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        <name>Siemens Financieringsmaatschappij NV</name>
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        <name>ContourGlobal Power Holdings SA</name>
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        <name>BUNDESREPUB. DEUTSCHLAND</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Pricoa Global Funding I</name>
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        <name>Morgan Stanley Capital Services</name>
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      <invstOrSec>
        <name>FRANCE (GOVT OF)</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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        <cusip>ED3871594</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IQVIA INC</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA, Inc</title>
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          <isin value="XS2305743911"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
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        <cusip>AUD260109</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JFXHLZ1U4"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Willis Engine Structured Trust IX</name>
        <lei>N/A</lei>
        <title>Willis Engine Structured Trust IX</title>
        <cusip>970910AA3</cusip>
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          <isin value="US970910AA35"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500997.55000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-15</maturityDt>
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      <invstOrSec>
        <name>COLT 2025-11 Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>COLT Mortgage Loan Trust</title>
        <cusip>12676KAH6</cusip>
        <identifiers>
          <isin value="US12676KAH68"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2006608.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.95200000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>THAILAND GOVERNMENT BOND</name>
        <lei>254900PHJ6MSKT6C7026</lei>
        <title>Thailand Government Bond</title>
        <cusip>BY4967448</cusip>
        <identifiers>
          <isin value="TH0623A3N603"/>
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        <balance>57650000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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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>EF9180763</cusip>
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          <isin value="XS0276684700"/>
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        <balance>2000000.00000000</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>2035-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STANDARD CHARTERED BANK</name>
        <lei>RILFO74KP1CM8P6PCT96</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JQXHLZRJI"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-16599.29000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Standard Chartered Bank</counterpartyName>
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            <amtCurSold>4296820.62000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JUXHLZWD2"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank N.A.</counterpartyName>
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        <name>REPUBLIC OF ECUADOR</name>
        <lei>5299003Y2U5XK0A35H71</lei>
        <title>Ecuador Government International Bond (Step Bond)</title>
        <cusip>ZO2104560</cusip>
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          <isin value="XS2214239258"/>
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        <balance>86000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67295.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EC</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-31</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>FAIRFAX FINL HLDGS LTD</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>Fairfax Financial Holdings Ltd</title>
        <cusip>AR6731004</cusip>
        <identifiers>
          <isin value="XS1794676400"/>
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        <balance>250000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>MVW Owner Trust</name>
        <lei>N/A</lei>
        <title>MVW LLC</title>
        <cusip>55389TAC5</cusip>
        <identifiers>
          <isin value="US55389TAC53"/>
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        <balance>83413.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80603.11000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.94000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EDP Servicios Financieros Espana SA</name>
        <lei>5299003GHAFB78O1NU77</lei>
        <title>EDP Servicios Financieros Espana SAU</title>
        <cusip>ZH1579908</cusip>
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          <isin value="XS2699159278"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-04</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc</title>
        <cusip>BN6710287</cusip>
        <identifiers>
          <isin value="XS2292954893"/>
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        <balance>1500000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>GBP260108</title>
        <cusip>GBP260108</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>REPUBLIC OF CYPRUS</name>
        <lei>213800IOEYYAHPDLUL60</lei>
        <title>Cyprus Government International Bond</title>
        <cusip>ZP4820368</cusip>
        <identifiers>
          <isin value="XS2105095777"/>
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        <balance>1100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NatWest Group PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>YV6173723</cusip>
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          <isin value="XS2898838516"/>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>AbbVie Inc</name>
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        <name>MetroNet Infrastructure Issuer LLC</name>
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        <name>AIRBUS SE</name>
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        <name>Citibank N.A.</name>
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        <name>Japan Government Ten Year Bond</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Peruvian Government International Bond</name>
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        <name>Dominican Republic International Bond</name>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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        <name>SASOL FINANCING USA LLC</name>
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        <name>INTL BK RECON &amp; DEVELOP</name>
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        <name>PT PERTAMINA (PERSERO)</name>
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        <name>Corp Nacional del Cobre de Chile</name>
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        <name>Province of Ontario Canada</name>
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        <name>HUB International Ltd</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>RCI Banque SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN TOWER CORP</name>
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        <name>Iberdrola Finanzas SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America, N.A.</name>
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        <name>KINGDOM OF MOROCCO</name>
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        <title>Morocco Government International Bond</title>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Banco Mercantil del Norte SA/Grand Cayman</name>
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        <name>ARAB REPUBLIC OF EGYPT</name>
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      <invstOrSec>
        <name>SAUDI ARABIAN OIL CO</name>
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        <name>INTESA SANPAOLO SPA</name>
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        <title>Intesa Sanpaolo S.p.A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Citibank N.A.</name>
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      <invstOrSec>
        <name>FLUTTER FINANCING BV</name>
        <lei>635400VFWPBIKJK6GN11</lei>
        <title>Flutter Financing B.V., Term Loan B</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW S WALES TREASURY CRP</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
        <title>New South Wales Treasury Corp</title>
        <cusip>AP6181865</cusip>
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          <isin value="AU3SG0001720"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>BUNDESREPUB. DEUTSCHLAND</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland</title>
        <cusip>BT2450315</cusip>
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          <isin value="DE0001102580"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Frontier Issuer LLC</name>
        <lei>N/A</lei>
        <title>Frontier Issuer LLC</title>
        <cusip>35910EAK0</cusip>
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          <isin value="US35910EAK01"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>Lmdv Issuer Co LLC</name>
        <lei>254900A6HRP8XHJJGM20</lei>
        <title>Lmdv Issuer Co LLC</title>
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          <isin value="US538908AA26"/>
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        <balance>500000.00000000</balance>
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        <name>TotalEnergies Capital International SA</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>TotalEnergies Capital International S.A.</title>
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          <isin value="XS3015115408"/>
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        <invCountry>FR</invCountry>

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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>KRW260112</title>
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        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
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        <name>Bruegel</name>
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        <title>Bruegel 2021 DAC</title>
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          <isin value="XS2346733517"/>
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        <name>Mitchell International Inc</name>
        <lei>5493002RDNIGEM7SSV41</lei>
        <title>Mitchell International, Inc., First Lien Term Loan</title>
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          <isin value="US60662WAW29"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <name>HUNGARY GOVERNMENT BOND</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>BT4398900</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STANDARD CHARTERED BANK</name>
        <lei>RILFO74KP1CM8P6PCT96</lei>
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        <cusip>AUD260109</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25LBXHM2OHX"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Standard Chartered Bank</counterpartyName>
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            <amtCurSold>7619344.50000000</amtCurSold>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>BO9178522</cusip>
        <identifiers>
          <isin value="CND100045MS9"/>
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        <balance>34000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CNY" exchangeRt="6.98815000"/>
        <valUSD>6107520.30000000</valUSD>
        <pctVal>0.434134597916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.72000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>International Bank for Reconstruction &amp; Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
        <cusip>BT3827768</cusip>
        <identifiers>
          <isin value="XS2431029953"/>
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        <balance>66300000.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="89.87940000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Government Two Year Bond</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Two Year Bond</title>
        <cusip>YR1458995</cusip>
        <identifiers>
          <isin value="JP1024691R25"/>
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        <balance>450000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="156.64000000"/>
        <valUSD>2865843.10000000</valUSD>
        <pctVal>0.203709784134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CBQ Finance Ltd</name>
        <lei>213800FNEMX56U9OHK56</lei>
        <title>CBQ Finance Ltd</title>
        <cusip>ZD9989512</cusip>
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          <isin value="XS2654057970"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>308950.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25KEXHM11PU"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-61264.77000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Australia and New Zealand Banking Group Limited</counterpartyName>
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            <amtCurSold>2700000.00000000</amtCurSold>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Korea Treasury Bond</name>
        <lei>549300O0QCVSQGPGDT58</lei>
        <title>Korea Treasury Bond</title>
        <cusip>YS9198294</cusip>
        <identifiers>
          <isin value="KR103503GF38"/>
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        <balance>27671000000.00010000</balance>
        <units>PA</units>
        <currencyConditional curCd="KRW" exchangeRt="1440.55000000"/>
        <valUSD>18740606.43000000</valUSD>
        <pctVal>1.332119295159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25KZXHM2H2I"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-13744.46000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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            <amtCurSold>1000000.00000000</amtCurSold>
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            <settlementDt>2026-01-08</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Toronto Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>AUD260109</title>
        <cusip>AUD260109</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25JGXHLZ5GY"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-36592.83000000</valUSD>
        <pctVal>-0.00260109058</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Toronto Dominion Bank</counterpartyName>
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            <amtCurSold>4532053.00000000</amtCurSold>
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            <settlementDt>2026-01-09</settlementDt>
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        <securityLending>
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      <invstOrSec>
        <name>Heineken NV</name>
        <lei>724500K5PTPSST86UQ23</lei>
        <title>Heineken NV</title>
        <cusip>YK4399217</cusip>
        <identifiers>
          <isin value="XS3195038206"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2936722.21000000</valUSD>
        <pctVal>0.208748011174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.56500000</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>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>ZD2171464</cusip>
        <identifiers>
          <isin value="GB00BPSNBF73"/>
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        <balance>18600000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JNXHLZI8H"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank N.A.</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>JPY260202</title>
        <cusip>JPY260202</cusip>
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        <balance>1.00000000</balance>
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        <valUSD>-28189.42000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>NOK260108</title>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Goldman Sachs</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25J2XHM0IKM"/>
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        <balance>1.00000000</balance>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs</counterpartyName>
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            <amtCurSold>1542884.69000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>VZ SECURED FINANCING BV</name>
        <lei>549300MG611MYCOWY949</lei>
        <title>VZ Secured Financing BV</title>
        <cusip>BT3367682</cusip>
        <identifiers>
          <isin value="XS2431016034"/>
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        <balance>1150000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>1258777.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank N.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THALES SA</name>
        <lei>529900FNDVTQJOVVPZ19</lei>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Amcor UK Finance PLC</name>
        <lei>549300DEUV6BE727FP17</lei>
        <title>Amcor UK Finance plc</title>
        <cusip>0234EVAC5</cusip>
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          <isin value="XS3229090801"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
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          <isin value="XS3005215093"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2023-R04</name>
        <lei>N/A</lei>
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        <cusip>20754QAB4</cusip>
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          <isin value="US20754QAB41"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-25</maturityDt>
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        <name>UNITED KINGDOM GILT</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>BJ7876565</cusip>
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          <isin value="GB00BMBL1F74"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ORLEN SA</name>
        <lei>259400VVMM70CQREJT74</lei>
        <title>ORLEN S.A.</title>
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          <isin value="US68666UAA34"/>
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        <invCountry>PL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Bundesrepublik Deutschland Bundesanleihe</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland Bundesanleihe</title>
        <cusip>ZB2054722</cusip>
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          <isin value="DE000BU2F009"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Thermo Fisher Scientific Finance I BV</name>
        <lei>549300SM0PJC1F3RPL91</lei>
        <title>Thermo Fisher Scientific Finance I BV</title>
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          <isin value="XS3241802811"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BOI FINANCE BV</name>
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        <name>Federal Home Loan Bank Discount Notes</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>Federal Home Loan Bank (FHLB)</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Avolon TLB Borrower 1 US LLC</name>
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        <name>Singapore Government Bond</name>
        <lei>549300ZSV6VOGFH1ER70</lei>
        <title>Singapore Government Bond</title>
        <cusip>YR8283321</cusip>
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        <name>Entain Holdings Gibraltar Ltd</name>
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        <name>Connecticut Avenue Securities Trust 2023-R07</name>
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        <name>SUZANO AUSTRIA GMBH</name>
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        <title>Suzano Austria GmbH</title>
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        <name>THAILAND GOVERNMENT BOND</name>
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        <title>Thailand Government International Bond</title>
        <cusip>AV1262212</cusip>
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          <isin value="TH062303I602"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PROXIMUS SADP</name>
        <lei>549300CWRXC5EP004533</lei>
        <title>Proximus SADP</title>
        <cusip>BS3563688</cusip>
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          <isin value="BE0002830116"/>
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        <balance>800000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <cusip>JPY260109</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JNXHLZJJX"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank N.A.</counterpartyName>
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      <invstOrSec>
        <name>Bundesobligation</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesobligation</title>
        <cusip>YN9615702</cusip>
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          <isin value="DE000BU25059"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>Prologis Euro Finance LLC</name>
        <lei>549300MI5D1784PRQH06</lei>
        <title>ProLogis Euro Finance LLC</title>
        <cusip>74341EAT9</cusip>
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          <isin value="XS3186907823"/>
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        <balance>1650000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-22</maturityDt>
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      <invstOrSec>
        <name>Canadian Government Bond</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canadian Government Bond</title>
        <cusip>135087R89</cusip>
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          <isin value="CA135087R895"/>
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        <balance>22475000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.37255000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>CAD260108</title>
        <cusip>CAD260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JGXHLZ4PN"/>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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      <invstOrSec>
        <name>HIGHLAND HOLDINGS SARL</name>
        <lei>549300WGY8GPJM4PQR36</lei>
        <title>Highland Holdings Sarl</title>
        <cusip>BS2119425</cusip>
        <identifiers>
          <isin value="XS2406914346"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.31800000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>JPY260109</title>
        <cusip>JPY260109</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25KEXHM12DU"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PepsiCo Inc</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc</title>
        <cusip>713448GE2</cusip>
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          <isin value="XS3121137916"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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      <invstOrSec>
        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>ZO3452687</cusip>
        <identifiers>
          <isin value="CND10003N750"/>
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        <balance>50300000.00000000</balance>
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        <valUSD>9119917.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.81000000</annualizedRt>
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      <invstOrSec>
        <name>Severn Trent Utilities Finance PLC</name>
        <lei>213800KY9PT6WBH33232</lei>
        <title>Severn Trent Utilities Finance plc</title>
        <cusip>BU4408904</cusip>
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          <isin value="XS2445344570"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Guatemala Government Bond</name>
        <lei>529900QKDFFU9UWW5315</lei>
        <title>Guatemala Government Bond</title>
        <cusip>401494BA6</cusip>
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          <isin value="US401494BA67"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GT</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>AVANTOR FUNDING INC</name>
        <lei>5493003VM0XB4U8YD238</lei>
        <title>Avantor Funding, Inc</title>
        <cusip>BK4245605</cusip>
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          <isin value="XS2205083822"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BUONI POLIENNALI DEL TES</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>BK4597278</cusip>
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          <isin value="IT0005416570"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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        <name>Cadent Finance PLC</name>
        <lei>5493005M8TJ0J6IMUF67</lei>
        <title>Cadent Finance plc</title>
        <cusip>ZB2787628</cusip>
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          <isin value="XS2801122917"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-16</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>INTER-AMERICAN DEVEL BK</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>Inter-American Development Bank</title>
        <cusip>ZL9360419</cusip>
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          <isin value="XS2608242108"/>
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        <balance>33000000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>YJ6168613</cusip>
        <identifiers>
          <isin value="XS3219356568"/>
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        <name>Morgan Stanley Capital Services</name>
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        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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      <invstOrSec>
        <name>Spain Government Bond</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government International Bond</title>
        <cusip>ZF2464195</cusip>
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          <isin value="ES0000012M85"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>LA POSTE SA</name>
        <lei>9695000YG7TR7PAP0L59</lei>
        <title>La Poste S.A.</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF ECUADOR</name>
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          <isin value="XS2214238524"/>
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        <invCountry>EC</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
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        <cusip>EUR260108</cusip>
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        <name>SAUDI ELEC GLB SUKUK</name>
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        <title>Saudi Electricity Global Sukuk Co 5</title>
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          <isin value="XS2203996306"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NORWEGIAN GOVERNMENT</name>
        <lei>549300L0BT3FJTN9MX24</lei>
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        <cusip>BN9945377</cusip>
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          <isin value="NO0010930522"/>
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        <invCountry>NO</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-17</maturityDt>
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          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>UKG Inc</name>
        <lei>529900FKHWSTQ1GXK240</lei>
        <title>UKG Inc., Term Loan B</title>
        <cusip>89841EAB1</cusip>
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          <isin value="US89841EAB11"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-10</maturityDt>
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        <name>BELGIUM KINGDOM</name>
        <lei>549300SZ25JZFHRHWD76</lei>
        <title>Kingdom of Belgium Government International Bond</title>
        <cusip>AW9463752</cusip>
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          <isin value="BE0000348574"/>
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        <balance>675000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.70000000</annualizedRt>
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        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>AZ6421871</cusip>
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          <isin value="CND10002D1Y9"/>
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        <balance>18900000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>HELLENIC REPUBLIC</name>
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        <title>Hellenic Republic Government International Bond</title>
        <cusip>AX5202350</cusip>
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          <isin value="GR0124035693"/>
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        <balance>575000.00000000</balance>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Freddie Mac STACR REMIC Trust 2023-DNA1</name>
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        <title>Freddie Mac STACR REMIC Trust</title>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Suzano Netherlands BV</name>
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          <isin value="US86960YAA01"/>
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        <curCd>USD</curCd>
        <valUSD>768319.50000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPAN (30 YEAR ISSUE)</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bond</title>
        <cusip>BR9216051</cusip>
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          <isin value="JP1300721MA9"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-20</maturityDt>
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      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>NOK260108</title>
        <cusip>NOK260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JFXHLZ1RE"/>
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        <balance>1.00000000</balance>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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      <invstOrSec>
        <name>UGANDA GOVERNMENT BOND</name>
        <lei>549300NF1DEFHG8XLQ11</lei>
        <title>Republic of Uganda Government Bonds</title>
        <cusip>AZ5159746</cusip>
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          <isin value="UG12K2206346"/>
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        <balance>12450000000.00010000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.25000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2024-R02</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust</title>
        <cusip>20754GAE0</cusip>
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          <isin value="US20754GAE08"/>
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        <balance>1350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1359008.55000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.15001000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CHF260108</title>
        <cusip>CHF260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25KZXHM2GC1"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-14118.24000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank N.A.</counterpartyName>
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            <settlementDt>2026-01-08</settlementDt>
            <unrealizedAppr>-14118.24000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>ADANI ELECTRICITY MUMBAI</name>
        <lei>335800AIC1B5EBFVUC38</lei>
        <title>Adani Electricity Mumbai Ltd</title>
        <cusip>00654GAB9</cusip>
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          <isin value="US00654GAB95"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>269763.96000000</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>2031-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.86700000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ISRAEL ELECTRIC CORP LTD</name>
        <lei>254900JW7GE35YNJGJ55</lei>
        <title>Israel Electric Corp Ltd</title>
        <cusip>465077AL9</cusip>
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          <isin value="IL0060002446"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>790252.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Goldman Sachs</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25J1XHM0FZA"/>
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        <curCd>USD</curCd>
        <valUSD>-6967.02000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Crescendo Royalty Funding LP</name>
        <lei>N/A</lei>
        <title>Crescendo Royalty Funding LP</title>
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          <isin value="US225638AA35"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-20</maturityDt>
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      <invstOrSec>
        <name>Kingdom of Belgium Government Bond</name>
        <lei>549300SZ25JZFHRHWD76</lei>
        <title>Kingdom of Belgium Government Bond</title>
        <cusip>YO4762242</cusip>
        <identifiers>
          <isin value="BE0000365743"/>
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        <balance>3725000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>NOK260108</title>
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          <other otherDesc="BANK IDENTIFIER" value="25J1XHM0BUF"/>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>ZM3378175</cusip>
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          <isin value="IT0005530032"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-01</maturityDt>
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          <annualizedRt>4.45000000</annualizedRt>
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        <name>REPUBLIC OF CYPRUS</name>
        <lei>213800IOEYYAHPDLUL60</lei>
        <title>Cyprus Government International Bond</title>
        <cusip>ZS3023307</cusip>
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          <isin value="XS1989383788"/>
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        <balance>500000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-05-03</maturityDt>
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        <name>BMW International Investment BV</name>
        <lei>724500J951RJJFEW5X49</lei>
        <title>BMW International Investment BV</title>
        <cusip>YS7121074</cusip>
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          <isin value="XS2985139356"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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      <invstOrSec>
        <name>REPUBLIC OF CYPRUS</name>
        <lei>213800IOEYYAHPDLUL60</lei>
        <title>Cyprus Government International Bond</title>
        <cusip>BT4945783</cusip>
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          <isin value="XS2434393968"/>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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          <isin value="XS2837803928"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESKOM HOLDINGS SOC LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DOMINICAN REPUBLIC</name>
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          <isin value="US25714PEF18"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Korea Treasury Bond</name>
        <lei>549300O0QCVSQGPGDT58</lei>
        <title>Korea Treasury Bond</title>
        <cusip>YP9354505</cusip>
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          <isin value="KR103502GF62"/>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-10</maturityDt>
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        <name>Spain Government Bond</name>
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          <isin value="ES0000012L60"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Egypt Treasury Bills</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Treasury Bills</title>
        <cusip>YP3671276</cusip>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CLOVERIE PLC ZURICH INS</name>
        <lei>5493002N598MXOKUEF55</lei>
        <title>Cloverie plc for Zurich Insurance Co Ltd</title>
        <cusip>AV0889999</cusip>
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          <isin value="XS1890836296"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>KOREA TREASURY BOND</name>
        <lei>549300O0QCVSQGPGDT58</lei>
        <title>Korea Treasury Bond</title>
        <cusip>BR7206518</cusip>
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          <isin value="KR103502GBC0"/>
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        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Brazilian Government International Bond</name>
        <lei>254900ZFY40OYEADAP90</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Ulker Biskuvi Sanayi AS</name>
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        <title>Ulker Biskuvi Sanayi AS.</title>
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          <isin value="US903742AB05"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG.</title>
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          <isin value="DE000DL19U23"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BUONI POLIENNALI DEL TES</name>
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        <title>Italy Buoni Poliennali Del Tesoro</title>
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        <name>Bank of America, N.A.</name>
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        <name>Bank of America, N.A.</name>
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        <name>CELULOSA ARAUCO CONSTITU</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Queensland Treasury Corp</name>
        <lei>98INKCEEHOU5YJS0HQ88</lei>
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        <cusip>ZM7412517</cusip>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Colombia Government International Bond</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>COMCAST CORP</name>
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        <name>Verus Securitization Trust</name>
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        <name>Goldman Sachs</name>
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        <name>Bidvest Group UK PLC/The</name>
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        <name>PERUSAHAAN LISTRIK NEGAR</name>
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        <name>Air Canada</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Federation des Caisses Desjardins du Quebec</name>
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        <name>Canadian Government Bond</name>
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        <name>THAIOIL TRSRY CENTER</name>
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        <name>Air Liquide Finance SA</name>
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        <name>Garda World Security Corp</name>
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        <name>Toronto Dominion Bank</name>
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        <name>Prologis Euro Finance LLC</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Republic of Poland Government International Bond</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
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        <invCountry>MX</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN MEDICAL SYST EU</name>
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        <name>BAMLL Trust 2025-ASHF</name>
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        <name>Citibank N.A.</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Traton Finance Luxembourg SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>JAPAN (10 YEAR ISSUE)</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Ten Year Bond</title>
        <cusip>QZ4138504</cusip>
        <identifiers>
          <isin value="JP1103441G98"/>
        </identifiers>
        <balance>284000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="156.64000000"/>
        <valUSD>1803623.86000000</valUSD>
        <pctVal>0.128205143952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>71654QDC3</cusip>
        <identifiers>
          <isin value="US71654QDC33"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507750.84000000</valUSD>
        <pctVal>0.036091931903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.84000000</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>Hellenic Republic Government Bond</name>
        <lei>2138003EKTMKZ5598902</lei>
        <title>Hellenic Republic Government International Bond</title>
        <cusip>ZB6605172</cusip>
        <identifiers>
          <isin value="GR0138018842"/>
        </identifiers>
        <balance>650000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>745394.10000000</valUSD>
        <pctVal>0.052984083883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC WHOLESALE</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>JPY260209</title>
        <cusip>JPY260209</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25LLXHM3ARV"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27951.66000000</valUSD>
        <pctVal>-0.00198685916</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Barclays Bank Plc Wholesale</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
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            <amtCurSold>4967240.05000000</amtCurSold>
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            <amtCurPur>771000000.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2026-02-09</settlementDt>
            <unrealizedAppr>-27951.66000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUNGARY</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government International Bond</title>
        <cusip>445545AR7</cusip>
        <identifiers>
          <isin value="US445545AR73"/>
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        <balance>285000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295544.11000000</valUSD>
        <pctVal>0.021007858682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>JPY260109</title>
        <cusip>JPY260109</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25JNXHLZJK0"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>39158.84000000</valUSD>
        <pctVal>0.002783487638</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Citibank N.A.</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <amtCurSold>151651304.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>1008117.68000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-01-09</settlementDt>
            <unrealizedAppr>39158.84000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>ZF2680865</cusip>
        <identifiers>
          <isin value="GB00BPSNBB36"/>
        </identifiers>
        <balance>7275000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>8602783.33000000</valUSD>
        <pctVal>0.611502819226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust</title>
        <cusip>05594LAE4</cusip>
        <identifiers>
          <isin value="US05594LAE48"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003977.60000000</valUSD>
        <pctVal>0.071364709453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50012000</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 N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>JPY260109</title>
        <cusip>JPY260109</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25JUXHLZXER"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>113371.31000000</valUSD>
        <pctVal>0.008058656486</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank N.A.</counterpartyName>
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            <amtCurSold>451928087.00000000</amtCurSold>
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            <settlementDt>2026-01-09</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ECOPETROL SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol S.A.</title>
        <cusip>279158AS8</cusip>
        <identifiers>
          <isin value="US279158AS81"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>320382.68000000</valUSD>
        <pctVal>0.022773433264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF PERU</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Peruvian Government International Bond</title>
        <cusip>715638CZ3</cusip>
        <identifiers>
          <isin value="US715638CZ34"/>
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        <balance>15351000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="PEN" exchangeRt="3.36110000"/>
        <valUSD>4548369.12000000</valUSD>
        <pctVal>0.323307054597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Amcor UK Finance PLC</name>
        <lei>549300DEUV6BE727FP17</lei>
        <title>Amcor UK Finance plc</title>
        <cusip>0234EVAB7</cusip>
        <identifiers>
          <isin value="XS2821714735"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>1784205.12000000</valUSD>
        <pctVal>0.126824821584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>CAD260108</title>
        <cusip>CAD260108</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25KGXHM18U5"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-111556.71000000</valUSD>
        <pctVal>-0.00792967113</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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            <amtCurPur>5012195.69000000</amtCurPur>
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            <settlementDt>2026-01-08</settlementDt>
            <unrealizedAppr>-111556.71000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TIME WARNER CABLE LLC</name>
        <lei>549300U5NFR7S6E3GM41</lei>
        <title>Time Warner Cable LLC</title>
        <cusip>88732JAZ1</cusip>
        <identifiers>
          <isin value="XS0630584166"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>814913.40000000</valUSD>
        <pctVal>0.057925652943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THERMO FISHER SC FNCE I</name>
        <lei>549300SM0PJC1F3RPL91</lei>
        <title>Thermo Fisher Scientific Finance I BV</title>
        <cusip>BR7759565</cusip>
        <identifiers>
          <isin value="XS2366407018"/>
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        <balance>2100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2231156.91000000</valUSD>
        <pctVal>0.158595037009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Canada Housing Trust No 1</name>
        <lei>549300M44WH89JG50067</lei>
        <title>Canada Housing Trust No</title>
        <cusip>13509PKB8</cusip>
        <identifiers>
          <isin value="CA13509PKB80"/>
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        <balance>2405000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37255000"/>
        <valUSD>1738440.64000000</valUSD>
        <pctVal>0.123571792016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</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>Taurus 2025-2 UK DAC</name>
        <lei>635400ZUSGYHROR9ZX12</lei>
        <title>Taurus UK DAC</title>
        <cusip>BCC3LBX18</cusip>
        <identifiers>
          <isin value="XS3025430896"/>
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        <balance>897861.28000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>1213093.71000000</valUSD>
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        <name>BUONI POLIENNALI DEL TES</name>
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        <name>Citibank N.A.</name>
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        <name>Volkswagen International Finance NV</name>
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        <name>Bank of America, N.A.</name>
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        <name>Citibank N.A.</name>
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        <name>Citibank N.A.</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Citibank N.A.</name>
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        <name>Embraer Netherlands Finance BV</name>
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        <name>Goldman Sachs</name>
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        <name>ALEN 2021-ACEN Mortgage Trust</name>
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        <name>JAPAN (30 YEAR ISSUE)</name>
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        <name>UNITED KINGDOM GILT</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Citibank N.A.</name>
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        <name>Federation des Caisses Desjardins du Quebec</name>
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        <name>STANDARD CHARTERED BANK</name>
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        <name>Mexico Government International Bond</name>
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        <name>ALFA DESARROLLO SPA</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Connecticut Avenue Securities Trust 2023-R06</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Unilever Capital Corp</name>
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        <name>Morgan Stanley Capital Services</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Goldman Sachs</name>
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        <name>United Kingdom Gilt</name>
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        <name>STANDARD CHARTERED PLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Uruguay Government International Bond</name>
        <lei>549300RDR012H2V82H43</lei>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <lei>969500KCGF3SUYJHPV70</lei>
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        <name>United Kingdom Gilt</name>
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        <name>HELLENIC REPUBLIC</name>
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        <name>Japan Treasury Discount Bill</name>
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        <name>Citibank N.A.</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Morgan Stanley Capital Services</name>
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      <invstOrSec>
        <name>China Government Bond</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MILLICOM INTL CELLULAR</name>
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        <name>Citibank N.A.</name>
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        <name>New Zealand Government Bond</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Sequoia Logistics 2025-1 DAC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Sage AR Funding</name>
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          <isin value="XS3032970736"/>
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        <name>STATE STR NAVIGATOR SECS L TR</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MEX BONOS DESARR FIX RT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Australia and New Zealand Banking Group Limited</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Alphabet Inc</name>
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        <name>REPUBLIC OF POLAND</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jade Finance Designated Activity Co</name>
        <lei>635400CRV6HKMHJF8S64</lei>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
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      <invstOrSec>
        <name>China Government Bond</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>ZH3763864</cusip>
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          <isin value="CND1000716Y2"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank N.A.</name>
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        <name>Lineage Europe Finco BV</name>
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        <title>Lineage Europe Finco BV</title>
        <cusip>5510AAA25</cusip>
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          <isin value="XS3237166502"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Mercedes-Benz International Finance BV</name>
        <lei>529900RUGCXMPEENHQ31</lei>
        <title>Mercedes-Benz International Finance BV</title>
        <cusip>YX5582839</cusip>
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          <isin value="XS2838904907"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-12</maturityDt>
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      <invstOrSec>
        <name>Planet Fitness Master Issuer LLC</name>
        <lei>549300NX9W3U2DO53T22</lei>
        <title>Planet Fitness Master Issuer LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Enel Finance International NV</name>
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        <title>Enel Finance International NV</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BUONI POLIENNALI DEL TES</name>
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        <title>Italy Buoni Poliennali Del Tesoro</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>ORGANON &amp; CO/ORG</name>
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        <title>Organon Finance  LLC</title>
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        <name>PROTECTIVE LIFE GLOBAL</name>
        <lei>635400EVYITCJYWL2I50</lei>
        <title>Protective Life Global Funding</title>
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          <isin value="XS2565082901"/>
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        <fairValLevel>2</fairValLevel>
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        <name>JAPAN (20 YEAR ISSUE)</name>
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        <invCountry>JP</invCountry>

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        <name>TotalEnergies Capital International SA</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>TotalEnergies Capital International S.A.</title>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FRANCE (GOVT OF)</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic Government Bond OAT</title>
        <cusip>ZP7360719</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ukraine Government International Bond</name>
        <lei>6354001WLTJXOMEXPY07</lei>
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        <cusip>903724CF7</cusip>
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          <isin value="US903724CF76"/>
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        <invCountry>UA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chile Government International Bond</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government International Bond</title>
        <cusip>YN6832904</cusip>
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          <isin value="XS3107229281"/>
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        <balance>1880000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>International Finance Corp</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>International Finance Corp</title>
        <cusip>DA1965494</cusip>
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          <isin value="XS3230556618"/>
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        <balance>24200000000.00010000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
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      <invstOrSec>
        <name>Carrier Global Corp</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corp</title>
        <cusip>14448CBG8</cusip>
        <identifiers>
          <isin value="XS2751689048"/>
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        <balance>2000000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JAPAN (30 YEAR ISSUE)</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bond</title>
        <cusip>ZO8080129</cusip>
        <identifiers>
          <isin value="JP1300681LA7"/>
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        <balance>73000000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.64000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.60000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ANGLOGOLD HOLDINGS PLC</name>
        <lei>213800745ZIXC4L6A131</lei>
        <title>AngloGold Ashanti Holdings plc</title>
        <cusip>03512TAE1</cusip>
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          <isin value="US03512TAE10"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239390.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>BONOS Y OBLIG DEL ESTADO</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government International Bond</title>
        <cusip>AZ1293424</cusip>
        <identifiers>
          <isin value="ES0000012F43"/>
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        <balance>4625000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>5064607.44000000</valUSD>
        <pctVal>0.360002293331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.60000000</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>Sunrise FinCo I BV</name>
        <lei>213800MNFBDEQRS6HZ22</lei>
        <title>Sunrise FinCo I BV</title>
        <cusip>YO7478713</cusip>
        <identifiers>
          <isin value="XS3082829022"/>
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        <balance>1900000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2254016.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>GBP260108</title>
        <cusip>GBP260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JGXHLZ43Z"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-459.44000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Energuate Trust 2 0</name>
        <lei>2549000ZL9MU01FZK194</lei>
        <title>Energuate Trust 2 0</title>
        <cusip>29277RAB1</cusip>
        <identifiers>
          <isin value="US29277RAB15"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>799691.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>GBP260108</title>
        <cusip>GBP260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JIXHLZAMZ"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12687.43000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25KKXHM1EB2"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-66381.39000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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      <invstOrSec>
        <name>TEMASEK FINANCIAL I LTD</name>
        <lei>549300XMGMDF3VRJMF12</lei>
        <title>Temasek Financial I Ltd</title>
        <cusip>ZQ5981167</cusip>
        <identifiers>
          <isin value="XS2080785343"/>
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        <balance>200000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>203292.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>GBP260108</title>
        <cusip>GBP260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25LJXHM34LQ"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-17852.89000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>BP CAPITAL MARKETS PLC</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP Capital Markets plc</title>
        <cusip>ZS4387933</cusip>
        <identifiers>
          <isin value="XS1992927902"/>
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        <balance>2050000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2179419.86000000</valUSD>
        <pctVal>0.154917465376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.23100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TK Elevator US Newco Inc</name>
        <lei>549300C2AFWPAYWS5574</lei>
        <title>TK Elevator Midco GmbH, Term Loan B</title>
        <cusip>BL5017431</cusip>
        <identifiers>
          <isin value="XAD9000BAJ17"/>
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        <balance>497752.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501413.47000000</valUSD>
        <pctVal>0.035641459134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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          <isin value="XS2837778559"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale S.A.</title>
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          <isin value="FR001400M6F5"/>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Uruguay Government International Bond</name>
        <lei>549300RDR012H2V82H43</lei>
        <title>Uruguay Government International Bond</title>
        <cusip>760942BJ0</cusip>
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          <isin value="US760942BJ08"/>
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        <balance>42600000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>UY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPAN FIN ORG MUNICIPAL</name>
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          <isin value="JP351265AG15"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-19</maturityDt>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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          <other otherDesc="BANK IDENTIFIER" value="25JNXHLZJJY"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Italy Buoni Poliennali Del Tesoro</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>YW6730231</cusip>
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          <isin value="IT0005607970"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
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          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>PERUSAHAAN LISTRIK NEGAR</name>
        <lei>254900OYVDRYS9J51J61</lei>
        <title>Perusahaan Listrik Negara PT</title>
        <cusip>71568PAF6</cusip>
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          <isin value="US71568PAF62"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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      <invstOrSec>
        <name>Swiss Confederation Government Bond</name>
        <lei>5067006OA1BJ88912Q83</lei>
        <title>Swiss Confederation Government Bond</title>
        <cusip>BP9778252</cusip>
        <identifiers>
          <isin value="CH0557778310"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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      <invstOrSec>
        <name>Citibank N.A.</name>
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      <invstOrSec>
        <name>Ukraine Government International Bond</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government International Bond</title>
        <cusip>903724CG5</cusip>
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          <isin value="US903724CG59"/>
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        <balance>73700.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>

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          <maturityDt>2036-02-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>PERUSAHAAN LISTRIK NEGAR</name>
        <lei>254900OYVDRYS9J51J61</lei>
        <title>Perusahaan Listrik Negara PT</title>
        <cusip>71568PAK5</cusip>
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        <name>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
        <cusip>YV4264995</cusip>
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          <isin value="XS2891741923"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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        <name>Canadian Imperial Bank of Commerce</name>
        <lei>N/A</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>C242884W6</cusip>
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          <isin value="XS3118936452"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BUONI POLIENNALI DEL TES</name>
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        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>QZ0167556</cusip>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.25000000</annualizedRt>
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        <name>CZECH REPUBLIC</name>
        <lei>3157007EFDLQABN47912</lei>
        <title>Czech Republic Government Bond</title>
        <cusip>EK9125668</cusip>
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          <isin value="CZ0001004477"/>
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        <balance>174850000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ERSTE GROUP BANK AG</name>
        <lei>PQOH26KWDF7CG10L6792</lei>
        <title>Erste Group Bank AG.</title>
        <cusip>BM5824776</cusip>
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          <isin value="AT0000A2L583"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BONOS TESORERIA PESOS</name>
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      <invstOrSec>
        <name>Toronto Dominion Bank</name>
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        <name>Johnson &amp; Johnson</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GOODYEAR EUROPE BV</name>
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          <isin value="XS2390510225"/>
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        <name>Goldman Sachs Group Inc/The</name>
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      <invstOrSec>
        <name>Japan Government Twenty Year Bond</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bond</title>
        <cusip>YM2016728</cusip>
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          <isin value="JP1201931R78"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-20</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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        <name>Abu Dhabi Commercial Bank PJSC</name>
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        <invCountry>AE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HELLENIC REPUBLIC</name>
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          <isin value="GR0124038721"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>STANDARD CHARTERED BANK</name>
        <lei>RILFO74KP1CM8P6PCT96</lei>
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        <name>Atom Mortgage Securities</name>
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        <title>Atom Mortgage Securities DAC</title>
        <cusip>BCC31RXV9</cusip>
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        <name>BMS Ireland Capital Funding Designated Activity Co</name>
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        <name>KOREA TREASURY BOND</name>
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        <title>Korea Treasury Bond</title>
        <cusip>ZR8283619</cusip>
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          <isin value="KR103502G9C8"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Intesa Sanpaolo SpA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COOPERATIEVE RABOBANK UA</name>
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        <title>Cooperatieve Rabobank UA</title>
        <cusip>ZK2163879</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Caterpillar Financial Services Corp</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp</title>
        <cusip>DA3586843</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Duke Energy Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bimbo Bakeries USA Inc</name>
        <lei>549300HOXXHHT7926W92</lei>
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          <isin value="US09031WAE30"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc</title>
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          <isin value="XS3214409750"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-22</maturityDt>
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          <annualizedRt>2.92800000</annualizedRt>
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        <name>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>YS3109495</cusip>
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          <isin value="GB00BSQNRD01"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-07</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <name>Freddie Mac - STACR</name>
        <lei>5493000IS30HKV5IAS29</lei>
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          <isin value="US35564KH776"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>9.62419000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>NOK260108</title>
        <cusip>NOK260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JGXHLZ44A"/>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United Utilities Water Finance PLC</name>
        <lei>213800313INX42GDLR44</lei>
        <title>United Utilities Water Finance plc</title>
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          <isin value="XS2608701574"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
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        <title>CHF260108</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
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          <other otherDesc="BANK IDENTIFIER" value="25J3XHM0L7X"/>
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        <name>TransDigm Inc</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc., Term Loan J</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital Services</name>
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        <name>CANADIAN GOVERNMENT</name>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>CODELCO INC</name>
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        <title>Corp Nacional del Cobre de Chile</title>
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        <invCountry>CL</invCountry>

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        <name>ORIX CORP</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX Corp</title>
        <cusip>BV8706426</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Reckitt Benckiser Treasury Services PLC</name>
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        <name>ING Groep NV</name>
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        <name>Bank of America, N.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
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        <name>Hungary Government International Bond</name>
        <lei>5299003F3UFKGCCMAP43</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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          <isin value="IT0005647265"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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      <invstOrSec>
        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>BG6396942</cusip>
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          <isin value="CND10002M200"/>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-16</maturityDt>
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      <invstOrSec>
        <name>EnBW International Finance BV</name>
        <lei>724500CNCIO1ZTJ0X675</lei>
        <title>EnBW International Finance BV</title>
        <cusip>ZG2008172</cusip>
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          <isin value="XS2722717555"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-23</maturityDt>
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        <name>Nestle Holdings Inc</name>
        <lei>549300EAEU8YV8MQXP30</lei>
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          <isin value="XS2689044258"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-21</maturityDt>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>EUR260108</title>
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        <name>Cologix Data Centers Issuer LL</name>
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        <name>Ivory Coast Government International Bond</name>
        <lei>254900ICW11T82O6H590</lei>
        <title>Ivory Coast Government International Bond</title>
        <cusip>221625AV8</cusip>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mor</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Celulosa Arauco y Constitucion SA</name>
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        <name>MCKESSON CORP</name>
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        <title>McKesson Corp</title>
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        <name>BroadStreet Partners Inc</name>
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        <name>India Government Bond</name>
        <lei>335800IV7VCDQGIOI391</lei>
        <title>India Government International Bond</title>
        <cusip>ZI2598574</cusip>
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        <name>Freddie Mac - STACR</name>
        <lei>5493000ISU5NYXNHD479</lei>
        <title>Freddie Mac STACR REMIC Trust</title>
        <cusip>35564KJA8</cusip>
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        <name>DB Master Finance LLC</name>
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        <name>REPUBLIC OF SERBIA</name>
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        <name>Volkswagen Financial Services AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ECOPETROL SA</name>
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        <name>Australia Government Bond</name>
        <lei>213800J6B7JSBDETCB42</lei>
        <title>Australia Government Bond</title>
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          <isin value="AU000XCLWAQ1"/>
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        <name>Citibank N.A.</name>
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        <name>Subway Funding LLC</name>
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        <name>BUONI POLIENNALI DEL TES</name>
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        <title>Italy Buoni Poliennali Del Tesoro</title>
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        <invCountry>IT</invCountry>

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        <name>ELECTRICITE DE FRANCE SA</name>
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        <name>PG Polaris BidCo Sarl</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Hellenic Republic Government Bond</name>
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        <name>BUNDESREPUB. DEUTSCHLAND</name>
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        <title>Bundesrepublik Deutschland</title>
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        <name>Gruma SAB de CV</name>
        <lei>5493000XJLJ6C4T0PG82</lei>
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        <name>Bank of America, N.A.</name>
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        <name>Australia and New Zealand Banking Group Limited</name>
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        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25KSXHM1XZL"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>YX4985991</cusip>
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          <isin value="XS2829592679"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF SOUTH AFRICA</name>
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          <isin value="ZAG000125972"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-28</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Windfall Mining Group Inc / Groupe Minier Windfall Inc</name>
        <lei>984500E4L49391BFF948</lei>
        <title>Windfall Mining Group, Inc</title>
        <cusip>973244AA4</cusip>
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          <isin value="US973244AA44"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>835527.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-13</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JAPAN (20 YEAR ISSUE)</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bond</title>
        <cusip>EF3295013</cusip>
        <identifiers>
          <isin value="JP1200851630"/>
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        <balance>131800000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</annualizedRt>
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      <invstOrSec>
        <name>Benin Government International Bond</name>
        <lei>635400Q11P6AE5A5Y230</lei>
        <title>Benin Government International Bond</title>
        <cusip>08205QAC2</cusip>
        <identifiers>
          <isin value="US08205QAC24"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>786827.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BJ</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JAPAN FIN ORG MUNICIPAL</name>
        <lei>5493007YYYNZ4NMEOD64</lei>
        <title>Japan Finance Organization for Municipalities</title>
        <cusip>JK9352085</cusip>
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          <isin value="JP351265AG56"/>
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        <balance>14000000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="156.64000000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02000000</annualizedRt>
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      <invstOrSec>
        <name>British Telecommunications PLC</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>British Telecommunications plc</title>
        <cusip>YX7286876</cusip>
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          <isin value="XS2839008948"/>
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        <balance>2400000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <pctVal>0.202848993516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NE PROPERTY BV</name>
        <lei>7245006AG9J70KOIJH36</lei>
        <title>NE Property BV</title>
        <cusip>BT5130062</cusip>
        <identifiers>
          <isin value="XS2434763483"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>278201.46000000</valUSD>
        <pctVal>0.019775108889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale S.A.</title>
        <cusip>ZN2757146</cusip>
        <identifiers>
          <isin value="FR001400DZM5"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>723537.20000000</valUSD>
        <pctVal>0.051430452290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>National Grid North America Inc</name>
        <lei>5Q3U0WRKWZZGRMPYFT08</lei>
        <title>National Grid North America, Inc</title>
        <cusip>YV4272311</cusip>
        <identifiers>
          <isin value="XS2894931588"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <pctVal>0.125348318908</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Poland Government Bond</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland Government International Bond</title>
        <cusip>EH5337827</cusip>
        <identifiers>
          <isin value="PL0000105391"/>
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        <balance>28525000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="PLN" exchangeRt="3.59000000"/>
        <valUSD>8328735.70000000</valUSD>
        <pctVal>0.592022972772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STATNETT SF</name>
        <lei>5967007LIEEXZXHAI017</lei>
        <title>Statnett SF</title>
        <cusip>ZK8299164</cusip>
        <identifiers>
          <isin value="XS2631835332"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>YR0755938</cusip>
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          <isin value="GB00BT7J0027"/>
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        <balance>10875000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Tata Capital Ltd</name>
        <lei>335800TXSHN87ZZ57925</lei>
        <title>Tata Capital Ltd</title>
        <cusip>YS5587979</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.38900000</annualizedRt>
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        <name>FRANCE (GOVT OF)</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic Government Bond OAT</title>
        <cusip>BQ3977775</cusip>
        <identifiers>
          <isin value="FR0014004J31"/>
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        <balance>2560000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America, N.A.</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25LAXHM2KOM"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8872.89000000</valUSD>
        <pctVal>-0.00063070253</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <settlementDt>2026-01-08</settlementDt>
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        <name>Bank Gospodarstwa Krajowego</name>
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        <name>BANQUE OUEST AFRICAINE D</name>
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        <name>Australia and New Zealand Banking Group Limited</name>
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        <name>WEX Inc</name>
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        <name>Cushman &amp; Wakefield US Borrower LLC</name>
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        <name>Petronas Capital Ltd</name>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Paraguay Government International Bond</name>
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        <name>Momentive Performance Materials Inc</name>
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        <name>LIBERTY MUTUAL GROUP INC</name>
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        <name>Japan Government Forty Year Bond</name>
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        <name>Mexico Government International Bond</name>
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        <name>ZF Europe Finance BV</name>
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        <name>Bank of America, N.A.</name>
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        <name>Fannie Mae - CAS</name>
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        <name>China Government Bond</name>
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        <name>Bank of America, N.A.</name>
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        <name>Citibank N.A.</name>
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        <name>Wells Fargo Commercial Mortgage Trust 2025-AGLN</name>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.04165000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac STACR REMIC Trust 2023-DNA2</name>
        <lei>5493000IRI80KQJUNK40</lei>
        <title>Freddie Mac STACR REMIC Trust</title>
        <cusip>35564KT66</cusip>
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          <isin value="US35564KT664"/>
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        <balance>1670000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1739447.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.11516000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hong Kong Government International Bond</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government International Bond</title>
        <cusip>YN0521644</cusip>
        <identifiers>
          <isin value="HK0001151015"/>
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        <balance>1000000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>1190951.17000000</valUSD>
        <pctVal>0.084655159857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</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>
      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JNXHLZIGR"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-214491.95000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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            <amtCurSold>17927729.03000000</amtCurSold>
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            <settlementDt>2026-01-08</settlementDt>
            <unrealizedAppr>-214491.95000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ArcelorMittal SA</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ArcelorMittal S.A.</title>
        <cusip>YT8621195</cusip>
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          <isin value="XS2954181843"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>589808.40000000</valUSD>
        <pctVal>0.041924745232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN GOVERNMENT</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canadian Government International Bond</title>
        <cusip>135087XW9</cusip>
        <identifiers>
          <isin value="CA135087XW98"/>
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        <balance>1300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37255000"/>
        <valUSD>1080168.30000000</valUSD>
        <pctVal>0.076780494794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25KDXHM0WYU"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-23262.23000000</valUSD>
        <pctVal>-0.00165352522</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Australia and New Zealand Banking Group Limited</counterpartyName>
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            <settlementDt>2026-01-08</settlementDt>
            <unrealizedAppr>-23262.23000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albion Financing 1 SARL / Aggreko Holdings Inc</name>
        <lei>N/A</lei>
        <title>Albion Financing  SARL</title>
        <cusip>YO4261591</cusip>
        <identifiers>
          <isin value="XS3066681886"/>
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        <balance>600000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>726978.34000000</valUSD>
        <pctVal>0.051675055313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Funding LLC</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust</title>
        <cusip>68377GAB2</cusip>
        <identifiers>
          <isin value="US68377GAB23"/>
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        <balance>98160.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96497.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.96000000</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>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
        <cusip>AS4638860</cusip>
        <identifiers>
          <isin value="MYBMT1800039"/>
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        <balance>29175000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MYR" exchangeRt="4.05800000"/>
        <valUSD>7756206.18000000</valUSD>
        <pctVal>0.551326444435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.64200000</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>Province of Quebec Canada</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>Province of Quebec Canada</title>
        <cusip>74814ZEF6</cusip>
        <identifiers>
          <isin value="CA74814ZEF68"/>
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        <balance>3925000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37255000"/>
        <valUSD>3031047.68000000</valUSD>
        <pctVal>0.215452851761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ghana Government International Bond</name>
        <lei>213800PP4399SNNXZ126</lei>
        <title>Ghana Government International Bond</title>
        <cusip>374422AP8</cusip>
        <identifiers>
          <isin value="US374422AP83"/>
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        <balance>1884100.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1721326.18000000</valUSD>
        <pctVal>0.122355262419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>HYDRO-QUEBEC</name>
        <lei>6THEVG93PYJH84S4D167</lei>
        <title>Hydro-Quebec</title>
        <cusip>4488148V8</cusip>
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          <isin value="CA4488148V86"/>
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        <balance>1350000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.37255000"/>
        <valUSD>873774.73000000</valUSD>
        <pctVal>0.062109632460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Eagle Funding Luxco Sarl</name>
        <lei>894500VDP08MVIZ6OA60</lei>
        <title>Eagle Funding Luxco Sarl</title>
        <cusip>26951TAA8</cusip>
        <identifiers>
          <isin value="US26951TAA88"/>
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        <balance>2150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2189968.50000000</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>2030-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>
        <name>DEUTSCHE BANK AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG.</title>
        <cusip>BO0399549</cusip>
        <identifiers>
          <isin value="XS2303762475"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>1926966.02000000</valUSD>
        <pctVal>0.136972548137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>AUD260109</title>
        <cusip>AUD260109</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25JVXHLZZV8"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-50410.32000000</valUSD>
        <pctVal>-0.00358326504</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank N.A.</counterpartyName>
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            <amtCurSold>2967630.00000000</amtCurSold>
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            <amtCurPur>1930173.26000000</amtCurPur>
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            <settlementDt>2026-01-09</settlementDt>
            <unrealizedAppr>-50410.32000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Malaysia Government Bond</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bond</title>
        <cusip>YX0304643</cusip>
        <identifiers>
          <isin value="MYBMX2400021"/>
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        <balance>8975000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MYR" exchangeRt="4.05800000"/>
        <valUSD>2298846.26000000</valUSD>
        <pctVal>0.163406529612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.18000000</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>Colgate-Palmolive Co</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>Colgate-Palmolive Co</title>
        <cusip>194162AU7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Ireland Government Bond</name>
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        <name>Statkraft AS</name>
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          <isin value="XS2723597923"/>
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        <name>REPUBLIC OF CYPRUS</name>
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          <isin value="XS1956050923"/>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>CHINA GOVERNMENT BOND</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>United Kingdom Gilt</name>
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        <name>BHARTI AIRTEL LTD</name>
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        <title>Bharti Airtel Ltd</title>
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        <name>Spain Government Bond</name>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Engie SA</name>
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        <title>Engie S.A.</title>
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        <name>Toronto Dominion Bank</name>
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        <name>ORLEN SA</name>
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        <name>UNITED KINGDOM GILT</name>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Bradesco SA/Cayman Islands</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC WHOLESALE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Barclays Bank Plc Wholesale</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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      <invstOrSec>
        <name>BONOS Y OBLIG DEL ESTADO</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government International Bond</title>
        <cusip>BN5127343</cusip>
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          <isin value="ES0000012H41"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.10000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Banco Nacional de Comercio Exterior SNC/Cayman Islands</name>
        <lei>4469000001BL6VG3DH44</lei>
        <title>Banco Nacional de Comercio Exterior SNC</title>
        <cusip>05974TAA5</cusip>
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          <isin value="US05974TAA51"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1137070.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>BUNDESREPUB. DEUTSCHLAND</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland</title>
        <cusip>BV9824384</cusip>
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          <isin value="DE0001102598"/>
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        <balance>10725000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <pctVal>0.703460189024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>UBS AG/London</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>UBS AG.</title>
        <cusip>BO7978899</cusip>
        <identifiers>
          <isin value="XS2326546350"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO/THE</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>The Procter &amp; Gamble Company</title>
        <cusip>AV2317205</cusip>
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          <isin value="XS1900752905"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JFXHLZ1RI"/>
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        <curCd>USD</curCd>
        <valUSD>-361671.77000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Skandinaviska Enskilda Banken AB</name>
        <lei>F3JS33DEI6XQ4ZBPTN86</lei>
        <title>Skandinaviska Enskilda Banken AB</title>
        <cusip>YR1542921</cusip>
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          <isin value="XS2993969323"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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      <invstOrSec>
        <name>New Zealand Government Bond</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bond</title>
        <cusip>ZB1410586</cusip>
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          <isin value="NZGOVDT535C1"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Republic of Poland Government International Bond</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland Government International Bond</title>
        <cusip>ZF1455780</cusip>
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          <isin value="XS2746103014"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>BONOS Y OBLIG DEL ESTADO</name>
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        <title>Spain Government International Bond</title>
        <cusip>BJ9478998</cusip>
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          <isin value="ES0000012G42"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp</title>
        <cusip>26441CCD5</cusip>
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          <isin value="XS2800020112"/>
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        <balance>400000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNITED KINGDOM GILT</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>BM3107737</cusip>
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          <isin value="GB00BMGR2809"/>
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        <balance>450000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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          <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>BANK LEUMI LE-ISRAEL</name>
        <lei>7JDSZWRGUQY2DSTWCR57</lei>
        <title>Bank Leumi Le-Israel BM</title>
        <cusip>06326BAA7</cusip>
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          <isin value="IL0060404899"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299130.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.27500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Bank Leumi Le-Israel BM</name>
              <title>Bank Leumi Le-Israel BM 3.275 01/29/2031</title>
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                <isin value="IL0060404899"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="N/A" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>CHF260108</title>
        <cusip>CHF260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25JNXHLZHRX"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5388.74000000</valUSD>
        <pctVal>-0.00038304227</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
              <counterpartyLei>I7331LVCZKQKX5T7XV54</counterpartyLei>
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            <amtCurSold>759363.54000000</amtCurSold>
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            <amtCurPur>954119.45000000</amtCurPur>
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            <settlementDt>2026-01-08</settlementDt>
            <unrealizedAppr>-5388.74000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>Airbus SE</title>
        <cusip>LW0609567</cusip>
        <identifiers>
          <isin value="XS1410582313"/>
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        <balance>1600000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
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        <pctVal>0.122400870035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombian TES</title>
        <cusip>EK6999263</cusip>
        <identifiers>
          <isin value="COL17CT03342"/>
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        <balance>14960000000.00010000</balance>
        <units>PA</units>
        <currencyConditional curCd="COP" exchangeRt="3777.62000000"/>
        <valUSD>3244738.75000000</valUSD>
        <pctVal>0.230642434799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAKEDA PHARMACEUTICAL</name>
        <lei>549300ZLMVP4X0OGR454</lei>
        <title>Takeda Pharmaceutical Co Ltd</title>
        <cusip>874060BC9</cusip>
        <identifiers>
          <isin value="XS2197349645"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2581592.78000000</valUSD>
        <pctVal>0.183504710337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mexico Government International Bond</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexico Government International Bond</title>
        <cusip>YS9976863</cusip>
        <identifiers>
          <isin value="XS2991917613"/>
        </identifiers>
        <balance>1650000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>1958680.92000000</valUSD>
        <pctVal>0.139226905828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Government Bond</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>YP9308550</cusip>
        <identifiers>
          <isin value="CND1000967L8"/>
        </identifiers>
        <balance>149850000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CNY" exchangeRt="6.98815000"/>
        <valUSD>21325760.00000000</valUSD>
        <pctVal>1.515877113478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED KINGDOM GILT</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>AL0832686</cusip>
        <identifiers>
          <isin value="GB00BZB26Y51"/>
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        <balance>3895000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>3870318.13000000</valUSD>
        <pctVal>0.275109851894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale S.A.</title>
        <cusip>BN3325683</cusip>
        <identifiers>
          <isin value="FR0014001GA9"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>554414.56000000</valUSD>
        <pctVal>0.039408881225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CFE FIBRA E</name>
        <lei>N/A</lei>
        <title>CFE FIBRA E</title>
        <cusip>125276AA3</cusip>
        <identifiers>
          <isin value="US125276AA34"/>
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        <balance>991669.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>989753.47000000</valUSD>
        <pctVal>0.070353630218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pacific Life Global Funding II</name>
        <lei>6354003EUPCHXTWUU869</lei>
        <title>Pacific Life Global Funding II</title>
        <cusip>ZG3792220</cusip>
        <identifiers>
          <isin value="XS2729188644"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>1110196.38000000</valUSD>
        <pctVal>0.078914949990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NMEF Funding LLC</name>
        <lei>N/A</lei>
        <title>NMEF Funding LLC</title>
        <cusip>62919WAE9</cusip>
        <identifiers>
          <isin value="US62919WAE93"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006187.30000000</valUSD>
        <pctVal>0.071521779291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.47000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mexican Bonos</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexican Bonos</title>
        <cusip>P4R07X3Z7</cusip>
        <identifiers>
          <isin value="MX0MGO0001F1"/>
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        <balance>75040000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BX Trust 2025-OMG</name>
        <lei>N/A</lei>
        <title>BX Trust</title>
        <cusip>05619HAG9</cusip>
        <identifiers>
          <isin value="US05619HAG92"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000674.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.15100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>French Republic Government Bond OAT</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic Government Bond OAT</title>
        <cusip>ZH2111115</cusip>
        <identifiers>
          <isin value="FR001400L834"/>
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        <balance>6250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>AXA S.A.</title>
        <cusip>YX3884930</cusip>
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          <isin value="XS2834471463"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2347748.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>Chase Home Lending Mortgage Trust 2025-10</name>
        <lei>529900PXR6MEGSRAOO62</lei>
        <title>Chase Home Lending Mortgage Trust</title>
        <cusip>16160BCK1</cusip>
        <identifiers>
          <isin value="US16160BCK17"/>
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        <balance>2391843.26000000</balance>
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        <name>Morgan Stanley Capital Services</name>
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        <name>Australia Government Bond</name>
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        <title>Australia Government Bond</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Citibank N.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Swiss RE Subordinated Finance PLC</name>
        <lei>636700H29EH5Z8ZU8L04</lei>
        <title>Swiss RE Subordinated Finance plc</title>
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          <isin value="XS3025207807"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Pemex Project Funding Master Trust</title>
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          <isin value="US706451BG56"/>
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        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Bank of New York Mellon Corp/The</name>
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          <ticker value="BKFICC"/>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
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      <invstOrSec>
        <name>PROLOGIS INTL FUND II</name>
        <lei>213800JNRWW2C9DWI388</lei>
        <title>ProLogis International Funding II S.A.</title>
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          <isin value="XS1904690341"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
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        <name>Turk Telekomunikasyon AS</name>
        <lei>789000A2TXOI10JZLF90</lei>
        <title>Turk Telekomunikasyon AS.</title>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
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        <name>JAPAN (30 YEAR ISSUE)</name>
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        <title>Japan Government Thirty Year Bond</title>
        <cusip>BX7150259</cusip>
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          <isin value="JP1300751N79"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Banco de Credito Social Cooperativo SA</name>
        <lei>95980020140005881190</lei>
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          <isin value="XS3090080733"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa Government International Bond</title>
        <cusip>EJ7498649</cusip>
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          <isin value="ZAG000106972"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Engie SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>Engie S.A.</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PAREXEL International Corp</name>
        <lei>549300GCZVUYB6P2OA17</lei>
        <title>Parexel International Corporation, Repriced Term Loan B</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Open Text Corp</name>
        <lei>549300HP7ONDQODZJV16</lei>
        <title>Open Text Corporation, Term Loan B</title>
        <cusip>68371YAP8</cusip>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.46610000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Canadian Government Bond</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canadian Government Bond</title>
        <cusip>135087N26</cusip>
        <identifiers>
          <isin value="CA135087N266"/>
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        <balance>12225000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.37255000"/>
        <valUSD>8137678.96000000</valUSD>
        <pctVal>0.578442282586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Australia and New Zealand Banking Group Limited</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>GBP260108</title>
        <cusip>GBP260108</cusip>
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          <other otherDesc="BANK IDENTIFIER" value="25J4XHM0QZL"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15720.23000000</valUSD>
        <pctVal>-0.00111742497</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Australia and New Zealand Banking Group Limited</counterpartyName>
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            <amtCurSold>456578.52000000</amtCurSold>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Toronto Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>CAD260108</title>
        <cusip>CAD260108</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25JUXHLZWMJ"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-89894.03000000</valUSD>
        <pctVal>-0.00638984508</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Toronto Dominion Bank</counterpartyName>
              <counterpartyLei>PT3QB789TSUIDF371261</counterpartyLei>
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            <amtCurSold>7028157.95000000</amtCurSold>
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            <amtCurPur>5032539.24000000</amtCurPur>
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            <settlementDt>2026-01-08</settlementDt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>MXN260108</title>
        <cusip>MXN260108</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25KLXHM1H4O"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-36339.64000000</valUSD>
        <pctVal>-0.00258309333</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
              <counterpartyLei>I7331LVCZKQKX5T7XV54</counterpartyLei>
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            <amtCurSold>31187242.76000000</amtCurSold>
            <curSold>MXN</curSold>
            <amtCurPur>1694280.95000000</amtCurPur>
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            <settlementDt>2026-01-08</settlementDt>
            <unrealizedAppr>-36339.64000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Swiss Confederation Government Bond</name>
        <lei>5067006OA1BJ88912Q83</lei>
        <title>Swiss Confederation Government Bond</title>
        <cusip>EJ2364390</cusip>
        <identifiers>
          <isin value="CH0127181193"/>
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        <balance>1850000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CHF" exchangeRt="0.79210000"/>
        <valUSD>2557951.53000000</valUSD>
        <pctVal>0.181824243624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</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>Green Infrastructure Partners Inc</name>
        <lei>549300W1V7LSCKWMX505</lei>
        <title>Green Infrastructure Partners Inc, Term Loan B</title>
        <cusip>BL5231651</cusip>
        <identifiers>
          <ticker value="GEISTP"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501875.00000000</valUSD>
        <pctVal>0.035674265598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.42194000</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>Republic of Uzbekistan International Bond</name>
        <lei>213800L6VDKUM3TCM927</lei>
        <title>Republic of Uzbekistan International Bond</title>
        <cusip>91824PAB3</cusip>
        <identifiers>
          <isin value="US91824PAB31"/>
        </identifiers>
        <balance>7970000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="UZS" exchangeRt="12025.33000000"/>
        <valUSD>693584.95000000</valUSD>
        <pctVal>0.049301387240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UZ</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower, LP, Term Loan B</title>
        <cusip>58503UAH6</cusip>
        <identifiers>
          <isin value="US58503UAH68"/>
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        <balance>104576.70000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105004.94000000</valUSD>
        <pctVal>0.007463958393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.46610000</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>Verus Securitization Trust 2025-1</name>
        <lei>213800JOKZMXZECMAB50</lei>
        <title>Verus Securitization Trust</title>
        <cusip>92540TAD2</cusip>
        <identifiers>
          <isin value="US92540TAD28"/>
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        <balance>1215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1235331.20000000</valUSD>
        <pctVal>0.087809779986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.51200000</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>New Zealand Government Bond</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bond</title>
        <cusip>BK4327957</cusip>
        <identifiers>
          <isin value="NZGOVDT541C9"/>
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        <balance>7065000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NZD" exchangeRt="1.73686500"/>
        <valUSD>2681724.13000000</valUSD>
        <pctVal>0.190622244334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED KINGDOM GILT</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>BR1814184</cusip>
        <identifiers>
          <isin value="GB00BLPK7227"/>
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        <balance>1735000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>2121012.18000000</valUSD>
        <pctVal>0.150765732197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Toronto Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>JPY260202</title>
        <cusip>JPY260202</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25KTXHM20CE"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2710.58000000</valUSD>
        <pctVal>-0.00019267337</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Toronto Dominion Bank</counterpartyName>
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            <amtCurSold>788000000.00000000</amtCurSold>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>European Bank for Reconstruction &amp; Development</name>
        <lei>549300HTGDOVDU6OGK19</lei>
        <title>European Bank for Reconstruction &amp; Development</title>
        <cusip>BR9632133</cusip>
        <identifiers>
          <isin value="XS2400455163"/>
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        <balance>124700000.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="89.87940000"/>
        <valUSD>1386509.69000000</valUSD>
        <pctVal>0.098555845451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BELGIUM KINGDOM</name>
        <lei>549300SZ25JZFHRHWD76</lei>
        <title>Kingdom of Belgium Government Bond</title>
        <cusip>BH4726262</cusip>
        <identifiers>
          <isin value="BE0000351602"/>
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        <balance>2125000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2402519.52000000</valUSD>
        <pctVal>0.170775829562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SWEIHAN PV POWER CO PJSC</name>
        <lei>353800EF1E1IC18GBC48</lei>
        <title>Sweihan PV Power Co PJSC</title>
        <cusip>870674AA6</cusip>
        <identifiers>
          <isin value="US870674AA66"/>
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        <balance>274830.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236246.62000000</valUSD>
        <pctVal>0.016792876051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>EUR260108</title>
        <cusip>EUR260108</cusip>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
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        <name>CANADA HOUSING TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital Services</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CHUBB INA HOLDINGS INC</name>
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        <name>Citibank N.A.</name>
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        <name>China Government Bond</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
        <cusip>YT3047206</cusip>
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          <isin value="CND10008MC01"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CIP Commercial Mortgage Trust 2025-SBAY</name>
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          <isin value="US12576AAG13"/>
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        <name>Embraer Netherlands Finance BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Thunder Logistics 2024-1 DAC</name>
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        <name>HELLENIC REPUBLIC</name>
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          <isin value="GR0124037715"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="JP1201691K75"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>1011778 BC ULC</name>
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        <name>AUSTRALIAN GOVERNMENT</name>
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        <name>Iron Mountain Inc</name>
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        <name>ICBC STANDARD BANK PLC</name>
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        <name>ANGLOGOLD HOLDINGS PLC</name>
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        <invCountry>IM</invCountry>

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        <name>Egypt Treasury Bills</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Treasury Bills</title>
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        <invCountry>EG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>KOREA TREASURY BOND</name>
        <lei>549300O0QCVSQGPGDT58</lei>
        <title>Korea Treasury Bond</title>
        <cusip>AT7624253</cusip>
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          <isin value="KR103502G891"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Vmed O2 UK Financing I PLC</name>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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        <name>Cassia S.r.l.</name>
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        <name>Compass Datacenters Issuer III LLC</name>
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        <name>COTY INC</name>
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        <name>KFW</name>
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        <name>Barbados Government International Bond</name>
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        <name>FED REPUBLIC OF BRAZIL</name>
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        <name>Fiserv Funding ULC</name>
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        <name>Dominos Pizza Master Issuer LL</name>
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        <name>Citibank N.A.</name>
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        <name>Canadian Treasury Bill</name>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bimbo Bakeries USA Inc</name>
        <lei>549300HOXXHHT7926W92</lei>
        <title>Bimbo Bakeries USA, Inc</title>
        <cusip>09031WAC7</cusip>
        <identifiers>
          <isin value="US09031WAC73"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209095.55000000</valUSD>
        <pctVal>0.014862924405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</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>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>YR5943257</cusip>
        <identifiers>
          <isin value="XS3008633888"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74186700"/>
        <valUSD>682712.97000000</valUSD>
        <pctVal>0.048528585443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>Antofagasta PLC</name>
        <lei>213800MY6QVH4FVLD628</lei>
        <title>Antofagasta plc</title>
        <cusip>03718NAD8</cusip>
        <identifiers>
          <isin value="US03718NAD84"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1132450.00000000</valUSD>
        <pctVal>0.080496781224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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>Bank Gospodarstwa Krajowego</name>
        <lei>259400BCOV9JJIGLYF05</lei>
        <title>Bank Gospodarstwa Krajowego</title>
        <cusip>ZD4770776</cusip>
        <identifiers>
          <isin value="XS2778274410"/>
        </identifiers>
        <balance>2025000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85091900"/>
        <valUSD>2392691.62000000</valUSD>
        <pctVal>0.170077243032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>Morgan Stanley Capital Services</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>AUD260109</title>
        <cusip>AUD260109</cusip>
        <identifiers>
          <other otherDesc="BANK IDENTIFIER" value="25KLXHM1HG7"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-50160.84000000</valUSD>
        <pctVal>-0.00356553151</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Morgan Stanley Capital Services</counterpartyName>
              <counterpartyLei>I7331LVCZKQKX5T7XV54</counterpartyLei>
            </counterparties>
            <amtCurSold>3817581.25000000</amtCurSold>
            <curSold>AUD</curSold>
            <amtCurPur>2497676.58000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-01-09</settlementDt>
            <unrealizedAppr>-50160.84000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Queensland Treasury Corp</name>
        <lei>98INKCEEHOU5YJS0HQ88</lei>
        <title>Queensland Treasury Corp</title>
        <cusip>BG2284225</cusip>
        <identifiers>
          <isin value="AU0000079402"/>
        </identifiers>
        <balance>2400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.49846400"/>
        <valUSD>1217182.39000000</valUSD>
        <pctVal>0.086519726749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</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>Bank Mandiri Persero Tbk PT</name>
        <lei>549300RSKQN4Z5ZSGH94</lei>
        <title>Bank Mandiri Persero Tbk PT</title>
        <cusip>YQ4311813</cusip>
        <identifiers>
          <isin value="XS3011307678"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202386.80000000</valUSD>
        <pctVal>0.014386053214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-12-31</ncom:dateSigned>
      <ncom:nameOfApplicant>TIAA-CREF Funds</ncom:nameOfApplicant>
      <ncom:signature>Gina Spunder</ncom:signature>
      <ncom:signerName>Gina Spunder</ncom:signerName>
      <ncom:title>Director, Fund Financial Reporting</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
