <invstOrSec>
        <name>SoFi Consumer Loan Program Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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          <isin value="US912828VB32"/>
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        <name>CGRBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <maturityDt>2035-03-13</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>World Financial Network Credit Card Master Trust</name>
        <lei>N/A</lei>
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          <isin value="US981464GL82"/>
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          <maturityDt>2024-12-16</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="UXYZ9CO"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49311759"/>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>Host Hotels &amp; Resorts LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Ally Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Ally Auto Receivables Trust, Series 2018-3, Class A2</title>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <name>Daimler Finance North America LLC</name>
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        <name>FHLB</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Noble Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Williams Cos., Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Emirate of Abu Dhabi United Arab Emirates</name>
        <lei>213800FER4348CINTA77</lei>
        <title>Abu Dhabi Government Bond</title>
        <cusip>29135LAD2</cusip>
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          <isin value="US29135LAD29"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>AE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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            <shareNo>100000.00000000</shareNo>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RC4</cusip>
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          <isin value="US912810RC45"/>
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        <balance>3827300.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="139862"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>9618.93000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Bank of America</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bund</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="RXX97400P"/>
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        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747329"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <putOrCall>Put</putOrCall>
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            <shareNo>100000.00000000</shareNo>
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      <invstOrSec>
        <name>International Flavors &amp; Fragrances, Inc.</name>
        <lei>BZLRL03D3GPGMOGFO832</lei>
        <title>International Flavors &amp; Fragrances, Inc.</title>
        <cusip>459506AJ0</cusip>
        <identifiers>
          <isin value="US459506AJ06"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>809128.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Iraq Government AID Bond</name>
        <lei>N/A</lei>
        <title>Iraq Government AID Bond</title>
        <cusip>462652AD0</cusip>
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          <isin value="US462652AD08"/>
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        <balance>7460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7520691.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IQ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.14900000</annualizedRt>
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      <invstOrSec>
        <name>Tyson Foods, Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>Tyson Foods, Inc.</title>
        <cusip>902494AX1</cusip>
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          <isin value="US902494AX19"/>
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        <balance>277000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132VLCK1</cusip>
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          <isin value="US3132VLCK15"/>
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        <balance>246985.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>260856.56000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Woolworths Group Ltd.</name>
        <lei>QNWEWQBS7HP85QHXQL92</lei>
        <title>Woolworths Group Ltd.</title>
        <cusip>980888AF8</cusip>
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          <isin value="US980888AF86"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>617596.74000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828G38</cusip>
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          <isin value="US912828G385"/>
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        <balance>19474000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20114511.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Imperial Brands Finance plc</name>
        <lei>2138008L3B3MCG1DFS50</lei>
        <title>Imperial Brands Finance plc</title>
        <cusip>453140AD7</cusip>
        <identifiers>
          <isin value="US453140AD72"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>702884.63000000</valUSD>
        <pctVal>0.043048992907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>World Financial Network Credit Card Master Trust</name>
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          <isin value="US981464HD57"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Delos Finance SARL</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Banc of America Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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      <invstOrSec>
        <name>Baker Hughes a GE Co. LLC</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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        <name>Daimler Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>Daimler Finance North America LLC</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>12668BGC1</cusip>
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          <isin value="US12668BGC19"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>Japan International Cooperation Agency</name>
        <lei>254900XEIG78M2AJB031</lei>
        <title>Japan International Cooperation Agency</title>
        <cusip>47109LAB0</cusip>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
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        <name>VEREIT Operating Partnership LP</name>
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        <title>VEREIT Operating Partnership LP</title>
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        <invCountry>US</invCountry>
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        <name>JPMorgan Chase Bank NA</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
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        <name>CITIGROUP GLOBAL MARKETS LTD</name>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <valUSD>3577406.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust, Series 2012-LC9, Class E</title>
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          <isin value="US46639EAP60"/>
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        <balance>455400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>451147.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-12-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
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          <isin value="US682680AS26"/>
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        <balance>21000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21946.77000000</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>2027-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GE Capital International Funding Co. Unlimited Co.</name>
        <lei>549300G6UZOB126GBY72</lei>
        <title>GE Capital International Funding Co. Unlimited Co.</title>
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          <isin value="US36164Q6M56"/>
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        <balance>365000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>371876.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31412PA50</cusip>
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          <isin value="US31412PA503"/>
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        <balance>124658.25880000</balance>
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        <curCd>USD</curCd>
        <valUSD>135037.01000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jamestown CLO IV Ltd.</name>
        <lei>2549008V3F2S2MZWTX88</lei>
        <title>Jamestown CLO IV Ltd., Series 2014-4A, Class A1CR</title>
        <cusip>470474AU1</cusip>
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          <isin value="US470474AU14"/>
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        <balance>291444.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291462.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.99337800</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Odebrecht Offshore Drilling Finance Ltd.</name>
        <lei>549300L7LF2PIRAWID66</lei>
        <title>Odebrecht Offshore Drilling Finance Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USG6711KAD75"/>
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        <balance>644450.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>165135.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.72000000</annualizedRt>
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          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>GSR Mortgage Loan Trust, Series 2006-2F, Class 2A13</title>
        <cusip>362334CZ5</cusip>
        <identifiers>
          <isin value="US362334CZ57"/>
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        <balance>1.77000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
        <cusip>3133EKFP6</cusip>
        <identifiers>
          <isin value="US3133EKFP67"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4034027.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.23000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3617A2FM9</cusip>
        <identifiers>
          <isin value="US3617A2FM91"/>
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        <balance>665986.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>686171.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49311951"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>2251.30000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="CE9C448"/>
          <other otherDesc="Option Ticker" value="FVZ9P 111.25 Comdty"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
        <cusip>3130A3GE8</cusip>
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          <isin value="US3130A3GE85"/>
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        <balance>17950000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
        <cusip>494550BJ4</cusip>
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          <isin value="US494550BJ49"/>
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        <balance>193000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>201199.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daimler Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>Daimler Finance North America LLC</title>
        <cusip>233851BR4</cusip>
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          <isin value="US233851BR47"/>
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        <balance>775000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>775368.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Minerva Luxembourg SA</name>
        <lei>222100NM3G3RCPGZ2Z17</lei>
        <title>Minerva Luxembourg SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USL6401PAH66"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201281.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Penske Truck Leasing Co. LP</name>
        <lei>N/A</lei>
        <title>Penske Truck Leasing Co. LP</title>
        <cusip>709599AH7</cusip>
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          <isin value="US709599AH79"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>798736.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments II Trust</name>
        <lei>N/A</lei>
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        <name>Dorchester Park CLO DAC</name>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282Y5</cusip>
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          <isin value="US9128282Y56"/>
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        <balance>4700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4823925.84000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Standard Chartered plc</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered plc</title>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>912810QH4</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH Industrial Capital LLC</title>
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        <balance>600000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
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        <balance>150000.00000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust, Series 2012-C6, Class E</title>
        <cusip>46634SAM7</cusip>
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        <balance>189221.00000000</balance>
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        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
        <cusip>785592AM8</cusip>
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        <balance>133000.00000000</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RCN0</cusip>
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        <balance>625000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rockwell Collins, Inc.</name>
        <lei>XO75O7GICH1NPWLBRL05</lei>
        <title>Rockwell Collins, Inc.</title>
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          <isin value="US774341AH41"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-15</maturityDt>
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          <annualizedRt>2.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3140H36P64"/>
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        <balance>1736709.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1808453.10000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
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          <isin value="US3130AFW943"/>
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        <balance>2365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2455131.57000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="XMZ9COS"/>
          <other otherDesc="Future Ticker" value="XMZ9 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441CBA2</cusip>
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          <isin value="US26441CBA27"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-05-14</maturityDt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp., Series L</title>
        <cusip>06051GFP9</cusip>
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          <isin value="US06051GFP90"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>Kraft Heinz Foods Co.</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>Kraft Heinz Foods Co.</title>
        <cusip>50077LAU0</cusip>
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          <isin value="US50077LAU08"/>
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        <balance>194000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>195768.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>State of Qatar</name>
        <lei>52990074F6OJOAXK4P65</lei>
        <title>State of Qatar</title>
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          <isin value="US74727PAX96"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024875.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>QA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Tennessee Valley Authority</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority</title>
        <cusip>880591EN8</cusip>
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          <isin value="US880591EN82"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>854138.91000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <maturityDt>2021-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Marlette Funding Trust</name>
        <lei>549300JRCMNFIBT50883</lei>
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          <maturityDt>2028-12-15</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RE0</cusip>
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          <isin value="US912810RE01"/>
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        <balance>1055000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>549300D5DIOOMKWXVZ20</lei>
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        <cusip>12634NAT5</cusip>
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        <balance>121432.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-BTP</title>
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        <isRestrictedSec>N</isRestrictedSec>

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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>CPI Property Group SA</name>
        <lei>222100CO2ZOTEPGJO223</lei>
        <title>CPI Property Group SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS1693959931"/>
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        <balance>700000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-04</maturityDt>
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          <annualizedRt>2.12500000</annualizedRt>
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      <invstOrSec>
        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
        <lei>549300PXR5FKNXF0OH19</lei>
        <title>Credit Suisse Group Funding Guernsey Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>5493004GWEVMOU8S3L34</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Radnor RE Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage Securities Corp. II</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harley-Davidson Financial Services, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Time Warner Cable LLC</name>
        <lei>549300U5NFR7S6E3GM41</lei>
        <title>Time Warner Cable LLC</title>
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        <balance>290000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>BOC Aviation Ltd.</name>
        <lei>254900H06V5RMEB3KE72</lei>
        <title>BOC Aviation Ltd.</title>
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        <invCountry>SG</invCountry>
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      <invstOrSec>
        <name>Venture XVII CLO Ltd.</name>
        <lei>549300SNYYGJ2M6QEK53</lei>
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        <cusip>92329YAL0</cusip>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
        <lei>N/A</lei>
        <title>Flagship Credit Auto Trust, Series 2016-4, Class D</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>PMT Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>PMT Credit Risk Transfer Trust, Series 2019-2R, Class A</title>
        <cusip>69345WAA6</cusip>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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      <invstOrSec>
        <name>CSMC Mortgage-Backed Trust</name>
        <lei>N/A</lei>
        <title>CSMC Mortgage-Backed Trust, Series 2006-6, Class 1A8</title>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Continental Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Continental Airlines Pass-Through Trust, Series 2010-1, Class A</title>
        <cusip>21079VAA1</cusip>
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        <balance>284318.52260000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bear Stearns ALT-A Trust</name>
        <lei>N/A</lei>
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        <cusip>07386HVS7</cusip>
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          <isin value="US07386HVS74"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.20072100</annualizedRt>
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      <invstOrSec>
        <name>Japan</name>
        <lei>N/A</lei>
        <title>Japan Treasury Bill</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>84000000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-11</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Barclays Bank plc</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>Barclays Bank plc</title>
        <cusip>06738CAG4</cusip>
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          <isin value="US06738CAG42"/>
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        <balance>51000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59042.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-15</maturityDt>
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          <annualizedRt>6.86000200</annualizedRt>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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          <isin value="US05964HAC97"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205283.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-04-11</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>National Rural Utilities Cooperative Finance Corp.</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp.</title>
        <cusip>63743HES7</cusip>
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          <isin value="US63743HES76"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.47938100</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31370Q6L8</cusip>
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          <isin value="US31370Q6L89"/>
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        <balance>19204.07490000</balance>
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        <curCd>USD</curCd>
        <valUSD>19192.61000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.39400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
        <lei>N/A</lei>
        <title>FHLMC Structured Agency Credit Risk Debt Notes, Series 2015-DNA1, Class M2</title>
        <cusip>3137G0ET2</cusip>
        <identifiers>
          <isin value="US3137G0ET28"/>
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        <balance>61445.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61845.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.86838000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago Taxable General Obligation Bonds, Series 2015B</title>
        <cusip>167486D22</cusip>
        <identifiers>
          <isin value="US167486D225"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115164.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828W71</cusip>
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          <isin value="US912828W713"/>
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        <balance>12217000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US9128285W63"/>
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        <balance>5300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5713554.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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      <invstOrSec>
        <name>PMT Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>PMT Credit Risk Transfer Trust, Series 2019-1R, Class A</title>
        <cusip>73021CAA3</cusip>
        <identifiers>
          <isin value="US73021CAA36"/>
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        <balance>116699.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116655.93000000</valUSD>
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        <debtSec>
          <maturityDt>2024-03-27</maturityDt>
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          <annualizedRt>4.13950000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US912828XL95"/>
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        <balance>1977800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2167321.50000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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        <name>JPMCC Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <cusip>465968AG0</cusip>
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        <balance>2303580.85670000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>1.22368300</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
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        <balance>800000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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        <name>United States Small Business Administration</name>
        <lei>N/A</lei>
        <title>United States Small Business Administration, Series 2004-20C, Class 1</title>
        <cusip>83162CNQ2</cusip>
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          <isin value="US83162CNQ23"/>
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          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.34000000</annualizedRt>
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        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>UBS AG</title>
        <cusip>90261AAB8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Venture XII CLO Ltd.</name>
        <lei>549300C7PSULF5Z6ZE61</lei>
        <title>Venture XII CLO Ltd., Series 2012-12A, Class ARR</title>
        <cusip>92329JAY5</cusip>
        <identifiers>
          <isin value="US92329JAY55"/>
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        <balance>864271.54000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>861591.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.94437900</annualizedRt>
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      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Bear Stearns Structured Products, Inc. Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alpek SAB de CV</name>
        <lei>549300PWKJTP62D4IQ66</lei>
        <title>Alpek SAB de CV</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>201700.00000000</valUSD>
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        <invCountry>MX</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="137991"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-8063.25000000</valUSD>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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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>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>BCAP LLC Trust</name>
        <lei>N/A</lei>
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        <name>SoFi Consumer Loan Program LLC</name>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <balance>510000.00000000</balance>
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        <name>FNMA</name>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2014-GC18, Class C</title>
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        <balance>350000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.15658600</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2014-C04, Class 1M2</title>
        <cusip>30711XAP9</cusip>
        <identifiers>
          <isin value="US30711XAP96"/>
        </identifiers>
        <balance>243266.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265520.34000000</valUSD>
        <pctVal>0.016262104398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.91837900</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>Navient Corp.</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>Navient Corp.</title>
        <cusip>63938CAD0</cusip>
        <identifiers>
          <isin value="US63938CAD02"/>
        </identifiers>
        <balance>260000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274787.50000000</valUSD>
        <pctVal>0.016829682473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>SoFi Professional Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Professional Loan Program Trust, Series 2018-B, Class A1FX</title>
        <cusip>83404RAA6</cusip>
        <identifiers>
          <isin value="US83404RAA68"/>
        </identifiers>
        <balance>402644.53000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>403556.16000000</valUSD>
        <pctVal>0.024716269965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.64000000</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>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>New York Life Global Funding</title>
        <cusip>64952WBY8</cusip>
        <identifiers>
          <isin value="US64952WBY84"/>
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        <balance>433000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>432876.25000000</valUSD>
        <pctVal>0.026512013239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95000000</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>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
        <cusip>539439AM1</cusip>
        <identifiers>
          <isin value="US539439AM10"/>
        </identifiers>
        <balance>332000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>347790.88000000</valUSD>
        <pctVal>0.021300860037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.58200000</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>Commonwealth Bank of Australia</name>
        <lei>MSFSBD3QN1GSN7Q6C537</lei>
        <title>Commonwealth Bank of Australia</title>
        <cusip>2027A0JH3</cusip>
        <identifiers>
          <isin value="US2027A0JH32"/>
        </identifiers>
        <balance>346000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>346311.40000000</valUSD>
        <pctVal>0.021210247551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>Japan</name>
        <lei>N/A</lei>
        <title>Japanese Government CPI Linked Bonds</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1120221H48"/>
        </identifiers>
        <balance>170804670.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="108.12500000"/>
        <valUSD>1641107.07000000</valUSD>
        <pctVal>0.100511525792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31416CCH7</cusip>
        <identifiers>
          <isin value="US31416CCH79"/>
        </identifiers>
        <balance>8682.65600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9405.55000000</valUSD>
        <pctVal>0.000576053932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F0326B5</cusip>
        <identifiers>
          <isin value="US01F0326B57"/>
        </identifiers>
        <balance>49450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50728747.33000000</valUSD>
        <pctVal>3.106941581608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175BB9</cusip>
        <identifiers>
          <isin value="US161175BB96"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>841520.00000000</valUSD>
        <pctVal>0.051539878616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.46400000</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>Tyson Foods, Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>Tyson Foods, Inc.</title>
        <cusip>902494BJ1</cusip>
        <identifiers>
          <isin value="US902494BJ16"/>
        </identifiers>
        <balance>38000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41070.18000000</valUSD>
        <pctVal>0.002515391306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Long Gilt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H37G6G35"/>
          <other otherDesc="Future Ticker" value="G Z9 Comdty"/>
        </identifiers>
        <balance>-136.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81330571"/>
        <valUSD>-126321.80000000</valUSD>
        <pctVal>-0.00773672668</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Clear Europe</counterpartyName>
              <counterpartyLei>5R6J7JCQRIPQR1EEP713</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United Kingdom of Great Britain and Northern Ireland</issuerName>
                <issueTitle>Long Gilt</issueTitle>
                <identifiers>
                  <isin value="GB00B16NNR78"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-27</expDate>
            <notionalAmt>-18256640.00000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>-126321.80000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class ASB</title>
        <cusip>61690AAB0</cusip>
        <identifiers>
          <isin value="US61690AAB08"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>834222.96000000</valUSD>
        <pctVal>0.051092962849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55700000</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>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397YM9</cusip>
        <identifiers>
          <isin value="US345397YM97"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>797200.00000000</valUSD>
        <pctVal>0.048825448275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.42500000</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>Teva Pharmaceutical Finance Netherlands II BV</name>
        <lei>549300HSQCIKJAOYIT23</lei>
        <title>Teva Pharmaceutical Finance Netherlands II BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1211040917"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91747329"/>
        <valUSD>547291.14000000</valUSD>
        <pctVal>0.033519487265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</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>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
        <cusip>228227BE3</cusip>
        <identifiers>
          <isin value="US228227BE31"/>
        </identifiers>
        <balance>656000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>696178.75000000</valUSD>
        <pctVal>0.042638283428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526BL2</cusip>
        <identifiers>
          <isin value="US251526BL24"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1089505.23000000</valUSD>
        <pctVal>0.066728024653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Espirito Santo SA</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>OneMain Direct Auto Receivables Trust</name>
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      <invstOrSec>
        <name>FHLMC</name>
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        <balance>1430000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-02</maturityDt>
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      <invstOrSec>
        <name>Embraer Netherlands Finance BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Israel Electric Corp. Ltd.</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
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        <name>Ford Motor Credit Co. LLC</name>
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        <title>Ford Motor Credit Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31416PM61</cusip>
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        <balance>77116.42920000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-04-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-05-21</maturityDt>
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      <invstOrSec>
        <name>Marlette Funding Trust</name>
        <lei>549300KBRIH5UIIBZH88</lei>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Petrobras Global Finance BV</name>
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        <invCountry>NL</invCountry>

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        <name>BAT International Finance plc</name>
        <lei>21380041YBGOQDFAC823</lei>
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        <name>ING Bank NV</name>
        <lei>3TK20IVIUJ8J3ZU0QE75</lei>
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        <name>IndyMac INDX Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>American Home Mortgage Investment Trust</name>
        <lei>N/A</lei>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
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        <name>Petroleos Mexicanos</name>
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        <name>United States of America</name>
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        <name>Standard Chartered plc</name>
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        <name>Figueroa CLO Ltd.</name>
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        <name>UBS Commercial Mortgage Trust</name>
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          <maturityDt>2041-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US81743PBW59"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-20</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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          <isin value="US251526BR93"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="138360"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Barclays Bank</counterpartyName>
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            <amtCurSold>91000.00000000</amtCurSold>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XBU9</cusip>
        <identifiers>
          <isin value="US37045XBU90"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901338.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.23338000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CCUBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CCUBS Commercial Mortgage Trust, Series 2017-C1, Class A4</title>
        <cusip>12508GAU0</cusip>
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          <isin value="US12508GAU04"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2018-EXCL, Class A</title>
        <cusip>12433WAA9</cusip>
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          <isin value="US12433WAA99"/>
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        <balance>290363.92000000</balance>
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        <curCd>USD</curCd>
        <valUSD>289832.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.11512700</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc., Series H</title>
        <cusip>65339KAQ3</cusip>
        <identifiers>
          <isin value="US65339KAQ31"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1010649.20000000</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>2020-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.34200000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828M56</cusip>
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          <isin value="US912828M565"/>
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        <balance>23230500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24093931.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>WhiteHorse X Ltd.</name>
        <lei>549300UT33WDDDZEYN84</lei>
        <title>WhiteHorse X Ltd., Series 2015-10A, Class A1R</title>
        <cusip>96525WAN3</cusip>
        <identifiers>
          <isin value="US96525WAN39"/>
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        <balance>689969.65000000</balance>
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        <curCd>USD</curCd>
        <valUSD>689087.18000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.23325000</annualizedRt>
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      <invstOrSec>
        <name>Mitsubishi Corp.</name>
        <lei>KVIPTY4PULAPGC1VVD26</lei>
        <title>Mitsubishi Corp.</title>
        <cusip>N/A</cusip>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>805986.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="135533"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-29367.57000000</valUSD>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
        <cusip>49456BAM3</cusip>
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        <balance>375000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
        <cusip>59562VAM9</cusip>
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          <isin value="US59562VAM90"/>
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        <balance>229000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31416BS58</cusip>
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        <balance>10258.40170000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>WEA Finance LLC</name>
        <lei>N/A</lei>
        <title>WEA Finance LLC</title>
        <cusip>92890HAE2</cusip>
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        <balance>800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-05</maturityDt>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments II Trust</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust, Series 2005-AR5, Class A1</title>
        <cusip>86359LPD5</cusip>
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          <isin value="US86359LPD54"/>
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        <balance>92898.32700000</balance>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-19</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828J27</cusip>
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          <isin value="US912828J272"/>
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        <balance>23552800.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>Discover Bank</name>
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        <name>FNMA</name>
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        <name>Total System Services, Inc.</name>
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      <invstOrSec>
        <name>MortgageIT Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>United States of America</name>
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        <name>Tennessee Valley Authority</name>
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        <name>SoFi Consumer Loan Program Trust</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>21H0506A5</cusip>
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          <isin value="US21H0506A54"/>
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        <balance>9500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10014335.70000000</valUSD>
        <pctVal>0.613339726213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="138780"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>71573.18000000</valUSD>
        <pctVal>0.004383583289</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Barclays Bank</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <amtCurSold>3284000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>3650968.94000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>71573.18000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>Residential Asset Securitization Trust, Series 2005-A15, Class 5A1</title>
        <cusip>45660L4G1</cusip>
        <identifiers>
          <isin value="US45660L4G12"/>
        </identifiers>
        <balance>17751.01000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12146.64000000</valUSD>
        <pctVal>0.000743935202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280BX6</cusip>
        <identifiers>
          <isin value="US404280BX62"/>
        </identifiers>
        <balance>201000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>215287.64000000</valUSD>
        <pctVal>0.013185543817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.29199900</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>Adani Ports &amp; Special Economic Zone Ltd.</name>
        <lei>335800QOAXP5TM7OYP69</lei>
        <title>Adani Ports &amp; Special Economic Zone Ltd.</title>
        <cusip>00652MAC6</cusip>
        <identifiers>
          <isin value="US00652MAC64"/>
        </identifiers>
        <balance>245000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250512.50000000</valUSD>
        <pctVal>0.015342931649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GGS7</cusip>
        <identifiers>
          <isin value="US38141GGS75"/>
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        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334033.96000000</valUSD>
        <pctVal>0.020458301350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2012-GC6, Class B</title>
        <cusip>36192BAG2</cusip>
        <identifiers>
          <isin value="US36192BAG23"/>
        </identifiers>
        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244867.55000000</valUSD>
        <pctVal>0.014997200071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.83970400</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>Manufacturers &amp; Traders Trust Co.</name>
        <lei>WWB2V0FCW3A0EE3ZJN75</lei>
        <title>Manufacturers &amp; Traders Trust Co.</title>
        <cusip>55279HAR1</cusip>
        <identifiers>
          <isin value="US55279HAR12"/>
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        <balance>286000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288343.66000000</valUSD>
        <pctVal>0.017659945380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Corp.</name>
        <lei>N/A</lei>
        <title>Broadcom Corp.</title>
        <cusip>11134LAH2</cusip>
        <identifiers>
          <isin value="US11134LAH24"/>
        </identifiers>
        <balance>877000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>877335.72000000</valUSD>
        <pctVal>0.053733454362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SF6</cusip>
        <identifiers>
          <isin value="US912810SF66"/>
        </identifiers>
        <balance>656500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>782696.76000000</valUSD>
        <pctVal>0.047937180345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418CPE8</cusip>
        <identifiers>
          <isin value="US31418CPE83"/>
        </identifiers>
        <balance>864110.54000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>893325.94000000</valUSD>
        <pctVal>0.054712794125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
        <cusip>81180WAL5</cusip>
        <identifiers>
          <isin value="US81180WAL54"/>
        </identifiers>
        <balance>84000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86648.02000000</valUSD>
        <pctVal>0.005306859531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810SB5</cusip>
        <identifiers>
          <isin value="US912810SB52"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1624426.93000000</valUSD>
        <pctVal>0.099489931069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>Plains All American Pipeline LP</name>
        <lei>N/A</lei>
        <title>Plains All American Pipeline LP</title>
        <cusip>72650RBF8</cusip>
        <identifiers>
          <isin value="US72650RBF82"/>
        </identifiers>
        <balance>314000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>320672.50000000</valUSD>
        <pctVal>0.019639963073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</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>IndyMac INDX Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>IndyMac INDX Mortgage Loan Trust, Series 2005-AR11, Class A3</title>
        <cusip>45660LQH5</cusip>
        <identifiers>
          <isin value="US45660LQH59"/>
        </identifiers>
        <balance>503910.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>456248.44000000</valUSD>
        <pctVal>0.027943470406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.88856500</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>Aircastle Ltd.</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd.</title>
        <cusip>00928QAM3</cusip>
        <identifiers>
          <isin value="US00928QAM33"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>931854.51000000</valUSD>
        <pctVal>0.057072521548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F0306B9</cusip>
        <identifiers>
          <isin value="US01F0306B93"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20287500.00000000</valUSD>
        <pctVal>1.242531713366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912828N712"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2766698.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
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          <isin value="US87165BAG86"/>
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        <balance>326000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348466.29000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="CE9112E"/>
          <other otherDesc="Option Ticker" value="FVZ9P 109.50 Comdty"/>
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        <balance>36.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
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                  <ticker value="FVZ9 Comdty"/>
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            <shareNo>100000.00000000</shareNo>
            <exercisePrice>109.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-309.60000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Odebrecht Drilling Norbe VIII/IX Ltd.</name>
        <lei>549300YNW6BY570L6488</lei>
        <title>Odebrecht Drilling Norbe VIII/IX Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USG67106AC18"/>
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        <balance>222521.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130766.00000000</valUSD>
        <pctVal>0.008008916920</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.35000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hertz Vehicle Financing II LP</name>
        <lei>549300FPK70TCB78NG05</lei>
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          <isin value="US42806DCD93"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>319409.49000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tokyo Metropolitan Government</name>
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        <title>Tokyo Metropolitan Government Bond</title>
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          <isin value="US889124AK94"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1419097.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <identifiers>
          <isin value="US37045XAZ96"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72242.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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>Crimson Wine Group Ltd.</name>
        <lei>N/A</lei>
        <title>Crimson Wine Group Ltd.</title>
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          <isin value="US22662X1000"/>
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        <balance>2.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15.10000000</valUSD>
        <pctVal>0.000000924817</pctVal>
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        <assetCat>EC</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>
      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>549300L45M7638EL0H21</lei>
        <title>GS Mortgage Securities Trust, Series 2015-GC30, Class AAB</title>
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        <identifiers>
          <isin value="US36250GAQ82"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1027656.20000000</valUSD>
        <pctVal>0.062940008327</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC</name>
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          <isin value="US3132Y3ZL14"/>
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        <balance>1273355.33000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1366668.08000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
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          <isin value="US902674XK19"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>903721.77000000</valUSD>
        <pctVal>0.055349498917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="140165"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-15480.91000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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            <amtCurSold>9136182.40000000</amtCurSold>
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            <amtCurPur>8368000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-10-02</settlementDt>
            <unrealizedAppr>-15480.91000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>EQ Advisors Trust</ncom:nameOfApplicant>
      <ncom:signature>Brian Walsh</ncom:signature>
      <ncom:signerName>Brian Walsh</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
