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        <name>Goldman Sachs Financial Square Funds - Government Fund</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SLM Student Loan Trust</name>
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        <name>FHLMC</name>
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        <curCd>USD</curCd>
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        <name>South Texas Higher Education Authority, Inc.</name>
        <lei>N/A</lei>
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        <valUSD>12550.38000000</valUSD>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-15</maturityDt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Adjustable Rate FHLMC</title>
        <cusip>3128S4YU5</cusip>
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          <isin value="US3128S4YU54"/>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Variable</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Adjustable Rate FHLMC</title>
        <cusip>3128NHW66</cusip>
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        <curCd>USD</curCd>
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          <couponKind>Variable</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2017-96, Class FC</title>
        <cusip>3136B0AA4</cusip>
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          <isin value="US3136B0AA42"/>
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        <balance>786005.04000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <name>Anchorage Capital CLO 4-R Ltd.</name>
        <lei>549300MP4QPQUMB6AD63</lei>
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        <cusip>03328LAA0</cusip>
        <identifiers>
          <isin value="US03328LAA08"/>
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        <curCd>USD</curCd>
        <valUSD>350116.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <debtSec>
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        <name>Madison Park Funding XXX Ltd.</name>
        <lei>549300FFTJ3WPTJK8589</lei>
        <title>Madison Park Funding XXX Ltd., Series 2018-30A, Class A</title>
        <cusip>55821TAA5</cusip>
        <identifiers>
          <isin value="US55821TAA51"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>0.99124920</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128286X3</cusip>
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          <isin value="US9128286X38"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264511.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-31</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2007-33, Class HF</title>
        <cusip>31396VGA0</cusip>
        <identifiers>
          <isin value="US31396VGA08"/>
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        <balance>61396.18400000</balance>
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        <curCd>USD</curCd>
        <valUSD>61623.12000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.45862920</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Multifamily ML Certificates</name>
        <lei>N/A</lei>
        <title>FHLMC Multifamily ML Certificates, Series 2017-ML01, Class A</title>
        <cusip>302611AA6</cusip>
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          <isin value="US302611AA66"/>
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        <balance>94132.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94598.10000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.60863040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Educational Funding of the South, Inc.</name>
        <lei>N/A</lei>
        <title>Educational Funding of the South, Inc., Series 2011-1, Class A2</title>
        <cusip>28148WAB9</cusip>
        <identifiers>
          <isin value="US28148WAB90"/>
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        <balance>248878.53000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247399.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.86775120</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2005-48, Class AF</title>
        <cusip>38374LHM6</cusip>
        <identifiers>
          <isin value="US38374LHM63"/>
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        <balance>338787.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>339692.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.31088160</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Higher Education Funding I</name>
        <lei>N/A</lei>
        <title>Higher Education Funding I, Series 2014-1, Class A</title>
        <cusip>429827AY4</cusip>
        <identifiers>
          <isin value="US429827AY44"/>
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        <balance>806460.95180000</balance>
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        <curCd>USD</curCd>
        <valUSD>810901.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.23750000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="WNM1COS"/>
          <other otherDesc="Future Ticker" value="WNM1 Comdty"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6901.29000000</valUSD>
        <pctVal>0.008921861313</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Short</payOffProf>
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                <issuerName>United States of America</issuerName>
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                  <cusip value="912810RG5"/>
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            <expDate>2021-06-21</expDate>
            <notionalAmt>-181937.50000000</notionalAmt>
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            <unrealizedAppr>6901.29000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828TE0</cusip>
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          <isin value="US912828TE09"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>886904.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Benefit Street Partners CLO VII Ltd.</name>
        <lei>549300QK06ZD0H5SH503</lei>
        <title>Benefit Street Partners CLO VII Ltd., Series 2015-VIIA, Class A1AR</title>
        <cusip>08180RAL9</cusip>
        <identifiers>
          <isin value="US08180RAL96"/>
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        <balance>336582.09000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>336601.28000000</valUSD>
        <pctVal>0.435151969856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.00338120</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>Citibank Credit Card Issuance Trust</name>
        <lei>R8AG6FXVDQAMDKCSJJ64</lei>
        <title>Citibank Credit Card Issuance Trust, Series 2017-A7, Class A7</title>
        <cusip>17305EGF6</cusip>
        <identifiers>
          <isin value="US17305EGF60"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501968.06000000</valUSD>
        <pctVal>0.648935114311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.47350080</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128287G9</cusip>
        <identifiers>
          <isin value="US9128287G95"/>
        </identifiers>
        <balance>13400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13409372.36000000</valUSD>
        <pctVal>17.33539099137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.24000120</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>Ford Credit Floorplan Master Owner Trust A</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A, Series 2020-1, Class A2</title>
        <cusip>34528QHL1</cusip>
        <identifiers>
          <isin value="US34528QHL14"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>752969.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.60599880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 2 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="TUM1COM"/>
          <other otherDesc="Future Ticker" value="TUM1 Comdty"/>
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        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1412.50000000</valUSD>
        <pctVal>-0.00182605412</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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                  <cusip value="912828YW4"/>
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            <unrealizedAppr>-1412.50000000</unrealizedAppr>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128285C0</cusip>
        <identifiers>
          <isin value="US9128285C00"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10978.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Adjustable Rate FNMA</title>
        <cusip>31410GDW0</cusip>
        <identifiers>
          <isin value="US31410GDW06"/>
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        <balance>37263.17000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39206.03000000</valUSD>
        <pctVal>0.050684837516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.09700000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="TYM1COS"/>
          <other otherDesc="Future Ticker" value="TYM1 Comdty"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3067.94000000</valUSD>
        <pctVal>0.003966176641</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <expDate>2021-06-21</expDate>
            <notionalAmt>-131062.50000000</notionalAmt>
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            <unrealizedAppr>3067.94000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3311, Class KF</title>
        <cusip>31397H7E2</cusip>
        <identifiers>
          <isin value="US31397H7E22"/>
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        <balance>1238769.94000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1244912.63000000</valUSD>
        <pctVal>1.609400247212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.44600040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4631, Class GF</title>
        <cusip>3137BSZD8</cusip>
        <identifiers>
          <isin value="US3137BSZD84"/>
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        <balance>1247798.34000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1258325.14000000</valUSD>
        <pctVal>1.626739694487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.60599880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series KF58, Class A</title>
        <cusip>3137FL2Q6</cusip>
        <identifiers>
          <isin value="US3137FL2Q64"/>
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        <balance>468040.16550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>471286.87000000</valUSD>
        <pctVal>0.609271033812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.61949880</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4637, Class QF</title>
        <cusip>3137BTT35</cusip>
        <identifiers>
          <isin value="US3137BTT356"/>
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        <balance>552039.60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>530071.52000000</valUSD>
        <pctVal>0.685266752678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.11512880</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3208, Class FB</title>
        <cusip>31397A6U2</cusip>
        <identifiers>
          <isin value="US31397A6U28"/>
        </identifiers>
        <balance>69292.16000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69910.29000000</valUSD>
        <pctVal>0.090378742489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.50600160</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2017-45, Class FA</title>
        <cusip>3136AWB71</cusip>
        <identifiers>
          <isin value="US3136AWB717"/>
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        <balance>385323.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>384203.67000000</valUSD>
        <pctVal>0.496691467800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.44287920</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Adjustable Rate FNMA</title>
        <cusip>31411GTW2</cusip>
        <identifiers>
          <isin value="US31411GTW23"/>
        </identifiers>
        <balance>103575.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109000.18000000</valUSD>
        <pctVal>0.140913436341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.47100040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BSWP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="935776GSS"/>
        </identifiers>
        <balance>2180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-547.46000000</valUSD>
        <pctVal>-0.00070774626</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
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            <swapFlag>Y</swapFlag>
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              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="LIBOR" floatingRtSpread="0.09000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="1"/>
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            <terminationDt>2024-07-25</terminationDt>
            <upfrontPmnt>744.91000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2180000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-547.46000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="USM1COS"/>
          <other otherDesc="Future Ticker" value="USM1 Comdty"/>
        </identifiers>
        <balance>-6.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>35635.18000000</valUSD>
        <pctVal>0.046068508037</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury Long Bond</issueTitle>
                <identifiers>
                  <cusip value="912810FT0"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2021-06-21</expDate>
            <notionalAmt>-929062.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>35635.18000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3138EJRP5</cusip>
        <identifiers>
          <isin value="US3138EJRP53"/>
        </identifiers>
        <balance>9098.37000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9101.26000000</valUSD>
        <pctVal>0.011765942236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.24400040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3208, Class FD</title>
        <cusip>31397A6W8</cusip>
        <identifiers>
          <isin value="US31397A6W83"/>
        </identifiers>
        <balance>103245.59180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104166.60000000</valUSD>
        <pctVal>0.134664672645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.50600160</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>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="FVM1COS"/>
          <other otherDesc="Future Ticker" value="FVM1 Comdty"/>
        </identifiers>
        <balance>-31.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>45497.71000000</valUSD>
        <pctVal>0.058818606187</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 5 Year Note</issueTitle>
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                  <cusip value="912828M80"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2021-06-30</expDate>
            <notionalAmt>-3827046.88000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>45497.71000000</unrealizedAppr>
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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>FNMA, Series 2016-1, Class FT</title>
        <cusip>3136AQP61</cusip>
        <identifiers>
          <isin value="US3136AQP610"/>
        </identifiers>
        <balance>591552.39000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>595667.41000000</valUSD>
        <pctVal>0.770067917866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.45862920</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4320, Class FD</title>
        <cusip>3137B8QJ9</cusip>
        <identifiers>
          <isin value="US3137B8QJ94"/>
        </identifiers>
        <balance>229378.73750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231332.15000000</valUSD>
        <pctVal>0.299061966620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.50600160</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>Trimaran Cavu Ltd.</name>
        <lei>N/A</lei>
        <title>Trimaran CAVU Ltd., Series 2021-1A, Class A</title>
        <cusip>89624NAA6</cusip>
        <identifiers>
          <isin value="US89624NAA63"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500105.00000000</valUSD>
        <pctVal>0.646526584465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.33909920</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>LCM XV LP</name>
        <lei>549300HV40B88JRNJD93</lei>
        <title>LCM XV LP, Series 15A, Class AR2</title>
        <cusip>50184NAR3</cusip>
        <identifiers>
          <isin value="US50184NAR35"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000108.00000000</valUSD>
        <pctVal>1.292921305199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</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>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
        <title>Chesapeake Funding II LLC, Series 2017-3A, Class A2</title>
        <cusip>165183AZ7</cusip>
        <identifiers>
          <isin value="US165183AZ74"/>
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        <balance>8832.05000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8832.15000000</valUSD>
        <pctVal>0.011418041757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.44600040</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3307, Class FT</title>
        <cusip>31397GBY5</cusip>
        <identifiers>
          <isin value="US31397GBY52"/>
        </identifiers>
        <balance>655728.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>656155.99000000</valUSD>
        <pctVal>0.848266446229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.34599960</annualizedRt>
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      <invstOrSec>
        <name>SLM Student Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="UXYM1CO"/>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>Citibank Credit Card Issuance Trust</name>
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        <cusip>17305EGD1</cusip>
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          <isin value="US17305EGD13"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Nissan Master Owner Trust Receivables</name>
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        <cusip>65474VAQ4</cusip>
        <identifiers>
          <isin value="US65474VAQ41"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3128JMK48</cusip>
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        <balance>64911.48400000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Adjustable Rate GNMA</title>
        <cusip>36225CXP6</cusip>
        <identifiers>
          <isin value="US36225CXP66"/>
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        <balance>110837.90000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114030.59000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.87499960</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2007-36, Class F</title>
        <cusip>31396VQW1</cusip>
        <identifiers>
          <isin value="US31396VQW18"/>
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        <balance>98548.72400000</balance>
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        <curCd>USD</curCd>
        <valUSD>98609.63000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3371, Class FA</title>
        <cusip>31397KNW7</cusip>
        <identifiers>
          <isin value="US31397KNW70"/>
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        <balance>283222.72100000</balance>
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        <curCd>USD</curCd>
        <valUSD>287381.25000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.70599960</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2008-8, Class FB</title>
        <cusip>31396YHR6</cusip>
        <identifiers>
          <isin value="US31396YHR62"/>
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        <balance>201166.31300000</balance>
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        <curCd>USD</curCd>
        <valUSD>204351.14000000</valUSD>
        <pctVal>0.264181411055</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>0.92863080</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828W55</cusip>
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          <isin value="US912828W556"/>
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        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121959.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp., Series 2015-1, Class A1</title>
        <cusip>49130NCX5</cusip>
        <identifiers>
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        <balance>413350.96000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.86500080</annualizedRt>
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      <invstOrSec>
        <name>Parallel Ltd.</name>
        <lei>549300IVH7GEF68EFD31</lei>
        <title>Parallel Ltd., Series 2015-1A, Class AR</title>
        <cusip>69915VAN0</cusip>
        <identifiers>
          <isin value="US69915VAN01"/>
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        <balance>136569.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.07399880</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mountain View CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Mountain View CLO Ltd., Series 2013-1A, Class AR</title>
        <cusip>62431UAR3</cusip>
        <identifiers>
          <isin value="US62431UAR32"/>
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        <balance>467703.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>467716.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.47438000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828YD6</cusip>
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          <isin value="US912828YD60"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20348.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2006-82, Class F</title>
        <cusip>31396KYS5</cusip>
        <identifiers>
          <isin value="US31396KYS58"/>
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        <balance>79958.85240000</balance>
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        <curCd>USD</curCd>
        <valUSD>80904.09000000</valUSD>
        <pctVal>0.104591325775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.67862880</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THL Credit Wind River CLO Ltd.</name>
        <lei>N/A</lei>
        <title>THL Credit Wind River CLO Ltd., Series 2017-3A, Class A</title>
        <cusip>88434GAA3</cusip>
        <identifiers>
          <isin value="US88434GAA31"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500015.50000000</valUSD>
        <pctVal>0.646410880504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>Edsouth Indenture No. 5 LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Dryden 64 CLO Ltd.</name>
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          <couponKind>Floating</couponKind>
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        <name>United States of America</name>
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          <couponKind>Fixed</couponKind>
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        <name>WhiteHorse IX Ltd.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>Utah State Board of Regents</name>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Dryden 49 Senior Loan Fund</name>
        <lei>549300VCB8LYR1RGV869</lei>
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        <cusip>26244QAA1</cusip>
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          <isin value="US26244QAA13"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.43337960</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137B0G65</cusip>
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          <isin value="US3137B0G658"/>
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        <balance>193686.58000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193722.95000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.40600080</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3137BHYE12"/>
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        <balance>244533.43400000</balance>
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        <curCd>USD</curCd>
        <valUSD>243566.06000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.42288120</annualizedRt>
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      <invstOrSec>
        <name>LCM XX LP</name>
        <lei>549300VQTTD2PAP2Y421</lei>
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        <identifiers>
          <isin value="US50188WAE84"/>
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        <balance>621379.37000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621478.17000000</valUSD>
        <pctVal>0.803435595665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.26399960</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Carlyle US CLO Ltd.</name>
        <lei>549300VC6J79YJCFU884</lei>
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        <cusip>14315JAQ2</cusip>
        <identifiers>
          <isin value="US14315JAQ22"/>
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        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Montana Higher Education Student Assistance Corp.</name>
        <lei>N/A</lei>
        <title>Montana Higher Education Student Assistance Corp., Series 2012-1, Class A2</title>
        <cusip>61205PAK5</cusip>
        <identifiers>
          <isin value="US61205PAK57"/>
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        <balance>300253.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300545.82000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.11088080</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fred FLT</name>
        <lei>N/A</lei>
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          <isin value="US3137F2K470"/>
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        <balance>31304.70000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31312.49000000</valUSD>
        <pctVal>0.040480213576</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.46850040</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3137ARPN03"/>
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        <balance>1402623.23000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1414026.56000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.60599880</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
        <title>Pennsylvania Higher Education Assistance Agency, Series 2006-1, Class A3</title>
        <cusip>708788AC8</cusip>
        <identifiers>
          <isin value="US708788AC85"/>
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        <balance>328035.30800000</balance>
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        <curCd>USD</curCd>
        <valUSD>320547.48000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.35775000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2007-85, Class FC</title>
        <cusip>31396XQQ0</cusip>
        <identifiers>
          <isin value="US31396XQQ06"/>
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        <balance>281396.24550000</balance>
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        <curCd>USD</curCd>
        <valUSD>284851.93000000</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>2037-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.64863000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>31397A6Y4</cusip>
        <identifiers>
          <isin value="US31397A6Y40"/>
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        <balance>415753.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>419461.97000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.50600160</annualizedRt>
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      <invstOrSec>
        <name>Assurant CLO I Ltd.</name>
        <lei>635400A6LSLGJQHVOZ36</lei>
        <title>Assurant CLO I Ltd., Series 2017-1A, Class A</title>
        <cusip>04625AAA2</cusip>
        <identifiers>
          <isin value="US04625AAA25"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300052.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.47399840</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Adjustable Rate FNMA</title>
        <cusip>3138EK3C7</cusip>
        <identifiers>
          <isin value="US3138EK3C70"/>
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        <balance>212185.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222425.15000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Illinois Student Assistance Commission</name>
        <lei>549300FKIJ7H0L1PDN43</lei>
        <title>Illinois Student Assistance Commission, Series 2010-1, Class A3</title>
        <cusip>452281JD1</cusip>
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          <isin value="US452281JD17"/>
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        <balance>140005.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>138988.76000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>1.11800160</annualizedRt>
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      <invstOrSec>
        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>29878TDE1</cusip>
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          <isin value="US29878TDE10"/>
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        <balance>1530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1533455.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.29999880</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
        <cusip>3133ELJ62</cusip>
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          <isin value="US3133ELJ621"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1501128.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.18000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SLM Student Loan Trust</name>
        <lei>549300WCW8E0MUEMAH47</lei>
        <title>SLM Student Loan Trust, Series 2005-5, Class A4</title>
        <cusip>78442GPQ3</cusip>
        <identifiers>
          <isin value="US78442GPQ37"/>
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        <balance>548943.91000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>546013.43000000</valUSD>
        <pctVal>0.705876161946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.35775000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828Z45</cusip>
        <identifiers>
          <isin value="US912828Z450"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600679.77000000</valUSD>
        <pctVal>0.776547805072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.17400240</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RG5</cusip>
        <identifiers>
          <isin value="US912810RG58"/>
        </identifiers>
        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201423.44000000</valUSD>
        <pctVal>0.260396534116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2006-96, Class FA</title>
        <cusip>31396LCM0</cusip>
        <identifiers>
          <isin value="US31396LCM00"/>
        </identifiers>
        <balance>352140.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353308.35000000</valUSD>
        <pctVal>0.456750563958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.40862880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBAM Ltd.</name>
        <lei>25490038OT2B8HTRW786</lei>
        <title>CBAM Ltd., Series 2018-5A, Class A</title>
        <cusip>12481QAC9</cusip>
        <identifiers>
          <isin value="US12481QAC96"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1100218.90000000</valUSD>
        <pctVal>1.422342843166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.24337880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2018-60, Class FK</title>
        <cusip>3136B2D74</cusip>
        <identifiers>
          <isin value="US3136B2D744"/>
        </identifiers>
        <balance>2172867.05000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2175890.81000000</valUSD>
        <pctVal>2.812951787243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.40862880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series KF60, Class A</title>
        <cusip>3137FL7L2</cusip>
        <identifiers>
          <isin value="US3137FL7L23"/>
        </identifiers>
        <balance>410225.14320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411415.94000000</valUSD>
        <pctVal>0.531870992057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.60850080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pikes Peak CLO 2</name>
        <lei>2549000551VJRWC86112</lei>
        <title>Pikes Peak CLO 2, Series 2018-2A, Class A</title>
        <cusip>72133JAA5</cusip>
        <identifiers>
          <isin value="US72133JAA51"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>800056.80000000</valUSD>
        <pctVal>1.034298777821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.51337880</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>2021-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs Variable Insurance Trust</ncom:nameOfApplicant>
      <ncom:signature>Peter Fortner</ncom:signature>
      <ncom:signerName>Peter Fortner</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
