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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Carnival Corporation</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>GFL Environmental Holdings (US) Inc.</name>
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        <name>United States Treasury Bonds</name>
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          <couponKind>Fixed</couponKind>
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        <name>United States Treasury Notes</name>
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        <name>BANK5 2023-5YR4</name>
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        <name>Newell Brands Inc.</name>
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        <name>Pret 2025-NPL7 LLC</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <name>TALLGRASS ENERGY PARTNERS LP</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>Bank of America, National Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <assetCat>DCR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <derivAddlInfo>
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      <invstOrSec>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <title>CDS REPUBLIC OF INDONESIA</title>
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        <identifiers>
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        <balance>1.00000000</balance>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>Germany (Federal Republic Of)</issuerName>
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            <expDate>2026-03-06</expDate>
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      <invstOrSec>
        <name>ASX 24</name>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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                <issuerName>Australia (Commonwealth of)</issuerName>
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            <expDate>2026-03-16</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <balance>-2006000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Put</putOrCall>
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                  <derivAddlInfo>
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                    <identifiers>
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                    <currencyConditional curCd="COP" exchangeRt="0.00000000"/>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <amtCurSold>N/A</amtCurSold>
                  <curSold>COP</curSold>
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                  <curPur>USD</curPur>
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            <principalAmt>-2006000.00000000</principalAmt>
            <curCd>USD</curCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>799.48000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="US465410CA47"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <upfrontPmnt>4748.54000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
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            <rcptCurCd>USD</rcptCurCd>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <pmntCurCd>USD</pmntCurCd>
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            <rcptCurCd>USD</rcptCurCd>
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        <name>STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC</name>
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        <payoffProfile>N/A</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HSBC SECURITIES (USA) INC.</name>
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        <derivativeInfo>
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                  <amtCurSold>N/A</amtCurSold>
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            <principalAmt>-2984000.00000000</principalAmt>
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            <delta>XXXX</delta>
            <unrealizedAppr>23959.91000000</unrealizedAppr>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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          <other otherDesc="INTERNAL" value="MDJ2512050570970"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
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        <balance>1.00000000</balance>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS PACIFIC LIFE GLOBAL FUNDING II</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>GOLDMAN SACHS &amp; CO. LLC</counterpartyName>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>-1.35000000</upfrontRcpt>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>INR CALL VERSUS USD PUT</title>
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        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8AF47909"/>
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        <balance>1993000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>CITIBANK, NATIONAL ASSOCIATION</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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                    <name>CITIBANK, NATIONAL ASSOCIATION</name>
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                    <identifiers>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="INR" exchangeRt="0.00000000"/>
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                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <amtCurSold>N/A</amtCurSold>
                  <curSold>INR</curSold>
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            <principalAmt>1993000.00000000</principalAmt>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>0.00000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2602021105897"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>BARCLAYS PLC</counterpartyName>
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            <amtCurSold>-29655630.00000000</amtCurSold>
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            <curPur>USD</curPur>
            <settlementDt>2026-03-18</settlementDt>
            <unrealizedAppr>1744.55000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>CDS BARCLAYS PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AF3TNZ9"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84631008"/>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                <issuerName>Barclays PLC</issuerName>
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                  <isin value="US06738ECJ29"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS UNITEDHEALTH GROUP INC</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2633.58000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>UnitedHealth Group Inc.</issuerName>
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            <swapFlag>Y</swapFlag>
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            <rcptCurCd>USD</rcptCurCd>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>COP CALL VERSUS USD PUT</title>
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        <identifiers>
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        <balance>2006000.00000000</balance>
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        <derivativeInfo>
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            <descRefInstrmnt>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <title>CDS BARCLAYS PLC</title>
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        <isRestrictedSec>N</isRestrictedSec>

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            <curCd>USD</curCd>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
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        <cusip>000000000</cusip>
        <identifiers>
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        <balance>1994000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>42.60000000</valUSD>
        <pctVal>0.000003210282</pctVal>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Bank of America, National Association</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <delta>XXXX</delta>
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      <invstOrSec>
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        <assetCat>DCR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                <issuerName>HELLENIC REPUBLIC GOVERNMENT BOND</issuerName>
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                  <isin value="GR0118019679"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <identifiers>
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        <balance>-2953000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-18790.16000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <derivAddlInfo>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <curSold>TRY</curSold>
                  <amtCurPur>N/A</amtCurPur>
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            <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <identifiers>
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        <balance>13025000.00000000</balance>
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        <derivativeInfo>
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                  <derivAddlInfo>
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                    <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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                  <isin value="SK4120012220"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>INR CALL VERSUS USD PUT</title>
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        <identifiers>
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        <balance>-1989000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <derivativeInfo>
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                  <derivAddlInfo>
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                    <lei>E57ODZWZ7FF32TWEFA76</lei>
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            <principalAmt>-1989000.00000000</principalAmt>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC</name>
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        <identifiers>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <curCd>USD</curCd>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <assetCat>DCR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <isin value="XS2325733413"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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        <securityLending>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <assetCat>DCR</assetCat>
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        <fairValLevel>2</fairValLevel>
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                  <isin value="USY6826RAA06"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>Brazil (Federative Republic)</issuerName>
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                  <cusip value="105756CE8"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <balance>1.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>Medline Borrower LP</issuerName>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>-90910.53000000</upfrontRcpt>
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            <unrealizedAppr>-54814.85000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <balance>38655000.00000000</balance>
        <units>OU</units>
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        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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                  <derivAddlInfo>
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                    <curCd>USD</curCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-466.09000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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              <counterpartyName>GOLDMAN SACHS &amp; CO. LLC</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>Alphabet Inc.</issuerName>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <title>CDS BANK OF MONTREAL</title>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3955.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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            <descRefInstrmnt>
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            <swapFlag>Y</swapFlag>
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            <rcptCurCd>USD</rcptCurCd>
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            <unrealizedAppr>3955.00000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-23175.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
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                <issuerName>LINCOLN NATIONAL CORP</issuerName>
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                  <isin value="US534187BK40"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <rcptCurCd>USD</rcptCurCd>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8AF3ZX68"/>
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        <balance>1689000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84631008"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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                  <derivAddlInfo>
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                    <invOthCountry>US</invOthCountry>
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                  <curSold>EUR</curSold>
                  <amtCurPur>N/A</amtCurPur>
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            <delta>XXXX</delta>
            <unrealizedAppr>0.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <identifiers>
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        <balance>2004000.00000000</balance>
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        <derivativeInfo>
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            <descRefInstrmnt>
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                  <derivAddlInfo>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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            <descRefInstrmnt>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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        <name>Bank of America, National Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS CAPITAL INC.</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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            <principalAmt>2984000.00000000</principalAmt>
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            <delta>XXXX</delta>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <derivAddlInfo>
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                    <invOthCountry>US</invOthCountry>
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                  <amtCurSold>N/A</amtCurSold>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                  <derivAddlInfo>
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                  <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="THE SECURED OVERNIGHT FINANCING RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <derivativeInfo>
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      <invstOrSec>
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            <principalAmt>6513000.00000000</principalAmt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>Barclays PLC</issuerName>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <balance>1.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>Nomura Holdings Inc.</issuerName>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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        <securityLending>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <isRestrictedSec>N</isRestrictedSec>

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                    <invOthCountry>US</invOthCountry>
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            <expDt>2026-03-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>0.28000000</unrealizedAppr>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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                    <invOthCountry>US</invOthCountry>
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                  <amtCurSold>N/A</amtCurSold>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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            <delta>XXXX</delta>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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                  <derivAddlInfo>
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                  <curSold>USD</curSold>
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            <principalAmt>-1989000.00000000</principalAmt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-9494.28000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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                  <isin value="US26885BAL45"/>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
        <name>Bank of America, National Association</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>Laurel Road Prime Student Ln Trust 2019-A</name>
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        <name>Bellis Acquisition Co PLC</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <name>Government National Mortgage Association</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Government National Mortgage Association</name>
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        <name>Root Bidco Sarl</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Company LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Lamb Weston Holdings Inc</name>
        <lei>5493005SMYID1D2OY946</lei>
        <title>LW 4.375 01/31/32 144A</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MTG PASS THRU CTF CL E 144A</name>
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        <title>MHC 2021-MHC F</title>
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          <isin value="US55316VAL80"/>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Organon &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>TFS_18-3-A1</name>
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        <name>Government National Mortgage Association</name>
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        <name>RCO VIII Mortgage LLC 2025-3</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Clue Opco LLC</name>
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        <name>PGIM ETF Trust</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>AMERICAN AIRLINES INC</name>
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        <name>Legacy Mortgage Asset Trust 2025-PR1</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <name>Capstone Copper Corp</name>
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        <name>United States Treasury Notes</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Phinia Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>20 Times Sq Tr 2018</name>
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        <name>Light Servicos de Eletricidade SA</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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          <isin value="US1248EPCB75"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FORD CR AUTO OWNER TR 2023-REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aesir European Loan Conduit No. 41 DAC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOWD PT MTG TR 2025-CES1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL PLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>HSBC Holdings PLC</name>
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        <name>Braskem Netherlands Finance B V</name>
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        <name>SM ENERGY COMPANY</name>
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        <title>SM 8.625 11/01/30 144A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bilbao Clo IV Designated Activity Company</name>
        <lei>549300PSOBYVOTLZRS47</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Bank of America Corp.</name>
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      <invstOrSec>
        <name>Doncasters US Finance LLC</name>
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        <name>Midwest Gaming Borrower LLC</name>
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        <name>MGM Resorts International</name>
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        <name>ALBERTSONS COMPANIES INC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <title>S 0 11/15/43</title>
        <cusip>912834MZ8</cusip>
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          <isin value="US912834MZ86"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <title>S 0 11/15/41</title>
        <cusip>912834KV9</cusip>
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          <isin value="US912834KV90"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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          <couponKind>None</couponKind>
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        <name>BX COMMERCIAL MORTGAGE TRUST 2026-CSMO</name>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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        <name>Jacobs Entertainment, Inc.</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Graphic Packaging International LLC</name>
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          <couponKind>Fixed</couponKind>
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        <name>Vistra Corp</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Orbia Advance Corp S A B De Cv</name>
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        <name>Whirlpool Corp.</name>
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        <name>New Gold, Inc.</name>
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        <name>HCA Inc.</name>
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        <name>Mylan Inc</name>
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        <name>United States Treasury Bonds</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Government National Mortgage Association</name>
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        <name>Qnity Electronics Inc.</name>
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        <name>Vistra Corp</name>
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        <name>OneMain Financial Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenneco Inc</name>
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        <assetCat>LON</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Bank of America Corp.</name>
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        <name>SBA Communications Corp.</name>
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        <name>Herc Holdings Inc</name>
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        <name>Government National Mortgage Association</name>
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        <name>Trinidad And Tobago (Republic Of)</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Rivers Enterprise Borrower LLC / Rivs Enterprise Fin Corp.</name>
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        <name>Carnival Corporation</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRUDENTIAL INVESTMENT PORTFOLIOS 9</name>
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        <title>Prudential Investment Portfolios 2 PGIM INSTL MONEY</title>
        <cusip>74440E300</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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          <isin value="US31418EM236"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CLARIOS GLOBAL LP</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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        <name>PETROLEOS MEXICANOS SA DE CV</name>
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        <title>PEMEX 6.625 06/15/38</title>
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        <balance>63000.00000000</balance>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-06-15</maturityDt>
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        <name>Yamana Gold Inc</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BROOKFIELD RESIDENTIAL PROPERTIES ULC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury Bonds</name>
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        <name>Pacific Gas and Electric Company</name>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>Commercial Metals Company</name>
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        <name>Southwest Airlines Co.</name>
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        <name>MPT OPERATING PARTNERSHIP LP</name>
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        <title>MPW 5 10/15/27</title>
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        <name>Nassau Euro Clo II Designated Activity Company</name>
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        <name>Government National Mortgage Association</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>Metronet Infrastructure Issuer LLC.</name>
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        <name>Ecopetrol S.A.</name>
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        <name>State Street Bank and Trust Company</name>
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        <name>Pilgrims Pride Corporation</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS Corporation</name>
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        <name>ALLY BANK</name>
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        <name>ClubCorp Holdings Inc</name>
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        <name>SM ENERGY COMPANY</name>
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        <name>LHOME MORTGAGE TRUST</name>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>COMM 2024-277P MORTGAGE TRUST</name>
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        <name>BX Trust 2018-Bilt</name>
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        <name>TALLGRASS ENERGY PARTNERS LP</name>
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        <name>Hudson Yards 2025-Sprl Mortgage Trust</name>
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        <name>Ashton Woods (USA) LLC/Ashton Woods Finance Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
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        <title>G2 MA8350</title>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OAKTOWN RE 2021-7 LTD</name>
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        <title>OMIR 2021-2 M1B</title>
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        <name>Brixmor Operating Partnership LP</name>
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        <title>BRX 4.05 07/01/30</title>
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        <name>Clydesdale Acquisition Holdings Inc.</name>
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        <name>Colombia (Republic Of)</name>
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        <name>Metronet Infrastructure Issuer LLC.</name>
        <lei>5493000BIROCAEATAQ61</lei>
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        <name>Connect Holding II LLC</name>
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        <title>BSPEED 10.5 04/03/31 144A</title>
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        <name>Crescent Energy Finance LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
        <title>CRGYFN 8.375 01/15/34 144A</title>
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        <invCountry>US</invCountry>
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        <name>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>CLF 6.875 11/01/29 144A</title>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>HCA Inc.</name>
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        <name>COMM 2024-277P MORTGAGE TRUST</name>
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        <name>Zegona Holdco Limited</name>
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        <name>Government National Mortgage Association</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>Adtalem Global Education Inc</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>ClubCorp Holdings Inc</name>
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        <fairValLevel>3</fairValLevel>
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        <name>ANTERO MIDSTREAM PARTNERS LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOHL Capital Ltd.</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Covista Inc.</name>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Frontier Communications Holdings Llc</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>M/I Homes Inc.</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>MHO 4.95 02/01/28</title>
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        <name>Federal National Mortgage Association</name>
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        <name>Eskom Holdings SOC Limited</name>
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        <name>Bausch Health Companies Inc.</name>
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        <name>Regatta Xii Funding Ltd/Llc 2019-12</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>Ecuador (Republic Of)</name>
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        <name>VTB Capital S.A.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <assetCat>LON</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mexico City Airport Trust</name>
        <lei>N/A</lei>
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        <cusip>59284MAB0</cusip>
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          <isin value="US59284MAB00"/>
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        <balance>938000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Power Finance Corp Ltd.</name>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>816040.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Argentina (Republic Of)</name>
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          <isin value="XS2177363665"/>
          <other otherDesc="SEDOL" value="BMFXV04"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U.S. Treasury Security Stripped Interest Security</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>S 0 08/15/40</title>
        <cusip>912834JB5</cusip>
        <identifiers>
          <isin value="US912834JB55"/>
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        <balance>11065000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5740360.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eskom Holdings SOC Limited</name>
        <lei>3789001900ED06F65111</lei>
        <title>ESKOM 6.35 08/10/28 144a</title>
        <cusip>29646AAC0</cusip>
        <identifiers>
          <isin value="US29646AAC09"/>
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        <balance>2485000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2564221.80000000</valUSD>
        <pctVal>0.193236518981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kontoor Brands Inc</name>
        <lei>549300M0CPXV65RFF271</lei>
        <title>KTB 4.125 11/15/29 144A</title>
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          <isin value="US50050NAA19"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1190925.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSC Holdings, LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSCHLD 4.625 12/01/30 144a</title>
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          <isin value="US126307BD80"/>
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        <balance>475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175778.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U.S. Treasury Security Stripped Interest Security</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>S 0 08/15/46</title>
        <cusip>912834QP6</cusip>
        <identifiers>
          <isin value="US912834QP68"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85499.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Brazil Minas SPE</name>
        <lei>N/A</lei>
        <title>MINASG 5.333 02/15/28 REGS</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
        <valUSD>609151.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.33300000</annualizedRt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust 2020-C6</name>
        <lei>N/A</lei>
        <title>BBCMS 2019-C4 XB</title>
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        <balance>43170000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <title>CDS WELLS FARGO &amp; COMPANY</title>
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        <name>HOWARD HUGHES CORP (THE)</name>
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        <name>ASURION LLC</name>
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        <title>ASUCOR 8 12/31/32 144A</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD8183</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mizrahi Tefahot Bank Limited</name>
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          <maturityDt>2030-07-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.75000000</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>Agile Group Holdings Ltd.</name>
        <lei>549300ZRISRT38EEYY07</lei>
        <title>AGILE 6.05 10/13/25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2243343204"/>
          <other otherDesc="SEDOL" value="BLBLMH9"/>
        </identifiers>
        <balance>2085000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85902.00000000</valUSD>
        <pctVal>0.006473466317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

      <explntrNote note="Securities Lending: The Fund lends its portfolio securities to banks and broker-dealers. The Fund has adopted a policy that requires any loan to be secured by collateral in excess of the market value of the securities loaned. Collateral pledged by each borrower is invested in an affiliated money market fund and is marked to market daily, based on the previous days market value. Due to timing differences between market value changes and collateral posting, reported values on this Form may show collateral amounts that are lower than the market value of the securities on loan. However, the Fund remains properly collateralized per its policy." noteItem="C.12.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-23</ncom:dateSigned>
      <ncom:nameOfApplicant>Prudential Investment Portfolios 3</ncom:nameOfApplicant>
      <ncom:signature>Christian J. Kelly</ncom:signature>
      <ncom:signerName>Christian J. Kelly</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
