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      <invstOrSec>
        <name>N/A</name>
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        <name>New Zealand Government Inflation Linked Bond</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>United States of America</name>
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        <name>Nordea Kredit Realkreditaktieselskab</name>
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        <name>Home Equity Mortgage Loan Asset-Backed Trust</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Deutsche Bank</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00KCBQ8522"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE Clear Europe</counterpartyName>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US912828Y388"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>French Republic</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>RALI Trust</name>
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          <isin value="US74924EAA55"/>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="JBM3COS"/>
          <other otherDesc="Future Ticker" value="JBM3 Comdty"/>
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              <counterpartyName>Japan Securities Clearing</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>Japan</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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          <other otherDesc="Inhouse Asset ID" value="650034"/>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US912828YL86"/>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Inflation Linked Bonds</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dutch Property Finance BV</name>
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        <invCountry>NL</invCountry>
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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="659177"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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              <counterpartyName>Bank of America</counterpartyName>
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      <invstOrSec>
        <name>Long Beach Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Long Beach Mortgage Loan Trust, Series 2006-7, Class 2A2</title>
        <cusip>54251TAC3</cusip>
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          <isin value="US54251TAC36"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <units>NC</units>
        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
        <cusip>N/A</cusip>
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          <isin value="CH0591979635"/>
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        <invCountry>CH</invCountry>
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        <name>Realkredit Danmark A/S</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark A/S, Series CCS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0004612454"/>
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        <balance>3863551.62000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <invCountry>DK</invCountry>
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      <invstOrSec>
        <name>DSLA Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <balance>41765.84000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34001.70000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Realkredit Danmark A/S</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark A/S, Series 23S</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0004619467"/>
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        <balance>471181.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US9128286N55"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-15</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Deutsche Bank</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="654113"/>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Bank of America</counterpartyName>
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      <invstOrSec>
        <name>Mountain View CLO X Ltd.</name>
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          <isin value="US62432CAQ42"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810RR14"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-02-15</maturityDt>
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        <name>United States of America</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>CIT Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>French Republic</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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        <name>French Republic</name>
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      <invstOrSec>
        <name>Soundview Home Loan Trust</name>
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        <name>Realkredit Danmark A/S</name>
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        <title>Realkredit Danmark A/S</title>
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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>
        <lei>N/A</lei>
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        <name>CSMC Trust</name>
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        <cusip>12639QAA4</cusip>
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        <name>CWABS Asset-Backed Certificates Trust</name>
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        <name>United States of America</name>
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        <name>Republic of Italy</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Republic of Italy</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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        <name>French Republic</name>
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        <name>N/A</name>
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        <name>French Republic</name>
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        <name>Kingdom of Sweden</name>
        <lei>ERE94C0BSULG2RM19605</lei>
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      <invstOrSec>
        <name>Residential Mortgage Securities 32 plc</name>
        <lei>54930041T52UP3IPLN03</lei>
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        <identifiers>
          <isin value="XS2207321931"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Bond CPI Linked, Series 20</title>
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          <isin value="JP1120201F51"/>
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        <balance>13858000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="132.77500000"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>0.10000000</annualizedRt>
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        <name>Lehman Mortgage Trust</name>
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          <isin value="US52520MEK53"/>
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        <curCd>USD</curCd>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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      <invstOrSec>
        <name>Credit-Based Asset Servicing and Securitization LLC</name>
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        <balance>294777.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204276.02000000</valUSD>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2005-A2, Class 5A2</title>
        <cusip>466247NV1</cusip>
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          <isin value="US466247NV12"/>
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        <balance>1393.82000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1370.73000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Nykredit Realkredit A/S</name>
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        <name>French Republic</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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          <isin value="FR0012558310"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="659179"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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              <counterpartyName>Bank of America</counterpartyName>
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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>
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          <isin value="US912810FS25"/>
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        <balance>296000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452521.17000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>912810QF8</cusip>
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          <isin value="US912810QF84"/>
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        <balance>420000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-02-15</maturityDt>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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          <isin value="US01F0426407"/>
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        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1370906.32000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="613425"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-16386.64000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Goldman Sachs Bank</counterpartyName>
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        <name>Sequoia Mortgage Trust</name>
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          <isin value="US81743XAA72"/>
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        <balance>39864.80000000</balance>
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        <name>Uktv Interactive Ltd.</name>
        <lei>N/A</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Commonwealth of Australia</name>
        <lei>213800J6B7JSBDETCB42</lei>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="UXYM3CO"/>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STWD Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jyske Realkredit A/S</name>
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        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <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>
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          <isin value="US912828V491"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
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          <annualizedRt>0.37500000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
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          <isin value="US912810RA88"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301568.53000000</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>
          <annualizedRt>0.62500000</annualizedRt>
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      <invstOrSec>
        <name>Adagio CLO VIII DAC</name>
        <lei>635400GXSZ7DMJYBSH11</lei>
        <title>Adagio CLO VIII DAC, Series VIII-A, Class A</title>
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        <identifiers>
          <isin value="XS2054619734"/>
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        <balance>300000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92208391"/>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="USM3COS"/>
          <other otherDesc="Future Ticker" value="USM3 Comdty"/>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US91282CAQ42"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>N/A</name>
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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>Canadian Government Real Return Bond</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087YK4</cusip>
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        <balance>276836.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust, Inc.</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc., Series 2004-NCM2, Class 1CB1</title>
        <cusip>17307GGX0</cusip>
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        <balance>5711.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5141.85000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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          <isin value="GB00B24FFM16"/>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-22</maturityDt>
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          <annualizedRt>0.75000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Soundview Home Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US83613DAD84"/>
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        <balance>53148.61000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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          <isin value="GB00B421JZ66"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-22</maturityDt>
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          <annualizedRt>0.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nykredit Realkredit A/S</name>
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          <isin value="DK0009527616"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Mutual Mortgage Pass-Through Certificates WMALT Trust</name>
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          <isin value="US93934NAQ88"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-25</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Republic of Italy</name>
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          <isin value="IT0005246134"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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          <annualizedRt>1.30000000</annualizedRt>
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        <name>New Zealand Government Inflation Linked Bond</name>
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          <isin value="NZIIBDT005C5"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US91282CDX65"/>
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        <curCd>USD</curCd>
        <valUSD>1674778.63000000</valUSD>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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        <name>Commonwealth of Australia</name>
        <lei>213800J6B7JSBDETCB42</lei>
        <title>Commonwealth of Australia</title>
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          <isin value="AU000XCLWAO6"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.49599820"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-21</maturityDt>
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      <invstOrSec>
        <name>CWABS Asset-Backed Certificates Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="FVM3COM"/>
          <other otherDesc="Future Ticker" value="FVM3 Comdty"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>85449.83000000</valUSD>
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          <other otherDesc="Inhouse Sedol" value="UDC9952"/>
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        <name>N/A</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Alternative Loan Trust Resecuritization</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Nykredit Realkredit A/S</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <name>Lehman XS Trust</name>
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        <name>CWABS Asset-Backed Certificates Trust</name>
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        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <name>United States of America</name>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Deutsche Bank</counterpartyName>
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            <amtCurSold>624111679.00000000</amtCurSold>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nykredit Realkredit A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009535478"/>
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        <balance>9060426.09000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>2527322.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-22</maturityDt>
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          <annualizedRt>0.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jyske Realkredit A/S</name>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009399784"/>
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        <balance>633784.73000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Inflation Linked Bonds</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B128DH60"/>
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        <balance>1299951.33000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81063553"/>
        <valUSD>1721894.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</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>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="GB00B0CNHZ09"/>
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        <balance>638992.48000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.81063553"/>
        <valUSD>1001907.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="TYM3COM"/>
          <other otherDesc="Future Ticker" value="TYM3 Comdty"/>
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        <balance>12.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>40295.46000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <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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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="UDCDD39"/>
          <other otherDesc="Option Ticker" value="TYK3P 112.50 Comdty"/>
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        <valUSD>-156.25000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" 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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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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              <otherRefInst>
                <issuerName>United States of America</issuerName>
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                  <ticker value="TYM3 Comdty"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>250.67000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>French Republic</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0011008705"/>
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        <balance>1664931.67000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92208391"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>3040.95000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2635.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-25</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CWABS Asset-Backed Certificates Trust</name>
        <lei>N/A</lei>
        <title>CWABS Asset-Backed Certificates Trust, Series 2004-ECC1, Class M2</title>
        <cusip>126673AG7</cusip>
        <identifiers>
          <isin value="US126673AG76"/>
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        <balance>6414.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6369.42000000</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>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.89529160</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nordea Kredit Realkreditaktieselskab</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0002048701"/>
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        <balance>2658467.07000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <securityLending>
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        <name>Nordea Kredit Realkreditaktieselskab</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0002044551"/>
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        <balance>1863083.21000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>549300U48YU2VDL8N523</lei>
        <title>New Residential Mortgage Loan Trust, Series 2018-3A, Class A1</title>
        <cusip>64830KAA5</cusip>
        <identifiers>
          <isin value="US64830KAA51"/>
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        <balance>37556.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35161.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828S50</cusip>
        <identifiers>
          <isin value="US912828S505"/>
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        <balance>1130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1358011.96000000</valUSD>
        <pctVal>1.169435248112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</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>Nykredit Realkredit A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
        <title>Nykredit Realkredit A/S, Series 01E</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009528697"/>
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        <balance>1.61000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
        <valUSD>0.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F042657</cusip>
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          <isin value="US01F0426571"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2448535.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Securitized Asset-Backed Receivables LLC Trust</name>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Realkredit Danmark A/S</name>
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          <isin value="DK0004622925"/>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>GNMA</name>
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          <isin value="US38376RXT84"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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          <isin value="US03464LAA44"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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          <isin value="GB00B3D4VD98"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>European Financial Stability Facility</name>
        <lei>222100OW6UHQXNHKN143</lei>
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        <cusip>N/A</cusip>
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          <isin value="EU000A2SCAC2"/>
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        <invCountry>LU</invCountry>
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        <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>
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          <isin value="US9128282L36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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          <annualizedRt>0.37500000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US912828N712"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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        <name>Greystone Commercial Real Estate Notes Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US39809LAA26"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-15</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US912828ZZ63"/>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury Bonds</title>
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          <isin value="GB00BLPK7227"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-31</maturityDt>
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          <annualizedRt>0.50000000</annualizedRt>
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        <name>Jyske Realkredit A/S</name>
        <lei>529900R9HQNZRT2OXB26</lei>
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          <isin value="DK0009403131"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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          <other otherDesc="Inhouse Asset ID" value="648726"/>
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        <name>GSAA Trust</name>
        <lei>N/A</lei>
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          <isin value="US362334ND27"/>
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        <balance>20278.68000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.72000120</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Kingdom of Spain</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Kingdom of Spain</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <name>Realkredit Danmark A/S</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>Securitized Asset-Backed Receivables LLC Trust</name>
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        <name>Canada Government Bond</name>
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        <name>Jyske Realkredit A/S</name>
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        <name>United States of America</name>
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        <name>New Century Home Equity Loan Trust</name>
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        <name>N/A</name>
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        <name>Canada Government Bond</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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        <name>Realkredit Danmark A/S</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark A/S</title>
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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>HSI Asset Securitization Corp. Trust</name>
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          <isin value="US40431RAA32"/>
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          <maturityDt>2037-05-25</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810TE82"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2052-02-15</maturityDt>
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        <name>Alternative Loan Trust</name>
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          <isin value="US23246KAA97"/>
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        <curCd>USD</curCd>
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        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US9128285W63"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="649028"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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              <counterpartyName>Bank of America</counterpartyName>
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        <name>New Zealand Government Inflation Linked Bond</name>
        <lei>549300237GPHG2AI7C34</lei>
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          <isin value="NZIIBDT004C8"/>
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        <name>N/A</name>
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          <isin value="DE000C671E22"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="TUM3COM"/>
          <other otherDesc="Future Ticker" value="TUM3 Comdty"/>
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        <name>Nordea Kredit Realkreditaktieselskab</name>
        <lei>52990080NNXXLC14OC65</lei>
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        <cusip>N/A</cusip>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-01</maturityDt>
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        <name>CWABS Asset-Backed Certificates Trust</name>
        <lei>N/A</lei>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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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="653988"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-348.14000000</valUSD>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
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              <counterpartyName>Bank of America</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kingdom of Denmark</name>
        <lei>549300PTO6LS1PTM6607</lei>
        <title>Kingdom of Denmark</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009922916"/>
        </identifiers>
        <balance>3514626.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
        <valUSD>525120.48000000</valUSD>
        <pctVal>0.452201023927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nykredit Realkredit A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
        <title>Nykredit Realkredit A/S, Series 01EE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0009524431"/>
        </identifiers>
        <balance>48998.03000000</balance>
        <units>PA</units>
        <currencyConditional curCd="DKK" exchangeRt="6.86935000"/>
        <valUSD>4941.56000000</valUSD>
        <pctVal>0.004255363439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="654110"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>7144.88000000</valUSD>
        <pctVal>0.006152725279</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Barclays Bank</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <amtCurSold>378937.12000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>356000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2023-04-04</settlementDt>
            <unrealizedAppr>7144.88000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828H45</cusip>
        <identifiers>
          <isin value="US912828H458"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>986242.93000000</valUSD>
        <pctVal>0.849290933744</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>
      <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="UDC8BEE"/>
          <other otherDesc="Option Ticker" value="TYK3C 119.00 Comdty"/>
        </identifiers>
        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-250.00000000</valUSD>
        <pctVal>-0.00021528441</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Note</issueTitle>
                <identifiers>
                  <ticker value="TYM3 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100000.00000000</shareNo>
            <exercisePrice>119.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2023-04-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1578.48000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-05-01</ncom:dateSigned>
      <ncom:nameOfApplicant>EQ Advisors Trust</ncom:nameOfApplicant>
      <ncom:signature>Brian Walsh</ncom:signature>
      <ncom:signerName>Brian Walsh</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
