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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810PS1</cusip>
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          <isin value="US912810PS15"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30158.85000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
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          <annualizedRt>2.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bear Stearns ALT-A Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ALT-A Trust, Series 2005-7, Class 22A1</title>
        <cusip>07386HVS7</cusip>
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          <isin value="US07386HVS74"/>
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        <balance>21428.80980000</balance>
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        <curCd>USD</curCd>
        <valUSD>13195.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
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          <annualizedRt>3.72915360</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ares European CLO VI DAC</name>
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        <cusip>N/A</cusip>
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          <isin value="XS2305822384"/>
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        <balance>494179.91000000</balance>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.98799920</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>New Zealand Government Inflation Linked Bond</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="NZIIBDT002C2"/>
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        <balance>161174.01000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>NZ</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Horizon Alternative Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <cusip>32051D3G5</cusip>
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          <isin value="US32051D3G58"/>
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        <balance>2641.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2448.03000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>362341FR5</cusip>
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          <isin value="US362341FR55"/>
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        <curCd>USD</curCd>
        <valUSD>1835.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-25</maturityDt>
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          <annualizedRt>3.65191560</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GreenPoint MTA Trust</name>
        <lei>N/A</lei>
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        <cusip>39538RAB5</cusip>
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          <isin value="US39538RAB50"/>
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        <balance>3450.47000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3135.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.82870880</annualizedRt>
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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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USCPI</title>
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          <other otherDesc="Inhouse Asset ID" value="011174AHS"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Schatz</title>
        <cusip>N/A</cusip>
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          <isin value="DE000C6YTCP7"/>
          <other otherDesc="Future Ticker" value="DUH3 Comdty"/>
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        <balance>-52.00000000</balance>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>GOLDMAN SACHS 1</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="115112"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>RFMSI Trust</name>
        <lei>N/A</lei>
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          <isin value="US762009AK44"/>
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        <curCd>USD</curCd>
        <valUSD>3008.39000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810RF7</cusip>
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          <isin value="US912810RF75"/>
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        <balance>1620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1922443.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>FCPIX</title>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.93418655"/>
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        <invCountry>GB</invCountry>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <valUSD>-27650.78000000</valUSD>
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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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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>RALI Trust</name>
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          <isin value="US74924EAA55"/>
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      <invstOrSec>
        <name>Merrill Lynch Life Agency, Inc.</name>
        <lei>N/A</lei>
        <title>Merrill Lynch Life Agency, Inc.</title>
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          <isin value="US59024LAB71"/>
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        <balance>8971.78000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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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="US912828YL86"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Kingdom of Saudi Arabia</name>
        <lei>635400FMICXSM3SI3H65</lei>
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          <isin value="XS1791937441"/>
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        <balance>200000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>N/A</name>
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        <name>FHLMC Pool</name>
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        <name>N/A</name>
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        <name>Banc of America Funding Trust</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
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        <name>Fremont Home Loan Trust</name>
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        <name>Mellon Residential Funding Corp. Mortgage Pass-Through Certificates</name>
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        <name>CIT Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>Morgan Stanley IXIS Real Estate Capital Trust</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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      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US12668ATT24"/>
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        <balance>856.34000000</balance>
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      <invstOrSec>
        <name>NovaStar Mortgage Funding Trust</name>
        <lei>N/A</lei>
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          <isin value="US66987XGY58"/>
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        <balance>26055.20000000</balance>
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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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        <fairValLevel>2</fairValLevel>
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        <name>C-BASS TRUST</name>
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          <isin value="US12465MAA27"/>
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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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        <name>Residential Asset Securitization Trust</name>
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        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>Structured Asset Securities Corp. Mortgage Loan Trust</name>
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        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US02148FBX24"/>
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        <name>FNMA</name>
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        <name>N/A</name>
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        <name>Morgan Stanley Mortgage Loan Trust</name>
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        <name>N/A</name>
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        <name>First Franklin Mortgage Loan Trust</name>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>New Zealand Government Inflation Linked Bond</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>IndyMac INDA Mortgage Loan Trust</name>
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        <name>Republic of Italy</name>
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        <name>Eurosail-UK plc</name>
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        <name>Bank of America Corp.</name>
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      <invstOrSec>
        <name>Residential Mortgage Securities 32 plc</name>
        <lei>54930041T52UP3IPLN03</lei>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Soundview Home Equity Loan Trust</name>
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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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      <invstOrSec>
        <name>United States of America</name>
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        <balance>530000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LCM XXV Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>N/A</name>
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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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        <name>N/A</name>
        <lei>N/A</lei>
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        <curCd>N/A</curCd>
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        <name>Alternative Loan Trust</name>
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      <invstOrSec>
        <name>Wellfleet CLO Ltd.</name>
        <lei>254900N8RLNFSYP97206</lei>
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        <cusip>94949RAS6</cusip>
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        <balance>358044.20000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
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      <invstOrSec>
        <name>JP Morgan Alternative Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US466286AD37"/>
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        <balance>27678.53840000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments II Trust</name>
        <lei>N/A</lei>
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          <isin value="US86360KAA60"/>
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        <balance>3116.74870000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2006-30, Class KF</title>
        <cusip>31395B6R9</cusip>
        <identifiers>
          <isin value="US31395B6R90"/>
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        <balance>181.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178.88000000</valUSD>
        <pctVal>0.000218192854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>CVC Cordatus Loan Fund III DAC</name>
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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>IndyMac INDX Mortgage Loan Trust</name>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-02-17</maturityDt>
          <couponKind>None</couponKind>
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        <name>N/A</name>
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        <title>RPI</title>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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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>Citigroup Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>17313QAL2</cusip>
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          <isin value="US17313QAL23"/>
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        <balance>6486.90040000</balance>
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        <name>Bear Stearns ARM Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ARM Trust, Series 2005-1, Class 2A1</title>
        <cusip>07387AAB1</cusip>
        <identifiers>
          <isin value="US07387AAB17"/>
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        <balance>4337.41000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <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>
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        <name>Atlas Senior Loan Fund Ltd.</name>
        <lei>N/A</lei>
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        <cusip>04943AAC3</cusip>
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          <isin value="US04943AAC36"/>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2005-A6, Class 2A1</title>
        <cusip>466247TQ6</cusip>
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        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2008-R2, Class 1A1</title>
        <cusip>46632TAA3</cusip>
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          <isin value="US46632TAA34"/>
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        <balance>8842.38000000</balance>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3133KNXV0</cusip>
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        <balance>99616.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87779.79000000</valUSD>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Bond CPI Linked</title>
        <cusip>N/A</cusip>
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          <isin value="JP1120231J51"/>
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        <balance>112201270.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="131.24000000"/>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX0MGO0000P2"/>
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        <balance>1980000.00000000</balance>
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        <currencyConditional curCd="MXN" exchangeRt="19.48650000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-29</maturityDt>
          <couponKind>Fixed</couponKind>
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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 10 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="TYH3COM"/>
          <other otherDesc="Future Ticker" value="TYH3 Comdty"/>
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        <balance>24.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6407.88000000</valUSD>
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        <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>
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              <otherRefInst>
                <issuerName>United States of America</issuerName>
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                  <ticker value="TYH3 Comdty"/>
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            </descRefInstrmnt>
            <expDate>2023-03-22</expDate>
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            <unrealizedAppr>-6407.88000000</unrealizedAppr>
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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>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="111660"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-2162.22000000</valUSD>
        <pctVal>-0.00263741588</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">
            <counterparties>
              <counterpartyName>Citibank</counterpartyName>
              <counterpartyLei>MBNUM2BPBDO7JBLYG310</counterpartyLei>
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            <amtCurSold>179769.00000000</amtCurSold>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Structured Pass-Through Certificates, Series T-62, Class 1A1</title>
        <cusip>31395HHV5</cusip>
        <identifiers>
          <isin value="US31395HHV50"/>
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        <balance>32027.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31871.96000000</valUSD>
        <pctVal>0.038876531359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.24825840</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>Structured Asset Mortgage Investments II Trust</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust, Series 2004-AR5, Class 1A1</title>
        <cusip>86359LDX4</cusip>
        <identifiers>
          <isin value="US86359LDX47"/>
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        <balance>722.18000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>672.04000000</valUSD>
        <pctVal>0.000819735721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.99914000</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>912810PZ5</cusip>
        <identifiers>
          <isin value="US912810PZ57"/>
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        <balance>470000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>680730.01000000</valUSD>
        <pctVal>0.830335554549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</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>
        <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="112498"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>2948.22000000</valUSD>
        <pctVal>0.003596156850</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>Morgan Stanley &amp; Co. International</counterpartyName>
              <counterpartyLei>4PQUHN3JPFGFNF3BB653</counterpartyLei>
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            <amtCurSold>80274.05000000</amtCurSold>
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            <amtCurPur>131000.00000000</amtCurPur>
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            <settlementDt>2023-02-16</settlementDt>
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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>USCPI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="011217AHS"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5278.26000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="USCPI" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="1"/>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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      <invstOrSec>
        <name>Securitized Asset-Backed Receivables LLC Trust</name>
        <lei>N/A</lei>
        <title>Securitized Asset-Backed Receivables LLC Trust, Series 2007-HE1, Class A2A</title>
        <cusip>81377JAB9</cusip>
        <identifiers>
          <isin value="US81377JAB98"/>
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        <balance>10368.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2340.19000000</valUSD>
        <pctVal>0.002854498748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.50870840</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828B25</cusip>
        <identifiers>
          <isin value="US912828B253"/>
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        <balance>1540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1926711.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>RPI</title>
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          <other otherDesc="Inhouse Asset ID" value="011437AHS"/>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140MSLX1</cusip>
        <identifiers>
          <isin value="US3140MSLX13"/>
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        <balance>991873.15000000</balance>
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        <curCd>USD</curCd>
        <valUSD>932973.84000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2019-HY2, Class A1</title>
        <cusip>89177HAA0</cusip>
        <identifiers>
          <isin value="US89177HAA05"/>
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        <balance>25806.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25564.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.38871040</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>912810FS2</cusip>
        <identifiers>
          <isin value="US912810FS25"/>
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        <balance>860000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1291240.34000000</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>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <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 Bonds</title>
        <cusip>912810QF8</cusip>
        <identifiers>
          <isin value="US912810QF84"/>
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        <balance>770000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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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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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Banc of America Mortgage Trust</name>
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      <invstOrSec>
        <name>Commonwealth of Australia</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Park Place Securities, Inc. Asset-Backed Pass-Through Certificates</name>
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        <cusip>70069FAZ0</cusip>
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          <isin value="US70069FAZ09"/>
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        <balance>95750.75000000</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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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
        <title>WaMu Mortgage Pass-Through Certificates Trust, Series 2002-AR17, Class 1A</title>
        <cusip>929227XB7</cusip>
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        <balance>217.29000000</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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        <name>Park Place Securities, Inc. Asset-Backed Pass-Through Certificates</name>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Argent Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>040104MX6</cusip>
        <identifiers>
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        <balance>17670.45180000</balance>
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        <valUSD>15782.42000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RALI Trust</name>
        <lei>N/A</lei>
        <title>RALI Trust, Series 2005-QO1, Class A1</title>
        <cusip>761118EN4</cusip>
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          <isin value="US761118EN47"/>
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        <balance>1466.79000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1100.58000000</valUSD>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <curCd>USD</curCd>
        <valUSD>2762861.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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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>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810SM1</cusip>
        <identifiers>
          <isin value="US912810SM18"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>431534.34000000</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>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2007-1, Class A1</title>
        <cusip>170255AA1</cusip>
        <identifiers>
          <isin value="US170255AA19"/>
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        <balance>31947.83490000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16047.07000000</valUSD>
        <pctVal>0.019573770175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Structured Pass-Through Certificates, Series T-32, Class A1</title>
        <cusip>3133TSQG1</cusip>
        <identifiers>
          <isin value="US3133TSQG11"/>
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        <balance>561.56000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>550.79000000</valUSD>
        <pctVal>0.000671838340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.64870880</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>N/A</name>
        <lei>N/A</lei>
        <title>RPI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="011319AHS"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82716406"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="UKRPI" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="1"/>
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            <upfrontRcpt>3279.14000000</upfrontRcpt>
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            <notionalAmt>300000.00000000</notionalAmt>
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            <unrealizedAppr>32561.58000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust, Series 2005-17, Class 3A1</title>
        <cusip>863579VM7</cusip>
        <identifiers>
          <isin value="US863579VM76"/>
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        <balance>1416.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1201.01000000</valUSD>
        <pctVal>0.001464958632</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>3.67838280</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="114232"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-914.07000000</valUSD>
        <pctVal>-0.00111495719</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>Morgan Stanley &amp; Co. International</counterpartyName>
              <counterpartyLei>4PQUHN3JPFGFNF3BB653</counterpartyLei>
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            <amtCurSold>3000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>22079.09000000</amtCurPur>
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            <settlementDt>2023-02-16</settlementDt>
            <unrealizedAppr>-914.07000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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="GB00BGDYHF49"/>
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        <balance>254229.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82716406"/>
        <valUSD>288727.80000000</valUSD>
        <pctVal>0.352182149170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>HICPXT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="011131AHS"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93418655"/>
        <valUSD>-20615.68000000</valUSD>
        <pctVal>-0.02514643373</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.38000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="HICPXT" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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            <curCd>EUR</curCd>
            <unrealizedAppr>-20615.68000000</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Bear Stearns ALT-A Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ALT-A Trust, Series 2006-2, Class 23A1</title>
        <cusip>07386HF71</cusip>
        <identifiers>
          <isin value="US07386HF711"/>
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        <balance>9260.00050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7103.67000000</valUSD>
        <pctVal>0.008664859315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.72380040</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>STWD Ltd.</name>
        <lei>N/A</lei>
        <title>STWD Ltd., Series 2019-FL1, Class A</title>
        <cusip>78485WAA7</cusip>
        <identifiers>
          <isin value="US78485WAA71"/>
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        <balance>131705.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>126809.82000000</valUSD>
        <pctVal>0.154679095478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.52020040</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>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="WNH3COS"/>
          <other otherDesc="Future Ticker" value="WNH3 Comdty"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>9355.49000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>United States of America</issuerName>
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                  <ticker value="WNH3 Comdty"/>
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            <expDate>2023-03-22</expDate>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-OAT</title>
        <cusip>N/A</cusip>
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          <isin value="DE000C6YTCS1"/>
          <other otherDesc="Future Ticker" value="OATH3 Comdty"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.93418655"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Eurex Clearing</counterpartyName>
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                  <ticker value="OATH3 Comdty"/>
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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 A2</title>
        <cusip>86359LPE3</cusip>
        <identifiers>
          <isin value="US86359LPE38"/>
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        <balance>1623.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1500.12000000</valUSD>
        <pctVal>0.001829804700</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.83914160</annualizedRt>
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      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Bond CPI Linked</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1120241K56"/>
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        <balance>63523570.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="131.24000000"/>
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        <pctVal>0.612414806877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 278, Class F1</title>
        <cusip>3132HTBH8</cusip>
        <identifiers>
          <isin value="US3132HTBH86"/>
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        <balance>54834.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53852.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
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        <curCd>USD</curCd>
        <valUSD>326979.66000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828V49</cusip>
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          <isin value="US912828V491"/>
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        <balance>1110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1292085.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2006-HYB3, Class 3A1B</title>
        <cusip>1266944F2</cusip>
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          <isin value="US1266944F22"/>
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        <balance>1982.52670000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1794.66000000</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>2036-05-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.22906680</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
        <cusip>912810RA8</cusip>
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          <isin value="US912810RA88"/>
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        <balance>540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>565227.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bear Stearns ARM Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ARM Trust, Series 2004-10, Class 13A1</title>
        <cusip>07384M4E9</cusip>
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          <isin value="US07384M4E98"/>
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        <balance>2563.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2308.36000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.81001680</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="011554AHS"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>RPI</title>
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          <other otherDesc="Inhouse Asset ID" value="000587AHS"/>
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        <balance>100000.00000000</balance>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <title>RPI</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>91282CAQ4</cusip>
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          <isin value="US91282CAQ42"/>
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        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1965397.43000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.12500000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
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          <other otherDesc="Inhouse Asset ID" value="011404AH"/>
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        <balance>3300000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>Citibank</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>31395M2F5</cusip>
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          <isin value="US31395M2F53"/>
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        <balance>9958.13000000</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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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Alliance Bancorp Trust</name>
        <lei>N/A</lei>
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        <cusip>01852TAA1</cusip>
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          <isin value="US01852TAA16"/>
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        <balance>23065.48000000</balance>
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        <curCd>USD</curCd>
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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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          <couponKind>Floating</couponKind>
          <annualizedRt>4.86870840</annualizedRt>
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      <invstOrSec>
        <name>Eurosail-UK plc</name>
        <lei>213800YCKG3TNT5E1296</lei>
        <title>Eurosail-UK plc, Series 2007-3X, Class A3C</title>
        <cusip>N/A</cusip>
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          <isin value="XS0308710143"/>
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        <balance>12483.26000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.82716406"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.50216915</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Bear Stearns ARM Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ARM Trust, Series 2005-9, Class A1</title>
        <cusip>07387AEG6</cusip>
        <identifiers>
          <isin value="US07387AEG67"/>
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        <balance>4536.48390000</balance>
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        <curCd>USD</curCd>
        <valUSD>4195.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USCPI</title>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-7578.57000000</valUSD>
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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>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Renaissance Home Equity Loan Trust</name>
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        <name>N/A</name>
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        <name>Sequoia Mortgage Trust</name>
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      <invstOrSec>
        <name>Lehman ABS Manufactured Housing Contract Trust</name>
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        <name>N/A</name>
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        <title>RPI</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US45660LJZ31"/>
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        <balance>16875.01000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Banc of America Funding Trust</name>
        <lei>N/A</lei>
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          <isin value="US05951EAM93"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-01-20</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Towd Point Mortgage Funding Granite4 plc</name>
        <lei>635400655NWVVZHH1395</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1968576568"/>
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        <balance>167813.36000000</balance>
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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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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="111658"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank</counterpartyName>
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            <amtCurSold>779190.00000000</amtCurSold>
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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>
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          <isin value="GB00K708D592"/>
          <other otherDesc="Future Ticker" value="G H3 Comdty"/>
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        <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>Long</payOffProf>
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                <issuerName>United Kingdom of Great Britain and Northern Ireland</issuerName>
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                  <ticker value="G H3 Comdty"/>
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            <expDate>2023-03-29</expDate>
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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="US91282CDX65"/>
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        <balance>2900000.00000000</balance>
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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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          <other otherDesc="Inhouse Asset ID" value="011481AHS"/>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>LCH Clearnet</counterpartyName>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3140N16S75"/>
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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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      <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="TUH3COM"/>
          <other otherDesc="Future Ticker" value="TUH3 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>United States of America</issuerName>
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            <expDate>2023-03-31</expDate>
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      <invstOrSec>
        <name>Canadian Government Real Return Bond</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087VS0</cusip>
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          <isin value="CA135087VS05"/>
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        <balance>245193.20000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
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        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>Citibank</counterpartyName>
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            <putOrCall>Call</putOrCall>
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        <name>Alternative Loan Trust</name>
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        <cusip>02147DAB7</cusip>
        <identifiers>
          <isin value="US02147DAB73"/>
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        <balance>48142.65950000</balance>
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        <curCd>USD</curCd>
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          <couponKind>Floating</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond</title>
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          <other otherDesc="Inhouse Sedol" value="USH3COS"/>
          <other otherDesc="Future Ticker" value="USH3 Comdty"/>
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        <balance>-30.00000000</balance>
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                <issuerName>United States of America</issuerName>
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            <expDate>2023-03-22</expDate>
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      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
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          <isin value="US41161PWB56"/>
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        <balance>1884.95000000</balance>
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        <curCd>USD</curCd>
        <valUSD>988.49000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.93418655"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>Republic of Peru</name>
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        <name>THL Credit Wind River CLO Ltd.</name>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RPI</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="011586AHS"/>
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        <balance>300000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
        <title>WaMu Mortgage Pass-Through Certificates Trust, Series 2006-AR3, Class A1A</title>
        <cusip>92925CDA7</cusip>
        <identifiers>
          <isin value="US92925CDA71"/>
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        <balance>1518.33000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1329.05000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OZLM XXIV Ltd.</name>
        <lei>N/A</lei>
        <title>OZLM XXIV Ltd., Series 2019-24A, Class A1AR</title>
        <cusip>67113DAW4</cusip>
        <identifiers>
          <isin value="US67113DAW48"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194974.60000000</valUSD>
        <pctVal>0.237824600408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-20</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust, Series 2004-1, Class 4A2</title>
        <cusip>86359BGG0</cusip>
        <identifiers>
          <isin value="US86359BGG05"/>
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        <balance>1289.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1206.41000000</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>2034-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.77959680</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Japan 10 Year Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="JBH3COS"/>
          <other otherDesc="Future Ticker" value="JBH3 Comdty"/>
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        <balance>-4.00000000</balance>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Japan Securities Clearing</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Japan 10 Year Bond</issuerName>
                <issueTitle>Japan 10 Year Bond</issueTitle>
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                  <ticker value="JBH3 Comdty"/>
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            <expDate>2023-03-13</expDate>
            <notionalAmt>-581840000.00000000</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>77742.57000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lehman XS Trust</name>
        <lei>N/A</lei>
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        <cusip>52525AAA2</cusip>
        <identifiers>
          <isin value="US52525AAA25"/>
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        <balance>27142.19660000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26330.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-25</maturityDt>
          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CWABS Asset-Backed Certificates Trust</name>
        <lei>549300XF11BHS5IOB463</lei>
        <title>CWABS, Inc. Asset-backed Certificates, Series 2007-12, Class 1A1</title>
        <cusip>126697AA9</cusip>
        <identifiers>
          <isin value="US126697AA90"/>
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        <balance>11565.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11173.35000000</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>2047-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.12871120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="011339AHS"/>
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        <balance>40000000.00000000</balance>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>United States Small Business Administration</name>
        <lei>N/A</lei>
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        <cusip>83162CRY1</cusip>
        <identifiers>
          <isin value="US83162CRY11"/>
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        <balance>3484.50000000</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>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.02000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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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="GB00B85SFQ54"/>
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        <balance>440547.00000000</balance>
        <units>PA</units>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>RPI</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="010671AHS"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>Bear Stearns Asset-Backed Securities I Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns Asset-Backed Securities I Trust, Series 2005-HE1, Class M4</title>
        <cusip>073879PU6</cusip>
        <identifiers>
          <isin value="US073879PU69"/>
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        <balance>309016.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>287718.39000000</valUSD>
        <pctVal>0.350950898895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="UXYH3CM"/>
          <other otherDesc="Future Ticker" value="UXYH3 Comdty"/>
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        <balance>-24.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3904.63000000</valUSD>
        <pctVal>0.004762759197</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>United States of America</issuerName>
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            <expDate>2023-03-22</expDate>
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            <unrealizedAppr>3904.63000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>First Horizon Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>First Horizon Mortgage Pass-Through Trust, Series 2005-AR3, Class 2A1</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CIFC Funding Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US12551PAA03"/>
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        <balance>170872.37000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>FCPIX</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
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            <unrealizedAppr>68512.58000000</unrealizedAppr>
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      <invstOrSec>
        <name>Morgan Stanley ABS Capital I, Inc. Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley ABS Capital I, Inc. Trust, Series 2006-HE8, Class A2D</title>
        <cusip>61750SAF9</cusip>
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          <isin value="US61750SAF92"/>
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        <balance>713078.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>315523.71000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>GreenPoint Mortgage Funding Trust</name>
        <lei>N/A</lei>
        <title>GreenPoint Mortgage Funding Trust, Series 2006-AR4, Class A6A</title>
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          <isin value="US39539FAK03"/>
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        <balance>49966.18000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.74870960</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
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        <balance>-100000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>Goldman Sachs Bank</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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            <delta>XXXX</delta>
            <unrealizedAppr>1975.48000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust, Series 2006-AR1, Class 2A1</title>
        <cusip>17307G3C0</cusip>
        <identifiers>
          <isin value="US17307G3C01"/>
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        <balance>3861.72810000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3493.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.37999920</annualizedRt>
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      <invstOrSec>
        <name>Credit-Based Asset Servicing and Securitization LLC</name>
        <lei>N/A</lei>
        <title>Credit-Based Asset Servicing &amp; Securitization LLC, Series 2005-CB3, Class M4</title>
        <cusip>12489WLH5</cusip>
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          <isin value="US12489WLH50"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22843.26000000</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>2035-06-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust, Series 2004-19, Class 2A1</title>
        <cusip>863579JG4</cusip>
        <identifiers>
          <isin value="US863579JG47"/>
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        <balance>1492.90020000</balance>
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        <curCd>USD</curCd>
        <valUSD>1232.11000000</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>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.44826000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USCPI</title>
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          <other otherDesc="Inhouse Asset ID" value="011417AHS"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-2702.10000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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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>52033.65000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51493.32000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>1.96828920</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="112194"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Citibank</counterpartyName>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>GSR Mortgage Loan Trust, Series 2004-12, Class 3A6</title>
        <cusip>36242DLF8</cusip>
        <identifiers>
          <isin value="US36242DLF86"/>
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        <balance>2500.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2200.78000000</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>2034-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.73998960</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Horizon Alternative Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>First Horizon Alternative Mortgage Securities Trust, Series 2006-FA8, Class 1A7</title>
        <cusip>32052DAG6</cusip>
        <identifiers>
          <isin value="US32052DAG60"/>
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        <balance>9670.35740000</balance>
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        <curCd>USD</curCd>
        <valUSD>4125.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RPI</title>
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        <balance>100000.00000000</balance>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
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        <name>Wellfleet CLO Ltd.</name>
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        <name>Midocean Credit CLO V</name>
        <lei>549300SR4K4D5ZP3EW03</lei>
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        <name>FHLMC</name>
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        <name>United States of America</name>
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        <name>CSMC Mortgage-Backed Trust</name>
        <lei>N/A</lei>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SLM Student Loan Trust</name>
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        <name>Securitized Asset-Backed Receivables LLC Trust</name>
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        <name>JP Morgan Mortgage Trust</name>
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          <isin value="US466247UG61"/>
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        <name>GreenPoint Mortgage Funding Trust</name>
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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <balance>3704.47000000</balance>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <name>Alternative Loan Trust</name>
        <lei>549300QTQ6MX6ER06N64</lei>
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          <isin value="US126680AA57"/>
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        <name>Lehman XS Trust</name>
        <lei>N/A</lei>
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        <balance>24227.13520000</balance>
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        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
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        <lei>N/A</lei>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
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        <lei>N/A</lei>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>IndyMac INDB Mortgage Loan Trust</name>
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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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          <isin value="US912810TE82"/>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <title>IRS</title>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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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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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>23246KAA9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <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>9128285W6</cusip>
        <identifiers>
          <isin value="US9128285W63"/>
        </identifiers>
        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1463763.13000000</valUSD>
        <pctVal>1.785457600551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</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>N/A</name>
        <lei>N/A</lei>
        <title>USCPI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="010730AHS"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-13735.44000000</valUSD>
        <pctVal>-0.01675410812</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.88250000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="USCPI" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2029-11-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>100000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-13735.44000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ellington Loan Acquisition Trust</name>
        <lei>N/A</lei>
        <title>Ellington Loan Acquisition Trust, Series 2007-1, Class A1</title>
        <cusip>288542AA1</cusip>
        <identifiers>
          <isin value="US288542AA12"/>
        </identifiers>
        <balance>20947.66000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19776.22000000</valUSD>
        <pctVal>0.024122483744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.48871120</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="112933"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-1539.19000000</valUSD>
        <pctVal>-0.00187746120</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>JP Morgan Chase Bank</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <amtCurSold>4300000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>31417.67000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2023-02-16</settlementDt>
            <unrealizedAppr>-1539.19000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lehman XS Trust</name>
        <lei>N/A</lei>
        <title>Lehman XS Trust, Series 2006-8, Class 3A4</title>
        <cusip>52522HAM4</cusip>
        <identifiers>
          <isin value="US52522HAM43"/>
        </identifiers>
        <balance>13994.42620000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13027.06000000</valUSD>
        <pctVal>0.015890045877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.29185880</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>RPI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="010672AHS"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.82716406"/>
        <valUSD>-30700.64000000</valUSD>
        <pctVal>-0.03744778776</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.85000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="UKRPI" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2024-09-15</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>19.70000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>200000.00000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>-30700.64000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
        <cusip>313384AV1</cusip>
        <identifiers>
          <isin value="US313384AV14"/>
        </identifiers>
        <balance>22500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22455317.25000000</valUSD>
        <pctVal>27.39037214088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>Saxon Asset Securities Trust</name>
        <lei>N/A</lei>
        <title>Saxon Asset Securities Trust, Series 2007-3, Class 1A</title>
        <cusip>80557BAA2</cusip>
        <identifiers>
          <isin value="US80557BAA26"/>
        </identifiers>
        <balance>35772.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33623.35000000</valUSD>
        <pctVal>0.041012828225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.69870920</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>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
        <title>Merrill Lynch Mortgage Investors Trust, Series 2006-RM4, Class A2A</title>
        <cusip>59023QAB7</cusip>
        <identifiers>
          <isin value="US59023QAB77"/>
        </identifiers>
        <balance>516.33000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111.93000000</valUSD>
        <pctVal>0.000136529104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.54871160</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>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>GSR Mortgage Loan Trust, Series 2005-AR6, Class 2A1</title>
        <cusip>362341RX9</cusip>
        <identifiers>
          <isin value="US362341RX95"/>
        </identifiers>
        <balance>2441.85000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2282.11000000</valUSD>
        <pctVal>0.002783654377</pctVal>
        <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>3.76725600</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>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120797.66000000</valUSD>
        <pctVal>0.147345629737</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>2023-01-30</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>
</edgarSubmission>
