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        <fairValLevel>2</fairValLevel>
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        <name>MPLX LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OWN Equipment Fund I LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clydesdale Acquisition Holdings, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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      <invstOrSec>
        <name>AmeriCredit Automobile Receivables Trust</name>
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          <isin value="US023947AD60"/>
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        <balance>360000.00000000</balance>
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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>2029-01-18</maturityDt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-22</maturityDt>
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      <invstOrSec>
        <name>PVH Corp.</name>
        <lei>123WALMHY1GZXG2YDL90</lei>
        <title>PVH Corp.</title>
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        <balance>630000.00000000</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>2030-06-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Utilities Co.</name>
        <lei>AGX0G2MXE54NFNNICD28</lei>
        <title>Kentucky Utilities Co.</title>
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        <balance>190000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-08-15</maturityDt>
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        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <name>Nexstar Media, Inc.</name>
        <lei>5493006PK6I4I2OOT688</lei>
        <title>Nexstar Media, Inc.</title>
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          <maturityDt>2027-07-15</maturityDt>
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        <name>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
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        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
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        <name>FS KKR Capital Corp.</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp.</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 Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Auto Loan Trust, Series 2023-2A, Class B</title>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federation des Caisses Desjardins du Quebec</name>
        <lei>549300B2Q47IR0CR5B54</lei>
        <title>Federation des Caisses Desjardins du Quebec</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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          <isin value="US46284VAG68"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Genesis Energy LP</name>
        <lei>N/A</lei>
        <title>Genesis Energy LP</title>
        <cusip>37185LAQ5</cusip>
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          <isin value="US37185LAQ59"/>
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        <balance>477000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SBNA Auto Lease Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="CNZ5COS"/>
          <other otherDesc="Future Ticker" value="CNZ5 Comdty"/>
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        <balance>-594.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>Sinclair Television Group, Inc.</name>
        <lei>549300CQGEN0CH65UD62</lei>
        <title>Sinclair Television Group, Inc.</title>
        <cusip>829259AY6</cusip>
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          <isin value="US829259AY67"/>
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        <balance>222000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Affirm Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>Affirm Asset Securitization Trust, Series 2024-A, Class A</title>
        <cusip>00834BAA5</cusip>
        <identifiers>
          <isin value="US00834BAA52"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>150616.64000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>Transocean International Ltd.</title>
        <cusip>893830BZ1</cusip>
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          <isin value="US893830BZ10"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>147000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>CenterPoint Energy, Inc.</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy, Inc.</title>
        <cusip>15189TBP1</cusip>
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          <isin value="US15189TBP12"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>453200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP</title>
        <cusip>18060TAC9</cusip>
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          <isin value="US18060TAC99"/>
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        <balance>451000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>460556.69000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2023-2, Class A2</title>
        <cusip>29375NAB1</cusip>
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        <name>Hanesbrands, Inc.</name>
        <lei>GX5LWVWZLL5S4W1L2F20</lei>
        <title>Hanesbrands, Inc.</title>
        <cusip>410345AQ5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
        <cusip>126307BN6</cusip>
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        <balance>496000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2024-3, Class A4</title>
        <cusip>29375QAD0</cusip>
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          <isin value="US29375QAD07"/>
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        <balance>245000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Bain Capital Specialty Finance, Inc.</name>
        <lei>549300V2JL72R0EYBK64</lei>
        <title>Bain Capital Specialty Finance, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prestige Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Prestige Auto Receivables Trust, Series 2021-1A, Class C</title>
        <cusip>74113XAE6</cusip>
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        <balance>30536.27000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>1.53000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC, Series 2025-2A, Class A</title>
        <cusip>05377RKQ6</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NCR Voyix Corp.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Mutual of Omaha Cos. Global Funding</name>
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        <name>FHLMC Pool</name>
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        <name>TRTX Issuer Ltd.</name>
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        <name>Permian Resources Operating LLC</name>
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        <name>New York Life Global Funding</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Wheels Fleet Lease Funding LLC</name>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <name>Principal Life Global Funding II</name>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>GNMA</name>
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        <name>N/A</name>
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        <name>Truist Bank</name>
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        <name>Western-Southern Global Funding</name>
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        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
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        <name>Arab Republic of Egypt</name>
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        <name>DT Auto Owner Trust</name>
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        <name>Target Corp.</name>
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        <name>SCF Equipment Trust LLC</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Varex Imaging Corp.</name>
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        <name>Enova International, Inc.</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>GNMA</name>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
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        <name>Weir Group, Inc.</name>
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        <name>American National Global Funding</name>
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        <name>Comerica, Inc.</name>
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        <name>Enterprise Fleet Financing LLC</name>
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        <name>Argentine Republic</name>
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        <invCountry>AR</invCountry>
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        <name>WESCO Distribution, Inc.</name>
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        <name>AmeriTex HoldCo Intermediate LLC</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>VICI Properties LP</name>
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        <name>Sunoco LP</name>
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        <name>ALA Trust</name>
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        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
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        <name>Cloud Software Group, Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>Cloud Software Group, Inc.</title>
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        <name>M&amp;T Equipment Notes</name>
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        <cusip>551925AB6</cusip>
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          <maturityDt>2030-07-15</maturityDt>
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          <annualizedRt>5.74000000</annualizedRt>
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        <name>GGAM Finance Ltd.</name>
        <lei>254900X2QXEN0FVXRF65</lei>
        <title>GGAM Finance Ltd.</title>
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        <invCountry>KY</invCountry>

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        <name>Aramark Services, Inc.</name>
        <lei>42YMHYH0XMHJEXDUB065</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>NatWest Markets plc</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NatWest Markets plc</title>
        <cusip>63906YAM0</cusip>
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        <balance>530000.00000000</balance>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US912810TC27"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GA Global Funding Trust</name>
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          <isin value="US36143L2T17"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Universal Health Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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        <name>Helmerich &amp; Payne, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Connecticut Avenue Securities Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-03-25</maturityDt>
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        <name>Bacardi-Martini BV</name>
        <lei>5493002XXBV8B88K2408</lei>
        <title>Bacardi-Martini BV</title>
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          <isin value="US05634WAA09"/>
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        <balance>565000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810TQ13"/>
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        <balance>270000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <name>NLG Global Funding</name>
        <lei>635400SKBQOWEJZLTW68</lei>
        <title>NLG Global Funding</title>
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          <isin value="US62915W2B87"/>
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        <balance>595000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
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      <invstOrSec>
        <name>Gen Digital, Inc.</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital, Inc.</title>
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        <name>ZF North America Capital, Inc.</name>
        <lei>529900JYGMS9CW9IQX78</lei>
        <title>ZF North America Capital, Inc.</title>
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      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Rocket Software, Inc.</name>
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        <name>N/A</name>
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        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment, Inc.</title>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <name>Nufarm Australia Ltd.</name>
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        <name>Maxam Prill Sarl</name>
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        <name>GNMA</name>
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        <name>Dycom Industries, Inc.</name>
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        <name>Velocity Vehicle Group LLC</name>
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        <name>Voyager Parent LLC</name>
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        <name>Morgan Stanley</name>
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        <name>Cardinal Health, Inc.</name>
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        <name>Greystar Real Estate Partners LLC</name>
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        <name>FNMA</name>
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        <name>Minerals Technologies, Inc.</name>
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        <name>Dow Chemical Co. (The)</name>
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        <name>Skandinaviska Enskilda Banken AB</name>
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        <name>Wheels Fleet Lease Funding LLC</name>
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        <name>Ahead DB Holdings LLC</name>
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        <name>MSCI, Inc.</name>
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        <name>SBNA Auto Lease Trust</name>
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        <name>HPS Corporate Lending Fund</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <title>General Motors Financial Co., Inc.</title>
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        <name>North Haven Private Income Fund LLC</name>
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        <name>CNH Industrial Capital LLC</name>
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          <maturityDt>2028-03-21</maturityDt>
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        <name>United States of America</name>
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        <name>N/A</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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        <name>Sabre GLBL, Inc.</name>
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        <name>WESCO Distribution, Inc.</name>
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        <name>AutoNation Finance Trust</name>
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        <name>Genesee &amp; Wyoming, Inc.</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
        <title>Genesee &amp; Wyoming, Inc.</title>
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        <name>NCR Voyix Corp.</name>
        <lei>549300YKTY8JX1DV2R67</lei>
        <title>NCR Voyix Corp.</title>
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      <invstOrSec>
        <name>McAfee Corp.</name>
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        <title>McAfee Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
        <title>Navient Private Education Refi Loan Trust, Series 2021-EA, Class A</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aviation Capital Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-10</maturityDt>
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      <invstOrSec>
        <name>Extra Space Storage LP</name>
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        <title>Extra Space Storage LP</title>
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          <isin value="US30225VAJ61"/>
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        <balance>135000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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          <isin value="US05401ABC45"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
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      <invstOrSec>
        <name>Global Auto Holdings Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US00033GAA31"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>Windstream Services LLC</name>
        <lei>N/A</lei>
        <title>Windstream Services LLC</title>
        <cusip>97381AAA0</cusip>
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          <isin value="US97381AAA07"/>
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        <balance>221000.00000000</balance>
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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>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31418DSJ27"/>
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        <balance>169687.92000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>Zayo Group Holdings, Inc.</name>
        <lei>529900Z6OTS7RT0V0I47</lei>
        <title>Zayo Group Holdings, Inc.</title>
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        <balance>231000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Flutter Treasury DAC</name>
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        <invCountry>IE</invCountry>
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        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
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        <name>Surgery Center Holdings, Inc.</name>
        <lei>54930054EVI5HWPPW113</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Daimler Truck Finance North America LLC</name>
        <lei>5493003HSDTSCZRXBA58</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Genesis Energy LP</name>
        <lei>N/A</lei>
        <title>Genesis Energy LP</title>
        <cusip>37185LAL6</cusip>
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          <isin value="US37185LAL62"/>
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        <balance>277000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
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        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
        <cusip>04316JAB5</cusip>
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          <isin value="US04316JAB52"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-09</maturityDt>
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      <invstOrSec>
        <name>Element Fleet Management Corp.</name>
        <lei>5493000PGBS1C22ELQ16</lei>
        <title>Element Fleet Management Corp.</title>
        <cusip>286181AP7</cusip>
        <identifiers>
          <isin value="US286181AP72"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>183320.55000000</valUSD>
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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>
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          <annualizedRt>5.03700000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Blue Owl Capital Corp. II</name>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
        <title>Navient Private Education Refi Loan Trust, Series 2019-GA, Class A</title>
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          <isin value="US63941JAA60"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T Bank Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CNC19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>World Omni Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>World Omni Auto Receivables Trust, Series 2025-C, Class A3</title>
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          <isin value="US981936AC14"/>
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        <balance>505000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
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      <invstOrSec>
        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>Danske Bank A/S</title>
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          <isin value="US23636ABK60"/>
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        <curCd>USD</curCd>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <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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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-5C25, Class A3</title>
        <cusip>05554VAB6</cusip>
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          <isin value="US05554VAB62"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-03-15</maturityDt>
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      <invstOrSec>
        <name>NESCO Holdings II, Inc.</name>
        <lei>254900FAHT0HW9T6L409</lei>
        <title>NESCO Holdings II, Inc.</title>
        <cusip>64083YAA9</cusip>
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          <isin value="US64083YAA91"/>
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        <balance>383000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2024-3A, Class A2</title>
        <cusip>37989EAC0</cusip>
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          <isin value="US37989EAC03"/>
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        <balance>213446.59000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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      <invstOrSec>
        <name>Summit Midstream Holdings LLC</name>
        <lei>N/A</lei>
        <title>Summit Midstream Holdings LLC</title>
        <cusip>86614JAA3</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-31</maturityDt>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>Blue Owl Credit Income Corp.</title>
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          <isin value="US69120VBB62"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.95000000</annualizedRt>
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      <invstOrSec>
        <name>Toucan FinCo Ltd.</name>
        <lei>N/A</lei>
        <title>Toucan FinCo Ltd.</title>
        <cusip>89157UAA5</cusip>
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          <isin value="US89157UAA51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Stream Innovations Issuer Trust</name>
        <lei>N/A</lei>
        <title>Stream Innovations Issuer Trust, Series 2024-1A, Class A</title>
        <cusip>86324CAA9</cusip>
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          <isin value="US86324CAA99"/>
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        <balance>66803.59000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-07-15</maturityDt>
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          <annualizedRt>6.27000000</annualizedRt>
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        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP</title>
        <cusip>18060TAE5</cusip>
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          <isin value="US18060TAE55"/>
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        <balance>372000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-15</maturityDt>
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        <name>Commonwealth Bank of Australia</name>
        <lei>MSFSBD3QN1GSN7Q6C537</lei>
        <title>Commonwealth Bank of Australia</title>
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          <isin value="US20271RAW07"/>
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        <curCd>USD</curCd>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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      <invstOrSec>
        <name>Antares Holdings LP</name>
        <lei>5493008EAIGV4283RM42</lei>
        <title>Antares Holdings LP</title>
        <cusip>03666HAH4</cusip>
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        <balance>260000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-23</maturityDt>
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          <annualizedRt>6.35000000</annualizedRt>
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      <invstOrSec>
        <name>FS KKR Capital Corp.</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp.</title>
        <cusip>302635AQ0</cusip>
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          <isin value="US302635AQ03"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4947.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>American Credit Acceptance Receivables Trust</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>Chubb INA Holdings LLC</name>
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        <name>Cox Communications, Inc.</name>
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        <name>BBCMS Mortgage Trust</name>
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        <name>Host Hotels &amp; Resorts LP</name>
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        <name>SBL Holdings, Inc.</name>
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        <name>Blue Racer Midstream LLC</name>
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        <name>NGL Energy Operating LLC</name>
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        <name>Corebridge Global Funding</name>
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        <name>Service Corp. International</name>
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        <name>LBM Acquisition LLC</name>
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        <name>Tyco Electronics Group SA</name>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
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        <name>Volofin Finance DAC</name>
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        <invCountry>IE</invCountry>
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        <name>Aircastle Ltd.</name>
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        <name>CarMax Auto Owner Trust</name>
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        <name>Univision Communications, Inc.</name>
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        <name>Amcor Flexibles North America, Inc.</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
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        <name>United States of America</name>
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        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-30</maturityDt>
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          <annualizedRt>6.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2025-2A, Class C</title>
        <cusip>37989BAJ1</cusip>
        <identifiers>
          <isin value="US37989BAJ17"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152438.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.11000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179Y5M2</cusip>
        <identifiers>
          <isin value="US36179Y5M26"/>
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        <balance>3949383.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4026326.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>World Omni Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>World Omni Auto Receivables Trust, Series 2024-C, Class A3</title>
        <cusip>98164NAD7</cusip>
        <identifiers>
          <isin value="US98164NAD75"/>
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        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281646.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.43000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Amcor Group Finance plc</name>
        <lei>2549008XHB8M1L64J275</lei>
        <title>Amcor Group Finance plc</title>
        <cusip>02344BAA4</cusip>
        <identifiers>
          <isin value="US02344BAA44"/>
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        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>536938.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jefferies Financial Group, Inc.</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group, Inc.</title>
        <cusip>47233WBM0</cusip>
        <identifiers>
          <isin value="US47233WBM01"/>
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        <balance>295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307285.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TK4</cusip>
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          <isin value="US912810TK43"/>
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        <balance>3370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2869314.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SoFi Consumer Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Consumer Loan Program Trust, Series 2025-2, Class A</title>
        <cusip>83407HAA5</cusip>
        <identifiers>
          <isin value="US83407HAA59"/>
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        <balance>151519.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152330.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.82000000</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>Honda Motor Co. Ltd.</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>Honda Motor Co. Ltd.</title>
        <cusip>438127AE2</cusip>
        <identifiers>
          <isin value="US438127AE20"/>
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        <balance>545000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>549490.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.68800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Illumina, Inc.</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina, Inc.</title>
        <cusip>452327AQ2</cusip>
        <identifiers>
          <isin value="US452327AQ25"/>
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        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321448.54000000</valUSD>
        <pctVal>0.042966489838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</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>Scientific Games Holdings LP</name>
        <lei>N/A</lei>
        <title>Scientific Games Holdings LP</title>
        <cusip>80874DAA4</cusip>
        <identifiers>
          <isin value="US80874DAA46"/>
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        <balance>267000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248067.03000000</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>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DROP Mortgage Trust</name>
        <lei>N/A</lei>
        <title>DROP Mortgage Trust, Series 2021-FILE, Class A</title>
        <cusip>26210YAA4</cusip>
        <identifiers>
          <isin value="US26210YAA47"/>
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        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408464.07000000</valUSD>
        <pctVal>0.054597439804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.41447920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NLG Global Funding</name>
        <lei>635400SKBQOWEJZLTW68</lei>
        <title>NLG Global Funding</title>
        <cusip>62915W2A0</cusip>
        <identifiers>
          <isin value="US62915W2A05"/>
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        <balance>295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305746.56000000</valUSD>
        <pctVal>0.040867681225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526DB2</cusip>
        <identifiers>
          <isin value="US251526DB24"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>322562.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-04</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2020-HR8, Class A4</title>
        <cusip>61692BBP4</cusip>
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          <isin value="US61692BBP40"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>245930.77000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.04100000</annualizedRt>
          <isDefault>N</isDefault>
          <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>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2024-2A, Class B</title>
        <cusip>37964VAD9</cusip>
        <identifiers>
          <isin value="US37964VAD91"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398807.84000000</valUSD>
        <pctVal>0.053306737696</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.77000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QN3E0</cusip>
        <identifiers>
          <isin value="US3140QN3E07"/>
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        <balance>2965137.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2627455.86000000</valUSD>
        <pctVal>0.351199465732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</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>WP Carey, Inc.</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WP Carey, Inc.</title>
        <cusip>92936UAN9</cusip>
        <identifiers>
          <isin value="US92936UAN90"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231341.94000000</valUSD>
        <pctVal>0.030922371319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <name>F&amp;G Global Funding</name>
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      <invstOrSec>
        <name>Auxilior Term Funding LLC</name>
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        <name>Public Service Co. of Colorado</name>
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      <invstOrSec>
        <name>FS KKR Capital Corp.</name>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Dell International LLC</name>
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        <name>Jackson National Life Global Funding</name>
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        <name>TPG Operating Group II LP</name>
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        <name>Crocs, Inc.</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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        <name>Kinetik Holdings LP</name>
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        <name>Mitsubishi HC Finance America LLC</name>
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        <name>BANK5</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>GS Mortgage Securities Corp. Trust</name>
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        <name>Equifax, Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
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        <name>Armor Holdco, Inc.</name>
        <lei>254900X6HLK0YPTHHF09</lei>
        <title>Armor Holdco, Inc.</title>
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      <invstOrSec>
        <name>Main Street Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NCL Corp. Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rivers Enterprise Lender LLC</name>
        <lei>N/A</lei>
        <title>Rivers Enterprise Lender LLC</title>
        <cusip>76884GAA3</cusip>
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        <balance>51000.00000000</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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          <annualizedRt>6.25000000</annualizedRt>
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        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05493BAA61"/>
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        <balance>215000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
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          <isin value="US63861VAP22"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-30</maturityDt>
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          <annualizedRt>4.35100000</annualizedRt>
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      <invstOrSec>
        <name>Ares Capital Corp.</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corp.</title>
        <cusip>04010LBH5</cusip>
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          <isin value="US04010LBH50"/>
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        <balance>295000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>NOVA Chemicals Corp.</name>
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        <title>NOVA Chemicals Corp.</title>
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        <balance>96000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Frontier Issuer LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wisconsin Electric Power Co.</name>
        <lei>AENKIFMULUAWOUU8Q584</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GreenSky Home Improvement Issuer Trust</name>
        <lei>N/A</lei>
        <title>GreenSky Home Improvement Issuer Trust, Series 2024-2, Class A4</title>
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        <balance>54150.40000000</balance>
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        <name>SBL Holdings, Inc.</name>
        <lei>635400MJW3QDSBJRKQ59</lei>
        <title>SBL Holdings, Inc.</title>
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        <name>Eastman Chemical Co.</name>
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      <invstOrSec>
        <name>Forvia SE</name>
        <lei>969500F0VMZLK2IULV85</lei>
        <title>Forvia SE</title>
        <cusip>31209DAC9</cusip>
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        <balance>200000.00000000</balance>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135FCW9</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2024-4A, Class A2</title>
        <cusip>36271BAC5</cusip>
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        <balance>157685.66000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enact Holdings, Inc.</name>
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        <title>Enact Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Multifamily Connecticut Avenue Securities Trust</name>
        <lei>549300HG8ZEWVWVSN227</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GATX Corp.</name>
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        <title>GATX Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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        <name>Cooperatieve Rabobank UA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Allied Universal Holdco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-10</maturityDt>
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        <name>Advanced Drainage Systems, Inc.</name>
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        <name>Enpro, Inc.</name>
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        <name>FHLMC</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>GNMA</name>
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        <name>Santander UK Group Holdings plc</name>
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        <title>Santander UK Group Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <name>Suntory Holdings Ltd.</name>
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        <title>Suntory Holdings Ltd.</title>
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        <invCountry>JP</invCountry>
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        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
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        <invCountry>GB</invCountry>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3133A6GU9</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Take-Two Interactive Software, Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>Take-Two Interactive Software, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sammons Financial Group Global Funding</name>
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          <isin value="US79587J2C65"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Antares Holdings LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEB Funding LLC</name>
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          <isin value="US78433DAC83"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-30</maturityDt>
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      <invstOrSec>
        <name>ING Groep NV</name>
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        <title>ING Groep NV</title>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-25</maturityDt>
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      <invstOrSec>
        <name>HPS Corporate Lending Fund</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS Corporate Lending Fund</title>
        <cusip>40440VAS4</cusip>
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          <isin value="US40440VAS43"/>
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        <balance>215000.00000000</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>2030-11-15</maturityDt>
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          <annualizedRt>5.45000000</annualizedRt>
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      <invstOrSec>
        <name>Extended Stay America Trust</name>
        <lei>N/A</lei>
        <title>Extended Stay America Trust, Series 2025-ESH, Class A</title>
        <cusip>30227TAA8</cusip>
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          <isin value="US30227TAA88"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110206.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650EL0</cusip>
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          <isin value="US126650EL07"/>
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        <balance>785000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800182.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
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      <invstOrSec>
        <name>NFE Financing LLC</name>
        <lei>N/A</lei>
        <title>NFE Financing LLC</title>
        <cusip>62909BAA5</cusip>
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          <isin value="US62909BAA52"/>
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        <balance>2876400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>830934.43000000</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>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HDM4</cusip>
        <identifiers>
          <isin value="US14040HDM43"/>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>287533.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.49300160</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Amkor Technology, Inc.</name>
        <lei>529900VHLRTKPWZJBM84</lei>
        <title>Amkor Technology, Inc.</title>
        <cusip>031652BL3</cusip>
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          <isin value="US031652BL34"/>
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        <balance>263000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265690.49000000</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>2033-10-01</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Owens-Brockway Glass Container, Inc.</name>
        <lei>V2UQUCDZJ9WY98W8QU33</lei>
        <title>Owens-Brockway Glass Container, Inc.</title>
        <cusip>69073TAT0</cusip>
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          <isin value="US69073TAT07"/>
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        <balance>288000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>287280.00000000</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>2027-05-13</maturityDt>
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      <invstOrSec>
        <name>Genuine Parts Co.</name>
        <lei>549300D46DQVEU651W04</lei>
        <title>Genuine Parts Co.</title>
        <cusip>372460AF2</cusip>
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          <isin value="US372460AF25"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>443562.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enel Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
        <cusip>29278GBG2</cusip>
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          <isin value="US29278GBG29"/>
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        <balance>875000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-30</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>Targa Resources Corp.</title>
        <cusip>87612GAN1</cusip>
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          <isin value="US87612GAN16"/>
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        <balance>595000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594325.45000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>BMW Vehicle Lease Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Lease Trust, Series 2025-1, Class A3</title>
        <cusip>096912AD2</cusip>
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          <isin value="US096912AD26"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136033.80000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.43000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GM Financial Automobile Leasing Trust</name>
        <lei>N/A</lei>
        <title>GM Financial Automobile Leasing Trust, Series 2025-1, Class A3</title>
        <cusip>36271VAD9</cusip>
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          <isin value="US36271VAD91"/>
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        <balance>295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297750.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.66000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Western Union Co. (The)</name>
        <lei>28ID94QU1140NC23S047</lei>
        <title>Western Union Co. (The)</title>
        <cusip>959802AZ2</cusip>
        <identifiers>
          <isin value="US959802AZ22"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172609.85000000</valUSD>
        <pctVal>0.023071933585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SPGN Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>JB Hunt Transport Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern Power Co.</name>
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        <name>Glencore Funding LLC</name>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>RXO, Inc.</name>
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        <name>Federation des Caisses Desjardins du Quebec</name>
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        <name>Zebra Technologies Corp.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Wisconsin Public Service Corp.</name>
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        <name>Terex Corp.</name>
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        <title>Terex Corp.</title>
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        <name>BHG Securitization Trust</name>
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        <name>Opal Bidco SAS</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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      <invstOrSec>
        <name>Fortitude Group Holdings LLC</name>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rolls-Royce plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lennar Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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        <name>CommScope LLC</name>
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        <name>Hercules Capital, Inc.</name>
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        <title>Hercules Capital, Inc.</title>
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        <name>Arrow Electronics, Inc.</name>
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        <name>Husky Injection Molding Systems Ltd.</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>Multifamily Connecticut Avenue Securities Trust</name>
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        <name>Santander Drive Auto Receivables Trust</name>
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          <maturityDt>2030-11-15</maturityDt>
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        <name>Qnity Electronics, Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics, Inc.</title>
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        <name>BANK</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sealed Air Corp.</name>
        <lei>N/A</lei>
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          <isin value="US812127AA61"/>
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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>2028-02-01</maturityDt>
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      <invstOrSec>
        <name>IQVIA, Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freedom Mortgage Holdings LLC</name>
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          <isin value="US35641AAA60"/>
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        <balance>237000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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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>2029-01-16</maturityDt>
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      <invstOrSec>
        <name>Avient Corp.</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
        <title>Avient Corp.</title>
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          <isin value="US05368VAA44"/>
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        <balance>208000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>7.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golub Capital Private Credit Fund</name>
        <lei>254900B5KBW6OY1F9951</lei>
        <title>Golub Capital Private Credit Fund</title>
        <cusip>38179RAE5</cusip>
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          <isin value="US38179RAE53"/>
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        <balance>95000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
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          <annualizedRt>5.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280EW5</cusip>
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          <isin value="US404280EW52"/>
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        <balance>505000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-13</maturityDt>
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          <annualizedRt>5.24000000</annualizedRt>
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      <invstOrSec>
        <name>Golub Capital BDC, Inc.</name>
        <lei>2549005WE0QLGK9APF78</lei>
        <title>Golub Capital BDC, Inc.</title>
        <cusip>38173MAB8</cusip>
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          <isin value="US38173MAB81"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3433932.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22535WAP2</cusip>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>448292.28000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-09</maturityDt>
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          <annualizedRt>5.23000000</annualizedRt>
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      <invstOrSec>
        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares, Inc.</title>
        <cusip>446150BE3</cusip>
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        <balance>155000.00000000</balance>
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        <valUSD>159502.58000000</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>2031-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.27200000</annualizedRt>
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      <invstOrSec>
        <name>MassMutual Global Funding II</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MassMutual Global Funding II</title>
        <cusip>57629TBV8</cusip>
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        <balance>750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-10</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>New Mountain Finance Corp.</name>
        <lei>549300L1MPTT1H7SES77</lei>
        <title>New Mountain Finance Corp.</title>
        <cusip>647551AF7</cusip>
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          <isin value="US647551AF79"/>
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        <balance>150000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>NXP BV</name>
        <lei>N/A</lei>
        <title>NXP BV</title>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179YU77</cusip>
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          <isin value="US36179YU776"/>
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        <balance>2950005.00000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-20</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2024-67, Class EI</title>
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        <balance>718952.70000000</balance>
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        <issuerCat>USGA</issuerCat>
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          <maturityDt>2065-10-16</maturityDt>
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      <invstOrSec>
        <name>Stellantis Finance US, Inc.</name>
        <lei>549300QZ0AI8Q7LNON33</lei>
        <title>Stellantis Finance US, Inc.</title>
        <cusip>85855CAL4</cusip>
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        <balance>335000.00000000</balance>
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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>2035-03-18</maturityDt>
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          <annualizedRt>6.45000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>CarMax Auto Owner Trust, Series 2024-4, Class A3</title>
        <cusip>14290DAC5</cusip>
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          <isin value="US14290DAC56"/>
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        <balance>665000.00000000</balance>
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        <valUSD>672022.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Broadstreet Partners Group LLC</name>
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        <name>Commonwealth Bank of Australia</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONEOK, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
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        <title>Las Vegas Sands Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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        <name>VICI Properties LP</name>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Station Casinos LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wand NewCo 3, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Blue Owl Technology Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Raymond James Financial, Inc.</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
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        <name>Morgan Stanley Private Bank NA</name>
        <lei>549300GS0W0TEUQS8571</lei>
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        <name>Froneri Lux FinCo. Sarl</name>
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        <name>Open Text Holdings, Inc.</name>
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        <name>DC Commercial Mortgage Trust</name>
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        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
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        <name>FHLMC Pool</name>
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        <name>RB Global Holdings, Inc.</name>
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        <name>US Foods, Inc.</name>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
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      <invstOrSec>
        <name>Whirlpool Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <title>Hilton Domestic Operating Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Clarivate Science Holdings Corp.</name>
        <lei>N/A</lei>
        <title>Clarivate Science Holdings Corp.</title>
        <cusip>18064PAD1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Celanese US Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Xcel Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Multifamily Connecticut Avenue Securities Trust</name>
        <lei>254900JAK6X5OPMD5925</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810UK24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
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        <title>American Credit Acceptance Receivables Trust, Series 2025-2, Class C</title>
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        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
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        <name>CNO Global Funding</name>
        <lei>6354008GTNR4833ULD48</lei>
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        <cusip>18977W2H2</cusip>
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        <name>Belrose Funding Trust II</name>
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          <maturityDt>2055-05-15</maturityDt>
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        <name>Pacific Life Global Funding II</name>
        <lei>6354003EUPCHXTWUU869</lei>
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        <cusip>6944PL3F4</cusip>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>US Acute Care Solutions LLC</name>
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        <name>Alimentation Couche-Tard, Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard, Inc.</title>
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        <name>Capital Power US Holdings, Inc.</name>
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        <name>Cloud Software Group, Inc.</name>
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        <name>Trustage Financial Group, Inc.</name>
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        <name>M.D.C. Holdings, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>DXC Technology Co.</name>
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        <name>Forvia SE</name>
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        <name>Affirm Asset Securitization Trust</name>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Clarios Global LP</name>
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        <name>Toyota Lease Owner Trust</name>
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        <name>Analog Devices, Inc.</name>
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        <name>Delek Logistics Partners LP</name>
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        <name>Zayo Issuer LLC</name>
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        <name>Trust Fibra Uno</name>
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        <title>Trust Fibra Uno</title>
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        <invCountry>MX</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BHG Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US08862HAA05"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citizens Financial Group, Inc.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Resideo Funding, Inc.</name>
        <lei>5493000IFJ6XJKH66598</lei>
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          <isin value="US76119LAD38"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-149, Class IP</title>
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          <isin value="US38380BVE28"/>
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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>2046-10-20</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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          <isin value="US3618N5EW56"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CNQ05"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oaktree Strategic Credit Fund</name>
        <lei>2549006RRE0JC7G43241</lei>
        <title>Oaktree Strategic Credit Fund</title>
        <cusip>67403AAF6</cusip>
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          <isin value="US67403AAF66"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97114.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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          <isin value="US36179YRJ54"/>
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        <curCd>USD</curCd>
        <valUSD>2459160.14000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>LAD Auto Receivables Trust, Series 2024-3A, Class A3</title>
        <cusip>505709AC9</cusip>
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          <isin value="US505709AC99"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>180727.81000000</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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.52000000</annualizedRt>
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      <invstOrSec>
        <name>Pricoa Global Funding I</name>
        <lei>635400IBXEBMD9ADYA79</lei>
        <title>Pricoa Global Funding I</title>
        <cusip>74153WCY3</cusip>
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          <isin value="US74153WCY30"/>
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        <balance>480000.00000000</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>2032-08-26</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Axalta Coating Systems LLC</name>
        <lei>N/A</lei>
        <title>Axalta Coating Systems LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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          <isin value="US651229BG06"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Williams Scotsman, Inc.</name>
        <lei>549300DAKDS8SCO1OT57</lei>
        <title>Williams Scotsman, Inc.</title>
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          <isin value="US96949VAL71"/>
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        <balance>362000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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        <name>Huntington Auto Trust</name>
        <lei>N/A</lei>
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          <isin value="US446144AE71"/>
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        <balance>270000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.23000000</annualizedRt>
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        <name>Energizer Holdings, Inc.</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>Energizer Holdings, Inc.</title>
        <cusip>29272WAC3</cusip>
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        <balance>247000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="83801"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>Ardonagh Group Finance Ltd.</name>
        <lei>254900SRT1BTAJ76NW62</lei>
        <title>Ardonagh Group Finance Ltd.</title>
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        <name>SMB Private Education Loan Trust</name>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
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        <name>Kingpin Intermediate Holdings LLC</name>
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        <name>Deutsche Bank AG</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Open Text Corp.</name>
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        <name>LABL, Inc.</name>
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        <name>Arcosa, Inc.</name>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <name>Mission Lane Credit Card Master Trust</name>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy, Inc.</title>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DLLMT LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SFS Auto Receivables Securitization Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>Ralph Lauren Corp.</name>
        <lei>HO1QNWM0IXBZ0QSMMO20</lei>
        <title>Ralph Lauren Corp.</title>
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          <isin value="US751212AD31"/>
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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>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Primo Water Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Primo Water Holdings, Inc.</title>
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        <balance>203000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197399.23000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-30</maturityDt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</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>2031-01-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Mitsubishi Corp.</name>
        <lei>KVIPTY4PULAPGC1VVD26</lei>
        <title>Mitsubishi Corp.</title>
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          <isin value="US606769AJ61"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Owner Trust, Series 2021-1, Class A</title>
        <cusip>345340AA1</cusip>
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          <isin value="US345340AA14"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HB Fuller Co.</name>
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        <title>HB Fuller Co.</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>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Essential Utilities, Inc.</name>
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        <title>Essential Utilities, Inc.</title>
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        <name>Bank of Nova Scotia (The)</name>
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        <invCountry>CA</invCountry>
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        <name>Star Parent, Inc.</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>BPR Trust</name>
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        <cusip>05592CAA4</cusip>
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        <name>Hertz Vehicle Financing LLC</name>
        <lei>5493004IHDYOZ9K9WF47</lei>
        <title>Hertz Vehicle Financing LLC, Series 2022-2A, Class A</title>
        <cusip>42806MAN9</cusip>
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        <balance>400000.00000000</balance>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418EDC1</cusip>
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          <isin value="US31418EDC12"/>
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        <balance>2522052.74000000</balance>
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        <valUSD>2131732.04000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GreenSky Home Improvement Trust</name>
        <lei>N/A</lei>
        <title>GreenSky Home Improvement Trust, Series 2024-1, Class A3</title>
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          <isin value="US39571MAC29"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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          <isin value="US86562MDY30"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-08</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MVW LLC</name>
        <lei>N/A</lei>
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          <isin value="US62847RAA59"/>
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        <balance>96802.25000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-20</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>04685A4S7</cusip>
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          <isin value="US04685A4S74"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>354908.09000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.54300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Notas do Tesouro Nacional</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Notas do Tesouro Nacional</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRSTNCNTF238"/>
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        <balance>98050000.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="5.32225000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.99999990</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QVGM0</cusip>
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          <isin value="US3140QVGM06"/>
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        <balance>997098.98000000</balance>
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        <curCd>USD</curCd>
        <valUSD>991383.41000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Block, Inc.</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block, Inc.</title>
        <cusip>852234AU7</cusip>
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          <isin value="US852234AU71"/>
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        <balance>126000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128906.82000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JBS USA Holding Lux Sarl</name>
        <lei>N/A</lei>
        <title>JBS USA Holding Lux Sarl</title>
        <cusip>472140AG7</cusip>
        <identifiers>
          <isin value="US472140AG79"/>
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        <balance>1015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1035973.55000000</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>2056-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ellucian Holdings, Inc.</name>
        <lei>549300RP8NIJ7FY7OS79</lei>
        <title>Ellucian Holdings, Inc.</title>
        <cusip>289178AA3</cusip>
        <identifiers>
          <isin value="US289178AA37"/>
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        <balance>117000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118869.66000000</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>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HDB8</cusip>
        <identifiers>
          <isin value="US14040HDB87"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>345061.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.14900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ares Strategic Income Fund</name>
        <lei>549300IANZJVZPTICV54</lei>
        <title>Ares Strategic Income Fund</title>
        <cusip>04020EAG2</cusip>
        <identifiers>
          <isin value="US04020EAG26"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304239.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Public Service Co.</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>Arizona Public Service Co.</title>
        <cusip>040555DH4</cusip>
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          <isin value="US040555DH45"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>287364.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPCN1</cusip>
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          <isin value="US1248EPCN14"/>
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        <balance>436000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>396127.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="EGT9980EAP19"/>
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        <balance>640000000.00000000</balance>
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        <currencyConditional curCd="EGP" exchangeRt="47.85000000"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-14</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2023-5, Class B</title>
        <cusip>80286PAD3</cusip>
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          <isin value="US80286PAD33"/>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>504286.89000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.16000000</annualizedRt>
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      <invstOrSec>
        <name>Compass Datacenters Issuer II LLC</name>
        <lei>N/A</lei>
        <title>Compass Datacenters Issuer II LLC, Series 2024-2A, Class A1</title>
        <cusip>20469AAD1</cusip>
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          <isin value="US20469AAD19"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196096.37000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-25</maturityDt>
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          <annualizedRt>5.02200000</annualizedRt>
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      <invstOrSec>
        <name>US Bank NA</name>
        <lei>6BYL5QZYBDK8S7L73M02</lei>
        <title>US Bank NA</title>
        <cusip>90331HPP2</cusip>
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          <isin value="US90331HPP28"/>
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        <balance>760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>762305.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAK3</cusip>
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          <isin value="US63861VAK35"/>
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        <balance>620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>637881.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>HSBC Holdings plc</name>
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        <name>FNMA</name>
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        <name>Brand Industrial Services, Inc.</name>
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        <name>Garda World Security Corp.</name>
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        <name>FNMA</name>
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        <name>Saks Global Enterprises LLC</name>
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        <name>Frontier Issuer LLC</name>
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        <name>DNB Bank ASA</name>
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        <name>Windsor Holdings III LLC</name>
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        <name>CCO Holdings LLC</name>
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        <name>Weekley Homes LLC</name>
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        <name>ION Trading Technologies Sarl</name>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <name>Denso Corp.</name>
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        <title>Denso Corp.</title>
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        <valUSD>549197.46000000</valUSD>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hertz Vehicle Financing III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
        <title>Hertz Vehicle Financing III LLC, Series 2024-1A, Class A</title>
        <cusip>42806MCK3</cusip>
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          <isin value="US42806MCK36"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>379927.73000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ameren Corp.</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>Ameren Corp.</title>
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          <isin value="US023608AQ57"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GM Financial Automobile Leasing Trust</name>
        <lei>N/A</lei>
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          <isin value="US379965AD89"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.17000000</annualizedRt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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          <isin value="US05401AAK79"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>390503.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>BANK5</name>
        <lei>N/A</lei>
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          <isin value="US06211FAV04"/>
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        <curCd>USD</curCd>
        <valUSD>150606.27000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US08163GAU40"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Great Canadian Gaming Corp.</name>
        <lei>549300FU60SSFLTE0M84</lei>
        <title>Great Canadian Gaming Corp.</title>
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          <isin value="US389925AA64"/>
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        <balance>303000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>SoFi Professional Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Professional Loan Program Trust, Series 2020-A, Class A2FX</title>
        <cusip>83406TAB8</cusip>
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          <isin value="US83406TAB89"/>
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        <balance>37164.37000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bread Financial Holdings, Inc.</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>Bread Financial Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>EMRLD Borrower LP</name>
        <lei>98450099EE3A0ZD5F786</lei>
        <title>EMRLD Borrower LP</title>
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        <balance>364000.00000000</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 2020-C58, Class A4</title>
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          <isin value="US95002UAJ07"/>
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        <name>Stellantis Financial Services US Corp.</name>
        <lei>N/A</lei>
        <title>Stellantis Financial Services US Corp.</title>
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        <name>Atlas Warehouse Lending Co. LP</name>
        <lei>25490068J12A1HV7YM70</lei>
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        <name>Shift4 Payments LLC</name>
        <lei>N/A</lei>
        <title>Shift4 Payments LLC</title>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <name>1011778 BC ULC</name>
        <lei>N/A</lei>
        <title>1011778 BC ULC</title>
        <cusip>68245XAT6</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toyota Motor Credit Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Electric Power Co., Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Marathon Petroleum Corp.</name>
        <lei>3BNYRYQHD39K4LCKQF12</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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        <name>New Economy Assets - Phase 1 Sponsor LLC</name>
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        <name>Applebee's Funding LLC</name>
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        <name>COPT Defense Properties LP</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>BMW Vehicle Lease Trust</name>
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        <name>Post Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <name>VT Topco, Inc.</name>
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        <name>Standard Chartered plc</name>
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        <invCountry>GB</invCountry>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <invCountry>US</invCountry>
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        <name>Wyndham Hotels &amp; Resorts, Inc.</name>
        <lei>549300FE3MQ4RVXXC673</lei>
        <title>Wyndham Hotels &amp; Resorts, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wheels Fleet Lease Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-27</maturityDt>
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      <invstOrSec>
        <name>Owens-Brockway Glass Container, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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          <isin value="US29375UAC36"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>434267.84000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-20</maturityDt>
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      <invstOrSec>
        <name>NOVA Chemicals Corp.</name>
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        <title>NOVA Chemicals Corp.</title>
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          <isin value="US66977WAT62"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371454.25000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>SCOTT Trust</name>
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          <isin value="US810064AA37"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492834.38000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-03-10</maturityDt>
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          <annualizedRt>5.90975000</annualizedRt>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC, Series 2023-3A, Class A</title>
        <cusip>05377RGU2</cusip>
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          <isin value="US05377RGU23"/>
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        <balance>940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>953362.38000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.44000000</annualizedRt>
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      <invstOrSec>
        <name>Goat Holdco LLC</name>
        <lei>N/A</lei>
        <title>Goat Holdco LLC</title>
        <cusip>38021MAA4</cusip>
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          <isin value="US38021MAA45"/>
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        <balance>287000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294542.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Mercury Financial Credit Card Master Trust</name>
        <lei>N/A</lei>
        <title>Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A</title>
        <cusip>58940BAZ9</cusip>
        <identifiers>
          <isin value="US58940BAZ94"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357817.10000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.56000000</annualizedRt>
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      <invstOrSec>
        <name>Nissan Motor Acceptance Co. LLC</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
        <title>Nissan Motor Acceptance Co. LLC</title>
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          <isin value="US65480CAH88"/>
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        <balance>365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>362572.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-13</maturityDt>
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          <annualizedRt>5.55000000</annualizedRt>
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        <name>Micron Technology, Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology, Inc.</title>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>450394.48000000</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>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Marex Group plc</name>
        <lei>549300DWX0SVICJAL507</lei>
        <title>Marex Group plc</title>
        <cusip>566539AB8</cusip>
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          <isin value="US566539AB80"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>329374.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-08</maturityDt>
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          <annualizedRt>5.82900000</annualizedRt>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>LAD Auto Receivables Trust, Series 2025-1A, Class A3</title>
        <cusip>505712AC3</cusip>
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          <isin value="US505712AC37"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>472460.22000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-16</maturityDt>
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          <annualizedRt>4.69000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179XX68</cusip>
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        <balance>1673565.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1695593.56000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-20</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <balance>8310000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-12</maturityDt>
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          <annualizedRt>5.35000000</annualizedRt>
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        <name>Allied Universal Holdco LLC</name>
        <lei>N/A</lei>
        <title>Allied Universal Holdco LLC</title>
        <cusip>019576AF4</cusip>
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        <balance>384000.00000000</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>2030-06-15</maturityDt>
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          <annualizedRt>6.87500000</annualizedRt>
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        <name>CDW LLC</name>
        <lei>N/A</lei>
        <title>CDW LLC</title>
        <cusip>12513GBH1</cusip>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>473008.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.27600000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="TYZ5COM"/>
          <other otherDesc="Future Ticker" value="TYZ5 Comdty"/>
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        <balance>113.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Cummins, Inc.</name>
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        <name>RWE Finance US LLC</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>APA Corp.</name>
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        <name>Apollo Global Management, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Flagship Credit Auto Trust</name>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <name>Ford Credit Auto Lease Trust</name>
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        <name>Carnival Corp.</name>
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        <name>Japan Government Bond</name>
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        <name>Saks Global Enterprises LLC</name>
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        <name>HUB International Ltd.</name>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
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        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Blue Racer Midstream LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
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      <invstOrSec>
        <name>KKR &amp; Co., Inc.</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; Co., Inc.</title>
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          <isin value="US48251WAB00"/>
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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>2035-08-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>Zayo Issuer LLC</name>
        <lei>N/A</lei>
        <title>Zayo Issuer LLC, Series 2025-3A, Class A2</title>
        <cusip>98919WAN3</cusip>
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          <isin value="US98919WAN39"/>
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        <balance>1140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1146987.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.57000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Zayo Group Holdings, Inc.</name>
        <lei>529900Z6OTS7RT0V0I47</lei>
        <title>Zayo Group Holdings, Inc.</title>
        <cusip>98919VAA3</cusip>
        <identifiers>
          <isin value="US98919VAA35"/>
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        <balance>494000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>476092.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hyundai Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Hyundai Auto Receivables Trust, Series 2025-B, Class A3</title>
        <cusip>44935XAD7</cusip>
        <identifiers>
          <isin value="US44935XAD75"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>176544.22000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-17</maturityDt>
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          <annualizedRt>4.36000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="FVZ5COM"/>
          <other otherDesc="Future Ticker" value="FVZ5 Comdty"/>
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        <balance>80.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>United States of America</issuerName>
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                  <ticker value="FVZ5 Comdty"/>
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            <unrealizedAppr>10726.08000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bain Capital Specialty Finance, Inc.</name>
        <lei>549300V2JL72R0EYBK64</lei>
        <title>Bain Capital Specialty Finance, Inc.</title>
        <cusip>05684BAD9</cusip>
        <identifiers>
          <isin value="US05684BAD91"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105521.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>HealthEquity, Inc.</name>
        <lei>529900LRJU1RAFQHM467</lei>
        <title>HealthEquity, Inc.</title>
        <cusip>42226AAA5</cusip>
        <identifiers>
          <isin value="US42226AAA51"/>
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        <balance>370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>358567.00000000</valUSD>
        <pctVal>0.047927936962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Camelot Finance SA</name>
        <lei>N/A</lei>
        <title>Camelot Finance SA</title>
        <cusip>13323AAB6</cusip>
        <identifiers>
          <isin value="US13323AAB61"/>
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        <balance>34000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33816.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northwestern Mutual Global Funding</name>
        <lei>635400LZXFVELZDVP257</lei>
        <title>Northwestern Mutual Global Funding</title>
        <cusip>66815L2M0</cusip>
        <identifiers>
          <isin value="US66815L2M02"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>593322.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UKG, Inc.</name>
        <lei>529900FKHWSTQ1GXK240</lei>
        <title>UKG, Inc.</title>
        <cusip>90279XAA0</cusip>
        <identifiers>
          <isin value="US90279XAA00"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>226875.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IQVIA, Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA, Inc.</title>
        <cusip>46266TAF5</cusip>
        <identifiers>
          <isin value="US46266TAF57"/>
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        <balance>293000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>308152.29000000</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>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Cantor Fitzgerald LP</name>
        <lei>549300RLUEEVQEMX0450</lei>
        <title>Cantor Fitzgerald LP</title>
        <cusip>138616AM9</cusip>
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          <isin value="US138616AM99"/>
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        <balance>275000.00000000</balance>
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        <valUSD>293858.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp.</title>
        <cusip>143658BW1</cusip>
        <identifiers>
          <isin value="US143658BW12"/>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>541393.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
        <cusip>87020PAY3</cusip>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AmeriCredit Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>AmeriCredit Automobile Receivables Trust, Series 2021-3, Class C</title>
        <cusip>03066JAE3</cusip>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.41000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2025-1A, Class A2</title>
        <cusip>36271FAB8</cusip>
        <identifiers>
          <isin value="US36271FAB85"/>
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        <balance>205385.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206619.27000000</valUSD>
        <pctVal>0.027617810193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Performance Food Group, Inc.</name>
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        <name>Westlake Automobile Receivables Trust</name>
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        <name>Freedom Mortgage Corp.</name>
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        <name>Aris Water Holdings LLC</name>
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        <name>INVESCO GOVT AND AGCY LEX</name>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <name>Aircastle Ltd.</name>
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        <name>Kaiser Aluminum Corp.</name>
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        <name>Illuminate Buyer LLC</name>
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        <name>Royal Bank of Canada</name>
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        <name>Crescent Energy Finance LLC</name>
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        <name>BNP Paribas SA</name>
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        <name>Athene Global Funding</name>
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        <name>Ameren Illinois Co.</name>
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        <name>HPS Corporate Lending Fund</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS Corporate Lending Fund</title>
        <cusip>40440VAC9</cusip>
        <identifiers>
          <isin value="US40440VAC90"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10323.66000000</valUSD>
        <pctVal>0.001379914285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>13607PH98</cusip>
        <identifiers>
          <isin value="US13607PH984"/>
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        <balance>745000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>757150.95000000</valUSD>
        <pctVal>0.101204748352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.85700120</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>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
        <cusip>49456BAV3</cusip>
        <identifiers>
          <isin value="US49456BAV36"/>
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        <balance>244000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243447.58000000</valUSD>
        <pctVal>0.032540474354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2025-1A, Class A3</title>
        <cusip>96043VAD0</cusip>
        <identifiers>
          <isin value="US96043VAD01"/>
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        <balance>475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>478348.80000000</valUSD>
        <pctVal>0.063938597618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AmeriCredit Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>AmeriCredit Automobile Receivables Trust, Series 2022-1, Class B</title>
        <cusip>03066TAD3</cusip>
        <identifiers>
          <isin value="US03066TAD37"/>
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        <balance>154584.60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154396.64000000</valUSD>
        <pctVal>0.020637460862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.77000000</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>Century Communities, Inc.</name>
        <lei>5299002QMB2O7ZL1CA26</lei>
        <title>Century Communities, Inc.</title>
        <cusip>156504AN2</cusip>
        <identifiers>
          <isin value="US156504AN20"/>
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        <balance>152000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153330.00000000</valUSD>
        <pctVal>0.020494888192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UN6</cusip>
        <identifiers>
          <isin value="US912810UN62"/>
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        <balance>455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>464739.87000000</valUSD>
        <pctVal>0.062119556995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VStrong Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>VStrong Auto Receivables Trust, Series 2024-A, Class B</title>
        <cusip>92891PAG8</cusip>
        <identifiers>
          <isin value="US92891PAG81"/>
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        <balance>48000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48701.35000000</valUSD>
        <pctVal>0.006509676665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.77000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flex Ltd.</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd.</title>
        <cusip>33938XAE5</cusip>
        <identifiers>
          <isin value="US33938XAE58"/>
        </identifiers>
        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299514.90000000</valUSD>
        <pctVal>0.040034725020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Media, Inc.</title>
        <cusip>389375AM8</cusip>
        <identifiers>
          <isin value="US389375AM81"/>
        </identifiers>
        <balance>106000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114429.12000000</valUSD>
        <pctVal>0.015295193506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust, Series 2022-2A, Class C</title>
        <cusip>43283GAC6</cusip>
        <identifiers>
          <isin value="US43283GAC69"/>
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        <balance>34913.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35195.66000000</valUSD>
        <pctVal>0.004704435639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.57000000</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>AmeriCredit Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>AmeriCredit Automobile Receivables Trust, Series 2023-1, Class B</title>
        <cusip>03067BAE9</cusip>
        <identifiers>
          <isin value="US03067BAE92"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>454508.82000000</valUSD>
        <pctVal>0.060752021445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.57000000</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>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>Clydesdale Acquisition Holdings, Inc.</title>
        <cusip>18972EAD7</cusip>
        <identifiers>
          <isin value="US18972EAD76"/>
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        <balance>154000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157859.24000000</valUSD>
        <pctVal>0.021100290053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</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>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OHA Credit Funding 2 Ltd.</name>
        <lei>N/A</lei>
        <title>OHA Credit Funding 2 Ltd., Series 2019-2A, Class D1R2</title>
        <cusip>67707ECA0</cusip>
        <identifiers>
          <isin value="US67707ECA01"/>
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        <balance>2850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2861320.20000000</valUSD>
        <pctVal>0.382458994203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.02549000</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>Block Financial LLC</name>
        <lei>N/A</lei>
        <title>Block Financial LLC</title>
        <cusip>093662AK0</cusip>
        <identifiers>
          <isin value="US093662AK00"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>397286.30000000</valUSD>
        <pctVal>0.053103360717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>Jackson National Life Global Funding</title>
        <cusip>46849LVH1</cusip>
        <identifiers>
          <isin value="US46849LVH13"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449790.48000000</valUSD>
        <pctVal>0.060121343491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citizens Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Citizens Auto Receivables Trust, Series 2024-1, Class A3</title>
        <cusip>17331QAD8</cusip>
        <identifiers>
          <isin value="US17331QAD88"/>
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        <balance>143412.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144242.65000000</valUSD>
        <pctVal>0.019280225554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.11000000</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>NSTAR Electric Co.</name>
        <lei>54930080R72Y2Z31UR68</lei>
        <title>NSTAR Electric Co.</title>
        <cusip>67021CAX5</cusip>
        <identifiers>
          <isin value="US67021CAX56"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194882.68000000</valUSD>
        <pctVal>0.026049036308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>Sirius XM Radio LLC</name>
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        <name>Raven Acquisition Holdings LLC</name>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>BANK</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>AASET Trust</name>
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        <name>Compass Datacenters Issuer III LLC</name>
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        <name>Synchrony Financial</name>
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        <name>QUALCOMM, Inc.</name>
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        <name>Ally Financial, Inc.</name>
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        <name>MassMutual Global Funding II</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MassMutual Global Funding II</title>
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        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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        <name>Rocket Software, Inc.</name>
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        <title>Rocket Software, Inc.</title>
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        <name>N/A</name>
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        <name>Westlake Automobile Receivables Trust</name>
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        <name>Southwestern Public Service Co.</name>
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        <name>Transocean International Ltd.</name>
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        <name>Plains All American Pipeline LP</name>
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        <name>Sixth Street Lending Partners</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>Prestige Auto Receivables Trust</name>
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        <name>TFDXX LEX BLACKROCK FED FUND</name>
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        <name>Gray Media, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Mex Bonos Desarr Fix Rt</name>
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        <name>Park River Holdings, Inc.</name>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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        <name>Central Parent, Inc.</name>
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        <name>Citibank NA</name>
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        <name>SFS Auto Receivables Securitization Trust</name>
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        <name>Apollo Debt Solutions BDC</name>
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        <name>Fiesta Purchaser, Inc.</name>
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        <name>Aqua Finance Trust</name>
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        <name>Permian Resources Operating LLC</name>
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        <name>Garda World Security Corp.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>American Express Co.</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>United States of America</name>
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        <name>LBM Acquisition LLC</name>
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        <name>Hyatt Hotels Corp.</name>
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        <title>Hyatt Hotels Corp.</title>
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        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
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        <title>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</title>
        <cusip>05974EAA8</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Simmons Foods, Inc.</name>
        <lei>N/A</lei>
        <title>Simmons Foods, Inc.</title>
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          <isin value="US82873MAA18"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418EB82</cusip>
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          <isin value="US31418EB825"/>
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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>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Starwood Property Trust, Inc.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>Starwood Property Trust, Inc.</title>
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          <isin value="US85571BBG95"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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      <invstOrSec>
        <name>Dell Equipment Finance Trust</name>
        <lei>N/A</lei>
        <title>Dell Equipment Finance Trust, Series 2023-3, Class A3</title>
        <cusip>24702EAC4</cusip>
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          <isin value="US24702EAC49"/>
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        <balance>412248.03000000</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>2029-04-23</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
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        <cusip>69007TAB0</cusip>
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          <isin value="US69007TAB08"/>
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        <balance>327000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>325168.80000000</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>2027-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2022-S1, Class A</title>
        <cusip>68267HAA5</cusip>
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          <isin value="US68267HAA59"/>
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        <balance>515504.29000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-14</maturityDt>
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          <annualizedRt>4.13000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CyrusOne Data Centers Issuer I LLC</name>
        <lei>N/A</lei>
        <title>CyrusOne Data Centers Issuer I LLC, Series 2025-1A, Class A2</title>
        <cusip>23284BAJ3</cusip>
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          <isin value="US23284BAJ35"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357411.18000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.91000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC MSCR Trust</name>
        <lei>529900M14O2Z3FO2N217</lei>
        <title>FHLMC MSCR Trust, Series 2025-MN10, Class M2</title>
        <cusip>35563UAB4</cusip>
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          <isin value="US35563UAB44"/>
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        <balance>1960000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1955811.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.20474120</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Stagwell Global LLC</name>
        <lei>984500904E015Z0C1F82</lei>
        <title>Stagwell Global LLC</title>
        <cusip>59565JAA9</cusip>
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          <isin value="US59565JAA97"/>
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        <balance>386000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>374778.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
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          <isin value="US670001AN69"/>
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        <balance>297000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>299940.30000000</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>2033-08-15</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Pebblebrook Hotel LP</name>
        <lei>N/A</lei>
        <title>Pebblebrook Hotel LP</title>
        <cusip>70510LAA7</cusip>
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          <isin value="US70510LAA70"/>
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        <balance>162000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>164326.32000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Station Casinos LLC</name>
        <lei>5493004E7Q60TX54WL62</lei>
        <title>Station Casinos LLC</title>
        <cusip>857691AH2</cusip>
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          <isin value="US857691AH24"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>169762.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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        <cusip>05612TAA3</cusip>
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          <isin value="US05612TAA34"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>420131.75000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-15</maturityDt>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Carvana Auto Receivables Trust, Series 2025-P2, Class A4</title>
        <cusip>14688YAD7</cusip>
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          <isin value="US14688YAD76"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>504610.25000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Consolidated Communications LLC</name>
        <lei>N/A</lei>
        <title>Consolidated Communications LLC, Series 2025-1A, Class B</title>
        <cusip>209031AB9</cusip>
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          <isin value="US209031AB98"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2060100.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Microchip Technology, Inc.</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology, Inc.</title>
        <cusip>595017BL7</cusip>
        <identifiers>
          <isin value="US595017BL79"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>332060.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cushman &amp; Wakefield US Borrower LLC</name>
        <lei>549300870CMN3WI5IF97</lei>
        <title>Cushman &amp; Wakefield US Borrower LLC</title>
        <cusip>23166MAA1</cusip>
        <identifiers>
          <isin value="US23166MAA18"/>
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        <balance>244000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246115.48000000</valUSD>
        <pctVal>0.032897079795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>ANZ New Zealand Int'l Ltd.</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>Mizuho Financial Group, Inc.</name>
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        <name>Merchants Fleet Funding LLC</name>
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        <name>Matthews International Corp.</name>
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        <name>GGAM Finance Ltd.</name>
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        <name>Louisville Gas and Electric Co.</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
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        <name>GM Financial Revolving Receivables Trust</name>
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        <name>SS&amp;C Technologies, Inc.</name>
        <lei>549300KY09TR3J12JU49</lei>
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        <name>NCL Corp. Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
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        <name>Madison IAQ LLC</name>
        <lei>549300IXDNBXNHUPBU73</lei>
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        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares, Inc.</title>
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      <invstOrSec>
        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>EnerSys</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>Hillenbrand, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Stellantis Financial Underwritten Enhanced Lease Trust</name>
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        <name>F&amp;G Global Funding</name>
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        <name>Hudsons Bay Simon JV Trust</name>
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        <name>Public Service Co. of New Hampshire</name>
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        <name>FHLMC Pool</name>
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        <name>USB Auto Owner Trust</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>Magnera Corp.</name>
        <lei>549300LDQLQBT38QDY28</lei>
        <title>Magnera Corp.</title>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>New England Power Co.</name>
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        <name>Ontario Gaming GTA LP</name>
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        <name>Republic Finance Issuance Trust</name>
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      <invstOrSec>
        <name>ACCO Brands Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>CarMax Select Receivables Trust</name>
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      <invstOrSec>
        <name>Camelot Return Merger Sub, Inc.</name>
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        <name>CommScope LLC</name>
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        <name>Pike Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ATS Corp.</name>
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        <title>ATS Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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          <maturityDt>2029-01-15</maturityDt>
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        <name>SFS Auto Receivables Securitization Trust</name>
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        <name>GNMA</name>
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        <name>N/A</name>
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        <name>McGraw-Hill Education, Inc.</name>
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        <name>New Mountain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>6.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Acrisure LLC</name>
        <lei>N/A</lei>
        <title>Acrisure LLC</title>
        <cusip>00489LAK9</cusip>
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          <isin value="US00489LAK98"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>344143.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GECU Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>GECU Auto Receivables Trust, Series 2023-1A, Class A3</title>
        <cusip>36169EAC4</cusip>
        <identifiers>
          <isin value="US36169EAC49"/>
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        <balance>280027.84000000</balance>
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        <curCd>USD</curCd>
        <valUSD>281551.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
        <cusip>42824CCA5</cusip>
        <identifiers>
          <isin value="US42824CCA53"/>
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        <balance>565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>561845.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Blue Owl Technology Finance Corp.</name>
        <lei>254900G5EZJSOD3UKL16</lei>
        <title>Blue Owl Technology Finance Corp.</title>
        <cusip>69121JAB3</cusip>
        <identifiers>
          <isin value="US69121JAB35"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>345663.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2024-1, Class A3</title>
        <cusip>29375PAC4</cusip>
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          <isin value="US29375PAC41"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152829.68000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.16000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AdaptHealth LLC</name>
        <lei>N/A</lei>
        <title>AdaptHealth LLC</title>
        <cusip>00653VAE1</cusip>
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          <isin value="US00653VAE11"/>
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        <balance>198000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188729.64000000</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>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ADQ7</cusip>
        <identifiers>
          <isin value="US44891ADQ76"/>
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        <balance>470000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>479465.24000000</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>2030-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Regional Management Issuance Trust</name>
        <lei>N/A</lei>
        <title>Regional Management Issuance Trust, Series 2024-1, Class A</title>
        <cusip>758983AA8</cusip>
        <identifiers>
          <isin value="US758983AA85"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>153465.87000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.83000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Beacon Mobility Corp.</name>
        <lei>254900EBTYFG24UQEM31</lei>
        <title>Beacon Mobility Corp.</title>
        <cusip>073644AA4</cusip>
        <identifiers>
          <isin value="US073644AA49"/>
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        <balance>91000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94508.05000000</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>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Frontier Issuer LLC</name>
        <lei>N/A</lei>
        <title>Frontier Issuer LLC, Series 2024-1, Class A2</title>
        <cusip>35910EAK0</cusip>
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          <isin value="US35910EAK01"/>
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        <balance>170000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>173956.24000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ally Financial, Inc.</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial, Inc.</title>
        <cusip>02005NCA6</cusip>
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          <isin value="US02005NCA63"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>907247.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.54800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freedom Mortgage Corp.</name>
        <lei>549300LYRWPSYPK6S325</lei>
        <title>Freedom Mortgage Corp.</title>
        <cusip>35640YAK3</cusip>
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          <isin value="US35640YAK38"/>
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        <balance>228000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.00000000</annualizedRt>
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      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>CarMax Auto Owner Trust, Series 2025-2, Class A3</title>
        <cusip>14320AAD3</cusip>
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          <isin value="US14320AAD37"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.48000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140XBNR7</cusip>
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          <isin value="US3140XBNR72"/>
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        <balance>2191942.74000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2027306.58000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust, Series 2025-BMS, Class A</title>
        <cusip>46596CAA4</cusip>
        <identifiers>
          <isin value="US46596CAA45"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>319700.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>New York Life Global Funding</title>
        <cusip>64952WFG3</cusip>
        <identifiers>
          <isin value="US64952WFG33"/>
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        <balance>570000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>587484.07000000</valUSD>
        <pctVal>0.078526187500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Champ Acquisition Corp.</name>
        <lei>N/A</lei>
        <title>Champ Acquisition Corp.</title>
        <cusip>15807XAA8</cusip>
        <identifiers>
          <isin value="US15807XAA81"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191658.60000000</valUSD>
        <pctVal>0.025618088945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <name>1261229 BC Ltd.</name>
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        <name>Wells Fargo &amp; Co.</name>
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      <invstOrSec>
        <name>Bank of America NA</name>
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        <name>Olympus Water US Holding Corp.</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00MW9TYF35"/>
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              <counterpartyName>ICE Clear Europe</counterpartyName>
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      <invstOrSec>
        <name>LYB International Finance III LLC</name>
        <lei>984500A51LA0B8EB4053</lei>
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        <cusip>50249AAM5</cusip>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
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        <invCountry>KY</invCountry>

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        <name>Northern Oil &amp; Gas, Inc.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>Northern Oil &amp; Gas, Inc.</title>
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        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
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        <name>Helios Software Holdings, Inc.</name>
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        <title>Helios Software Holdings, Inc.</title>
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        <name>CSMC LLC</name>
        <lei>549300818AKCJ4Q9TD76</lei>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
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        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Rocket Cos., Inc.</title>
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      <invstOrSec>
        <name>Crockett Partners Equipment Co. IIA LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-20</maturityDt>
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      <invstOrSec>
        <name>Norinchukin Bank (The)</name>
        <lei>5493007VSMFZCPV1NB83</lei>
        <title>Norinchukin Bank (The)</title>
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        <name>Hyundai Capital America</name>
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        <name>Fortitude Global Funding</name>
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        <name>Octane Receivables Trust</name>
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        <name>CGI, Inc.</name>
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        <name>American National Global Funding</name>
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        <name>Aretec Group, Inc.</name>
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        <name>GLS Auto Select Receivables Trust</name>
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        <name>Osaic Holdings, Inc.</name>
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        <name>N/A</name>
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        <title>Japan 10 Year Bond</title>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>United States of America</name>
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        <name>Marriott International, Inc.</name>
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        <name>Biogen, Inc.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
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        <name>United States of America</name>
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        <name>Alliant Energy Corp.</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>Alliant Energy Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Graphic Packaging International LLC</name>
        <lei>SO75N4VY5NXGQSK8YQ65</lei>
        <title>Graphic Packaging International LLC</title>
        <cusip>38869AAE7</cusip>
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        <name>United States of America</name>
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        <name>Solstice Advanced Materials, Inc.</name>
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        <name>Carvana Auto Receivables Trust</name>
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        <name>CACI International, Inc.</name>
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        <name>Watco Cos. LLC</name>
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        <name>Lincoln Financial Global Funding</name>
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        <name>Athene Global Funding</name>
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        <name>Main Street Capital Corp.</name>
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        <name>RGA Global Funding</name>
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        <name>LPL Holdings, Inc.</name>
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        <name>RB Global Holdings, Inc.</name>
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        <name>Medline Borrower LP</name>
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      <invstOrSec>
        <name>Trivium Packaging Finance BV</name>
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      <invstOrSec>
        <name>M&amp;T Bank Auto Receivables Trust</name>
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        <name>Veritiv Operating Co.</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>LAD Auto Receivables Trust</name>
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        <name>EquipmentShare.com, Inc.</name>
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        <name>TCO Commercial Mortgage Trust</name>
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        <name>Credit Agricole SA</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>Brighthouse Financial Global Funding</name>
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        <name>CNH Industrial Capital LLC</name>
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        <name>Royalty Pharma plc</name>
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        <name>Post Road Equipment Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Apollo Debt Solutions BDC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>1011778 BC ULC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Churchill Downs, Inc.</name>
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        <name>PepsiCo, Inc.</name>
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        <name>KBC Group NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>Hertz Vehicle Financing III LLC</name>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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        <name>Morgan Stanley Direct Lending Fund</name>
        <lei>549300QEX22T2J8IB029</lei>
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        <name>FHLMC</name>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <name>N/A</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>Neogen Food Safety Corp.</name>
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        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Elevance Health, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Elevance Health, Inc.</title>
        <cusip>036752BH5</cusip>
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        <balance>660000.00000000</balance>
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        <valUSD>657190.58000000</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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      <invstOrSec>
        <name>Gen Digital, Inc.</name>
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        <name>GNMA</name>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
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        <name>Allied Universal Holdco LLC</name>
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        <name>FHLMC Pool</name>
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        <name>Olympus Water US Holding Corp.</name>
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        <name>Chevron USA, Inc.</name>
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        <name>Swedbank AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Unisys Corp.</name>
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        <name>Waste Pro USA, Inc.</name>
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        <name>Main Street Capital Corp.</name>
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        <name>Point Broadband Funding LLC</name>
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        <name>SBNA Auto Lease Trust</name>
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        <name>Barings BDC, Inc.</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <curCd>USD</curCd>
        <valUSD>239128.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
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        <curCd>USD</curCd>
        <valUSD>602795.16000000</valUSD>
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        <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>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
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        <title>Garda World Security Corp.</title>
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        <identifiers>
          <isin value="US36485MAP41"/>
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        <balance>484000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501932.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
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        <balance>296000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>303573.13000000</valUSD>
        <pctVal>0.040577169226</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hillenbrand, Inc.</name>
        <lei>U246OE781574J2BUD366</lei>
        <title>Hillenbrand, Inc.</title>
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        <identifiers>
          <isin value="US431571AF58"/>
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        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297235.50000000</valUSD>
        <pctVal>0.039730048518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</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>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
        <title>Chesapeake Funding II LLC, Series 2023-1A, Class A1</title>
        <cusip>165183CU6</cusip>
        <identifiers>
          <isin value="US165183CU69"/>
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        <balance>152155.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153101.79000000</valUSD>
        <pctVal>0.020464384452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</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>MSD Investment Corp.</name>
        <lei>549300K4HV7AOWFSAO65</lei>
        <title>MSD Investment Corp.</title>
        <cusip>55354LAA7</cusip>
        <identifiers>
          <isin value="US55354LAA70"/>
        </identifiers>
        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136636.96000000</valUSD>
        <pctVal>0.018263609327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-31</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>
    </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>
