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        <name>AutoZone, Inc.</name>
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        <name>Kentucky Utilities Co.</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>Expand Energy Corp.</name>
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        <name>Bausch + Lomb Corp.</name>
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        <name>Warnermedia Holdings, Inc.</name>
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        <name>Affirm Asset Securitization Trust</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Mosaic Solar Loan Trust</name>
        <lei>N/A</lei>
        <title>Mosaic Solar Loan Trust, Series 2018-1A, Class A</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AH0</cusip>
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          <isin value="US428102AH01"/>
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        <balance>153000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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          <isin value="US3132DVMA07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lineage OP LP</name>
        <lei>254900CSRDL1G4SRQE89</lei>
        <title>Lineage OP LP</title>
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          <isin value="US53567YAA73"/>
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        <balance>284000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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      <invstOrSec>
        <name>GATX Corp.</name>
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        <title>GATX Corp.</title>
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          <isin value="US361448AU75"/>
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        <balance>130000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>CENT Trust</name>
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          <isin value="US12517TAA51"/>
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        <balance>312000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-10</maturityDt>
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        <name>McGraw-Hill Education, Inc.</name>
        <lei>254900U6YJ9QZ4IQOR26</lei>
        <title>McGraw-Hill Education, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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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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        <balance>1220000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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      <invstOrSec>
        <name>Empresa Electrica Angamos SA</name>
        <lei>529900PQ7VWZL30RZ733</lei>
        <title>Empresa Electrica Angamos SA</title>
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          <isin value="USP3713QAA50"/>
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        <balance>69500.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-25</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US90353KAX72"/>
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        <name>Magnetite XXXI Ltd.</name>
        <lei>549300J3BCFSIZAJJW77</lei>
        <title>Magnetite XXXI Ltd., Series 2021-31A, Class E</title>
        <cusip>55952GAA4</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <title>Wells Fargo Commercial Mortgage Trust, Series 2025-5C5, Class AS</title>
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        <balance>465000.00000000</balance>
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        <name>Peru LNG Srl</name>
        <lei>254900F70J1LOALV5K70</lei>
        <title>Peru LNG Srl</title>
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        <invCountry>PE</invCountry>
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          <maturityDt>2030-03-22</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Neuberger Berman CLO XVII Ltd.</name>
        <lei>549300XVEYZNG956Y145</lei>
        <title>Neuberger Berman CLO XVII Ltd., Series 2014-17A, Class AR3</title>
        <cusip>64129UCC7</cusip>
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          <isin value="US64129UCC71"/>
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        <balance>500000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874DX2</cusip>
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          <isin value="US026874DX22"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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      <invstOrSec>
        <name>SG Commercial Mortgage Securities Trust</name>
        <lei>549300SZQW4U3UN4A157</lei>
        <title>SG Commercial Mortgage Securities Trust, Series 2016-C5, Class XA</title>
        <cusip>78419CAG9</cusip>
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          <isin value="US78419CAG96"/>
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        <balance>433344.05450000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-10</maturityDt>
          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crown Castle, Inc.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle, Inc.</title>
        <cusip>22822VAH4</cusip>
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          <isin value="US22822VAH42"/>
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        <balance>200000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Buffalo Energy Mexico Holdings</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trident TPI Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US31418FEN33"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <cusip>3132DQGV2</cusip>
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          <isin value="US3132DQGV23"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
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        <name>Star Leasing Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-08-25</maturityDt>
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      <invstOrSec>
        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-25</maturityDt>
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      <invstOrSec>
        <name>Nassau Ltd.</name>
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        <cusip>63170MAA1</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
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        <name>Paychex, Inc.</name>
        <lei>529900K900DW6SUBM174</lei>
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          <maturityDt>2032-04-15</maturityDt>
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        <name>Progress Residential Trust</name>
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        <name>Vivint Solar Financing V LLC</name>
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        <name>NiSource, Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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        <name>GNMA</name>
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        <name>Freedom Mortgage Holdings LLC</name>
        <lei>254900ROJ91RGM43S156</lei>
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        <name>Republic of Paraguay</name>
        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Republic of Paraguay</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-27</maturityDt>
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          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>ICG US CLO I Ltd.</name>
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        <cusip>449278AJ9</cusip>
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          <isin value="US449278AJ94"/>
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        <balance>500000.00000000</balance>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54502.25000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2021-B23, Class XA</title>
        <cusip>08162RAF4</cusip>
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          <isin value="US08162RAF47"/>
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        <balance>4792060.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234748.18000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Phillips Edison Grocery Center Operating Partnership I LP</name>
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        <cusip>71845JAB4</cusip>
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          <isin value="US71845JAB44"/>
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        <balance>227000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Amortizing Residential Collateral Trust</name>
        <lei>N/A</lei>
        <title>Amortizing Residential Collateral Trust, Series 2002-BC10, Class M1</title>
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          <isin value="US86359AHE64"/>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-25</maturityDt>
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      <invstOrSec>
        <name>Simpar Europe SA</name>
        <lei>54930068BSUST41D5C30</lei>
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        <cusip>N/A</cusip>
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          <isin value="USL8449RAA79"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-26</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>American National Group, Inc.</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>American National Group, Inc.</title>
        <cusip>025676AQ0</cusip>
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          <isin value="US025676AQ00"/>
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        <balance>384000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>391899.38000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DB2</cusip>
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          <isin value="US718172DB29"/>
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        <balance>285000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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      <invstOrSec>
        <name>Empresas Publicas de Medellin ESP</name>
        <lei>549300SU25TO8EMXB434</lei>
        <title>Empresas Publicas de Medellin ESP</title>
        <cusip>N/A</cusip>
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          <isin value="USP9379RBC09"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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        <name>PSEG Power LLC</name>
        <lei>N/A</lei>
        <title>PSEG Power LLC</title>
        <cusip>69362BBD3</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>Transocean International Ltd.</title>
        <cusip>893830BL2</cusip>
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          <isin value="US893830BL24"/>
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        <balance>31000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
        <title>Velocity Commercial Capital Loan Trust, Series 2019-1, Class M1</title>
        <cusip>92257CAB6</cusip>
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          <isin value="US92257CAB63"/>
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        <balance>300068.17000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-03-25</maturityDt>
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      <invstOrSec>
        <name>JSW Infrastructure Ltd.</name>
        <lei>3358003E3YFK92C9WX80</lei>
        <title>JSW Infrastructure Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="USY4470XAA10"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-21</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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        <cusip>05606FAL7</cusip>
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          <isin value="US05606FAL76"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2041-12-09</maturityDt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAV3</cusip>
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          <isin value="US05401AAV35"/>
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        <balance>309000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418CBF0</cusip>
        <identifiers>
          <isin value="US31418CBF05"/>
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        <balance>467708.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422153.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Vale Overseas Ltd.</name>
        <lei>254900BA3U6G5DNV5V04</lei>
        <title>Vale Overseas Ltd.</title>
        <cusip>91911TAS2</cusip>
        <identifiers>
          <isin value="US91911TAS24"/>
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        <balance>114000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116881.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
        <title>Merrill Lynch Mortgage Investors Trust, Series 2006-HE4, Class A2C</title>
        <cusip>59023EAD0</cusip>
        <identifiers>
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      <invstOrSec>
        <name>Republic Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GGAM Finance Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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        <name>Magnetite XXIII Ltd.</name>
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        <name>Yinson Bergenia Production BV</name>
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        <name>Voya CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-14</maturityDt>
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        <name>Progress Residential Trust</name>
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        <balance>1131968.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1135963.81000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45100000</annualizedRt>
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      <invstOrSec>
        <name>Blackbird Capital II Aircraft Lease Ltd.</name>
        <lei>N/A</lei>
        <title>Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B</title>
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        <curCd>USD</curCd>
        <valUSD>1245827.30000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Canyon Capital CLO Ltd.</name>
        <lei>N/A</lei>
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        <name>Millicom International Cellular SA</name>
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        <title>Millicom International Cellular SA</title>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
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          <maturityDt>2030-04-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>CRH SMW Finance DAC</name>
        <lei>54930044475SH442C864</lei>
        <title>CRH SMW Finance DAC</title>
        <cusip>12704PAB4</cusip>
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        <balance>370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>380445.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-09</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4076, Class QD</title>
        <cusip>3137ASFL3</cusip>
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        <curCd>USD</curCd>
        <valUSD>49631.45000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807CM2</cusip>
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          <isin value="US666807CM21"/>
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        <balance>295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279249.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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        <name>Aircastle Ltd.</name>
        <lei>N/A</lei>
        <title>Aircastle Ltd.</title>
        <cusip>00929JAB2</cusip>
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          <isin value="US00929JAB26"/>
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        <balance>284000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Transelec SA</name>
        <lei>549300DPF7MAL5F6CR86</lei>
        <title>Transelec SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP9339SAS34"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>489820.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140W1HW6</cusip>
        <identifiers>
          <isin value="US3140W1HW61"/>
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        <balance>1647506.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1704370.58000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RALI Trust</name>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Braskem Idesa SAPI</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3140XHG505"/>
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      <invstOrSec>
        <name>Vamos Europe SA</name>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Upland CLO Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-20</maturityDt>
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      <invstOrSec>
        <name>Element Fleet Management Corp.</name>
        <lei>5493000PGBS1C22ELQ16</lei>
        <title>Element Fleet Management Corp.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-04</maturityDt>
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      <invstOrSec>
        <name>Adani Ports &amp; Special Economic Zone Ltd.</name>
        <lei>335800QOAXP5TM7OYP69</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Guara Norte Sarl</name>
        <lei>549300U2I4L03BBA3485</lei>
        <title>Guara Norte Sarl</title>
        <cusip>N/A</cusip>
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        <balance>153658.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-15</maturityDt>
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        <name>McGraw-Hill Education, Inc.</name>
        <lei>254900U6YJ9QZ4IQOR26</lei>
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        <name>ACE Securities Corp. Home Equity Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>004422AF8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140XMQ58</cusip>
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        <name>Nabors Industries, Inc.</name>
        <lei>549300VFQWRKICUFNU92</lei>
        <title>Nabors Industries, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>9.12500000</annualizedRt>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>081934AR2</cusip>
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      <invstOrSec>
        <name>Radiology Partners, Inc.</name>
        <lei>549300SFTAG2177WUZ08</lei>
        <title>Radiology Partners, Inc.</title>
        <cusip>75041VAE4</cusip>
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        <balance>175000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPCD3</cusip>
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        <balance>140000.00000000</balance>
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        <valUSD>134171.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rockland Park CLO Ltd.</name>
        <lei>N/A</lei>
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        <name>InRetail Shopping Malls</name>
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        <name>BANK5</name>
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        <name>Dryden 41 Senior Loan Fund</name>
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        <name>Sunoco LP</name>
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        <name>Compass Datacenters Issuer II LLC</name>
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        <name>Amrize Finance US LLC</name>
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      <invstOrSec>
        <name>Reliance Industries Ltd.</name>
        <lei>5493003UOETFYRONLG31</lei>
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          <isin value="USY72570AN72"/>
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        <name>FHLMC Pool</name>
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        <name>Rutas 2 &amp; 7 Finance Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AngloGold Ashanti Holdings plc</name>
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        <invCountry>IM</invCountry>

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        <name>Voyager Parent LLC</name>
        <lei>2549002DYVI4ACSV4V71</lei>
        <title>Voyager Parent LLC</title>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
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        <name>Chile Electricity Lux MPC Sarl</name>
        <lei>N/A</lei>
        <title>Chile Electricity Lux MPC Sarl</title>
        <cusip>N/A</cusip>
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        <balance>179000.00000000</balance>
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        <valUSD>187055.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CCL Industries, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CitiMortgage Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-02-25</maturityDt>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Unigel Luxembourg SA</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc., Series GG</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chord Energy Corp.</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
        <title>Chord Energy Corp.</title>
        <cusip>674215AQ1</cusip>
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          <isin value="US674215AQ11"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Brookfield Asset Management Ltd.</name>
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        <title>Brookfield Asset Management Ltd.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trans-Allegheny Interstate Line Co.</name>
        <lei>N/A</lei>
        <title>Trans-Allegheny Interstate Line Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Dornoch Debt Merger Sub, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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      <invstOrSec>
        <name>FMC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>FMC GMSR Issuer Trust, Series 2020-GT1, Class A</title>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>EQUATE Petrochemical Co. KSC</name>
        <lei>635400J73BDO4TTGXD45</lei>
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        <invCountry>KW</invCountry>
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        <name>Florida Gas Transmission Co. LLC</name>
        <lei>549300Q0UQF87NXNOC32</lei>
        <title>Florida Gas Transmission Co. LLC</title>
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        <name>BAMLL Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Commercial Mortgage Securities Trust, Series 2016-ISQ, Class C</title>
        <cusip>05523GAJ0</cusip>
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        <name>Bain Capital Credit CLO Ltd.</name>
        <lei>N/A</lei>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2020-C6, Class F5TC</title>
        <cusip>05492TBK5</cusip>
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          <isin value="US05492TBK51"/>
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        <balance>644000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-02-15</maturityDt>
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        <name>Waste Connections, Inc.</name>
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        <name>THL Credit Wind River CLO Ltd.</name>
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        <name>Exelon Corp.</name>
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        <name>SK Hynix, Inc.</name>
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        <name>Athene Global Funding</name>
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        <name>Comision Federal de Electricidad</name>
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        <name>Celanese US Holdings LLC</name>
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          <maturityDt>2030-04-15</maturityDt>
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        <name>Cornerstone Building Brands, Inc.</name>
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        <name>NXP BV</name>
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        <name>WESCO Distribution, Inc.</name>
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        <name>FHLMC</name>
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        <name>Windstream Services LLC</name>
        <lei>549300KT9GVEBYCD2N29</lei>
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        <name>Lamar Media Corp.</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Genesee &amp; Wyoming, Inc.</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>BBCMS Mortgage Trust</name>
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        <name>Bunge Ltd. Finance Corp.</name>
        <lei>549300QHC068L40NNM71</lei>
        <title>Bunge Ltd. Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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          <isin value="US3132DWNH24"/>
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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>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Windstream Services LLC</name>
        <lei>N/A</lei>
        <title>Windstream Services LLC</title>
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          <isin value="US97381AAA07"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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          <annualizedRt>8.25000000</annualizedRt>
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      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
        <title>Kodiak Gas Services LLC</title>
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          <isin value="US50012LAC81"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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          <isin value="US83368RCK68"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-03</maturityDt>
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      <invstOrSec>
        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
        <cusip>620076CB3</cusip>
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          <isin value="US620076CB33"/>
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        <balance>241000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Element Fleet Management Corp.</name>
        <lei>5493000PGBS1C22ELQ16</lei>
        <title>Element Fleet Management Corp.</title>
        <cusip>286181AP7</cusip>
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          <isin value="US286181AP72"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.03700000</annualizedRt>
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      <invstOrSec>
        <name>PRPM</name>
        <lei>N/A</lei>
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        <cusip>74449DAA3</cusip>
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          <isin value="US74449DAA37"/>
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        <balance>931672.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>933810.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-25</maturityDt>
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          <annualizedRt>6.25500000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Public Service Co.</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>Arizona Public Service Co.</title>
        <cusip>040555DJ0</cusip>
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          <isin value="US040555DJ01"/>
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        <balance>593000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967QF1</cusip>
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        <balance>178000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50299880</annualizedRt>
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      <invstOrSec>
        <name>Freeport-McMoRan, Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan, Inc.</title>
        <cusip>35671DCG8</cusip>
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          <isin value="US35671DCG88"/>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <name>Panther Escrow Issuer LLC</name>
        <lei>N/A</lei>
        <title>Panther Escrow Issuer LLC</title>
        <cusip>69867RAA5</cusip>
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          <isin value="US69867RAA59"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <name>Wellfleet CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Wellfleet CLO Ltd., Series 2022-1A, Class A1RN</title>
        <cusip>94950TAQ2</cusip>
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        <balance>500000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-15</maturityDt>
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        <name>Dominican Republic Government Bond</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP3579ECF27"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>146850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2016-P4, Class XA</title>
        <cusip>29429EAF8</cusip>
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          <isin value="US29429EAF88"/>
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        <balance>648864.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4147.41000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.04368040</annualizedRt>
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      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>13607PVQ4</cusip>
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          <isin value="US13607PVQ44"/>
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        <balance>298000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>307389.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.24500000</annualizedRt>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP</title>
        <cusip>18060TAE5</cusip>
        <identifiers>
          <isin value="US18060TAE55"/>
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        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>229965.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PEY88"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QXO Building Products, Inc.</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>QXO Building Products, Inc.</title>
        <cusip>74825NAA5</cusip>
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          <isin value="US74825NAA54"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72536.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-30</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class XA</title>
        <cusip>95000AAX5</cusip>
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          <isin value="US95000AAX54"/>
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        <balance>259431.67000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-12-15</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31418EGT10"/>
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        <balance>1492574.66000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2015-CR26, Class XA</title>
        <cusip>12593QBF6</cusip>
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          <isin value="US12593QBF63"/>
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        <balance>107659.36670000</balance>
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        <valUSD>1.25000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-10</maturityDt>
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          <annualizedRt>0.87274080</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CommScope LLC</name>
        <lei>549300Z6K4JXMFE8QY54</lei>
        <title>CommScope LLC</title>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82800.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A3X7</cusip>
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          <isin value="US04685A3X78"/>
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        <balance>241000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vertiv Group Corp.</name>
        <lei>549300ZT8RQ5VK10E643</lei>
        <title>Vertiv Group Corp.</title>
        <cusip>92535UAB0</cusip>
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        <balance>153000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2021-C12, Class A5</title>
        <cusip>05552XBG2</cusip>
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          <isin value="US05552XBG25"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2025-SFR4, Class A</title>
        <cusip>74290JAA0</cusip>
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          <isin value="US74290JAA07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class C</title>
        <cusip>94989WAZ0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Unigel Luxembourg SA</name>
        <lei>213800Y16R77O7LH7X62</lei>
        <title>Unigel Luxembourg SA</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>31056.00000000</balance>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>13.50000000</annualizedRt>
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      <invstOrSec>
        <name>BSPRT Issuer Ltd.</name>
        <lei>N/A</lei>
        <title>BSPRT Issuer Ltd., Series 2023-FL10, Class B</title>
        <cusip>05610VAE2</cusip>
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          <isin value="US05610VAE20"/>
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        <balance>530000.00000000</balance>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>N/A</lei>
        <title>OBX Trust, Series 2023-NQM4, Class A1</title>
        <cusip>67448GAA1</cusip>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2022-BNK39, Class AS</title>
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          <isin value="US06539VAR96"/>
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        <balance>530000.00000000</balance>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
        <cusip>279158AP4</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>134445.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DVMQ5</cusip>
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        <balance>1477747.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1513536.78000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Retained Vantage Data Centers Issuer LLC</name>
        <lei>254900N4NW6XZ9B4HM15</lei>
        <title>Retained Vantage Data Centers Issuer LLC, Series 2023-1A, Class B</title>
        <cusip>76134KAC8</cusip>
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        <balance>1500000.00000000</balance>
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        <name>Level 3 Financing, Inc.</name>
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        <name>Kinder Morgan Energy Partners LP</name>
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        <name>Cathedral Lake VIII Ltd.</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Builders FirstSource, Inc.</name>
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        <name>Republic of Guatemala</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Generate CLO 13 Ltd.</name>
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        <name>Virginia Electric and Power Co.</name>
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        <name>Guardian Life Global Funding</name>
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        <name>AbbVie, Inc.</name>
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        <name>OFSI BSL XI Ltd.</name>
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        <name>Elevance Health, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
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        <name>Archrock Partners LP</name>
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        <name>Corp. Nacional del Cobre de Chile</name>
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        <invCountry>CL</invCountry>
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        <name>Progress Residential Trust</name>
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      <invstOrSec>
        <name>Saavi Energia Sarl</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Full House Resorts, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GoodLeap Home Improvement Solutions Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Asset-Backed Certificates Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-25</maturityDt>
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        <name>GNMA</name>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>CAP SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GATX Corp.</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Novelis Corp.</name>
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        <title>Novelis Corp.</title>
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        <name>NiSource, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>American Airlines, Inc.</name>
        <lei>IWUQB36BXD6OWD6X4T14</lei>
        <title>American Airlines, Inc.</title>
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        <name>Wayfair LLC</name>
        <lei>549300CTUWTZGOXMYI40</lei>
        <title>Wayfair LLC</title>
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      <invstOrSec>
        <name>Bioceanico Sovereign Certificate Ltd.</name>
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        <title>Bioceanico Sovereign Certificate Ltd.</title>
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      <invstOrSec>
        <name>Carlyle Global Market Strategies CLO Ltd.</name>
        <lei>5493000C19IMTVUCMB96</lei>
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        <name>Ultrapar International SA</name>
        <lei>222100CXHWBP3H3SK244</lei>
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        <name>COLT Mortgage Loan Trust</name>
        <lei>213800IHRVKO9R6JZ883</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2068-07-25</maturityDt>
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      <invstOrSec>
        <name>Magnetite XLII Ltd.</name>
        <lei>5299008QF7XUGQ5EZC63</lei>
        <title>Magnetite XLII Ltd., Series 2024-42A, Class D1</title>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Banco Nacional de Comercio Exterior SNC</name>
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        <name>ONGC Videsh Vankorneft Pte. Ltd.</name>
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      <invstOrSec>
        <name>Kinetik Holdings LP</name>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Westinghouse Air Brake Technologies Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-29</maturityDt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
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        <name>Targa Resources Corp.</name>
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        <name>UBS Commercial Mortgage Trust</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>Rivers Enterprise Lender LLC</name>
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        <name>Campbell's Co. (The)</name>
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        <name>Gilead Sciences, Inc.</name>
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        <name>Fenix Power Peru SA</name>
        <lei>549300VBTI7WLU4G4642</lei>
        <title>Fenix Power Peru SA</title>
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        <name>Unigel Luxembourg SA</name>
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        <name>Interoceanica IV Finance Ltd.</name>
        <lei>5493001ZIZ6W7IU0RP65</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Venture Global Plaquemines LNG LLC</name>
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        <name>Azorra Finance Ltd.</name>
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        <name>Alternative Loan Trust</name>
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        <name>Citigroup, Inc.</name>
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        <name>Mosaic Solar Loan Trust</name>
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        <name>FHLMC Pool</name>
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        <name>Expedia Group, Inc.</name>
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        <name>NiSource, Inc.</name>
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        <name>FNMA</name>
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        <name>VeriSign, Inc.</name>
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        <name>McDonald's Corp.</name>
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        <name>Vistra Operations Co. LLC</name>
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        <name>Tierra Mojada Luxembourg II Sarl</name>
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        <title>Tierra Mojada Luxembourg II Sarl</title>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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        <name>Ameren Corp.</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>Ameren Corp.</title>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>AREIT Ltd.</name>
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        <name>Owens Corning</name>
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        <name>MF1 Ltd.</name>
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        <name>Velocity Commercial Capital Loan Trust</name>
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        <name>GE Aerospace</name>
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        <name>Petrobras Global Finance BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bell Canada</name>
        <lei>5493000G3EFX9S7TDE29</lei>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JBS USA Holding Lux Sarl</name>
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        <title>JBS USA Holding Lux Sarl</title>
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        <invCountry>LU</invCountry>

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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <name>Verisk Analytics, Inc.</name>
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        <title>Verisk Analytics, Inc.</title>
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        <name>Duquesne Light Holdings, Inc.</name>
        <lei>4CUJ1D8WDXK9X7QI6B93</lei>
        <title>Duquesne Light Holdings, Inc.</title>
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      <invstOrSec>
        <name>Black Hills Corp.</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
        <title>Black Hills Corp.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Marvell Technology, Inc.</name>
        <lei>N/A</lei>
        <title>Marvell Technology, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-15</maturityDt>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
        <cusip>3132DQB47</cusip>
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          <isin value="US3132DQB472"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>Genuine Parts Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
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        <title>BAT Capital Corp.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital I Trust</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>Sound Point CLO XXVI Ltd.</name>
        <lei>N/A</lei>
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        <name>CLI Funding VIII LLC</name>
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        <name>JSW Hydro Energy Ltd.</name>
        <lei>3358006ZP5KO7VUH2790</lei>
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        <name>WR Grace Holdings LLC</name>
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        <name>AES Espana BV</name>
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        <invCountry>NL</invCountry>

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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DSYQ9</cusip>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
        <cusip>337738BL1</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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      <invstOrSec>
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        <name>Arrow Electronics, Inc.</name>
        <lei>549300YNNLBXT8N8R512</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Husky Injection Molding Systems Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Octagon 53 Ltd.</name>
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        <name>Univision Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Electric and Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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        <name>Qnity Electronics, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nationwide Building Society</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-14</maturityDt>
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          <annualizedRt>5.53700160</annualizedRt>
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        <name>BANK</name>
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        <balance>343000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.28500000</annualizedRt>
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      <invstOrSec>
        <name>Octagon Investment Partners 34 Ltd.</name>
        <lei>N/A</lei>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-20</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
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        <cusip>59156RCQ9</cusip>
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        <curCd>USD</curCd>
        <valUSD>269048.97000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
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        <name>Mosaic Solar Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>61945LAB9</cusip>
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        <balance>149187.40000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-20</maturityDt>
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          <annualizedRt>3.28000000</annualizedRt>
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        <name>Veralto Corp.</name>
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        <title>Veralto Corp.</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.35000000</annualizedRt>
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        <name>Lima Metro Line 2 Finance Ltd.</name>
        <lei>5493009BVQNQT1UKQ352</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-05</maturityDt>
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          <annualizedRt>4.35000000</annualizedRt>
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        <name>Netflix, Inc.</name>
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        <title>Netflix, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-15</maturityDt>
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          <annualizedRt>5.40000000</annualizedRt>
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        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
        <title>Velocity Commercial Capital Loan Trust, Series 2019-1, Class M2</title>
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        <curCd>USD</curCd>
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          <annualizedRt>4.01000040</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <issuerCat>USGA</issuerCat>
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        <name>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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        <balance>297000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2027-08-15</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ITC Holdings Corp.</name>
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        <title>ITC Holdings Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vital Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Staples, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bausch Health Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Adani International Container Terminal Pvt Ltd.</name>
        <lei>335800J4SLERP6S94P28</lei>
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          <isin value="XS2267100514"/>
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        <balance>480000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SLG Office Trust</name>
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          <isin value="US78449RAL96"/>
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        <balance>380000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gold Fields Orogen Holdings BVI Ltd.</name>
        <lei>213800CLGJ2E9KGU2F20</lei>
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          <isin value="XS1993965950"/>
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        <invCountry>VG</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>2138005NRONUFED1TZ38</lei>
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          <isin value="US92540MAD74"/>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2019-C50, Class C</title>
        <cusip>95001XBE5</cusip>
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          <isin value="US95001XBE58"/>
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        <name>Wand NewCo 3, Inc.</name>
        <lei>549300Y3VZEWMSQW8494</lei>
        <title>Wand NewCo 3, Inc.</title>
        <cusip>933940AA6</cusip>
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          <isin value="US933940AA60"/>
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        <name>Dominican Republic Government Bond</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP3579ECP09"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-22</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc.</title>
        <cusip>30303M8J4</cusip>
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        <balance>320000.00000000</balance>
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      <invstOrSec>
        <name>Foundry JV Holdco LLC</name>
        <lei>21380048QROAMGM6EP30</lei>
        <title>Foundry JV Holdco LLC</title>
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        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2024-SFR5, Class C</title>
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        <name>Prumo Participacoes e Investimentos S/A</name>
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        <title>Prumo Participacoes e Investimentos S/A</title>
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        <invCountry>BR</invCountry>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lima Metro Line 2 Finance Ltd.</name>
        <lei>5493009BVQNQT1UKQ352</lei>
        <title>Lima Metro Line 2 Finance Ltd.</title>
        <cusip>N/A</cusip>
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        <balance>311593.75960000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MBK0</cusip>
        <identifiers>
          <isin value="US00774MBK09"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>322853.47000000</valUSD>
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        <name>JPMorgan Chase &amp; Co.</name>
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      <invstOrSec>
        <name>Veralto Corp.</name>
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        <name>United States of America</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>Hess Midstream Operations LP</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>Lstar Commercial Mortgage Trust</name>
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        <name>Directv Financing LLC</name>
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        <name>Southern Power Co.</name>
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        <name>Fremont Home Loan Trust</name>
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        <name>DoubleLine Global Bond Fund</name>
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        <name>Warnermedia Holdings, Inc.</name>
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        <name>InRetail Consumer</name>
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        <name>FNMA</name>
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        <name>THL Credit Wind River CLO Ltd.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
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        <name>Alternative Loan Trust</name>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Warwick Capital CLO 1 Ltd.</name>
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      <invstOrSec>
        <name>CFCRE Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US12532ABB44"/>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05494NAD30"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>Sealed Air Corp.</name>
        <lei>N/A</lei>
        <title>Sealed Air Corp.</title>
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          <isin value="US812127AB45"/>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>549300UFJ8EKD81Y8R30</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2015-C1, Class XA</title>
        <cusip>126281BB9</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
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        <title>Uber Technologies, Inc.</title>
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        <name>AerCap Ireland Capital DAC</name>
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        <title>AerCap Ireland Capital DAC</title>
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      <invstOrSec>
        <name>Whirlpool Corp.</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp.</title>
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        <name>Storm King Park CLO Ltd.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Foundry JV Holdco LLC</name>
        <lei>21380048QROAMGM6EP30</lei>
        <title>Foundry JV Holdco LLC</title>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Standard Building Solutions, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Building Solutions, Inc.</title>
        <cusip>853191AA2</cusip>
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        <balance>95000.00000000</balance>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
        <title>Celanese US Holdings LLC</title>
        <cusip>15089QBA1</cusip>
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        <balance>45000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Sound Point CLO XX Ltd.</name>
        <lei>549300RTEBF0FW35D815</lei>
        <title>Sound Point CLO XX Ltd., Series 2018-2A, Class C</title>
        <cusip>83611JAE5</cusip>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500087.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Homes 4 Rent LP</name>
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        <title>American Homes 4 Rent LP</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
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      <invstOrSec>
        <name>Quest Diagnostics, Inc.</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-15</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
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      <invstOrSec>
        <name>Adani Electricity Mumbai Ltd.</name>
        <lei>335800AIC1B5EBFVUC38</lei>
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          <isin value="XS2109438205"/>
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        <curCd>USD</curCd>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Light &amp; Wonder International, Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Goodgreen Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-04-15</maturityDt>
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          <annualizedRt>2.63000000</annualizedRt>
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        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Madison Park Funding LXIII Ltd.</name>
        <lei>N/A</lei>
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        <balance>500000.00000000</balance>
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        <invCountry>KY</invCountry>
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        <name>Clarios Global LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Directv Financing LLC</name>
        <lei>N/A</lei>
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        <name>JPMDB Commercial Mortgage Securities Trust</name>
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        <name>Aligned Data Centers Issuer LLC</name>
        <lei>N/A</lei>
        <title>Aligned Data Centers Issuer LLC, Series 2021-1A, Class A2</title>
        <cusip>01627AAA6</cusip>
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        <name>Sabra Health Care LP</name>
        <lei>549300OVKLRFSIQG0H81</lei>
        <title>Sabra Health Care LP</title>
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        <balance>145000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-12-01</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
        <cusip>195325DT9</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <balance>158742.04000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>MACH 1 Cayman Ltd.</name>
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        <name>Sapphire Aviation Finance II Ltd.</name>
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        <name>Sabre GLBL, Inc.</name>
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        <name>LCM 28 Ltd.</name>
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        <name>Travelers Cos., Inc. (The)</name>
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        <name>Fideicomiso PA Pacifico Tres</name>
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        <name>FHLMC</name>
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        <name>Takeda US Financing, Inc.</name>
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        <name>MidOcean Credit CLO III</name>
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        <name>Extra Space Storage LP</name>
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        <name>AppLovin Corp.</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>AppLovin Corp.</title>
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        <name>JP MORGAN PRIME VAR 12/50</name>
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        <title>JPMorgan Prime Money Market Fund, IM Shares</title>
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        <invCountry>US</invCountry>
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        <name>Sun Communities Operating LP</name>
        <lei>549300PUNBPJCGT6X741</lei>
        <title>Sun Communities Operating LP</title>
        <cusip>866677AE7</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Olin Corp.</name>
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        <name>Emirates Semb Corp. Water &amp; Power Co. PJSC</name>
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        <name>GNMA</name>
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        <name>Banco Nacional de Comercio Exterior SNC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Verizon Communications, Inc.</name>
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        <name>Workday, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK5 Trust</name>
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        <name>Fermaca Enterprises S de RL de CV</name>
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        <name>Niagara Mohawk Power Corp.</name>
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        <name>CNX Resources Corp.</name>
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        <name>RFMSI Trust</name>
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        <name>Prudential Financial, Inc.</name>
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        <name>Minsur SA</name>
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        <name>Southern Natural Gas Co. LLC</name>
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        <name>Acrisure LLC</name>
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        <name>Freeport-McMoRan, Inc.</name>
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        <name>Republic of Guatemala</name>
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        <name>Molex Electronic Technologies LLC</name>
        <lei>549300WTBVUFUPSIWI20</lei>
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        <name>Adani Renewable Energy RJ Ltd.</name>
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        <name>Northrop Grumman Corp.</name>
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        <name>Intercorp Financial Services, Inc.</name>
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        <name>MF1 LLC</name>
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        <name>Perusahaan Listrik Negara PT</name>
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        <name>Cosan Overseas Ltd.</name>
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        <name>Dealer Tire LLC</name>
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        <name>Canyon Capital CLO Ltd.</name>
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        <name>Builders FirstSource, Inc.</name>
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        <name>Minerva Luxembourg SA</name>
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        <name>Tricon Residential Trust</name>
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        <name>Matador Resources Co.</name>
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        <name>Carlyle US CLO</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Griffon Corp.</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
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        <name>Ellucian Holdings, Inc.</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Weatherford International Ltd.</name>
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        <name>NJ Trust</name>
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        <name>Unigel Luxembourg SA</name>
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        <name>SURA Asset Management SA</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>Banc of America Funding Trust</name>
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        <name>United Mexican States</name>
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        <name>BPRL International Singapore Pte. Ltd.</name>
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        <name>Wipro IT Services LLC</name>
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        <name>DT Midstream, Inc.</name>
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        <name>Unigel Luxembourg SA</name>
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        <name>Neighborly Issuer LLC</name>
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        <name>USQ Rail II LLC</name>
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        <name>Garda World Security Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
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      <invstOrSec>
        <name>Movida Europe SA</name>
        <lei>549300YRJE0V6QKU7C86</lei>
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      <invstOrSec>
        <name>Dell, Inc.</name>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>Weatherford International Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>DataBank Issuer</name>
        <lei>N/A</lei>
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          <isin value="US23802WAA99"/>
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      <invstOrSec>
        <name>GreenPoint Mortgage Funding Trust</name>
        <lei>N/A</lei>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Kingdom of Morocco</name>
        <lei>529900F3MBW9XY5K1X07</lei>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
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        <name>BANK</name>
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      <invstOrSec>
        <name>THL Credit Wind River CLO Ltd.</name>
        <lei>N/A</lei>
        <title>THL Credit Wind River CLO Ltd., Series 2018-1A, Class D</title>
        <cusip>88432VAJ3</cusip>
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        <balance>500000.00000000</balance>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
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      <invstOrSec>
        <name>Bridge Street CLO II Ltd.</name>
        <lei>N/A</lei>
        <title>Bridge Street CLO II Ltd., Series 2021-1A, Class A1A</title>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>71654QCC4</cusip>
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        <valUSD>82740.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-21</maturityDt>
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        <name>Venture Global LNG, Inc.</name>
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      <invstOrSec>
        <name>GNL Quintero SA</name>
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        <name>Republic of Guatemala</name>
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        <name>BBCMS Mortgage Trust</name>
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          <isin value="US05552XAA63"/>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aligned Data Centers Issuer LLC</name>
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        <name>Imperial Fund Mortgage Trust</name>
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        <name>Athene Holding Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Alternative Loan Trust</name>
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        <name>EMRLD Borrower LP</name>
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        <name>Michaels Cos., Inc. (The)</name>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <name>ABFC Trust</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>American Tower Corp.</name>
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        <name>Kroger Co. (The)</name>
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        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>Adani Electricity Mumbai Ltd.</name>
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        <name>CMS Energy Corp.</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Warnermedia Holdings, Inc.</name>
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        <name>Gulfport Energy Operating Corp.</name>
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        <name>VT Topco, Inc.</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
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        <name>Generate CLO 12 Ltd.</name>
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        <name>FHLMC Pool</name>
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        <name>Goat Holdco LLC</name>
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        <name>United Mexican States</name>
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        <name>Banc of America Mortgage Trust</name>
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        <name>Quanta Services, Inc.</name>
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        <name>Royalty Pharma plc</name>
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        <name>Anywhere Real Estate Group LLC</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
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        <name>Hexcel Corp.</name>
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        <name>Gray Media, Inc.</name>
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        <name>First Industrial LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DoubleLine Emerging Markets Local Currency Bond Fund</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JOL Air Ltd.</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <name>Banc of America Funding Trust</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
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        <name>Rivers Enterprise Borrower LLC</name>
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      <invstOrSec>
        <name>Carnival Corp.</name>
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        <title>Carnival Corp.</title>
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        <name>Videotron Ltd.</name>
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        <title>Videotron Ltd.</title>
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        <name>HUB International Ltd.</name>
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        <name>EchoStar Corp.</name>
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        <name>UBS Commercial Mortgage Trust</name>
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        <name>NiSource, Inc.</name>
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        <name>TELUS Corp.</name>
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        <title>TELUS Corp.</title>
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        <name>Benchmark Mortgage Trust</name>
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        <name>UKG, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>N/A</lei>
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        <name>FHLMC Pool</name>
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        <name>IQVIA, Inc.</name>
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        <name>Adani Ports &amp; Special Economic Zone Ltd.</name>
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        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US09660QAW42"/>
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        <name>BAT Capital Corp.</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>CFCRE Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US12532CBC82"/>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
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        <name>Kingdom of Morocco</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>INVESCO GOVT AND AGCY LEX</name>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>LCCM</name>
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        <name>Essential Properties LP</name>
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        <name>PennyMac Financial Services, Inc.</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PennyMac Financial Services, Inc.</title>
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        <name>Upstart Securitization Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chord Energy Corp.</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kestrel Aircraft Funding Ltd.</name>
        <lei>N/A</lei>
        <title>Kestrel Aircraft Funding Ltd., Series 2018-1A, Class A</title>
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        <curCd>USD</curCd>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-15</maturityDt>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>295222.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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          <annualizedRt>3.15000000</annualizedRt>
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        <name>Sempra</name>
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        <title>Sempra</title>
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          <isin value="US816851BR98"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>517110.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Raizen Fuels Finance SA</name>
        <lei>52990010NH26VC32Q522</lei>
        <title>Raizen Fuels Finance SA</title>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>366000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-17</maturityDt>
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          <annualizedRt>5.70000000</annualizedRt>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>195687.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-20</maturityDt>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
        <cusip>279158AJ8</cusip>
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          <isin value="US279158AJ82"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76480.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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        <balance>284000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Goldentree Loan Management US CLO Ltd.</name>
        <lei>549300TS068SCJRDSP12</lei>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Victra Holdings LLC</name>
        <lei>N/A</lei>
        <title>Victra Holdings LLC</title>
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        <name>Renesas Electronics Corp.</name>
        <lei>5299000EPC47VJQOFB81</lei>
        <title>Renesas Electronics Corp.</title>
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        <invCountry>JP</invCountry>
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        <name>Banco Industrial SA</name>
        <lei>529900GF99QF67JEQU85</lei>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-04-01</maturityDt>
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        <name>JSW Hydro Energy Ltd.</name>
        <lei>3358006ZP5KO7VUH2790</lei>
        <title>JSW Hydro Energy Ltd.</title>
        <cusip>46653YAA6</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>VEGAS Trust</name>
        <lei>N/A</lei>
        <title>VEGAS Trust, Series 2024-TI, Class A</title>
        <cusip>92254AAA5</cusip>
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        <balance>181000.00000000</balance>
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        <valUSD>183716.34000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-10</maturityDt>
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          <annualizedRt>5.51830000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>Clydesdale Acquisition Holdings, Inc.</title>
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        <name>Digicel Group Holdings Ltd.</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Carnival Corp.</name>
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        <name>FNMA</name>
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        <name>American Tower Corp.</name>
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      <invstOrSec>
        <name>Chile Electricity PEC SpA</name>
        <lei>N/A</lei>
        <title>Chile Electricity PEC SpA</title>
        <cusip>168831AA3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Digital Realty Trust LP</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>Digital Realty Trust LP</title>
        <cusip>25389JAR7</cusip>
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          <isin value="US25389JAR77"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>744086.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2022-B32, Class AS</title>
        <cusip>08163NBN4</cusip>
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          <isin value="US08163NBN49"/>
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        <balance>530000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc.</title>
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          <isin value="US18453HAD89"/>
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        <balance>70000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cougar JV Subsidiary LLC</name>
        <lei>N/A</lei>
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          <isin value="US22208WAA18"/>
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        <curCd>USD</curCd>
        <valUSD>106375.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>American Axle &amp; Manufacturing, Inc.</title>
        <cusip>02406PBC3</cusip>
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          <isin value="US02406PBC32"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Canacol Energy Ltd.</name>
        <lei>549300X5MNRWPMSM9N14</lei>
        <title>Canacol Energy Ltd.</title>
        <cusip>N/A</cusip>
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        <balance>400000.00000000</balance>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-24</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2024-V10, Class A3</title>
        <cusip>08163UAC3</cusip>
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          <isin value="US08163UAC36"/>
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        <balance>530000.00000000</balance>
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      <invstOrSec>
        <name>MasTec, Inc.</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MasTec, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>Galaxy Pipeline Assets Bidco Ltd.</name>
        <lei>549300L82YB0C6JQIC26</lei>
        <title>Galaxy Pipeline Assets Bidco Ltd.</title>
        <cusip>N/A</cusip>
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        <balance>176648.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-30</maturityDt>
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          <annualizedRt>2.94000000</annualizedRt>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAU5</cusip>
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        <balance>258000.00000000</balance>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2021-C9, Class A5</title>
        <cusip>05493EAY8</cusip>
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          <isin value="US05493EAY86"/>
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        <balance>668000.00000000</balance>
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      <invstOrSec>
        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
        <lei>N/A</lei>
        <title>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP0R12RAA88"/>
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        <balance>198101.48000000</balance>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAQ5</cusip>
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          <isin value="US89788MAQ50"/>
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        <balance>128000.00000000</balance>
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        <valUSD>138646.23000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-10-30</maturityDt>
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      <invstOrSec>
        <name>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc.</title>
        <cusip>98138HAH4</cusip>
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        <balance>270000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441CBU8</cusip>
        <identifiers>
          <isin value="US26441CBU80"/>
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        <balance>99000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>88745.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TAL Advantage VII LLC</name>
        <lei>N/A</lei>
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        <name>Gray Media, Inc.</name>
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        <name>Mavis Tire Express Services Topco Corp.</name>
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        <name>Huntington Bancshares, Inc.</name>
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        <name>DISH DBS Corp.</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>VICI Properties LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Flowers Foods, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hewlett Packard Enterprise Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
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          <isin value="US05974EAA82"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
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        <name>NP SPE II LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Miter Brands Acquisition Holdco, Inc.</name>
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        <name>Laboratory Corp. of America Holdings</name>
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        <name>Enel Finance International NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>Rio Tinto Finance USA plc</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>Southern Co. (The)</name>
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        <name>Dryden 43 Senior Loan Fund</name>
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        <name>Trestles CLO VI Ltd.</name>
        <lei>254900837GHK5VH7YU15</lei>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ADN2</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Crown Point CLO IV Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US22845XAJ90"/>
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        <curCd>USD</curCd>
        <valUSD>501015.50000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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          <isin value="US31418BQA79"/>
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        <balance>89649.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79376.67000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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          <isin value="US92332YAA91"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.12500000</annualizedRt>
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      <invstOrSec>
        <name>Sunrun Atlas Issuer LLC</name>
        <lei>N/A</lei>
        <title>Sunrun Atlas Issuer LLC, Series 2019-2, Class A</title>
        <cusip>86772FAA9</cusip>
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          <isin value="US86772FAA93"/>
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        <balance>408334.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>390557.95000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.61000000</annualizedRt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ACU9</cusip>
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          <isin value="US44891ACU97"/>
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        <balance>559000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>572615.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Intuit, Inc.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc.</title>
        <cusip>46124HAH9</cusip>
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          <isin value="US46124HAH93"/>
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        <balance>253000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>254351.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Digicel Group Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>Digicel Group Holdings Ltd., Series 2B14</title>
        <cusip>25381HAH1</cusip>
        <identifiers>
          <isin value="US25381HAH12"/>
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        <balance>14051.55000000</balance>
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        <curCd>USD</curCd>
        <valUSD>477.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2025-5C12, Class AS</title>
        <cusip>09663VAF7</cusip>
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          <isin value="US09663VAF76"/>
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        <balance>472000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55700000</annualizedRt>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2025-5C11, Class AS</title>
        <cusip>096941AF6</cusip>
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          <isin value="US096941AF60"/>
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        <balance>459000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.93830000</annualizedRt>
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      <invstOrSec>
        <name>Madison IAQ LLC</name>
        <lei>549300IXDNBXNHUPBU73</lei>
        <title>Madison IAQ LLC</title>
        <cusip>55760LAB3</cusip>
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          <isin value="US55760LAB36"/>
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        <balance>305000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301187.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Cheniere Energy Partners LP</name>
        <lei>5493005UEC8AZ34LDV29</lei>
        <title>Cheniere Energy Partners LP</title>
        <cusip>16411QAK7</cusip>
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        <balance>303000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wind River CLO Ltd.</name>
        <lei>254900ZK5ODN8CA7YX85</lei>
        <title>Wind River CLO Ltd., Series 2014-3A, Class DR2</title>
        <cusip>88432DBL7</cusip>
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          <isin value="US88432DBL73"/>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JetBlue Airways Corp.</name>
        <lei>N/A</lei>
        <title>JetBlue Airways Corp.</title>
        <cusip>476920AA1</cusip>
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          <isin value="US476920AA15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36176XUH0</cusip>
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          <isin value="US36176XUH06"/>
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        <balance>2512834.80000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Acu Petroleo Luxembourg Sarl</name>
        <lei>N/A</lei>
        <title>Acu Petroleo Luxembourg Sarl</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USL0R80QAA10"/>
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        <balance>221048.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224917.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2007-HY1, Class 2A1</title>
        <cusip>12544EAC1</cusip>
        <identifiers>
          <isin value="US12544EAC12"/>
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        <balance>46842.14000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41701.98000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.03762680</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ashtead Capital, Inc.</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, Inc.</title>
        <cusip>045054AQ6</cusip>
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          <isin value="US045054AQ67"/>
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        <balance>243000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250185.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <name>Trestles CLO VIII Ltd.</name>
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      <invstOrSec>
        <name>Gulfstream Natural Gas System LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sabre GLBL, Inc.</name>
        <lei>F2TJC7HPPHLHU1AQMP98</lei>
        <title>Sabre GLBL, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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        <name>BANK</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.20935680</annualizedRt>
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        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <balance>512726.49000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Stichting Administratiekantoor Unigel Creditors</name>
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        <title>Stichting Administratiekantoor Unigel Creditors</title>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
        <cusip>571903BW2</cusip>
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        <balance>294000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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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>NGL Energy Operating LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
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        <invCountry>US</invCountry>
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        <name>Mexico Generadora de Energia S de rl</name>
        <lei>635400GBINBYW1VUAD14</lei>
        <title>Mexico Generadora de Energia S de rl</title>
        <cusip>N/A</cusip>
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        <balance>548590.00000000</balance>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Sound Point CLO XXXII Ltd.</name>
        <lei>N/A</lei>
        <title>Sound Point CLO XXXII Ltd., Series 2021-4A, Class D</title>
        <cusip>83616AAQ2</cusip>
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        <invCountry>KY</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>Sonoco Products Co.</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
        <title>Sonoco Products Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.60000000</annualizedRt>
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        <name>CAP SA</name>
        <lei>54930079GPG23NTBB003</lei>
        <title>CAP SA</title>
        <cusip>13911YAA4</cusip>
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        <balance>400000.00000000</balance>
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        <valUSD>326812.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Aviation Capital Group LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>Aviation Capital Group LLC</title>
        <cusip>05369AAQ4</cusip>
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        <balance>218000.00000000</balance>
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        <name>Seaspan Corp.</name>
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        <name>Rentokil Terminix Funding LLC</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>CaixaBank SA</name>
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        <name>Athene Global Funding</name>
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        <name>Cantor Commercial Real Estate Lending</name>
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        <name>Interstate Power and Light Co.</name>
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        <name>CoreWeave, Inc.</name>
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        <name>Southern Co. (The)</name>
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        <name>Morgan Stanley</name>
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        <name>KREF Ltd.</name>
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        <name>DTE Energy Co.</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>UBS Group AG</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Cardinal Health, Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
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      <invstOrSec>
        <name>Option One Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMCC Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Carlisle Cos., Inc.</name>
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      <invstOrSec>
        <name>GNMA</name>
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        <title>GNMA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Mong Duong Finance Holdings BV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cometa Energia SA de CV</name>
        <lei>5493007L8UH7TYXKI505</lei>
        <title>Cometa Energia SA de CV</title>
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        <balance>151600.00000000</balance>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2025-5C6, Class C</title>
        <cusip>95004TAH5</cusip>
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        <balance>472000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
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        <name>Adani International Container Terminal Pvt. Ltd.</name>
        <lei>335800J4SLERP6S94P28</lei>
        <title>Adani International Container Terminal Pvt. Ltd.</title>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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        <name>Fertitta Entertainment LLC</name>
        <lei>N/A</lei>
        <title>Fertitta Entertainment LLC</title>
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        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2007-14, Class A18</title>
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        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Rocket Cos., Inc.</title>
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        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio LLC</title>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Figure Line of Credit Trust</name>
        <lei>N/A</lei>
        <title>Figure Line of Credit Trust, Series 2020-1, Class A</title>
        <cusip>302452AA5</cusip>
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        <balance>348551.46000000</balance>
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      <invstOrSec>
        <name>Cheniere Energy, Inc.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy, Inc.</title>
        <cusip>16411RAK5</cusip>
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        <name>Sound Point CLO XXIV</name>
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        <name>Smurfit Kappa Treasury ULC</name>
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        <name>Adani Transmission Step-One Ltd.</name>
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        <name>NetApp, Inc.</name>
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        <name>FNMA</name>
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        <name>APH Somerset Investor 2 LLC</name>
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        <name>Canyon CLO Ltd.</name>
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        <name>Alliant Energy Corp.</name>
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        <name>Kyndryl Holdings, Inc.</name>
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        <name>GE HealthCare Technologies, Inc.</name>
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        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
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          <annualizedRt>7.12500000</annualizedRt>
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        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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        <name>Uber Technologies, Inc.</name>
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        <title>Uber Technologies, Inc.</title>
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        <name>Penske Truck Leasing Co. LP</name>
        <lei>N/A</lei>
        <title>Penske Truck Leasing Co. LP</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AthenaHealth Group, Inc.</name>
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      <invstOrSec>
        <name>MF1</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Commonwealth Edison Co.</name>
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      <invstOrSec>
        <name>BANK</name>
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      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
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      <invstOrSec>
        <name>Triton Container Finance VIII LLC</name>
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      <invstOrSec>
        <name>Ownit Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>HomeBanc Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Entergy Arkansas LLC</name>
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        <name>Crown Castle, Inc.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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      <invstOrSec>
        <name>Subway Funding LLC</name>
        <lei>N/A</lei>
        <title>Subway Funding LLC, Series 2024-1A, Class A23</title>
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          <maturityDt>2054-07-30</maturityDt>
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        <name>FHLMC Pool</name>
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        <name>Solstice Advanced Materials, Inc.</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>PRPM LLC</name>
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        <name>Diageo Investment Corp.</name>
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        <name>BANK5</name>
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        <name>Duke Energy Corp.</name>
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        <name>PRPM LLC</name>
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        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
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        <name>Life Time, Inc.</name>
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        <name>BDS LLC</name>
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        <title>BDS LLC, Series 2022-FL11, Class B</title>
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        <name>Cloud Software Group, Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>Cloud Software Group, Inc.</title>
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        <name>Veritiv Operating Co.</name>
        <lei>5493004G8OK5L1UTIY12</lei>
        <title>Veritiv Operating Co.</title>
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        <balance>95000.00000000</balance>
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      <invstOrSec>
        <name>Viking Cruises Ltd.</name>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Credit Agricole SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cathedral Lake VIII Ltd.</name>
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        <name>Biogen, Inc.</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>200 Park Funding Trust</name>
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        <name>Dcli Bidco LLC</name>
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      <invstOrSec>
        <name>Newmont Corp.</name>
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        <name>MV24 Capital BV</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Suzano Netherlands BV</name>
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        <name>Banco Continental SAECA</name>
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        <invCountry>PY</invCountry>
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      <invstOrSec>
        <name>AEP Texas, Inc.</name>
        <lei>5493001L78U618KXNZ75</lei>
        <title>AEP Texas, Inc.</title>
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      <invstOrSec>
        <name>Chile Electricity Lux Mpc II Sarl</name>
        <lei>N/A</lei>
        <title>Chile Electricity Lux Mpc II Sarl</title>
        <cusip>16882LAB8</cusip>
        <identifiers>
          <isin value="US16882LAB80"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>206046.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.67200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2019-B13, Class A3</title>
        <cusip>08162DAD0</cusip>
        <identifiers>
          <isin value="US08162DAD03"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>494479.49000000</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>2057-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United Natural Foods, Inc.</name>
        <lei>549300GKGW6WPZ282D40</lei>
        <title>United Natural Foods, Inc.</title>
        <cusip>911163AA1</cusip>
        <identifiers>
          <isin value="US911163AA17"/>
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        <balance>415000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>413763.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31418CCP7</cusip>
        <identifiers>
          <isin value="US31418CCP77"/>
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        <balance>210030.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185635.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSN Resources SA</name>
        <lei>222100ZEX458NMOXZP08</lei>
        <title>CSN Resources SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USL21779AK60"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510000.00000000</valUSD>
        <pctVal>0.097820676185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Adani Ports &amp; Special Economic Zone Ltd.</name>
        <lei>335800QOAXP5TM7OYP69</lei>
        <title>Adani Ports &amp; Special Economic Zone Ltd.</title>
        <cusip>00652MAD4</cusip>
        <identifiers>
          <isin value="US00652MAD48"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245312.50000000</valUSD>
        <pctVal>0.047052224758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cook Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Cook Park CLO Ltd., Series 2018-1A, Class D</title>
        <cusip>21623PAJ6</cusip>
        <identifiers>
          <isin value="US21623PAJ66"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501470.50000000</valUSD>
        <pctVal>0.096184673327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.18400880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crown Castle, Inc.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle, Inc.</title>
        <cusip>22822VAT8</cusip>
        <identifiers>
          <isin value="US22822VAT89"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177889.00000000</valUSD>
        <pctVal>0.034120043658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Suntrust Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Suntrust Alternative Loan Trust, Series 2005-1F, Class 2A8</title>
        <cusip>86789MAT4</cusip>
        <identifiers>
          <isin value="US86789MAT45"/>
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        <balance>83697.47000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77901.69000000</valUSD>
        <pctVal>0.014941952925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co.</title>
        <cusip>233331BL0</cusip>
        <identifiers>
          <isin value="US233331BL01"/>
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        <balance>436000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>462673.52000000</valUSD>
        <pctVal>0.088743208979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NCL Corp. Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL Corp. Ltd.</title>
        <cusip>62886HBY6</cusip>
        <identifiers>
          <isin value="US62886HBY62"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54983.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THL Credit Wind River CLO Ltd.</name>
        <lei>N/A</lei>
        <title>THL Credit Wind River CLO Ltd., Series 2018-1A, Class E</title>
        <cusip>88432WAA0</cusip>
        <identifiers>
          <isin value="US88432WAA09"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501553.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.07916120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AASET Ltd.</name>
        <lei>N/A</lei>
        <title>AASET Ltd., Series 2025-2A, Class A</title>
        <cusip>00039NAA2</cusip>
        <identifiers>
          <isin value="US00039NAA28"/>
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        <balance>490983.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496102.91000000</valUSD>
        <pctVal>0.095155141399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.52200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DVMB8</cusip>
        <identifiers>
          <isin value="US3132DVMB89"/>
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        <balance>3706714.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3185177.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</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>Park Intermediate Holdings LLC</name>
        <lei>N/A</lei>
        <title>Park Intermediate Holdings LLC</title>
        <cusip>70052LAD5</cusip>
        <identifiers>
          <isin value="US70052LAD55"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>283162.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GB37</cusip>
        <identifiers>
          <isin value="US38141GB375"/>
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        <balance>282000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>290042.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.33000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WAVE LLC</name>
        <lei>N/A</lei>
        <title>WAVE LLC, Series 2019-1, Class A</title>
        <cusip>94354KAA8</cusip>
        <identifiers>
          <isin value="US94354KAA88"/>
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        <balance>477489.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>461426.52000000</valUSD>
        <pctVal>0.088504027835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.59700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SoFi Consumer Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Consumer Loan Program Trust, Series 2025-2, Class B</title>
        <cusip>83407HAB3</cusip>
        <identifiers>
          <isin value="US83407HAB33"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>705575.57000000</valUSD>
        <pctVal>0.135333096778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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          <isin value="US893647BY22"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187297.70000000</valUSD>
        <pctVal>0.035924681690</pctVal>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LifePoint Health, Inc.</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>141750.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
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        <title>Kodiak Gas Services LLC</title>
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          <isin value="US50012LAD64"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55990.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="50132.55000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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        <identifiers>
          <isin value="US00846UAR23"/>
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        <balance>294000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>292384.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Civitas Resources, Inc.</name>
        <lei>IIVIHPH28S64K95M2381</lei>
        <title>Civitas Resources, Inc.</title>
        <cusip>17888HAA1</cusip>
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          <isin value="US17888HAA14"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82931.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2025-5C4, Class A3</title>
        <cusip>949931AC3</cusip>
        <identifiers>
          <isin value="US949931AC32"/>
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        <balance>451000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472263.57000000</valUSD>
        <pctVal>0.090582630892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.67300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CLF6</cusip>
        <identifiers>
          <isin value="US91282CLF67"/>
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        <balance>56250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55394550.00000000</valUSD>
        <pctVal>10.62496536859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
        <cusip>46284VAQ4</cusip>
        <identifiers>
          <isin value="US46284VAQ41"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35656.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676BC8</cusip>
        <identifiers>
          <isin value="US571676BC81"/>
        </identifiers>
        <balance>308000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310951.47000000</valUSD>
        <pctVal>0.059642123639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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>2025-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>EQ Advisors Trust</ncom:nameOfApplicant>
      <ncom:signature>Brian Walsh</ncom:signature>
      <ncom:signerName>Brian Walsh</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
