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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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          <maturityDt>2028-07-15</maturityDt>
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        <name>French Republic</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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        <cusip>N/A</cusip>
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          <isin value="FR0013327491"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.10000000</annualizedRt>
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        <name>RALI Trust</name>
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          <isin value="US74924EAA55"/>
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        <name>United States of America</name>
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          <maturityDt>2024-10-15</maturityDt>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <name>N/A</name>
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        <name>Realkredit Danmark A/S</name>
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          <isin value="DK0004612454"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DSLA Mortgage Loan Trust</name>
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        <name>Realkredit Danmark A/S</name>
        <lei>549300NLOMBOWE943Y30</lei>
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          <isin value="DK0004619467"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
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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="US9128286N55"/>
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        <balance>880000.00000000</balance>
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        <valUSD>1023519.53000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <name>Mountain View CLO X Ltd.</name>
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          <isin value="US62432CAQ42"/>
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        <curCd>USD</curCd>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <units>NC</units>
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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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        <name>N/A</name>
        <lei>N/A</lei>
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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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      <invstOrSec>
        <name>CIT Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>12559QAF9</cusip>
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          <isin value="US12559QAF90"/>
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        <balance>200000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-25</maturityDt>
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        <name>French Republic</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>525228.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.95424400"/>
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        <pctVal>0.580941011625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.80000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Soundview Home Loan Trust</name>
        <lei>N/A</lei>
        <title>Soundview Home Loan Trust, Series 2007-OPT1, Class 1A1</title>
        <cusip>83612TAA0</cusip>
        <identifiers>
          <isin value="US83612TAA07"/>
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        <balance>110335.27000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83595.50000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.82356920</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Realkredit Danmark A/S</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark A/S</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0004616281"/>
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        <balance>590720.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="7.09755000"/>
        <valUSD>64414.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>91282CEJ6</cusip>
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          <isin value="US91282CEJ62"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>605532.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CSMC Trust</name>
        <lei>N/A</lei>
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        <cusip>12639QAA4</cusip>
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          <isin value="US12639QAA40"/>
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        <balance>3574.49930000</balance>
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        <curCd>USD</curCd>
        <valUSD>3133.84000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-26</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Republic of Italy</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Buoni Poliennali del Tesoro</title>
        <cusip>N/A</cusip>
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          <isin value="IT0005482994"/>
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        <balance>2238138.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.95424400"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
        <lei>N/A</lei>
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        <cusip>23245CAA8</cusip>
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          <isin value="US23245CAA80"/>
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        <balance>76127.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70719.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.76357160</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>CSMC Trust</name>
        <lei>N/A</lei>
        <title>CSMC Trust, Series 2015-3R, Class 5A2</title>
        <cusip>12649WAW1</cusip>
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          <isin value="US12649WAW10"/>
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        <balance>121419.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117327.18000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.77356880</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810QP6</cusip>
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          <isin value="US912810QP66"/>
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        <balance>910000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1410660.11000000</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>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</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>JP Morgan Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Alternative Loan Trust, Series 2006-A1, Class 1A1</title>
        <cusip>46627MCS4</cusip>
        <identifiers>
          <isin value="US46627MCS44"/>
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        <balance>63478.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60031.78000000</valUSD>
        <pctVal>0.049093897798</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.08356840</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>3 Month SOFR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="SFRH3CM"/>
          <other otherDesc="Future Ticker" value="SFRH3 Comdty"/>
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        <balance>-64.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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        <cusip>01F030678</cusip>
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          <isin value="US01F0306781"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>652968.75000000</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>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 2 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="TUU2COM"/>
          <other otherDesc="Future Ticker" value="TUU2 Comdty"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1315.04000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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        <name>Republic of Italy</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Buoni Poliennali del Tesoro</title>
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          <isin value="IT0004545890"/>
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        <balance>504500.40000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.95424400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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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="570288"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-4615.89000000</valUSD>
        <pctVal>-0.00377486777</pctVal>
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              <counterpartyName>Bank of America</counterpartyName>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>9128284H0</cusip>
        <identifiers>
          <isin value="US9128284H06"/>
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        <balance>3700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4382338.52000000</valUSD>
        <pctVal>3.583869733994</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.62500000</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="555885"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>836.20000000</valUSD>
        <pctVal>0.000683843080</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Nykredit Realkredit A/S</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <name>Republic of Peru</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>United States of America</name>
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        <name>Residential Mortgage Securities 32 plc</name>
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        <name>Japan</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lehman Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Lehman Mortgage Trust, Series 2005-3, Class 4A1</title>
        <cusip>52520MEK5</cusip>
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          <isin value="US52520MEK53"/>
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        <balance>7586.43000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7534.27000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.10156360</annualizedRt>
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          <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>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="FVU2COS"/>
          <other otherDesc="Future Ticker" value="FVU2 Comdty"/>
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        <balance>-8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4467.02000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>United States of America</issuerName>
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                  <ticker value="FVU2 Comdty"/>
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            <expDate>2022-09-30</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <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>912810SB5</cusip>
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          <isin value="US912810SB52"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>574623.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>23246KAA9</cusip>
        <identifiers>
          <isin value="US23246KAA97"/>
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        <balance>144874.59660000</balance>
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        <curCd>USD</curCd>
        <valUSD>66055.98000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Inflation Linked Bonds</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B4PTCY75"/>
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        <balance>480979.98000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82149018"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</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>Credit-Based Asset Servicing and Securitization LLC</name>
        <lei>N/A</lei>
        <title>Credit-Based Asset Servicing and Securitization LLC, Series 2007-CB6, Class A3</title>
        <cusip>1248RHAC1</cusip>
        <identifiers>
          <isin value="US1248RHAC14"/>
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        <balance>305618.34000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226592.31000000</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>2037-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.22571000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2005-A2, Class 5A2</title>
        <cusip>466247NV1</cusip>
        <identifiers>
          <isin value="US466247NV12"/>
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        <balance>5649.47000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5735.84000000</valUSD>
        <pctVal>0.004690761172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.35772640</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>3 Month Euro EURIBOR</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H1QMMS28"/>
          <other otherDesc="Future Ticker" value="ERH3 Comdty"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>ICE Clear Europe</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2023-03-13</expDate>
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            <curCd>EUR</curCd>
            <unrealizedAppr>-3399.10000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Option One Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Option One Mortgage Loan Trust, Series 2004-3, Class M2</title>
        <cusip>68389FFU3</cusip>
        <identifiers>
          <isin value="US68389FFU30"/>
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        <balance>13906.52000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Kingdom of Spain</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Kingdom of Spain</title>
        <cusip>N/A</cusip>
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          <isin value="ES00000128S2"/>
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        <balance>1028439.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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          <isin value="US46651QAA58"/>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810RW0</cusip>
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          <isin value="US912810RW09"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Udibonos</title>
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          <isin value="MX0SGO000023"/>
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        <balance>2211355.80000000</balance>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Atlas Senior Loan Fund Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US04943AAC36"/>
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        <balance>299366.07000000</balance>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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          <isin value="GB00BP9DLZ64"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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="561189"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>236096.21000000</valUSD>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Bank of America</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
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          <isin value="JP1120231J51"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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          <isin value="GB00B7RN0G65"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="562275"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Barclays Bank</counterpartyName>
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      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
        <lei>N/A</lei>
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        <cusip>76113LAE7</cusip>
        <identifiers>
          <isin value="US76113LAE74"/>
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        <balance>117496.00210000</balance>
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        <curCd>USD</curCd>
        <valUSD>50778.96000000</valUSD>
        <pctVal>0.041526955765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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="JBU2COS"/>
          <other otherDesc="Future Ticker" value="JBU2 Comdty"/>
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        <balance>-13.00000000</balance>
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        <pctVal>0.004831684204</pctVal>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>Japan</issuerName>
                <issueTitle>Japan 10 Year Bond</issueTitle>
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                  <ticker value="JBU2 Comdty"/>
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            <expDate>2022-09-12</expDate>
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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="541244"/>
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        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <amtCurSold>133572.48000000</amtCurSold>
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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="567975"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-876.86000000</valUSD>
        <pctVal>-0.00071709476</pctVal>
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        <assetCat>DFE</assetCat>
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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>Bank of America</counterpartyName>
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        <name>Long Beach Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>54251TAC3</cusip>
        <identifiers>
          <isin value="US54251TAC36"/>
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        <balance>69188.67000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31977.34000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.86356880</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>Alternative Loan Trust</name>
        <lei>549300CA9X1CRUCWUL74</lei>
        <title>Alternative Loan Trust, Series 2006-HY11, Class A1</title>
        <cusip>021466AA5</cusip>
        <identifiers>
          <isin value="US021466AA50"/>
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        <balance>81514.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-25</maturityDt>
          <couponKind>Floating</couponKind>
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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="569058"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Bonds</title>
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        <identifiers>
          <isin value="GB00BMBL1D50"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US912828B253"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Inflation Linked Bonds</title>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.25000000</annualizedRt>
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        <name>AREIT Trust</name>
        <lei>N/A</lei>
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          <isin value="US04002RAA86"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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          <other otherDesc="Inhouse Asset ID" value="539888"/>
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        <curCd>N/A</curCd>
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        <name>Nykredit Realkredit A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
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          <isin value="DK0009527293"/>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isin value="CA135087ZH04"/>
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        <name>United States of America</name>
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        <cusip>912810SV1</cusip>
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          <isin value="US912810SV17"/>
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          <isin value="US12667GUG62"/>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>Jyske Realkredit A/S</name>
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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>N/A</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <name>Republic of Italy</name>
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        <name>Soundview Home Loan Trust</name>
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        <name>Republic of Italy</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>Washington Mutual Mortgage Pass-Through Certificates WMALT Trust</name>
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        <name>Republic of Italy</name>
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        <name>New Zealand Government Inflation Linked Bond</name>
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        <name>Commonwealth of Australia</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Alternative Loan Trust Resecuritization</name>
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        <name>Stratton Mortgage Funding plc</name>
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        <name>United States of America</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>Republic of Italy</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <name>N/A</name>
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        <name>Lehman XS Trust</name>
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        <name>N/A</name>
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        <name>CWABS Asset-Backed Certificates Trust</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <name>N/A</name>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <name>N/A</name>
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        <name>Nordea Kredit Realkreditaktieselskab</name>
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        <name>Nordea Kredit Realkreditaktieselskab</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>United States of America</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Homeward Opportunities Fund I Trust</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>N/A</name>
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        <name>Realkredit Danmark A/S</name>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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      <invstOrSec>
        <name>Japan</name>
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          <isin value="JP1120211G41"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <isin value="DE000C6J0K45"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>Federal Republic of Germany</issuerName>
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            <expDate>2022-09-08</expDate>
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      <invstOrSec>
        <name>Nykredit Realkredit A/S</name>
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          <isin value="DK0009530248"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="TYU2COM"/>
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                <issuerName>United States of America</issuerName>
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        <name>Kingdom of Spain</name>
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        <name>Canada Government Bond</name>
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        <name>N/A</name>
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        <name>Jyske Realkredit A/S</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Century Home Equity Loan Trust</name>
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          <isin value="US64352VJJ17"/>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Canada Government Bond</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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          <isin value="CA135087XQ21"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Realkredit Danmark A/S</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark A/S</title>
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        <identifiers>
          <isin value="DK0004616018"/>
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        <balance>3961400.32000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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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="570182"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>HSI Asset Securitization Corp. Trust</name>
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        <cusip>40431RAA3</cusip>
        <identifiers>
          <isin value="US40431RAA32"/>
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        <balance>7096.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7055.58000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.78356960</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 Inflation Linked Bonds</title>
        <cusip>912810TE8</cusip>
        <identifiers>
          <isin value="US912810TE82"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>412137.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Bonds</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B6RNH572"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82149018"/>
        <valUSD>604915.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="569836"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>165.68000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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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="570181"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Bank of America</counterpartyName>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>9128285W6</cusip>
        <identifiers>
          <isin value="US9128285W63"/>
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        <balance>270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312722.54000000</valUSD>
        <pctVal>0.255744014554</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>New Zealand Government Inflation Linked Bond</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NZIIBDT004C8"/>
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        <balance>116690.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NZD" exchangeRt="1.60115283"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nordea Kredit Realkreditaktieselskab</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0002047141"/>
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        <balance>281652.45000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="7.09755000"/>
        <valUSD>31964.00000000</valUSD>
        <pctVal>0.026140110275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
        <lei>N/A</lei>
        <title>Countrywide Asset-Backed Certificates, Series 2007-8, Class 1A1</title>
        <cusip>12669WAA4</cusip>
        <identifiers>
          <isin value="US12669WAA45"/>
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        <balance>154891.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141523.57000000</valUSD>
        <pctVal>0.115737758928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.81356840</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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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="565623"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-438.04000000</valUSD>
        <pctVal>-0.00035822844</pctVal>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs Bank</counterpartyName>
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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="567990"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <pctVal>0.000106918971</pctVal>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Goldman Sachs Bank</counterpartyName>
              <counterpartyLei>KD3XUN7C6T14HNAYLU02</counterpartyLei>
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            <amtCurSold>7300000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>53933.81000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2022-07-05</settlementDt>
            <unrealizedAppr>130.74000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA/FHLMC UMBS, 30 Year, Single Family</title>
        <cusip>01F040685</cusip>
        <identifiers>
          <isin value="US01F0406854"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394203.12000000</valUSD>
        <pctVal>0.322378708163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-25</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>Kingdom of Denmark</name>
        <lei>549300PTO6LS1PTM6607</lei>
        <title>Kingdom of Denmark</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009922916"/>
        </identifiers>
        <balance>3373164.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="7.09755000"/>
        <valUSD>494448.42000000</valUSD>
        <pctVal>0.404359161067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</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>MASTR Asset-Backed Securities Trust</name>
        <lei>N/A</lei>
        <title>MASTR Asset-Backed Securities Trust, Series 2006-WMC4, Class A5</title>
        <cusip>57645MAE2</cusip>
        <identifiers>
          <isin value="US57645MAE21"/>
        </identifiers>
        <balance>114650.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42055.04000000</valUSD>
        <pctVal>0.034392547342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.77356880</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>Nykredit Realkredit A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
        <title>Nykredit Realkredit A/S, Series 01EE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009524431"/>
        </identifiers>
        <balance>199337.12000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="7.09755000"/>
        <valUSD>20816.36000000</valUSD>
        <pctVal>0.017023587346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828H45</cusip>
        <identifiers>
          <isin value="US912828H458"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>983017.04000000</valUSD>
        <pctVal>0.803909830693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-08-01</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>
</edgarSubmission>
