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        <title>Omega Healthcare Investors, Inc.</title>
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        <name>Virginia Electric and Power Co.</name>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>ENEL Finance International NV</name>
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      <invstOrSec>
        <name>Aris Mining Corp.</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Unigel Netherlands Holding Corp. BV</name>
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      <invstOrSec>
        <name>MPLX LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Buckeye Partners LP</name>
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        <title>Buckeye Partners LP</title>
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      <invstOrSec>
        <name>Termocandelaria Power SA</name>
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        <invCountry>ES</invCountry>

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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>AutoZone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AutoZone, Inc.</title>
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        <name>ALLO Issuer LLC</name>
        <lei>N/A</lei>
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          <isin value="US01983KAW45"/>
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        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>OCP SA</name>
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        <name>CSTL Commercial Mortgage Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <name>GATX Corp.</name>
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        <name>McGraw-Hill Education, Inc.</name>
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        <name>Empresa Electrica Angamos SA</name>
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        <name>Permian Resources Operating LLC</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Peru LNG Srl</name>
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        <name>SG Commercial Mortgage Securities Trust</name>
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        <name>Nutrien Ltd.</name>
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        <name>Unigel Luxembourg SA</name>
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        <name>Buffalo Energy Mexico Holdings</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>FHLMC Pool</name>
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        <name>NJ Trust</name>
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        <name>Invesco US CLO Ltd.</name>
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        <invCountry>JE</invCountry>
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        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
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        <name>Magnetite XXIII Ltd.</name>
        <lei>549300WG00K34O9YA435</lei>
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        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2024-SFR4, Class D</title>
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        <name>Vivint Solar Financing V LLC</name>
        <lei>N/A</lei>
        <title>Vivint Solar Financing V LLC, Series 2018-1A, Class A</title>
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        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
        <cusip>65473PAR6</cusip>
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        <balance>134000.00000000</balance>
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        <valUSD>138522.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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          <isin value="US92332YAD31"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>National Fuel Gas Co.</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freedom Mortgage Holdings LLC</name>
        <lei>254900ROJ91RGM43S156</lei>
        <title>Freedom Mortgage Holdings LLC</title>
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          <isin value="US35641AAC27"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55839.30000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
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          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>ICG US CLO I Ltd.</name>
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          <isin value="US449278AJ94"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
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          <isin value="US87470LAM37"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55432.30000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2021-B23, Class XA</title>
        <cusip>08162RAF4</cusip>
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          <isin value="US08162RAF47"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.35178920</annualizedRt>
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      <invstOrSec>
        <name>Phillips Edison Grocery Center Operating Partnership I LP</name>
        <lei>549300WUPIVS6ZE0ZI51</lei>
        <title>Phillips Edison Grocery Center Operating Partnership I LP</title>
        <cusip>71845JAB4</cusip>
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        <balance>208000.00000000</balance>
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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>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Amortizing Residential Collateral Trust</name>
        <lei>N/A</lei>
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        <cusip>86359AHE6</cusip>
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        <balance>1983141.79000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40100000</annualizedRt>
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        <name>Simpar Europe SA</name>
        <lei>54930068BSUST41D5C30</lei>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>Petronas Capital Ltd.</name>
        <lei>549300G7YFX3540OYR85</lei>
        <title>Petronas Capital Ltd.</title>
        <cusip>N/A</cusip>
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          <annualizedRt>5.34000000</annualizedRt>
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        <name>Empresas Publicas de Medellin ESP</name>
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        <title>Empresas Publicas de Medellin ESP</title>
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        <name>PSEG Power LLC</name>
        <lei>N/A</lei>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
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        <name>JSW Infrastructure Ltd.</name>
        <lei>3358003E3YFK92C9WX80</lei>
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          <isin value="USY4470XAA10"/>
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        <balance>400000.00000000</balance>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DUA31</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2054-09-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH Industrial Capital LLC</title>
        <cusip>12592BAW4</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>146971.79000000</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>2031-03-07</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <name>BX Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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          <isin value="US38145GAR11"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-21</maturityDt>
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      <invstOrSec>
        <name>Liberty Mutual Group, Inc.</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group, Inc.</title>
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          <isin value="US53079EBR45"/>
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        <balance>240000.00000000</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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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31418CBF05"/>
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        <balance>438263.37000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Vale Overseas Ltd.</name>
        <lei>254900BA3U6G5DNV5V04</lei>
        <title>Vale Overseas Ltd.</title>
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          <isin value="US91911TAS24"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
        <title>Merrill Lynch Mortgage Investors Trust, Series 2006-HE4, Class A2C</title>
        <cusip>59023EAD0</cusip>
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          <isin value="US59023EAD04"/>
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        <balance>4892891.58000000</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>2037-07-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U4J9</cusip>
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          <isin value="US95000U4J91"/>
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        <balance>581000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.84400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Orbia Advance Corp. SAB de CV</name>
        <lei>549300MVHZ20SBIOEQ79</lei>
        <title>Orbia Advance Corp. SAB de CV</title>
        <cusip>N/A</cusip>
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          <isin value="USP57908AF58"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>GGAM Finance Ltd.</name>
        <lei>254900X2QXEN0FVXRF65</lei>
        <title>GGAM Finance Ltd.</title>
        <cusip>36170JAD8</cusip>
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          <isin value="US36170JAD81"/>
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        <balance>190000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>Yinson Bergenia Production BV</name>
        <lei>549300JDIAWKPMZD5256</lei>
        <title>Yinson Bergenia Production BV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CTR Partnership LP</name>
        <lei>N/A</lei>
        <title>CTR Partnership LP</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Blackbird Capital II Aircraft Lease Ltd.</name>
        <lei>N/A</lei>
        <title>Blackbird Capital II Aircraft Lease Ltd., Series 2021-1A, Class B</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-15</maturityDt>
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          <annualizedRt>3.44600000</annualizedRt>
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      <invstOrSec>
        <name>Canyon Capital CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Canyon Capital CLO Ltd., Series 2017-1A, Class DR</title>
        <cusip>13876GAQ1</cusip>
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          <isin value="US13876GAQ10"/>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
        <cusip>N/A</cusip>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Stellantis Financial Underwritten Enhanced Lease Trust</name>
        <lei>N/A</lei>
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        <cusip>85855EAF3</cusip>
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        <balance>400000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.44000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
        <cusip>571748CF7</cusip>
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        <name>Northrop Grumman Corp.</name>
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        <name>Transelec SA</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Vamos Europe SA</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Element Fleet Management Corp.</name>
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        <name>Castlelake Aircraft Structured Trust</name>
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        <name>FNMA</name>
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        <name>McGraw-Hill Education, Inc.</name>
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        <name>ACE Securities Corp. Home Equity Loan Trust</name>
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        <name>TransDigm, Inc.</name>
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        <name>FNMA</name>
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        <name>Nabors Industries, Inc.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Radiology Partners, Inc.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Rockland Park CLO Ltd.</name>
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        <name>Academy Ltd.</name>
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        <name>JPMDB Commercial Mortgage Securities Trust</name>
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        <name>Illumina, Inc.</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
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        <name>Upstart Securitization Trust</name>
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        <name>BANK5</name>
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        <name>Dryden 41 Senior Loan Fund</name>
        <lei>5493000CMI5L15ZSNM78</lei>
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        <name>GGP Trust</name>
        <lei>N/A</lei>
        <title>GGP Trust, Series 2026-TY, Class A</title>
        <cusip>373914AA8</cusip>
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        <name>Rutas 2 &amp; 7 Finance Ltd.</name>
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        <name>Peebles Park CLO Ltd.</name>
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        <name>Chpe LLC</name>
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        <name>Chile Electricity Lux MPC Sarl</name>
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        <name>Bayswater Park CLO Ltd.</name>
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        <name>CitiMortgage Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2015-DC1, Class C</title>
        <cusip>12629NAL9</cusip>
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          <isin value="US12629NAL91"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89191.89000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.42138680</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
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          <isin value="US808513CL74"/>
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        <balance>148000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144637.00000000</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>2036-11-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.91400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York Life Insurance Co.</name>
        <lei>TAE73CY392TBWJ3O3305</lei>
        <title>New York Life Insurance Co.</title>
        <cusip>64952GAF5</cusip>
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          <isin value="US64952GAF54"/>
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        <balance>124000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Unigel Luxembourg SA</name>
        <lei>213800Y16R77O7LH7X62</lei>
        <title>Unigel Luxembourg SA</title>
        <cusip>904752AD4</cusip>
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          <isin value="US904752AD40"/>
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        <balance>26616.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>266.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
        <cusip>651229BF2</cusip>
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          <isin value="US651229BF23"/>
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        <balance>60000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc., Series GG</title>
        <cusip>17327CBC6</cusip>
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          <isin value="US17327CBC64"/>
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        <balance>148000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151026.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140XCTW8</cusip>
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          <isin value="US3140XCTW86"/>
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        <balance>1400212.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1255340.09000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chord Energy Corp.</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
        <title>Chord Energy Corp.</title>
        <cusip>674215AQ1</cusip>
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          <isin value="US674215AQ11"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75281.25000000</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>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trans-Allegheny Interstate Line Co.</name>
        <lei>N/A</lei>
        <title>Trans-Allegheny Interstate Line Co.</title>
        <cusip>893045AF1</cusip>
        <identifiers>
          <isin value="US893045AF16"/>
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        <balance>518000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522407.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>91282CEJ6</cusip>
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          <isin value="US91282CEJ62"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2544354.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FMC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>FMC GMSR Issuer Trust, Series 2020-GT1, Class A</title>
        <cusip>30259RAE5</cusip>
        <identifiers>
          <isin value="US30259RAE53"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>1970345.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.44999960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cheniere Energy, Inc.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy, Inc.</title>
        <cusip>16411RAQ2</cusip>
        <identifiers>
          <isin value="US16411RAQ20"/>
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        <balance>24000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24046.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAMLL Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Commercial Mortgage Securities Trust, Series 2016-ISQ, Class C</title>
        <cusip>05523GAJ0</cusip>
        <identifiers>
          <isin value="US05523GAJ04"/>
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        <balance>516000.00000000</balance>
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        <valUSD>191684.51000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.72651120</annualizedRt>
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      <invstOrSec>
        <name>Bain Capital Credit CLO Ltd.</name>
        <lei>254900XLVE4635MESI73</lei>
        <title>Bain Capital Credit CLO Ltd., Series 2023-2A, Class A1R</title>
        <cusip>05684GAS5</cusip>
        <identifiers>
          <isin value="US05684GAS57"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000766.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.99523040</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2020-C6, Class F5TC</title>
        <cusip>05492TBK5</cusip>
        <identifiers>
          <isin value="US05492TBK51"/>
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        <balance>644000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>431272.57000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.81129480</annualizedRt>
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      <invstOrSec>
        <name>Brsp 2026-Fl3 Ltd.</name>
        <lei>N/A</lei>
        <title>Brsp 2026-Fl3 Ltd., Series 2026-FL3, Class D</title>
        <cusip>116686AJ5</cusip>
        <identifiers>
          <isin value="US116686AJ53"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>470543.04000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.48902880</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>Waste Connections, Inc.</name>
        <lei>549300HDLRTPBQU69P29</lei>
        <title>Waste Connections, Inc.</title>
        <cusip>94106BAJ0</cusip>
        <identifiers>
          <isin value="US94106BAJ08"/>
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        <balance>223000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225718.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>THL Credit Wind River CLO Ltd.</name>
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      <invstOrSec>
        <name>Exelon Corp.</name>
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      <invstOrSec>
        <name>SK hynix, Inc.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Celanese US Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
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        <name>NXP BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Esentia Energy Development SAB de CV</name>
        <lei>254900Q2VJTZZLC8UL64</lei>
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        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
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        <name>Triton Container International Ltd.</name>
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        <name>Uniti Services LLC</name>
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        <name>Lamar Media Corp.</name>
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        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
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        <invCountry>ZA</invCountry>
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        <name>Caturus Energy LLC</name>
        <lei>254900LM244SIFQ1QY31</lei>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Genesee &amp; Wyoming, Inc.</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
        <title>Genesee &amp; Wyoming, Inc.</title>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <maturityDt>2035-07-22</maturityDt>
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      <invstOrSec>
        <name>Columbus McKinnon Corp.</name>
        <lei>549300W3HQB0HO1F3G69</lei>
        <title>Columbus McKinnon Corp.</title>
        <cusip>199333AK1</cusip>
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        <balance>115000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>Veralto Corp.</title>
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          <isin value="US92338CAP86"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234819.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-5C29, Class A3</title>
        <cusip>05555PAC6</cusip>
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          <isin value="US05555PAC68"/>
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        <balance>527000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>531862.84000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-09-15</maturityDt>
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          <annualizedRt>5.20800000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Panama</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>Republic of Panama</title>
        <cusip>698299CC6</cusip>
        <identifiers>
          <isin value="US698299CC62"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200070.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.66200000</annualizedRt>
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      <invstOrSec>
        <name>Bunge Ltd. Finance Corp.</name>
        <lei>549300QHC068L40NNM71</lei>
        <title>Bunge Ltd. Finance Corp.</title>
        <cusip>120568BF6</cusip>
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          <isin value="US120568BF69"/>
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        <balance>289000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279252.23000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-17</maturityDt>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KBZ2</cusip>
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          <isin value="US65339KBZ21"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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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>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58021.70000000</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>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Crown Castle, Inc.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle, Inc.</title>
        <cusip>22822VBC4</cusip>
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          <isin value="US22822VBC46"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>396970.32000000</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>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QTS Issuer ABS I LLC</name>
        <lei>N/A</lei>
        <title>QTS Issuer ABS I LLC, Series 2025-1A, Class B</title>
        <cusip>74690DAB7</cusip>
        <identifiers>
          <isin value="US74690DAB73"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>432799.11000000</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>2055-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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          <isin value="US91282CGW55"/>
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        <balance>2320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2534887.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RCK6</cusip>
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          <isin value="US83368RCK68"/>
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        <balance>308000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>303934.89000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.43900000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2025-V14, Class AM</title>
        <cusip>08164BAG5</cusip>
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          <isin value="US08164BAG59"/>
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        <balance>204000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209314.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.08979960</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2026-5C8, Class C</title>
        <cusip>95005BAH3</cusip>
        <identifiers>
          <isin value="US95005BAH33"/>
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        <balance>351000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>344338.16000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55400000</annualizedRt>
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      <invstOrSec>
        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
        <cusip>620076CB3</cusip>
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          <isin value="US620076CB33"/>
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        <balance>222000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Element Fleet Management Corp.</name>
        <lei>5493000PGBS1C22ELQ16</lei>
        <title>Element Fleet Management Corp.</title>
        <cusip>286181AP7</cusip>
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          <isin value="US286181AP72"/>
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        <balance>266000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-25</maturityDt>
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          <annualizedRt>5.03700000</annualizedRt>
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      <invstOrSec>
        <name>PRPM</name>
        <lei>N/A</lei>
        <title>PRPM Trust, Series 2025-3, Class A1</title>
        <cusip>74449DAA3</cusip>
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          <isin value="US74449DAA37"/>
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        <balance>715612.71000000</balance>
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        <valUSD>715360.17000000</valUSD>
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          <maturityDt>2030-05-25</maturityDt>
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          <annualizedRt>6.25500000</annualizedRt>
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      <invstOrSec>
        <name>Bell Canada</name>
        <lei>5493000G3EFX9S7TDE29</lei>
        <title>Bell Canada</title>
        <cusip>0778FPAQ2</cusip>
        <identifiers>
          <isin value="US0778FPAQ20"/>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294080.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Public Service Co.</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>Arizona Public Service Co.</title>
        <cusip>040555DJ0</cusip>
        <identifiers>
          <isin value="US040555DJ01"/>
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        <balance>554000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>554447.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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        <name>Dominican Republic Government Bond</name>
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        <name>Iskandar Enterprise LLC</name>
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        <name>DTE Energy Co.</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>Penn Entertainment, Inc.</name>
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        <name>Intel Corp.</name>
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        <name>Sasol Financing USA LLC</name>
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        <name>Eaton Corp.</name>
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        <name>QXO Building Products, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Oryx Funding LLC</name>
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        <name>Acushnet Co.</name>
        <lei>549300H805O14KEFES79</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vertiv Group Corp.</name>
        <lei>549300ZT8RQ5VK10E643</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Imperial Brands Finance plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05552XBG25"/>
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        <balance>653000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.68900000</annualizedRt>
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      <invstOrSec>
        <name>Vantage Data Centers Issuer LLC</name>
        <lei>N/A</lei>
        <title>Vantage Data Centers Issuer LLC, Series 2025-3A, Class B</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-15</maturityDt>
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        <name>Bank of Nova Scotia (The)</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>Bank of Nova Scotia (The)</title>
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        <balance>91000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.81300000</annualizedRt>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2025-SFR4, Class A</title>
        <cusip>74290JAA0</cusip>
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          <isin value="US74290JAA07"/>
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        <balance>6250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class C</title>
        <cusip>94989WAZ0</cusip>
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          <isin value="US94989WAZ05"/>
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        <balance>543.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>541.09000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.92102000</annualizedRt>
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      <invstOrSec>
        <name>BSPRT Issuer Ltd.</name>
        <lei>N/A</lei>
        <title>BSPRT Issuer Ltd., Series 2023-FL10, Class B</title>
        <cusip>05610VAE2</cusip>
        <identifiers>
          <isin value="US05610VAE20"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.89038920</annualizedRt>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2022-BNK39, Class AS</title>
        <cusip>06539VAR9</cusip>
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          <isin value="US06539VAR96"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.18100000</annualizedRt>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DVMQ5</cusip>
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          <isin value="US3132DVMQ58"/>
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        <balance>1340109.63000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Retained Vantage Data Centers Issuer LLC</name>
        <lei>254900N4NW6XZ9B4HM15</lei>
        <title>Retained Vantage Data Centers Issuer LLC, Series 2023-1A, Class B</title>
        <cusip>76134KAC8</cusip>
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          <isin value="US76134KAC80"/>
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        <balance>1500000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
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          <maturityDt>2048-09-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Honeywell Aerospace, Inc.</name>
        <lei>213800ZUAQRBYL67JS90</lei>
        <title>Honeywell Aerospace, Inc.</title>
        <cusip>43849RAG0</cusip>
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          <isin value="US43849RAG02"/>
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        <balance>238000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-03-16</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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        <name>WSP Global, Inc.</name>
        <lei>549300IQ87LU6X6ERQ78</lei>
        <title>WSP Global, Inc.</title>
        <cusip>92938WAG8</cusip>
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          <isin value="US92938WAG87"/>
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        <balance>350000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.03900000</annualizedRt>
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        <name>Captree Park CLO Ltd.</name>
        <lei>254900T5FZQKDOCWVD69</lei>
        <title>Captree Park CLO Ltd., Series 2024-1A, Class A1R</title>
        <cusip>14074EAN1</cusip>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SN9</cusip>
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          <isin value="US912810SN90"/>
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        <balance>6400000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing, Inc.</title>
        <cusip>527298CM3</cusip>
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          <isin value="US527298CM39"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189760.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
        <cusip>494550AW6</cusip>
        <identifiers>
          <isin value="US494550AW68"/>
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        <balance>127000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>141906.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Agrosuper SA</name>
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      <invstOrSec>
        <name>Cathedral Lake VIII Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Builders FirstSource, Inc.</name>
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        <name>JBS NV</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Esentia Energy Development SAB de CV</name>
        <lei>254900Q2VJTZZLC8UL64</lei>
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        <name>ADI Escrow Issuer LLC</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QUBG0</cusip>
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          <isin value="US3140QUBG00"/>
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        <invCountry>US</invCountry>
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        <name>Virginia Electric and Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co.</title>
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        <name>Archrock Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco Santander Chile</name>
        <lei>3YJP8HORPAEXJ80D6368</lei>
        <title>Banco Santander Chile</title>
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        <invCountry>CL</invCountry>
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        <name>Corp. Nacional del Cobre de Chile</name>
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        <name>Marvell Technology, Inc.</name>
        <lei>254900WVU0BM7ZCJ9E93</lei>
        <title>Marvell Technology, Inc.</title>
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        <name>Harvest Midstream I LP</name>
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        <title>Harvest Midstream I LP</title>
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        <name>Progress Residential Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <name>Saavi Energia Sarl</name>
        <lei>254900A2V0IO8K56UH35</lei>
        <title>Saavi Energia Sarl</title>
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        <name>Full House Resorts, Inc.</name>
        <lei>5493009DKIWW0H901Y82</lei>
        <title>Full House Resorts, Inc.</title>
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        <name>Taylor Morrison Communities, Inc.</name>
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        <name>GNMA</name>
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        <name>CAP SA</name>
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        <name>Novelis Corp.</name>
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        <name>NiSource, Inc.</name>
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        <name>FNMA</name>
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        <name>Wayfair LLC</name>
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        <name>Bioceanico Sovereign Certificate Ltd.</name>
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        <name>Carlyle Global Market Strategies CLO Ltd.</name>
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        <name>GFL Environmental Holdings US, Inc.</name>
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        <name>Antero Midstream Partners LP</name>
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        <name>RFR Trust</name>
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        <name>Fondo MIVIVIENDA SA</name>
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        <title>Fondo MIVIVIENDA SA</title>
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        <invCountry>PE</invCountry>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
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        <name>Magnetite XLII Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Discovery Global Holdings, Inc.</name>
        <lei>549300DXR29GD4N0A520</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>nVent Finance Sarl</name>
        <lei>549300KO1OQ4MVFB6X02</lei>
        <title>nVent Finance Sarl</title>
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          <isin value="US67078AAF03"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Westinghouse Air Brake Technologies Corp.</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>Westinghouse Air Brake Technologies Corp.</title>
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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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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <balance>1943963.25000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-20</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.40000000</annualizedRt>
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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>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12500000</annualizedRt>
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        <name>Directv Financing LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US90276UBD28"/>
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          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.15389960</annualizedRt>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>46115HBQ9</cusip>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.19800000</annualizedRt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>05557AAG8</cusip>
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          <isin value="US05557AAG85"/>
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        <balance>234500.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-02-15</maturityDt>
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          <annualizedRt>5.81339880</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>163000.00000000</balance>
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          <maturityDt>2037-01-30</maturityDt>
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      <invstOrSec>
        <name>Travelers Cos., Inc. (The)</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos., Inc. (The)</title>
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        <balance>154000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2043-08-01</maturityDt>
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          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Frontera Energy Corp.</name>
        <lei>A25574TZFLBNK7NWQT47</lei>
        <title>Frontera Energy Corp.</title>
        <cusip>N/A</cusip>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-21</maturityDt>
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      <invstOrSec>
        <name>NCL Corp. Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL Corp. Ltd.</title>
        <cusip>62886HBZ3</cusip>
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        <balance>45000.00000000</balance>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Rivers Enterprise Borrower LLC</name>
        <lei>N/A</lei>
        <title>Rivers Enterprise Borrower LLC</title>
        <cusip>76884GAA3</cusip>
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        <balance>50000.00000000</balance>
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        <name>FHLMC Pool</name>
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        <name>BANK5</name>
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        <name>Tierra Mojada Luxembourg II Sarl</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Teva Pharmaceutical Finance Co. LLC</name>
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        <name>Store Capital LLC</name>
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        <name>RBSGC Mortgage Loan Trust</name>
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        <name>Duke Energy Corp.</name>
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        <name>MF1 Ltd.</name>
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        <name>Generadora de Gatun SA</name>
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        <name>Verisk Analytics, Inc.</name>
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        <name>NYC Trust</name>
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        <name>Duquesne Light Holdings, Inc.</name>
        <lei>4CUJ1D8WDXK9X7QI6B93</lei>
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      <invstOrSec>
        <name>Black Hills Corp.</name>
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        <title>Black Hills Corp.</title>
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        <name>T-Mobile USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Minejesa Capital BV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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      <invstOrSec>
        <name>TransCanada PipeLines Ltd.</name>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.54000000</annualizedRt>
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        <name>MAD Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US55616AAG22"/>
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        <balance>470000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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      <invstOrSec>
        <name>CIFC Funding 2025-VII Ltd.</name>
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        <name>Jersey Central Power &amp; Light Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SoFi Consumer Loan Program</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>Sound Point CLO XXVI Ltd.</name>
        <lei>N/A</lei>
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        <name>JSW Hydro Energy Ltd.</name>
        <lei>3358006ZP5KO7VUH2790</lei>
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        <invCountry>IN</invCountry>
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        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
        <title>WR Grace Holdings LLC</title>
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      <invstOrSec>
        <name>AES Espana BV</name>
        <lei>7245003VZ59682IZLJ86</lei>
        <title>AES Espana BV</title>
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        <invCountry>NL</invCountry>

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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RALI Trust</name>
        <lei>N/A</lei>
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        <cusip>74922UAK9</cusip>
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          <isin value="US74922UAK97"/>
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        <curCd>USD</curCd>
        <valUSD>579189.38000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Dominican Republic Government Bond</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP3579EDB04"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149049.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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      <invstOrSec>
        <name>Cheniere Energy, Inc.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy, Inc.</title>
        <cusip>16411RAN9</cusip>
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          <isin value="US16411RAN98"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>282269.96000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
        <cusip>682691AF7</cusip>
        <identifiers>
          <isin value="US682691AF77"/>
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        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98059.95000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>WEC Energy Group, Inc.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
        <title>WEC Energy Group, Inc.</title>
        <cusip>92939UAU0</cusip>
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          <isin value="US92939UAU07"/>
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        <balance>199000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197007.97000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>MF1 LLC</name>
        <lei>N/A</lei>
        <title>MF1 LLC, Series 2026-FL22, Class C</title>
        <cusip>59319GAG1</cusip>
        <identifiers>
          <isin value="US59319GAG10"/>
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        <balance>570000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>570351.46000000</valUSD>
        <pctVal>0.110770924639</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-18</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Meridian Arc Holdco LLC</name>
        <lei>N/A</lei>
        <title>Meridian Arc Holdco LLC</title>
        <cusip>58990CAA1</cusip>
        <identifiers>
          <isin value="US58990CAA18"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70028.70000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3622ADSU3</cusip>
        <identifiers>
          <isin value="US3622ADSU33"/>
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        <balance>2749114.37000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2349029.98000000</valUSD>
        <pctVal>0.456217334642</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
        <cusip>58933YBT1</cusip>
        <identifiers>
          <isin value="US58933YBT10"/>
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        <balance>344000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>346442.54000000</valUSD>
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        <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>5.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy, Inc., Series C</title>
        <cusip>25746UDG1</cusip>
        <identifiers>
          <isin value="US25746UDG13"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>286503.15000000</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>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Venture Global Plaquemines LNG LLC</name>
        <lei>549300TKP4I6OJ02BF90</lei>
        <title>Venture Global Plaquemines LNG LLC</title>
        <cusip>922966AC0</cusip>
        <identifiers>
          <isin value="US922966AC03"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114412.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3128MJSJ0</cusip>
        <identifiers>
          <isin value="US3128MJSJ03"/>
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        <balance>182347.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160549.33000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967QA2</cusip>
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          <isin value="US172967QA24"/>
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        <balance>233000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234008.94000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.95200000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 5057, Class AX</title>
        <cusip>3137F7HX6</cusip>
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          <isin value="US3137F7HX65"/>
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        <balance>1248033.21000000</balance>
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        <curCd>USD</curCd>
        <valUSD>801806.67000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
        <cusip>92332YAH4</cusip>
        <identifiers>
          <isin value="US92332YAH45"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29566.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Extended Stay America Trust</name>
        <lei>N/A</lei>
        <title>Extended Stay America Trust, Series 2026-ESH2, Class D</title>
        <cusip>30227WAG8</cusip>
        <identifiers>
          <isin value="US30227WAG87"/>
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        <balance>327922.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>330380.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.87539080</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIB Group plc</name>
        <lei>635400AKJBGNS5WNQL34</lei>
        <title>AIB Group plc</title>
        <cusip>00135TAE4</cusip>
        <identifiers>
          <isin value="US00135TAE47"/>
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        <balance>276000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285910.66000000</valUSD>
        <pctVal>0.055528196899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.87100000</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>Oceanview Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Oceanview Mortgage Trust, Series 2026-1, Class A</title>
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          <isin value="US675967AA16"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RFR Trust</name>
        <lei>N/A</lei>
        <title>RFR Trust, Series 2025-SGRM, Class E</title>
        <cusip>74984NAL8</cusip>
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          <isin value="US74984NAL82"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Octagon 53 Ltd.</name>
        <lei>N/A</lei>
        <title>Octagon 53 Ltd., Series 2021-1A, Class E</title>
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          <isin value="US67592UAA43"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Univision Communications, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-30</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Electric and Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co., Series A</title>
        <cusip>927804FX7</cusip>
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          <isin value="US927804FX73"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Qnity Electronics, Inc.</name>
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          <isin value="US74743LAB62"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
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          <isin value="US63861VAN73"/>
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        <balance>342000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.53700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Republic of Chile</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Republic of Chile</title>
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          <isin value="US168863DS48"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>153150.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2021-BN35, Class A5</title>
        <cusip>06540CBF3</cusip>
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          <isin value="US06540CBF32"/>
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        <balance>343000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302198.33000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.28500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3622ABJH6</cusip>
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          <isin value="US3622ABJH66"/>
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        <balance>2145368.10000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>NSTAR Electric Co.</name>
        <lei>54930080R72Y2Z31UR68</lei>
        <title>NSTAR Electric Co.</title>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Anywhere Real Estate Group LLC</name>
        <lei>N/A</lei>
        <title>Anywhere Real Estate Group LLC</title>
        <cusip>75606DAQ4</cusip>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77119.20000000</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>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VSP Optical Group, Inc.</name>
        <lei>549300PHX8USLM2BT742</lei>
        <title>VSP Optical Group, Inc.</title>
        <cusip>91836LAB8</cusip>
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        <balance>121000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <name>Synergy Infrastructure Holdings LLC</name>
        <lei>N/A</lei>
        <title>Synergy Infrastructure Holdings LLC</title>
        <cusip>87191JAB0</cusip>
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        <balance>60000.00000000</balance>
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        <valUSD>60900.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mosaic Solar Loan Trust</name>
        <lei>N/A</lei>
        <title>Mosaic Solar Loan Trust, Series 2019-2A, Class B</title>
        <cusip>61945LAB9</cusip>
        <identifiers>
          <isin value="US61945LAB99"/>
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        <balance>121586.82000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104773.61000000</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>2040-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.28000000</annualizedRt>
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      <invstOrSec>
        <name>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>Veralto Corp.</title>
        <cusip>92338CAD5</cusip>
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        <balance>94000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95218.72000000</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>2028-09-18</maturityDt>
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          <annualizedRt>5.35000000</annualizedRt>
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      <invstOrSec>
        <name>Lima Metro Line 2 Finance Ltd.</name>
        <lei>5493009BVQNQT1UKQ352</lei>
        <title>Lima Metro Line 2 Finance Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="USG54897AB28"/>
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        <balance>331041.72500000</balance>
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        <curCd>USD</curCd>
        <valUSD>314903.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
        <title>Velocity Commercial Capital Loan Trust, Series 2019-1, Class M2</title>
        <cusip>92257CAC4</cusip>
        <identifiers>
          <isin value="US92257CAC47"/>
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        <balance>124742.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115098.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ITC Holdings Corp.</name>
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        <name>Crescent Energy Finance LLC</name>
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        <name>Staples, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bausch Health Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QTS Issuer ABS II LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BSTN Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BSTN Commercial Mortgage Trust, Series 2025-HUB, Class D</title>
        <cusip>05594GAG0</cusip>
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          <isin value="US05594GAG01"/>
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        <balance>350000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Adani International Container Terminal Pvt. Ltd.</name>
        <lei>335800J4SLERP6S94P28</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SLG Office Trust</name>
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        <cusip>78449RAL9</cusip>
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        <name>Medline Borrower LP</name>
        <lei>N/A</lei>
        <title>Medline Borrower LP</title>
        <cusip>58506DAC2</cusip>
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        <balance>144000.00000000</balance>
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      <invstOrSec>
        <name>Gold Fields Orogen Holdings BVI Ltd.</name>
        <lei>213800CLGJ2E9KGU2F20</lei>
        <title>Gold Fields Orogen Holdings BVI Ltd.</title>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>2138005NRONUFED1TZ38</lei>
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        <name>180 Medical, Inc.</name>
        <lei>254900ZB648OPWVFVX59</lei>
        <title>180 Medical, Inc.</title>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2019-C50, Class C</title>
        <cusip>95001XBE5</cusip>
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        <name>Wand NewCo 3, Inc.</name>
        <lei>549300Y3VZEWMSQW8494</lei>
        <title>Wand NewCo 3, Inc.</title>
        <cusip>933940AA6</cusip>
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          <isin value="US933940AA60"/>
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        <balance>185000.00000000</balance>
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        <name>Pertamina Persero PT</name>
        <lei>254900NDAKGNZ2IBBL45</lei>
        <title>Pertamina Persero PT</title>
        <cusip>N/A</cusip>
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        <balance>200000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-20</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
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        <name>Lima Metro Line 2 Finance Ltd.</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Republic of Costa Rica</name>
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        <name>Vista Energy Argentina SAU</name>
        <lei>549300FE4UJNCG1DB123</lei>
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        <invCountry>AR</invCountry>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Veralto Corp.</name>
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        <name>United States of America</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>Directv Financing LLC</name>
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        <name>Rio Grande LNG LLC</name>
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        <name>Fremont Home Loan Trust</name>
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        <name>DoubleLine Global Bond Fund</name>
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        <name>BANK</name>
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        <name>InRetail Consumer</name>
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        <name>THL Credit Wind River CLO Ltd.</name>
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        <name>FHLMC</name>
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        <name>Warwick Capital CLO 1 Ltd.</name>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <name>BBCMS Mortgage Trust</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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        <name>Mizuho Bank Ltd.</name>
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        <name>Vedanta Resources Finance II plc</name>
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        <name>Hubbell, Inc.</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Par Petroleum LLC</name>
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        <name>Whirlpool Corp.</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp.</title>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>Celanese US Holdings LLC</name>
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        <name>Sound Point CLO XX Ltd.</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>FNMA</name>
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        <name>Adani Electricity Mumbai Ltd.</name>
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        <name>FHLMC Pool</name>
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        <name>Cloud Software Group, Inc.</name>
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        <name>Baker Hughes Holdings LLC</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SFS Auto Receivables Securitization Trust</name>
        <lei>N/A</lei>
        <title>SFS Auto Receivables Securitization Trust, Series 2025-3A, Class A2</title>
        <cusip>78398KAB7</cusip>
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          <isin value="US78398KAB70"/>
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        <balance>465440.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>465155.25000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.11000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Madison Park Funding LXIII Ltd.</name>
        <lei>N/A</lei>
        <title>Madison Park Funding LXIII Ltd., Series 2023-63A, Class A1R</title>
        <cusip>55817GAN1</cusip>
        <identifiers>
          <isin value="US55817GAN16"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502426.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.07214080</annualizedRt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO XXXII Ltd.</name>
        <lei>2549003NV71H6I4TDQ63</lei>
        <title>Benefit Street Partners CLO XXXII Ltd., Series 2023-32A, Class AR</title>
        <cusip>08181FAL4</cusip>
        <identifiers>
          <isin value="US08181FAL40"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002103.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.87658880</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP</title>
        <cusip>18060TAD7</cusip>
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          <isin value="US18060TAD72"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195795.00000000</valUSD>
        <pctVal>0.038026365690</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class B</title>
        <cusip>17328FAZ8</cusip>
        <identifiers>
          <isin value="US17328FAZ80"/>
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        <balance>276000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243998.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.19920000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GSMS Trust</name>
        <lei>N/A</lei>
        <title>GSMS Trust, Series 2026-DAWN, Class A</title>
        <cusip>36274LAA4</cusip>
        <identifiers>
          <isin value="US36274LAA44"/>
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        <balance>345066.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345916.28000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.82261480</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Solventum Corp.</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>Solventum Corp.</title>
        <cusip>83444MAR2</cusip>
        <identifiers>
          <isin value="US83444MAR25"/>
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        <balance>283000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>289560.51000000</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>2034-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Directv Financing LLC</name>
        <lei>N/A</lei>
        <title>Directv Financing LLC</title>
        <cusip>254945AA6</cusip>
        <identifiers>
          <isin value="US254945AA66"/>
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        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117014.80000000</valUSD>
        <pctVal>0.022726053147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</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>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust, Series 2016-C2, Class XA</title>
        <cusip>46590LAV4</cusip>
        <identifiers>
          <isin value="US46590LAV45"/>
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        <balance>184886.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1160.61000000</valUSD>
        <pctVal>0.000225408106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.42101360</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>Sabra Health Care LP</name>
        <lei>549300OVKLRFSIQG0H81</lei>
        <title>Sabra Health Care LP</title>
        <cusip>78574MAA1</cusip>
        <identifiers>
          <isin value="US78574MAA18"/>
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        <balance>158000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143132.09000000</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
        <cusip>195325DT9</cusip>
        <identifiers>
          <isin value="US195325DT91"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307687.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3128MJWP1</cusip>
        <identifiers>
          <isin value="US3128MJWP17"/>
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        <balance>148460.63000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133793.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rio Grande LNG LLC</name>
        <lei>549300B7F0EABT50P531</lei>
        <title>Rio Grande LNG LLC</title>
        <cusip>76711AAE7</cusip>
        <identifiers>
          <isin value="US76711AAE73"/>
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        <balance>49000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49177.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</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>Republic of Guatemala</name>
        <lei>529900QKDFFU9UWW5315</lei>
        <title>Republic of Guatemala</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP5015VAN66"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSMC Trust</name>
        <lei>N/A</lei>
        <title>CSMC Trust, Series 2021-B33, Class B</title>
        <cusip>12658WAG4</cusip>
        <identifiers>
          <isin value="US12658WAG42"/>
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        <balance>620000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548785.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.76637760</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CT Trust</name>
        <lei>213800MJB7WO427HQD34</lei>
        <title>CT Trust</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USG2588BAA29"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>190280.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GMQ9</cusip>
        <identifiers>
          <isin value="US06051GMQ90"/>
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        <balance>236000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>240669.02000000</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>2036-02-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.74400000</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>Federal Republic of Nigeria</name>
        <lei>549300GSBZD84TNEQ285</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
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        <name>Cemex SAB de CV</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-11</maturityDt>
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        <name>MACH 1 Cayman Ltd.</name>
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        <name>Hungary Government Bond</name>
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        <balance>300000.00000000</balance>
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        <invCountry>HU</invCountry>
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        <name>ING Groep NV</name>
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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>2037-03-23</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>LCM 28 Ltd.</name>
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        <curCd>USD</curCd>
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        <name>Enbridge, Inc.</name>
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        <name>Airbnb, Inc.</name>
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        <name>Fideicomiso PA Pacifico Tres</name>
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        <name>VSP Optical Group, Inc.</name>
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        <name>FHLMC</name>
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        <name>Takeda US Financing, Inc.</name>
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        <name>Extra Space Storage LP</name>
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        <title>Extra Space Storage LP</title>
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        <invCountry>US</invCountry>
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        <name>Flex Ltd.</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-13</maturityDt>
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      <invstOrSec>
        <name>Olin Corp.</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>Olin Corp.</title>
        <cusip>680665AN6</cusip>
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        <invCountry>US</invCountry>
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        <name>Barclays plc</name>
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        <name>Emirates Semb Corp. Water &amp; Power Co. PJSC</name>
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        <name>GNMA</name>
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        <name>Banco Nacional de Comercio Exterior SNC</name>
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      <invstOrSec>
        <name>Allegiant Travel Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK5</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Workday, Inc.</name>
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        <name>Liberty Utilities Co.</name>
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        <name>Michaels Cos., Inc. (The)</name>
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        <name>Ameren Corp.</name>
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        <name>BX Trust</name>
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        <name>RFMSI Trust</name>
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        <name>Altice France SA</name>
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        <name>Minsur SA</name>
        <lei>254900C69MVC7SXO2G61</lei>
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        <name>Acrisure LLC</name>
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        <name>Molex Electronic Technologies LLC</name>
        <lei>549300WTBVUFUPSIWI20</lei>
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        <name>Adani Renewable Energy RJ Ltd.</name>
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        <title>Adani Renewable Energy RJ Ltd.</title>
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        <name>Textron, Inc.</name>
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        <name>BANK5</name>
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        <name>Cosan Overseas Ltd.</name>
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        <name>Matador Resources Co.</name>
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        <name>United Airlines Holdings, Inc.</name>
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        <name>Carlyle US CLO</name>
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        <name>Griffon Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gabx Leasing LLC</name>
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        <name>Ellucian Holdings, Inc.</name>
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        <name>ONEOK, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-21</maturityDt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US95002UAU51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-15</maturityDt>
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        <name>Cipher Compute LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NJ Trust</name>
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        <name>NGPL PipeCo LLC</name>
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        <name>Unigel Luxembourg SA</name>
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        <name>Banc of America Funding Trust</name>
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        <name>WESCO Distribution, Inc.</name>
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        <name>Nabors Industries, Inc.</name>
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        <name>BPRL International Singapore Pte. Ltd.</name>
        <lei>875500AQ853IMLV4TX18</lei>
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        <name>NatWest Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Unigel Luxembourg SA</name>
        <lei>213800Y16R77O7LH7X62</lei>
        <title>Unigel Luxembourg SA</title>
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        <name>SV RNO Property Owner 1 LLC</name>
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        <name>Garda World Security Corp.</name>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>Dell, Inc.</name>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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        <name>YPF SA</name>
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        <name>Las Vegas Sands Corp.</name>
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        <name>Weatherford International Ltd.</name>
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        <name>FHLMC Pool</name>
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        <title>FHLMC</title>
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        <name>GreenPoint Mortgage Funding Trust</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Pertamina Persero PT</name>
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        <title>Pertamina Persero PT</title>
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        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
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        <name>BANK</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2025-V18, Class AS</title>
        <cusip>08164EAD6</cusip>
        <identifiers>
          <isin value="US08164EAD67"/>
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        <balance>352000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356228.05000000</valUSD>
        <pctVal>0.069184903079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.59265000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
        <cusip>378272CD8</cusip>
        <identifiers>
          <isin value="US378272CD87"/>
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        <balance>289000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288932.95000000</valUSD>
        <pctVal>0.056115171565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
        <cusip>92332YAB7</cusip>
        <identifiers>
          <isin value="US92332YAB74"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83200.00000000</valUSD>
        <pctVal>0.016158704897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LifePoint Health, Inc.</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health, Inc.</title>
        <cusip>53219LBA6</cusip>
        <identifiers>
          <isin value="US53219LBA61"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33493.25000000</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>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNL Quintero SA</name>
        <lei>549300JJJIQXE6E1QY27</lei>
        <title>GNL Quintero SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP4909LAA81"/>
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        <balance>206000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205233.68000000</valUSD>
        <pctVal>0.039859500843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63400000</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>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2021-C12, Class XD</title>
        <cusip>05552XAA6</cusip>
        <identifiers>
          <isin value="US05552XAA63"/>
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        <balance>9899000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>478358.29000000</valUSD>
        <pctVal>0.092904452444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.13956560</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>Anglo American Capital plc</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
        <title>Anglo American Capital plc</title>
        <cusip>034863BJ8</cusip>
        <identifiers>
          <isin value="US034863BJ86"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228194.50000000</valUSD>
        <pctVal>0.044318841162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="205748.96000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GMA4</cusip>
        <identifiers>
          <isin value="US06051GMA49"/>
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        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218999.65000000</valUSD>
        <pctVal>0.042533061502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.46800000</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>Aligned Data Centers Issuer LLC</name>
        <lei>N/A</lei>
        <title>Aligned Data Centers Issuer LLC, Series 2021-1A, Class B</title>
        <cusip>01627AAB4</cusip>
        <identifiers>
          <isin value="US01627AAB44"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>996399.90000000</valUSD>
        <pctVal>0.193516008942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.48200000</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>Imperial Fund Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Imperial Fund Mortgage Trust, Series 2021-NQM4, Class M1</title>
        <cusip>45276JAD2</cusip>
        <identifiers>
          <isin value="US45276JAD28"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1197011.70000000</valUSD>
        <pctVal>0.232477870423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.44599920</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>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>13607Q3Z3</cusip>
        <identifiers>
          <isin value="US13607Q3Z34"/>
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        <balance>90000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90133.25000000</valUSD>
        <pctVal>0.017505247454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.72300000</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>Wells Fargo Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Alternative Loan Trust, Series 2007-PA2, Class 1A1</title>
        <cusip>94985FAA6</cusip>
        <identifiers>
          <isin value="US94985FAA66"/>
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        <balance>97745.47270000</balance>
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        <curCd>USD</curCd>
        <valUSD>88877.26000000</valUSD>
        <pctVal>0.017261315101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-5C27, Class AS</title>
        <cusip>05555FAE4</cusip>
        <identifiers>
          <isin value="US05555FAE43"/>
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        <balance>421000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>434996.23000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.41000160</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>EMRLD Borrower LP</name>
        <lei>98450099EE3A0ZD5F786</lei>
        <title>EMRLD Borrower LP</title>
        <cusip>29103CAA6</cusip>
        <identifiers>
          <isin value="US29103CAA62"/>
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        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189171.75000000</valUSD>
        <pctVal>0.036740029846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</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>
        <name>Alliant Holdings Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Alliant Holdings Intermediate LLC</title>
        <cusip>01883LAG8</cusip>
        <identifiers>
          <isin value="US01883LAG86"/>
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        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109714.00000000</valUSD>
        <pctVal>0.021308126792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELP Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>ELP Commercial Mortgage Trust, Series 2025-ELP, Class C</title>
        <cusip>290154AE3</cusip>
        <identifiers>
          <isin value="US290154AE39"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297961.38000000</valUSD>
        <pctVal>0.057868629931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.31091080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UC0</cusip>
        <identifiers>
          <isin value="US912810UC08"/>
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        <balance>68000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61001582.80000000</valUSD>
        <pctVal>11.84743479264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>ABFC Trust</name>
        <lei>N/A</lei>
        <title>ABFC Trust, Series 2007-WMC1, Class A1A</title>
        <cusip>04545EAA1</cusip>
        <identifiers>
          <isin value="US04545EAA10"/>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>FHLMC</name>
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        <name>Matador Resources Co.</name>
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        <name>Uniti Group LP</name>
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        <name>Truist Financial Corp.</name>
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        <name>Adani Electricity Mumbai Ltd.</name>
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        <name>Viper Energy Partners LLC</name>
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        <name>Gilead Aviation LLC</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>J&amp;F Luxembourg Finance Sarl</name>
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        <name>Magnetite XXIII Ltd.</name>
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        <name>BANK5</name>
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      <invstOrSec>
        <name>CMS Energy Corp.</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp.</title>
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        <name>CyrusOne Data Centers Issuer I LLC</name>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
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        <name>Qorvo, Inc.</name>
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        <name>Post Holdings, Inc.</name>
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        <name>Herc Holdings, Inc.</name>
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      <invstOrSec>
        <name>CSX Corp.</name>
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        <name>Rollins, Inc.</name>
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        <name>FNMA</name>
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        <name>Banco Internacional del Peru SAA Interbank</name>
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        <name>Progressive Corp. (The)</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Gulfport Energy Operating Corp.</name>
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        <name>RHP Hotel Properties LP</name>
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        <name>VT Topco, Inc.</name>
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        <name>PLYM Commercial Mortgage Trust</name>
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        <name>Dealer Tire Financial LLC</name>
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        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
        <title>Western Midstream Operating LP</title>
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        <name>JBS NV</name>
        <lei>N/A</lei>
        <title>JBS NV</title>
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        <name>Kennedy Lewis CLO 12 Ltd.</name>
        <lei>549300OPJWALMOKFT505</lei>
        <title>Kennedy Lewis CLO 12 Ltd., Series 2023-12A, Class AR</title>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
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        <name>First Industrial LP</name>
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        <name>DoubleLine Emerging Markets Local Currency Bond Fund</name>
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        <name>JOL Air Ltd.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <name>Banc of America Funding Trust</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Rivers Enterprise Borrower LLC</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Videotron Ltd.</name>
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        <name>HUB International Ltd.</name>
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        <name>DREYFUS TREASURY &amp; AGENCY LEX</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>UBS Commercial Mortgage Trust</name>
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        <name>Jacobs Solutions, Inc.</name>
        <lei>254900E3KHXCC2C8K272</lei>
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        <name>TELUS Corp.</name>
        <lei>894500TX134IMF6NW757</lei>
        <title>TELUS Corp.</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2024-V11, Class A3</title>
        <cusip>081921AZ1</cusip>
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          <isin value="US081921AZ13"/>
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        <balance>239000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246091.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.90900040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wayfair LLC</name>
        <lei>549300CTUWTZGOXMYI40</lei>
        <title>Wayfair LLC</title>
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          <isin value="US94419NAC11"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71803.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UKG, Inc.</name>
        <lei>529900FKHWSTQ1GXK240</lei>
        <title>UKG, Inc.</title>
        <cusip>90279XAA0</cusip>
        <identifiers>
          <isin value="US90279XAA00"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165122.70000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140XEBC7</cusip>
        <identifiers>
          <isin value="US3140XEBC70"/>
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        <balance>1791911.22000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1606511.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>N/A</lei>
        <title>Verus Securitization Trust, Series 2021-3, Class M1</title>
        <cusip>92539LAD2</cusip>
        <identifiers>
          <isin value="US92539LAD29"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1923382.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.39699880</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U3N1</cusip>
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          <isin value="US95000U3N13"/>
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        <balance>288000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>287523.27000000</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>2035-12-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.21100000</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>AAR Escrow Issuer LLC</name>
        <lei>N/A</lei>
        <title>AAR Escrow Issuer LLC</title>
        <cusip>00253PAA6</cusip>
        <identifiers>
          <isin value="US00253PAA66"/>
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        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117411.55000000</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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The), Series Z</title>
        <cusip>38141GC28</cusip>
        <identifiers>
          <isin value="US38141GC282"/>
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        <balance>137000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140767.50000000</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>2030-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Adani Ports &amp; Special Economic Zone Ltd.</name>
        <lei>335800QOAXP5TM7OYP69</lei>
        <title>Adani Ports &amp; Special Economic Zone Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USY00130YU53"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>1248EPCV3</cusip>
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          <isin value="US1248EPCV30"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19676.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of Ireland Group plc</name>
        <lei>635400C8EK6DRI12LJ39</lei>
        <title>Bank of Ireland Group plc</title>
        <cusip>06279JAE9</cusip>
        <identifiers>
          <isin value="US06279JAE91"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199697.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.99700000</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>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2024-5C3, Class AS</title>
        <cusip>09660QAW4</cusip>
        <identifiers>
          <isin value="US09660QAW42"/>
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        <balance>516000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>527607.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.28580160</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Unigel Luxembourg SA</name>
        <lei>213800Y16R77O7LH7X62</lei>
        <title>Unigel Luxembourg SA</title>
        <cusip>904752AC6</cusip>
        <identifiers>
          <isin value="US904752AC66"/>
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        <balance>22114.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>442.28000000</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>2027-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>13.50000000</annualizedRt>
          <isDefault>Y</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QXO Building Products, Inc.</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>QXO Building Products, Inc.</title>
        <cusip>77583AAA8</cusip>
        <identifiers>
          <isin value="US77583AAA88"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61161.60000000</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>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dell International LLC</name>
        <lei>N/A</lei>
        <title>Dell International LLC</title>
        <cusip>24703DBW0</cusip>
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          <isin value="US24703DBW02"/>
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        <balance>231000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>228348.97000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DCC7</cusip>
        <identifiers>
          <isin value="US05526DCC74"/>
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        <balance>269000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277272.02000000</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>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="255449.76000000"/>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2019-1, Class M1</title>
        <cusip>89177BAC9</cusip>
        <identifiers>
          <isin value="US89177BAC90"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2196141.75000000</valUSD>
        <pctVal>0.426524116002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75000120</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>Royal Bank of Canada</name>
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      <invstOrSec>
        <name>CFCRE Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Energizer Holdings, Inc.</name>
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        <name>Kingdom of Morocco</name>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>INVESCO GOVT AND AGCY LEX</name>
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        <name>BXP Trust</name>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>LCCM</name>
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      <invstOrSec>
        <name>Discovery Global Holdings, Inc.</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Discovery Global Holdings, Inc.</title>
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        <name>Essential Properties LP</name>
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        <name>PennyMac Financial Services, Inc.</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PennyMac Financial Services, Inc.</title>
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        <name>Upstart Securitization Trust</name>
        <lei>N/A</lei>
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        <name>Chord Energy Corp.</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
        <title>Chord Energy Corp.</title>
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        <name>Sempra</name>
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        <title>Sempra</title>
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        <name>RBC US GOVT MONEY MKT FUND</name>
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        <title>RBC FUNDS TRUST US GOVT MONEY MKT FUND RBC INSTL</title>
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        <name>NGPL PipeCo LLC</name>
        <lei>549300K3NT1HSQFEM073</lei>
        <title>NGPL PipeCo LLC</title>
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      <invstOrSec>
        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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        <name>American Tower Corp.</name>
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        <name>Renesas Electronics Corp.</name>
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        <name>Banco Santander SA</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>FHLMC Pool</name>
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        <name>JSW Hydro Energy Ltd.</name>
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        <name>VEGAS Trust</name>
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        <name>TransCanada PipeLines Ltd.</name>
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        <name>Colonial Enterprises, Inc.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Fondo MIVIVIENDA SA</name>
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        <name>INCREF LLC</name>
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        <name>Banco Santander Chile</name>
        <lei>3YJP8HORPAEXJ80D6368</lei>
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        <name>Block Financial LLC</name>
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        <name>Digicel Group Holdings Ltd.</name>
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        <name>Wells Fargo Alternative Loan Trust</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>FNMA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Carnival Corp. Ltd.</name>
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        <name>Augusta SpinCo Corp.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Nexa Resources SA</name>
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        <name>Nissan Motor Acceptance Co. LLC</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>AASET Trust</name>
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        <name>Vertiv Holdings Co.</name>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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      <invstOrSec>
        <name>Chile Electricity PEC SpA</name>
        <lei>N/A</lei>
        <title>Chile Electricity PEC SpA</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Republic of Poland</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MF1 Ltd.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US08163NBN49"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
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          <isin value="US36254JAA34"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hydro One, Inc.</name>
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        <title>Hydro One, Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Kingdom of Morocco</name>
        <lei>529900F3MBW9XY5K1X07</lei>
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        <invCountry>MA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cougar JV Subsidiary 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>2032-05-15</maturityDt>
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          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>American Axle &amp; Manufacturing, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2024-V10, Class A3</title>
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          <isin value="US08163UAC36"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MasTec, Inc.</name>
        <lei>549300TMDIT8WREDOF45</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INCREF LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAU5</cusip>
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          <isin value="US05401AAU51"/>
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        <balance>245000.00000000</balance>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2021-C9, Class A5</title>
        <cusip>05493EAY8</cusip>
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          <isin value="US05493EAY86"/>
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        <balance>668000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-15</maturityDt>
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      <invstOrSec>
        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
        <lei>N/A</lei>
        <title>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP0R12RAA88"/>
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        <balance>198101.48000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Nexstar Media, Inc.</name>
        <lei>5493006PK6I4I2OOT688</lei>
        <title>Nexstar Media, Inc.</title>
        <cusip>65346UAA7</cusip>
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          <isin value="US65346UAA79"/>
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        <balance>30000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAQ5</cusip>
        <identifiers>
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        <name>DISH DBS Corp.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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      <invstOrSec>
        <name>Expand Energy Corp.</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
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      <invstOrSec>
        <name>GE Vernova, Inc.</name>
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        <name>Switch ABS Issuer LLC</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US12433LAE56"/>
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        <name>Energy Transfer LP</name>
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        <cusip>29273VAM2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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      <invstOrSec>
        <name>PENN Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>PENN Commercial Mortgage Trust, Series 2025-P11, Class C</title>
        <cusip>69382VAE4</cusip>
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          <isin value="US69382VAE48"/>
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        <balance>470000.00000000</balance>
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        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
        <lei>N/A</lei>
        <title>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</title>
        <cusip>05974EAA8</cusip>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELP Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>290154AJ2</cusip>
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          <isin value="US290154AJ26"/>
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      <invstOrSec>
        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
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        <name>Upstart Securitization Trust</name>
        <lei>N/A</lei>
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        <cusip>91684AAB5</cusip>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
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        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
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      <invstOrSec>
        <name>APLD ComputeCo LLC</name>
        <lei>N/A</lei>
        <title>APLD ComputeCo LLC</title>
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      <invstOrSec>
        <name>SHOPS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SHOPS Commercial Mortgage Trust, Series 2026-CSTL, Class A</title>
        <cusip>82510YAA4</cusip>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2026-C14, Class B</title>
        <cusip>096942BA4</cusip>
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          <isin value="US096942BA48"/>
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        <balance>445000.00000000</balance>
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      <invstOrSec>
        <name>Miter Brands Acquisition Holdco, Inc.</name>
        <lei>N/A</lei>
        <title>Miter Brands Acquisition Holdco, Inc.</title>
        <cusip>60672JAA7</cusip>
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          <isin value="US60672JAA79"/>
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        <balance>190000.00000000</balance>
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        <name>Tenet Healthcare Corp.</name>
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        <name>Dryden 43 Senior Loan Fund</name>
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        <name>Trestles CLO VI Ltd.</name>
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        <name>FHLMC Pool</name>
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        <name>T-Mobile USA, Inc.</name>
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      <invstOrSec>
        <name>GreenSky Home Improvement Issuer Trust</name>
        <lei>N/A</lei>
        <title>GreenSky Home Improvement Issuer Trust, Series 2025-3A, Class D</title>
        <cusip>39571WAF3</cusip>
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          <isin value="US39571WAF32"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296859.96000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-12-27</maturityDt>
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          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>Daimler Truck Finance North America LLC</name>
        <lei>5493003HSDTSCZRXBA58</lei>
        <title>Daimler Truck Finance North America LLC</title>
        <cusip>233853BL3</cusip>
        <identifiers>
          <isin value="US233853BL33"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>334008.08000000</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>2031-04-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Crown Point CLO IV Ltd.</name>
        <lei>N/A</lei>
        <title>Crown Point CLO IV Ltd., Series 2018-4A, Class C</title>
        <cusip>22845XAJ9</cusip>
        <identifiers>
          <isin value="US22845XAJ90"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501122.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.83683840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust, Series 2025-5C1, Class D</title>
        <cusip>61778GBG0</cusip>
        <identifiers>
          <isin value="US61778GBG01"/>
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        <balance>351000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308616.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Star Energy Geothermal Wayang Windu Ltd.</name>
        <lei>N/A</lei>
        <title>Star Energy Geothermal Wayang Windu Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USG84393AC49"/>
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        <balance>361500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>365566.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jabil, Inc.</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>Jabil, Inc.</title>
        <cusip>46656PAD6</cusip>
        <identifiers>
          <isin value="US46656PAD69"/>
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        <balance>117000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114001.97000000</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>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31418BQA7</cusip>
        <identifiers>
          <isin value="US31418BQA79"/>
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        <balance>85645.77000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75580.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PFP Ltd.</name>
        <lei>N/A</lei>
        <title>PFP Ltd., Series 2026-14, Class C</title>
        <cusip>69292DAG8</cusip>
        <identifiers>
          <isin value="US69292DAG88"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449859.06000000</valUSD>
        <pctVal>0.087369468702</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.60000160</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PODS LLC</name>
        <lei>984500EC4ZCD5U1SDF04</lei>
        <title>PODS LLC</title>
        <cusip>69413FAA0</cusip>
        <identifiers>
          <isin value="US69413FAA03"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43917.19000000</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>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pampa Energia SA</name>
        <lei>254900QNIK0CVURGML24</lei>
        <title>Pampa Energia SA</title>
        <cusip>697660AG3</cusip>
        <identifiers>
          <isin value="US697660AG30"/>
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        <balance>160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163216.00000000</valUSD>
        <pctVal>0.031699028588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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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>44891ACU9</cusip>
        <identifiers>
          <isin value="US44891ACU97"/>
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        <balance>521000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>526376.51000000</valUSD>
        <pctVal>0.102230320794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Digicel Group Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>Digicel Group Holdings Ltd., Series 2B14</title>
        <cusip>25381HAH1</cusip>
        <identifiers>
          <isin value="US25381HAH12"/>
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        <balance>14051.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529.92000000</valUSD>
        <pctVal>0.000102918520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2025-5C12, Class AS</title>
        <cusip>09663VAF7</cusip>
        <identifiers>
          <isin value="US09663VAF76"/>
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        <balance>472000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>474347.92000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55700000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2025-5C11, Class AS</title>
        <cusip>096941AF6</cusip>
        <identifiers>
          <isin value="US096941AF60"/>
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        <balance>459000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>469521.61000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.93830000</annualizedRt>
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      <invstOrSec>
        <name>Madison IAQ LLC</name>
        <lei>549300IXDNBXNHUPBU73</lei>
        <title>Madison IAQ LLC</title>
        <cusip>55760LAB3</cusip>
        <identifiers>
          <isin value="US55760LAB36"/>
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        <balance>305000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304591.30000000</valUSD>
        <pctVal>0.059156261190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wind River CLO Ltd.</name>
        <lei>254900ZK5ODN8CA7YX85</lei>
        <title>Wind River CLO Ltd., Series 2014-3A, Class DR2</title>
        <cusip>88432DBL7</cusip>
        <identifiers>
          <isin value="US88432DBL73"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1506241.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.32525120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JetBlue Airways Corp.</name>
        <lei>N/A</lei>
        <title>JetBlue Airways Corp.</title>
        <cusip>476920AA1</cusip>
        <identifiers>
          <isin value="US476920AA15"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31718.75000000</valUSD>
        <pctVal>0.006160263473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="27106.16000000"/>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Acu Petroleo Luxembourg Sarl</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Ashtead Capital, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominican Republic Government Bond</name>
        <lei>254900EHU7Q8FGVPI369</lei>
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        <invCountry>DO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <name>Sabre GLBL, Inc.</name>
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        <name>Industrias Penoles SAB de CV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Stichting Administratiekantoor Unigel Creditors</name>
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        <name>Marriott International, Inc.</name>
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        <name>United States of America</name>
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        <name>NGL Energy Operating LLC</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Mexico Generadora de Energia S de rl</name>
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        <name>Sound Point CLO XXXII Ltd.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Sonoco Products Co.</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
        <title>Sonoco Products Co.</title>
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        <name>CAP SA</name>
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        <name>VeriSign, Inc.</name>
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        <name>ArcelorMittal SA</name>
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        <name>Rentokil Terminix Funding LLC</name>
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        <name>United Mexican States</name>
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        <name>Cantor Commercial Real Estate Lending</name>
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        <name>CoreWeave, Inc.</name>
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        <name>KREF Ltd.</name>
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        <name>Republic of Trinidad and Tobago</name>
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        <name>DTE Energy Co.</name>
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        <name>Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand</name>
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        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
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        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Republic of Guatemala</name>
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        <name>PR RNO Property Owner 1 LLC</name>
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        <name>Carnival Corp. Ltd.</name>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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      <invstOrSec>
        <name>Neptune Bidco US, Inc.</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Cardinal Health, Inc.</name>
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        <name>LBTY Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Option One Mortgage Loan Trust</name>
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        <name>Eclipse Aircraft LLC</name>
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        <name>BMO Mortgage Trust</name>
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        <name>JPMCC Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Benefit Street Partners CLO 46 Ltd.</name>
        <lei>254900V6D9GINW4KA850</lei>
        <title>Benefit Street Partners CLO 46 Ltd., Series 2025-46A, Class A</title>
        <cusip>08186HAA9</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3622ABGW6</cusip>
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        <name>Mong Duong Finance Holdings BV</name>
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      <invstOrSec>
        <name>Cometa Energia SA de CV</name>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>AbbVie, Inc.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>Adani International Container Terminal Pvt. Ltd.</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>Fertitta Entertainment LLC</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
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        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
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        <name>Vistra Operations Co. LLC</name>
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        <name>Advanced Drainage Systems, Inc.</name>
        <lei>6QQTOZ5MF5DHM7K92I60</lei>
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        <name>BXMT Ltd.</name>
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        <name>Figure Line of Credit Trust</name>
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        <name>Cheniere Energy, Inc.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy, Inc.</title>
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      <invstOrSec>
        <name>Select Medical Corp.</name>
        <lei>549300X05KS0JKR8CB50</lei>
        <title>Select Medical Corp.</title>
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        <name>Amentum Holdings, Inc.</name>
        <lei>2549009FJIBLW40CU216</lei>
        <title>Amentum Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-15</maturityDt>
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      <invstOrSec>
        <name>Sound Point CLO XXIV</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-25</maturityDt>
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      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.37300000</annualizedRt>
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      <invstOrSec>
        <name>Adani Transmission Step-One Ltd.</name>
        <lei>335800Z8CGS7O7D72N41</lei>
        <title>Adani Transmission Step-One Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="XS2080214864"/>
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        <balance>444500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402272.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-21</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3140NYA50</cusip>
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          <isin value="US3140NYA504"/>
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        <balance>2522000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172EG0</cusip>
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          <isin value="US718172EG07"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230141.30000000</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>2036-04-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
        <cusip>80282KBS4</cusip>
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          <isin value="US80282KBS42"/>
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        <balance>47000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46995.14000000</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>2030-06-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.04000000</annualizedRt>
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      <invstOrSec>
        <name>Canyon CLO Ltd.</name>
        <lei>549300IVUME0ILZ1W208</lei>
        <title>Canyon CLO Ltd., Series 2020-1A, Class DR2</title>
        <cusip>13876LBC0</cusip>
        <identifiers>
          <isin value="US13876LBC00"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>497553.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.77310120</annualizedRt>
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      <invstOrSec>
        <name>Alliant Energy Corp.</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>Alliant Energy Corp.</title>
        <cusip>018802AF5</cusip>
        <identifiers>
          <isin value="US018802AF54"/>
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        <balance>142000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>139635.23000000</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>2056-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Kyndryl Holdings, Inc.</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings, Inc.</title>
        <cusip>50155QAM2</cusip>
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          <isin value="US50155QAM24"/>
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        <balance>501000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357208.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GE HealthCare Technologies, Inc.</name>
        <lei>549300OI9J7XOWZMUN85</lei>
        <title>GE HealthCare Technologies, Inc.</title>
        <cusip>36266GAB3</cusip>
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          <isin value="US36266GAB32"/>
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        <balance>273000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>273148.70000000</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>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>Southern Copper Corp.</name>
        <lei>2549007U6NAP46Q9TU15</lei>
        <title>Southern Copper Corp.</title>
        <cusip>84265VAG0</cusip>
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          <isin value="US84265VAG05"/>
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        <balance>110000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
        <cusip>98379KAB8</cusip>
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          <isin value="US98379KAB89"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206546.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MF1 LLC</name>
        <lei>N/A</lei>
        <title>MF1 LLC, Series 2026-FL21, Class B</title>
        <cusip>55287NAG2</cusip>
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          <isin value="US55287NAG25"/>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>689137.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-02-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.38718040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
        <cusip>65473PAX3</cusip>
        <identifiers>
          <isin value="US65473PAX33"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503919.30000000</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>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818FB9</cusip>
        <identifiers>
          <isin value="US907818FB91"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490846.20000000</valUSD>
        <pctVal>0.095329794421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
        <cusip>90353TAP5</cusip>
        <identifiers>
          <isin value="US90353TAP57"/>
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        <balance>273000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>267222.15000000</valUSD>
        <pctVal>0.051898604133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Penske Truck Leasing Co. LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
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        <title>Duke Energy Corp.</title>
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          <isin value="US26441CCF05"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Anywhere Real Estate Group LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Arrow Electronics, Inc.</name>
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        <title>Arrow Electronics, Inc.</title>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
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        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aircastle Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AthenaHealth Group, Inc.</name>
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        <name>MF1</name>
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      <invstOrSec>
        <name>Commonwealth Edison Co.</name>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
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        <name>BANK</name>
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        <name>Kodiak Gas Services LLC</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>Ownit Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Ownit Mortgage Loan Trust, Series 2006-3, Class M1</title>
        <cusip>69121PDZ3</cusip>
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          <isin value="US69121PDZ36"/>
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        <name>HomeBanc Mortgage Trust</name>
        <lei>N/A</lei>
        <title>HomeBanc Mortgage Trust, Series 2005-4, Class M4</title>
        <cusip>43739EBX4</cusip>
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          <isin value="US43739EBX40"/>
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        <balance>7066300.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>American Electric Power Co., Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Standard Building Solutions, Inc.</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRPM LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK5</name>
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          <isin value="US06604AAM62"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
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      <invstOrSec>
        <name>PRPM LLC</name>
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          <isin value="US69382KAA60"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-25</maturityDt>
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        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
        <cusip>62482BAB8</cusip>
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          <isin value="US62482BAB80"/>
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        <balance>443000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Life Time, Inc.</name>
        <lei>549300PALKE96VYH4X17</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Performance Food Group, Inc.</name>
        <lei>549300OMUOGBYK0FFO76</lei>
        <title>Performance Food Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Whirlpool Corp.</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Cloud Software Group, Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>Cloud Software Group, Inc.</title>
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        <name>Veritiv Operating Co.</name>
        <lei>5493004G8OK5L1UTIY12</lei>
        <title>Veritiv Operating Co.</title>
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          <annualizedRt>10.50000000</annualizedRt>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VAQ3</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Eastern Energy Gas Holdings LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
        <title>Eastern Energy Gas Holdings LLC</title>
        <cusip>27636AAA0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-15</maturityDt>
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          <annualizedRt>5.65000000</annualizedRt>
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        <name>Viking Cruises Ltd.</name>
        <lei>549300IJP90T4MV2GL84</lei>
        <title>Viking Cruises Ltd.</title>
        <cusip>92676XAH0</cusip>
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        <balance>430000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <name>Getty Images, Inc.</name>
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        <name>Credit Agricole SA</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Dcli Bidco LLC</name>
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        <name>MV24 Capital BV</name>
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        <name>Velocity Commercial Capital Loan Trust</name>
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        <name>Suzano Netherlands BV</name>
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        <name>American Express Co.</name>
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        <name>Chile Electricity Lux Mpc II Sarl</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>CSN Resources SA</name>
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        <name>Spirit AeroSystems, Inc.</name>
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        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
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        <name>Suntrust Alternative Loan Trust</name>
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        <name>Bank of America Corp.</name>
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        <name>ERAC USA Finance LLC</name>
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      <invstOrSec>
        <name>Chile Electricity Lux Mpc II Sarl</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>AASET Ltd.</name>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
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          <isin value="US3132DVMB89"/>
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        <name>Park Intermediate Holdings LLC</name>
        <lei>N/A</lei>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WAVE LLC</name>
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        <name>Essential Properties LP</name>
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        <name>SoFi Consumer Loan Program Trust</name>
        <lei>N/A</lei>
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        <balance>700000.00000000</balance>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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      <invstOrSec>
        <name>LifePoint Health, Inc.</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health, Inc.</title>
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        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
        <title>Kodiak Gas Services LLC</title>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2025-5C4, Class A3</title>
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          <maturityDt>2058-05-15</maturityDt>
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          <annualizedRt>5.67300000</annualizedRt>
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      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676BC8</cusip>
        <identifiers>
          <isin value="US571676BC81"/>
        </identifiers>
        <balance>296000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>292627.97000000</valUSD>
        <pctVal>0.056832800624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>EQ Advisors Trust</ncom:nameOfApplicant>
      <ncom:signature>James Kelly</ncom:signature>
      <ncom:signerName>James Kelly</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
