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      <invstOrSec>
        <name>St Pauls CLO</name>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
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        <title>Morgan Stanley</title>
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      <invstOrSec>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
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        <title>Freddie Mac Multifamily Structured Pass Through Certificates</title>
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      <invstOrSec>
        <name>Bank of America, National Association</name>
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        <assetCat>DFE</assetCat>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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      <invstOrSec>
        <name>REPUBLIC OF SERBIA</name>
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        <invCountry>RS</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XJ6F5</cusip>
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        <balance>3911051.81000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMN HEALTHCARE INC</name>
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        <title>AMN Healthcare Inc</title>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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            <putOrCall>Put</putOrCall>
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            <principalAmt>-13750000.00000000</principalAmt>
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      <invstOrSec>
        <name>VIRGIN MEDIA SECURED FIN</name>
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        <title>Virgin Media Secured Finance PLC</title>
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          <isin value="XS1996438948"/>
          <other otherDesc="SEDOL" value="BJCX1Z1"/>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STRIP PRINC</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Strip Principal</title>
        <cusip>912803EK5</cusip>
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          <isin value="US912803EK56"/>
          <other otherDesc="SEDOL" value="BD03YJ6"/>
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        <balance>1145000.00000000</balance>
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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>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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          <other otherDesc="INTERNAL" value="FXB8AD80FV0"/>
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        <balance>1703000.00000000</balance>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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      <invstOrSec>
        <name>FREEDOM MORTGAGE CORP</name>
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        <title>Freedom Mortgage Corp</title>
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      <invstOrSec>
        <name>TPC GROUP INC</name>
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      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
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        <title>Petroleos Mexicanos</title>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS FEDERAL REPUBLIC OF NIGERIA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AD5YB92"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>352364.74000000</valUSD>
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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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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>REPUBLIC OF NIGERIA</issuerName>
                <issueTitle>Nigeria Government International Bond</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="XS2384698994"/>
                  <other otherDesc="SEDOL" value="BP6QFK1"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-2000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>350237.30000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW GENERATION GAS - UNFUNDED</name>
        <lei>N/A</lei>
        <title>NEW GENERATION GAS - UNFUNDED</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="B8AD38TW1"/>
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        <balance>401351.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395330.74000000</valUSD>
        <pctVal>0.034840236390</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.01000000</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>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>36179XDD5</cusip>
        <identifiers>
          <isin value="US36179XDD57"/>
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        <balance>497171.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467661.39000000</valUSD>
        <pctVal>0.041214688689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38379WM25</cusip>
        <identifiers>
          <isin value="US38379WM250"/>
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        <balance>2886434.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2546399.76000000</valUSD>
        <pctVal>0.224412525025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC SECURITIES (USA) INC.</name>
        <lei>CYYGQCGNHMHPSMRL3R97</lei>
        <title>USD/SGD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2411180526541"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7299.58000000</valUSD>
        <pctVal>-0.00064330715</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>HSBC SECURITIES (USA) INC.</counterpartyName>
              <counterpartyLei>CYYGQCGNHMHPSMRL3R97</counterpartyLei>
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            <amtCurSold>-3330992.92000000</amtCurSold>
            <curSold>SGD</curSold>
            <amtCurPur>2482000.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2024-12-18</settlementDt>
            <unrealizedAppr>-7299.58000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NCL CORPORATION LTD</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL Corp Ltd</title>
        <cusip>62886HBA8</cusip>
        <identifiers>
          <isin value="US62886HBA86"/>
          <other otherDesc="SEDOL" value="BMB5SR0"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348971.00000000</valUSD>
        <pctVal>0.030754583196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS FEDERATIVE REPUBLIC OF BRAZIL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AD5YBC5"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>234650.07000000</valUSD>
        <pctVal>0.020679555320</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS &amp; CO. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FED REPUBLIC OF BRAZIL</issuerName>
                <issueTitle>Brazilian Government International Bond</issueTitle>
                <identifiers>
                  <cusip value="105756CE8"/>
                  <isin value="US105756CE88"/>
                  <other otherDesc="SEDOL" value="BMD7M49"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <terminationDt>2029-12-20</terminationDt>
            <upfrontPmnt>9573.48000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-9000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>225076.59000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
        <cusip>517834AF4</cusip>
        <identifiers>
          <isin value="US517834AF40"/>
          <other otherDesc="SEDOL" value="BKPHQ07"/>
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        <balance>255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239121.23000000</valUSD>
        <pctVal>0.021073595691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</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>NATIONSTAR MTG HLD INC</name>
        <lei>N/A</lei>
        <title>Nationstar Mortgage Holdings Inc</title>
        <cusip>63861CAA7</cusip>
        <identifiers>
          <isin value="US63861CAA71"/>
          <other otherDesc="SEDOL" value="BKLPS65"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>799805.10000000</valUSD>
        <pctVal>0.070486293958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS CLEVELAND-CLIFFS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8ACMF767"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-102949.91000000</valUSD>
        <pctVal>-0.00907290741</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CLEVELAND-CLIFFS INC</issuerName>
                <issueTitle>Cleveland-Cliffs Inc</issueTitle>
                <identifiers>
                  <cusip value="185899AH4"/>
                  <isin value="US185899AH46"/>
                  <other otherDesc="SEDOL" value="BMF04M8"/>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
            <terminationDt>2029-06-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
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            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>7433.05000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ANHEUSER-BUSCH CO/INBEV</name>
        <lei>N/A</lei>
        <title>Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc</title>
        <cusip>03522AAJ9</cusip>
        <identifiers>
          <isin value="US03522AAJ97"/>
          <other otherDesc="SEDOL" value="BJXS2M9"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1428686.40000000</valUSD>
        <pctVal>0.125909186581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</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>Terrier Media Buyer Inc</name>
        <lei>N/A</lei>
        <title>CMG MEDIA CORP</title>
        <cusip>88145LAF1</cusip>
        <identifiers>
          <isin value="US88145LAF13"/>
          <other otherDesc="INTERNAL" value="BL4804573"/>
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        <balance>106154.64000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93548.78000000</valUSD>
        <pctVal>0.008244392048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.07106000</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>VIRGIN MEDIA SECURED FIN</name>
        <lei>213800X3RLP4NOTPY579</lei>
        <title>Virgin Media Secured Finance PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2062666602"/>
          <other otherDesc="SEDOL" value="BKLXG54"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78588549"/>
        <valUSD>2871665.16000000</valUSD>
        <pctVal>0.253077949387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS GENWORTH HOLDINGS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8ACMF734"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-159701.74000000</valUSD>
        <pctVal>-0.01407440861</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GENWORTH HOLDINGS INC</issuerName>
                <issueTitle>Genworth Holdings Inc</issueTitle>
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                  <cusip value="37247DAB2"/>
                  <isin value="US37247DAB29"/>
                  <other otherDesc="SEDOL" value="B01LWC7"/>
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      <invstOrSec>
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        <name>Santander Consumer Auto Receiv</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LEVEL 3 FINANCING INC</name>
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      <invstOrSec>
        <name>CMG MEDIA CORPORATION</name>
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      <invstOrSec>
        <name>ATLAS LUXCO 4 / ALL UNI</name>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <title>United States Treasury Strip Coupon</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CRESCENT ENERGY FINANCE</name>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <ticker value="FVH5"/>
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        <fairValLevel>1</fairValLevel>
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        <name>PGIM Institutional Money Market Fund - D</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>STRIPS</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Strip Coupon</title>
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          <isin value="US912834DU90"/>
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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>
        <debtSec>
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          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>St Pauls CLO</name>
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        <title>St Paul's CLO IV DAC</title>
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          <isin value="XS2400757923"/>
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        <balance>9200000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARNIVAL HLDGS BM LTD</name>
        <lei>N/A</lei>
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          <isin value="US14366RAA77"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VICI PROPERTIES / NOTE</name>
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          <isin value="US92564RAG02"/>
          <other otherDesc="SEDOL" value="BMH6ZL0"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>438168.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ABBVIE INC</name>
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        <title>AbbVie Inc</title>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>Lugo Funding DAC</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <title>IRS USD</title>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>Fannie Mae</name>
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        <name>Government National Mortgage A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
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          <isin value="US91282CHT18"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WYNN MACAU LTD</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
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          <isin value="US98313RAG11"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Codere Group Topco S.A. A2 Equity</name>
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          <other otherDesc="INTERNAL" value="B8AD2HEJ7"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>NRG ENERGY INC</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <ticker value="TUH5"/>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>BAUSCH HEALTH COS INC</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>-17242.78000000</upfrontRcpt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140J5VG1</cusip>
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          <isin value="US3140J5VG17"/>
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        <balance>570440.47000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERIGAS PART/FIN CORP</name>
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          <isin value="US030981AL88"/>
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        <balance>295000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <descOthUnits>Other</descOthUnits>
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        <assetCat>DCR</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>INTERCONTINENTAL EXCHANGE, INC.</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                    <counterpartyName>CITIBANK, NATIONAL ASSOCIATION</counterpartyName>
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                  <derivAddlInfo>
                    <name>CITIBANK, NATIONAL ASSOCIATION</name>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
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                    <assetCat>DCR</assetCat>
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                    <otherRefInst>
                      <issuerName>IHS MARKIT LTD</issuerName>
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                        <cusip value="000000000"/>
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                  </descRefInstrmnt>
                  <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="75.00000000"/>
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                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>N/A</curCd>
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            <principalAmt>-30150000.00000000</principalAmt>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>20103.65000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BP CAPITAL MARKETS PLC</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP Capital Markets PLC</title>
        <cusip>05565QDU9</cusip>
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          <isin value="US05565QDU94"/>
          <other otherDesc="SEDOL" value="BL5DJC5"/>
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        <balance>638000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>631620.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF INDONESIA</name>
        <lei>529900FWX0GRR7WG5W79</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2280331898"/>
          <other otherDesc="SEDOL" value="BNBSBC2"/>
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        <balance>615000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94629761"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.10000000</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>UK CLEARING HOUSE LIMITED</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWB8ACYEX43"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-31479.84000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>UK CLEARING HOUSE LIMITED</counterpartyName>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="4.39500000"/>
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            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>21390000.00000000</notionalAmt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XF7L9</cusip>
        <identifiers>
          <isin value="US3140XF7L97"/>
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        <balance>5355567.17000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4703999.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC</name>
        <lei>5493003GCX71N8988W38</lei>
        <title>USD/PHP FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2409230562919"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>151383.48000000</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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            <amtCurSold>-186062745.20000000</amtCurSold>
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            <amtCurPur>3323000.00000000</amtCurPur>
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      </invstOrSec>
      <invstOrSec>
        <name>DAVITA INC</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita Inc</title>
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          <isin value="US23918KAS78"/>
          <other otherDesc="SEDOL" value="BMW7NB4"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TENET HEALTHCARE CORP</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp</title>
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        <balance>825000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <balance>5155000.00000000</balance>
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        <descOthUnits>Other</descOthUnits>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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            </descRefInstrmnt>
            <principalAmt>5155000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>3.90800000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-02-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>20248.39000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>MXN CALL VERSUS USD PUT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8AD8SLT7"/>
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        <balance>-850000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4685.25000000</valUSD>
        <pctVal>-0.00041290798</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>DEUTSCHE BANK AKTIENGESELLSCHAFT</counterpartyName>
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      <invstOrSec>
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      <invstOrSec>
        <name>BEAZER HOMES USA</name>
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        <title>Beazer Homes USA Inc</title>
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        <curCd>USD</curCd>
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        <title>CCM Merger Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AUTONATION INC</name>
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        <title>AutoNation Inc</title>
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        <balance>1880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1847144.35000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORP.</name>
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      <invstOrSec>
        <name>BOF URSA FUNDING</name>
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        <name>Freddie Mac - STACR</name>
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        <title>Freddie Mac STACR REMIC Trust 2022-DNA1</title>
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        <name>JACOBS ENTERTAINMENT INC</name>
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        <title>Jacobs Entertainment Inc</title>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <title>SWOP IRS USD</title>
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        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <swapDeriv derivCat="SWP">
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                  <derivAddlInfo>
                    <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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                    <title>IRS USD</title>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
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                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
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                  <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
                  <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="2Y CMS RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
                    <rtResetTenors>
                      <rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
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                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>USD</curCd>
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            </descRefInstrmnt>
            <principalAmt>-15910000.00000000</principalAmt>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>3498.81000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DWAW3</cusip>
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          <isin value="US3132DWAW38"/>
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        <balance>539989.94000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912810SE9</cusip>
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          <isin value="US912810SE91"/>
          <other otherDesc="SEDOL" value="BGRW851"/>
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        <balance>3825000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</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>BELLIS FINCO PLC</name>
        <lei>259400ELWH6Z4ICFTD70</lei>
        <title>Bellis Finco PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2303072966"/>
          <other otherDesc="SEDOL" value="BMVMF92"/>
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        <balance>3500000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.78588549"/>
        <valUSD>4185024.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>
      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>36179WVX3</cusip>
        <identifiers>
          <isin value="US36179WVX37"/>
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        <balance>705912.36000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>665760.97000000</valUSD>
        <pctVal>0.058673073524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>USD CALL VERSUS CNH PUT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8ACGBCD2"/>
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        <balance>3049000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>11453.53000000</valUSD>
        <pctVal>0.001009392016</pctVal>
        <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>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
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                  <derivAddlInfo>
                    <name>MORGAN STANLEY &amp; CO. LLC</name>
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                    <cusip>000000000</cusip>
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                      <other otherDesc="INTERNAL" value="PI61890_FXB8ACGBCD2_MSLNG_B"/>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="CNY" exchangeRt="0.00000000"/>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
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                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <amtCurSold>N/A</amtCurSold>
                  <curSold>USD</curSold>
                  <amtCurPur>N/A</amtCurPur>
                  <curPur>CNY</curPur>
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            <principalAmt>3049000.00000000</principalAmt>
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            <exercisePrice>7.25000000</exercisePrice>
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            <expDt>2024-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-32452.07000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VENTURE GLOBAL LNG INC</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG Inc</title>
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          <isin value="US92332YAF88"/>
          <other otherDesc="SEDOL" value="BRSF3L7"/>
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        <balance>605000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418EDE7</cusip>
        <identifiers>
          <isin value="US31418EDE77"/>
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        <balance>5750811.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5218658.63000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LEVEL 3 FINANCING INC</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing Inc</title>
        <cusip>527298BX0</cusip>
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          <isin value="US527298BX03"/>
          <other otherDesc="SEDOL" value="BS3F0Q3"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196154.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROOKFIELD RESID PROPERT</name>
        <lei>N/A</lei>
        <title>Brookfield Residential Properties Inc / Brookfield Residential US LLC</title>
        <cusip>11283YAG5</cusip>
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          <isin value="US11283YAG52"/>
          <other otherDesc="SEDOL" value="BMCXW59"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1134000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIVERSIFIED HEALTHCARE T</name>
        <lei>N/A</lei>
        <title>Diversified Healthcare Trust</title>
        <cusip>25525PAB3</cusip>
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          <isin value="US25525PAB31"/>
          <other otherDesc="SEDOL" value="BN73PR4"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1518194.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F040610</cusip>
        <identifiers>
          <isin value="US01F0406102"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3273771.59000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YEL5</cusip>
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          <other otherDesc="SEDOL" value="BMG9M19"/>
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        <balance>6820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5972816.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.94300000</annualizedRt>
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      <invstOrSec>
        <name>ADIENT GLOBAL HOLDINGS</name>
        <lei>213800VA38VCKE6M8790</lei>
        <title>Adient Global Holdings Ltd</title>
        <cusip>00687YAA3</cusip>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>837250.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>71654QCP5</cusip>
        <identifiers>
          <isin value="US71654QCP54"/>
          <other otherDesc="SEDOL" value="BHNZPJ4"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>CALPINE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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                    <invOthCountry>US</invOthCountry>
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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>MILLICOM INTL CELLULAR</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
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          <isin value="US600814AR85"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
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          <ticker value="N/A"/>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <title>USD CALL VERSUS COP PUT</title>
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        <name>Citibank, National Association</name>
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      <invstOrSec>
        <name>ONEOK INC</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc</title>
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        <balance>25000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEXICO CITY ARPT TRUST</name>
        <lei>N/A</lei>
        <title>Mexico City Airport Trust</title>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>VISTRA OPERATIONS CO LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co LLC</title>
        <cusip>92840VAG7</cusip>
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        <name>Citibank, National Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC</name>
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        <name>Bausch Health Companies Inc</name>
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        <name>Freddie Mac - STACR</name>
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        <name>UBS Securities LLC</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>Government National Mortgage A</name>
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      <invstOrSec>
        <name>CIVITAS RESOURCES INC</name>
        <lei>IIVIHPH28S64K95M2381</lei>
        <title>Civitas Resources Inc</title>
        <cusip>17888HAA1</cusip>
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          <isin value="US17888HAA14"/>
          <other otherDesc="SEDOL" value="BRT7527"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208714.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</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>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp</title>
        <cusip>126650CN8</cusip>
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          <isin value="US126650CN80"/>
          <other otherDesc="SEDOL" value="BYPFC45"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22504.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS UBER TECHNOLOGIES INC</title>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-180819.62000000</valUSD>
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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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              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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                <issuerName>UBER TECHNOLOGIES INC</issuerName>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
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            <upfrontRcpt>-151033.02000000</upfrontRcpt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ARAB REPUBLIC OF EGYPT</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Government International Bond</title>
        <cusip>000000000</cusip>
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          <isin value="XS1807305328"/>
          <other otherDesc="SEDOL" value="BDGT2N8"/>
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        <balance>900000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.94629761"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MPT OPER PARTNERSP/FINL</name>
        <lei>N/A</lei>
        <title>MPT Operating Partnership LP / MPT Finance Corp</title>
        <cusip>55342UAM6</cusip>
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          <isin value="US55342UAM62"/>
          <other otherDesc="SEDOL" value="BMF4PW7"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>326330.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HILCORP ENERGY I/HILCORP</name>
        <lei>N/A</lei>
        <title>Hilcorp Energy I LP / Hilcorp Finance Co</title>
        <cusip>431318AU8</cusip>
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          <isin value="US431318AU81"/>
          <other otherDesc="SEDOL" value="BL6JRZ1"/>
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        <balance>675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>655567.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BFLD Trust</name>
        <lei>N/A</lei>
        <title>BFLD 2024-VICT Mortgage Trust</title>
        <cusip>05555VAC3</cusip>
        <identifiers>
          <isin value="US05555VAC37"/>
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        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1699999.49000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.19829000</annualizedRt>
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      <invstOrSec>
        <name>VISTRA CORP</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co LLC</title>
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          <isin value="US92840VAF94"/>
          <other otherDesc="SEDOL" value="BHRH886"/>
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        <balance>405000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401253.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>000000000</cusip>
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          <isin value="XS1718868307"/>
          <other otherDesc="SEDOL" value="BDRYRW6"/>
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        <balance>400000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.78588549"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC</name>
        <lei>5493003GCX71N8988W38</lei>
        <title>USD/THB FORWARD</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>WCORE Commercial Mortgage Trus</name>
        <lei>N/A</lei>
        <title>WCORE Commercial Mortgage Trust 2024-CORE</title>
        <cusip>951913AG7</cusip>
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          <isin value="US951913AG77"/>
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        <balance>2790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2790000.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy Inc</title>
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        <balance>3525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3141970.01000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PENNYMAC FIN SVCS INC</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PennyMac Financial Services Inc</title>
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          <isin value="US70932MAB37"/>
          <other otherDesc="SEDOL" value="BKPR135"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1692467.66000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>09659W2K9</cusip>
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        <balance>2020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1823635.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MGM RESORTS INTL</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
        <cusip>552953CF6</cusip>
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          <isin value="US552953CF65"/>
          <other otherDesc="SEDOL" value="BHQ4FR6"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>STRIPS</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Strip Coupon</title>
        <cusip>912834UH9</cusip>
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          <isin value="US912834UH96"/>
          <other otherDesc="SEDOL" value="BRJNTN4"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>156150.00000000</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>2049-02-15</maturityDt>
          <couponKind>None</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL CARIBBEAN CRUISES</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd</title>
        <cusip>780153BG6</cusip>
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          <isin value="US780153BG60"/>
          <other otherDesc="SEDOL" value="BN486D5"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24992.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>Citibank, National Association</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>USD/TWD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2411060638785"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7920.47000000</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>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank, National Association</counterpartyName>
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            <amtCurSold>-1345000.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>43387010.00000000</amtCurPur>
            <curPur>TWD</curPur>
            <settlementDt>2024-12-18</settlementDt>
            <unrealizedAppr>-7920.47000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANTERO MIDSTREAM PART/FI</name>
        <lei>N/A</lei>
        <title>Antero Midstream Partners LP / Antero Midstream Finance Corp</title>
        <cusip>03690AAF3</cusip>
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          <isin value="US03690AAF30"/>
          <other otherDesc="SEDOL" value="BK60MT6"/>
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        <balance>2800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2791532.74000000</valUSD>
        <pctVal>0.246015932264</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>000000000</cusip>
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          <isin value="XS1824424706"/>
          <other otherDesc="SEDOL" value="BD3RMZ7"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.94629761"/>
        <valUSD>492709.69000000</valUSD>
        <pctVal>0.043422178785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Santander Bank Auto Credit-Lin</name>
        <lei>N/A</lei>
        <title>Santander Bank NA - SBCLN</title>
        <cusip>80290CAJ3</cusip>
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          <isin value="US80290CAJ36"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599247.60000000</valUSD>
        <pctVal>0.052811294260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00400000</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>GENERAL MOTORS CO</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co</title>
        <cusip>37045VAP5</cusip>
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          <isin value="US37045VAP58"/>
          <other otherDesc="SEDOL" value="BD93QC4"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1189453.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</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>Ocean Trails CLO IX</name>
        <lei>549300LD2JF1INLMST94</lei>
        <title>Ocean Trails CLO IX</title>
        <cusip>67515XAQ7</cusip>
        <identifiers>
          <isin value="US67515XAQ79"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10025918.00000000</valUSD>
        <pctVal>0.883577515761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66751000</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>DIGICEL INTL FIN LTD Common Equity</name>
        <lei>N/A</lei>
        <title>DIGICEL INTL FIN LTD Common Equity</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="G2770C100"/>
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        <balance>116510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>292440.10000000</valUSD>
        <pctVal>0.025772552405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>EURO-BOBL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="OEZ4"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01LW7DJ23"/>
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        <balance>-218.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.94629761"/>
        <valUSD>-169534.04000000</valUSD>
        <pctVal>-0.01494092270</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>EUREX CLEARING AKTIENGESELLSCHAFT</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>BUNDESOBLIGATION</issuerName>
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            <expDate>2024-12-06</expDate>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>PUGET ENERGY INC</name>
        <lei>SYBSJ96YIDMIUY7WDR33</lei>
        <title>Puget Energy Inc</title>
        <cusip>745310AK8</cusip>
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          <isin value="US745310AK84"/>
          <other otherDesc="SEDOL" value="BN7GF17"/>
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        <curCd>USD</curCd>
        <valUSD>3918009.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>GAP INC/THE</name>
        <lei>T2ZG1WRWZ4BUCMQL9224</lei>
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          <isin value="US364760AQ18"/>
          <other otherDesc="SEDOL" value="BMHLC81"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>661615.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN AIRLINES/AADVAN</name>
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        <title>American Airlines Inc/AAdvantage Loyalty IP Ltd</title>
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          <isin value="US00253XAB73"/>
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        <curCd>USD</curCd>
        <valUSD>1912968.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Ferrellgas Partners LP</name>
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        <title>Ferrellgas Partners LP</title>
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          <isin value="US3152933087"/>
          <ticker value="FGPRB"/>
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        <balance>4838.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>FALABELLA SA</name>
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        <title>Falabella SA</title>
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        <balance>2855000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <title>CNH CALL VERSUS USD PUT</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <title>CDS MEDLINE BORROWER LP</title>
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      <invstOrSec>
        <name>BOMBARDIER INC</name>
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      <invstOrSec>
        <name>Madison Park Euro Funding</name>
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      <invstOrSec>
        <name>Level 3 Financing Inc</name>
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      <invstOrSec>
        <name>Citibank, National Association</name>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <ticker value="UXYH5"/>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>US TREASURY N/B</issuerName>
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      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
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          <isin value="US89832QAD16"/>
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        <issuerCat>CORP</issuerCat>
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        <name>OneMain Financial Issuance Tru</name>
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          <couponKind>Fixed</couponKind>
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        <name>BOOST NEWCO BORROWER LLC</name>
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      <invstOrSec>
        <name>UK CLEARING HOUSE LIMITED</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140QRF24</cusip>
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        <name>CRESCENT ENERGY FINANCE</name>
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        <name>CHARTER COMM OPT LLC/CAP</name>
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        <name>BARCLAYS PLC</name>
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        <name>(PIPA070) PGIM Core Government Money Market Fund</name>
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        <name>VICI PROPERTIES / NOTE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>ORGANON &amp; CO/ORGANON FOR</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>WESCO DISTRIBUTION INC</name>
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        <balance>205000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS REPUBLIC OF ITALY</title>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>REPUBLIC OF ITALY GOVERNMENT INTERNATIONAL BOND</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>Bank of America, National Association</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>ZAR/USD FORWARD</title>
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        <curCd>USD</curCd>
        <valUSD>-45653.85000000</valUSD>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <title>CDS PEOPLES REPUBLIC OF CHINA</title>
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                <issuerName>China Government International Bond</issuerName>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <title>CDS WEATHERFORD INTERNATIONAL LTD</title>
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        <name>Doncasters US Finance LLC</name>
        <lei>N/A</lei>
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        <valUSD>185625.00000000</valUSD>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <curCd>USD</curCd>
        <valUSD>5419447.17000000</valUSD>
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        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
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        <name>Citibank, National Association</name>
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        <name>Citibank, National Association</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>SENSATA TECHNOLOGIES INC</name>
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        <title>Sensata Technologies Inc</title>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>ELECTRICIDAD FIRME DE ME</name>
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        <title>Electricidad Firme de Mexico Holdings SA de CV</title>
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        <name>CA MAGNUM HOLDINGS</name>
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        <name>INDO ASAHAN/MINERAL IND</name>
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        <name>BANK OF AMERICA CORP</name>
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        <title>Ashland Inc</title>
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        <name>Laurel Road Prime Student Loan</name>
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        <name>ECOPETROL SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
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        <invCountry>CO</invCountry>
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        <name>CALPINE CORP</name>
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        <name>Mcafee Corp</name>
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        <name>Freddie Mac</name>
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        <name>AKER BP ASA</name>
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        <name>Tank Holding Corp</name>
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        <name>BARCLAYS PLC</name>
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        <name>GOHL CAPITAL LTD</name>
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        <name>Citibank, National Association</name>
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        <name>Wells Fargo Commercial Mortgag</name>
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        <name>Government National Mortgage A</name>
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        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF INDONESIA</name>
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          <isin value="XS2100404396"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CEMEX SAB DE CV</name>
        <lei>549300RIG2CXWN6IV731</lei>
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          <isin value="USP2253TJN02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG ENERGY INC</name>
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        <title>NRG Energy Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Bank Auto Credit-Lin</name>
        <lei>N/A</lei>
        <title>Santander Bank Auto Credit-Linked Notes Series 2022-C</title>
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          <isin value="US80290CBJ27"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US09660SAA87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASCENT RESOURCES/ARU FIN</name>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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          <isin value="US126307BD80"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESKOM HOLDINGS SOC LTD</name>
        <lei>3789001900ED06F65111</lei>
        <title>Eskom Holdings SOC Ltd</title>
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          <isin value="US29646AAB26"/>
          <other otherDesc="SEDOL" value="BVFMLD7"/>
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        <balance>1155000.00000000</balance>
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        <valUSD>1155000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>iShares Core S&amp;P 500 ETF</name>
        <lei>5493007M4YMN8XL48C14</lei>
        <title>iShares Core S&amp;P 500 ETF</title>
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          <isin value="US4642872000"/>
          <ticker value="IVV"/>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SISECAM UK PLC</name>
        <lei>789000T82YRLMLUOC889</lei>
        <title>Sisecam UK PLC</title>
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          <isin value="US829688AA82"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BEAZER HOMES USA</name>
        <lei>549300DUPYT2T0F60I45</lei>
        <title>Beazer Homes USA Inc</title>
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          <isin value="US07556QBR56"/>
          <other otherDesc="SEDOL" value="BFMR519"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <title>CDS ARAB REPUBLIC OF EGYPT</title>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>TALLGRASS NRG PRTNR/FIN</name>
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        <title>Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp</title>
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        <name>SHERWOOD FINANCING PLC</name>
        <lei>259400SSZWSSPNYW7K08</lei>
        <title>Sherwood Financing PLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>UNITED AIR 2019-2 AA PTT</name>
        <lei>N/A</lei>
        <title>United Airlines 2019-2 Class AA Pass Through Trust</title>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <name>DBWF Mortgage Trust</name>
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        <name>Fannie Mae</name>
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        <name>OFFICE CHERIFIEN DES PHO</name>
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      <invstOrSec>
        <name>Bank of America, National Association</name>
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        <assetCat>DFE</assetCat>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ROYAL CARIBBEAN CRUISES</name>
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        <title>Royal Caribbean Cruises Ltd</title>
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        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <name>Cordatus CLO PLC</name>
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        <title>CVC Cordatus Loan Fund III DAC</title>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>ZAR/USD FORWARD</title>
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        <name>BFLD Trust</name>
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      <invstOrSec>
        <name>HOWARD HUGHES CORP</name>
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        <title>Howard Hughes Corp/The</title>
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        <name>CSC HOLDINGS LLC</name>
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        <name>Fannie Mae - CAS</name>
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        <name>Fannie Mae</name>
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        <name>Barclays Commercial Mortgage S</name>
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        <name>State Street Bank and Trust Company</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage S</name>
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      <invstOrSec>
        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>GS Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GENON HLDGS CLASS A</name>
        <lei>N/A</lei>
        <title>GENON HLDGS CLASS A</title>
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          <other otherDesc="Internal" value="B8A66QXU2"/>
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        <balance>677.00000000</balance>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC SECURITIES (USA) INC.</name>
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        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2410100650245"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC SECURITIES (USA) INC.</counterpartyName>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493000ITBQFEOXM0S98</lei>
        <title>Freddie Mac STACR REMIC Trust 2020-DNA6</title>
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        <identifiers>
          <isin value="US35566CBD65"/>
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        <balance>3240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>NEWELL BRANDS INC</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands Inc</title>
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          <isin value="US651229BE57"/>
          <other otherDesc="SEDOL" value="BRK14C1"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76320.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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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>UK CLEARING HOUSE LIMITED</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS GBP</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWB8A5Z42Z4"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.78588549"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="GBP" fixedOrFloating="Floating" floatingRtIndex="1 DAY STERLING OVERNIGHT INDEX AVERAGE" floatingRtSpread="0.00000000" pmntAmt="2730000.00000000">
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>DISH NETWORK CORP</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH Network Corp</title>
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          <isin value="US25470MAG42"/>
          <other otherDesc="SEDOL" value="BQB9NW0"/>
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        <balance>525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>556908.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.75000000</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>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>ZAR CALL VERSUS USD PUT</title>
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        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8AD9DAJ3"/>
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        <balance>-852000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5328.85000000</valUSD>
        <pctVal>-0.00046962802</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                    <name>J.P. MORGAN SECURITIES LLC</name>
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                      <other otherDesc="INTERNAL" value="PI61890_FXB8AD9DAJ3_187_S"/>
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                    <invOthCountry>US</invOthCountry>
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      <invstOrSec>
        <name>BRIXMOR OPERATING PART</name>
        <lei>549300CJHBL7JBUA6503</lei>
        <title>Brixmor Operating Partnership LP</title>
        <cusip>11120VAJ2</cusip>
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          <isin value="US11120VAJ26"/>
          <other otherDesc="SEDOL" value="BMC8VY6"/>
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        <balance>1590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1518341.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BELLEMEADE RE LT</name>
        <lei>N/A</lei>
        <title>Bellemeade Re Ltd</title>
        <cusip>078915AB1</cusip>
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          <isin value="US078915AB15"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Asurion LLC</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>Asurion LLC</title>
        <cusip>04649VBC3</cusip>
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          <isin value="US04649VBC37"/>
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        <balance>694652.30050000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS BANK OF AMERICA CORP</title>
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      <invstOrSec>
        <name>UK CLEARING HOUSE LIMITED</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS GBP</title>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>INTESA SANPAOLO SPA</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>FHLMC Multifamily Structured P</name>
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      <invstOrSec>
        <name>LORCA TELECOM BONDCO</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>BARCLAYS PLC</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IVORY COAST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EXPAND ENERGY CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BELLIS ACQUISITION CO PL</name>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Battalion CLO LTD</name>
        <lei>549300WYAEH0STKIKE49</lei>
        <title>Battalion CLO 18 Ltd</title>
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          <isin value="US07134QAQ91"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418D2M3</cusip>
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          <isin value="US31418D2M38"/>
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        <balance>1641880.44000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>ENTERPRISE PRODUCTS OPER</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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          <isin value="US29379VBM46"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199335.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2077-08-16</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>SEALED AIR/SEALED AIR US</name>
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          <isin value="US812127AA61"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>POST HOLDINGS INC</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings Inc</title>
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          <isin value="US737446AU86"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAUSCH HEALTH COS INC</name>
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        <title>Bausch Health Cos Inc</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XQKD8</cusip>
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        <balance>1940294.70000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>DIG MIDCO/DIFL US II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BARCLAYS PLC</name>
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        <title>CLP/USD FORWARD</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>STRIPS</name>
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        <title>United States Treasury Strip Coupon</title>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77490.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy Inc</title>
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        <valUSD>183209.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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                <issuerName>Abu Dhabi Government International Bond</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38382AXK6</cusip>
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          <isin value="US38382AXK68"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HPS Investment Partners CLO</name>
        <lei>N/A</lei>
        <title>HPC Investment Partners CLO</title>
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          <isin value="US44330BAM63"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>750581.70000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PMT CREDIT RISK TRANSFER TRUST</name>
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        <title>PMT Credit Risk Transfer Trust 2024-3R</title>
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          <isin value="US69392AAA60"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-27</maturityDt>
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      <invstOrSec>
        <name>TAYLOR MORRISON COMM</name>
        <lei>549300O1Z08HI2MRK572</lei>
        <title>Taylor Morrison Communities Inc</title>
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          <isin value="US87724RAA05"/>
          <other otherDesc="SEDOL" value="BJR4FL3"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH DBS CORP</name>
        <lei>N/A</lei>
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        <cusip>25470XBD6</cusip>
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          <isin value="US25470XBD66"/>
          <other otherDesc="SEDOL" value="BMDHSQ3"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BRASKEM NETHERLANDS</name>
        <lei>2549000TLMHFQ74DS330</lei>
        <title>Braskem Netherlands Finance BV</title>
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          <isin value="US10554TAD72"/>
          <other otherDesc="SEDOL" value="BKVKBD8"/>
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        <balance>262000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VMED O2 UK FINAN</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 UK Financing I PLC</title>
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          <isin value="XS2231189924"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Doncasters US Finance LLC</name>
        <lei>N/A</lei>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>DIGICEL GROUP HOLDINGS</name>
        <lei>N/A</lei>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Bank5</name>
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      <invstOrSec>
        <name>MGM RESORTS INTL</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Diamond Sports Group LLC</name>
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        <name>NATIONSTAR MTG HLD INC</name>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
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        <title>Ginnie Mae II Pool</title>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <title>JPMorgan Chase &amp; Co</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM 2024-277P Mortgage Trust</title>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <name>REPUBLIC OF INDONESIA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <title>Mylan Inc</title>
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        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <name>CEMEX SAB DE CV</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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      <invstOrSec>
        <name>STRIPS</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Citibank, National Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ITALY GOV'T INT BOND</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Republic of Italy Government International Bond</title>
        <cusip>465410BG2</cusip>
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          <isin value="US465410BG26"/>
          <other otherDesc="SEDOL" value="7552311"/>
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        <balance>2554000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</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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        <securityLending>
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      <invstOrSec>
        <name>POWER FINANCE CORP LTD</name>
        <lei>3358003Q6D9LIJJZ1614</lei>
        <title>Power Finance Corp Ltd</title>
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          <isin value="XS1864036576"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>TOTAL PLAY TELECOM</name>
        <lei>4469000001BSAPAMOQ06</lei>
        <title>Total Play Telecomunicaciones SA de CV</title>
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          <isin value="US89157FAC41"/>
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        <curCd>USD</curCd>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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          <isin value="US31418D7G15"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS TENET HEALTHCARE CORP</title>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>MXN CALL VERSUS USD PUT</title>
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        <name>HSBC SECURITIES (USA) INC.</name>
        <lei>CYYGQCGNHMHPSMRL3R97</lei>
        <title>GBP/USD FORWARD</title>
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        <name>IVORY COAST</name>
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        <title>Ivory Coast Government International Bond</title>
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        <invCountry>CI</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F060618</cusip>
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          <isin value="US01F0606180"/>
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        <balance>-2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-2022546.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>B&amp;G FOODS INC</name>
        <lei>549300TRW1LZMDJZAQ78</lei>
        <title>B&amp;G Foods Inc</title>
        <cusip>05508WAB1</cusip>
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          <isin value="US05508WAB19"/>
          <other otherDesc="SEDOL" value="BKKF792"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>859609.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>MGM CHINA HOLDINGS LTD</name>
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        <title>MGM China Holdings Ltd</title>
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          <isin value="US55300RAG65"/>
          <other otherDesc="SEDOL" value="BNDS8F2"/>
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        <balance>2160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2087775.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NXP BV/NXP FDG/NXP USA</name>
        <lei>N/A</lei>
        <title>NXP BV / NXP Funding LLC / NXP USA Inc</title>
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          <isin value="US62954HAY45"/>
          <other otherDesc="SEDOL" value="BPH0DQ4"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>809147.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>GOLDMAN SACHS &amp; CO. LLC</name>
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        <title>CDS REPUBLIC OF COLOMBIA</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWB8AD5YCK6"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>GOLDMAN SACHS &amp; CO. LLC</counterpartyName>
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              <otherRefInst>
                <issuerName>REPUBLIC OF COLOMBIA</issuerName>
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            <swapFlag>Y</swapFlag>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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          <isin value="US36179VTW09"/>
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        <balance>2634906.74000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US LONG BOND(CBT)</title>
        <cusip>000000000</cusip>
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          <ticker value="USH5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01N9ZLYV9"/>
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        <balance>-288.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-925625.03000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>US TREASURY N/B</issuerName>
                <issueTitle>United States Treasury Note/Bond</issueTitle>
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                  <cusip value="91282CHH7"/>
                  <isin value="US91282CHH79"/>
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            <expDate>2025-03-20</expDate>
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            <unrealizedAppr>-925625.03000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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          <isin value="US902973BC96"/>
          <other otherDesc="SEDOL" value="BMX6N65"/>
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        <balance>3660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3459156.95000000</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>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>WARNERMEDIA HOLDINGS INC</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Warnermedia Holdings Inc</title>
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          <isin value="US55903VBE20"/>
          <other otherDesc="SEDOL" value="BN70SX2"/>
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        <balance>810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>651921.14000000</valUSD>
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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>2052-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.14100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IVORY COAST</name>
        <lei>254900ICW11T82O6H590</lei>
        <title>Ivory Coast Government International Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2264871828"/>
          <other otherDesc="SEDOL" value="BMYD8L5"/>
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        <balance>262000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.94629761"/>
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        <pctVal>0.021594210061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GHX0</cusip>
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          <isin value="US06051GHX07"/>
          <other otherDesc="SEDOL" value="BK6XZC9"/>
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        <balance>2450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2242141.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.88400000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>THB/USD FORWARD</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2409200231615"/>
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        <valUSD>-116562.00000000</valUSD>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS UBS GROUP AG</title>
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        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
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      <invstOrSec>
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      <invstOrSec>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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      <invstOrSec>
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        <name>BARCLAYS BANK PLC</name>
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        <name>Freddie Mac</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BAUSCH HEALTH COS INC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ANGLOGOLD HOLDINGS PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PERMIAN RESOURC OPTG LLC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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        <name>MidOcean Credit CLO</name>
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        <title>Midocean Credit Clo VIII</title>
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        <invCountry>KY</invCountry>
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        <title>Serbia International Bond</title>
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        <name>UBS Securities LLC</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <title>IRS USD</title>
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        <name>Wells Fargo Commercial Mortgag</name>
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        <name>Freddie Mac</name>
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      <invstOrSec>
        <name>STATE OF MINAS GERAIS</name>
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        <name>Bank of America, National Association</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>DOMINICAN REPUBLIC</name>
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        <name>Fannie Mae</name>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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        <name>Blackstone Mortgage Trust Inc</name>
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        <title>Expand Energy Corp</title>
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        <name>Oaktown Re Ltd</name>
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        <name>JP Morgan Chase Commercial Mor</name>
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        <name>Government National Mortgage A</name>
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        <title>Ginnie Mae II Pool</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418EE63</cusip>
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        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <name>REPUBLIC OF COLOMBIA</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Elevation CLO Ltd</name>
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        <name>KB HOME</name>
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        <name>Santander Bank Auto Credit-Lin</name>
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        <name>Barclays Commercial Mortgage S</name>
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        <name>Citibank, National Association</name>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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      <invstOrSec>
        <name>FIRST QUANTUM MINERALS L</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>First Quantum Minerals Ltd</title>
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          <isin value="US335934AT24"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US36179WLP13"/>
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        <balance>1745687.82000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1492513.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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                <issuerName>REPUBLIC OF ARGENTINA</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>IVORY COAST</name>
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        <title>Ivory Coast Government International Bond</title>
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          <isin value="XS2064786754"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STRIPS</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Strip Coupon</title>
        <cusip>912834JH2</cusip>
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          <isin value="US912834JH26"/>
          <other otherDesc="SEDOL" value="B7LNMS8"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277380.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>BIG RIVER STEEL/BRS FIN</name>
        <lei>N/A</lei>
        <title>Big River Steel LLC / BRS Finance Corp</title>
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          <isin value="US08949LAB62"/>
          <other otherDesc="SEDOL" value="BKSDMC6"/>
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        <balance>975000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>982536.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VAN0</cusip>
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          <isin value="US29273VAN01"/>
          <other otherDesc="SEDOL" value="BN2CHF8"/>
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        <balance>655000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>655069.12000000</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>N/A</maturityDt>
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          <annualizedRt>6.50000000</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>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS LOUISIANA PACIFIC CORP</title>
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          <other otherDesc="INTERNAL" value="SWB8ACMF8G4"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-176767.57000000</valUSD>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>LOUISIANA-PACIFIC CORP</issuerName>
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      <invstOrSec>
        <name>ASHTON WOODS USA/FINANCE</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
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          <isin value="US126307BB25"/>
          <other otherDesc="SEDOL" value="BM9LYP0"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150548.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>EUR CALL VERSUS ZAR PUT</title>
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          <other otherDesc="INTERNAL" value="FXB8AD7SNQ2"/>
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        <balance>-1698000.00000000</balance>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                    <invOthCountry>US</invOthCountry>
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        <name>Avis Budget Rental Car Funding</name>
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        <name>Asurion LLC</name>
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        <title>Asurion LLC</title>
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      <invstOrSec>
        <name>Bayview Financing Trust</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>Bank of America, National Association</name>
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        <name>Fannie Mae</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>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2410310588929"/>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHEA HOMES LP/FNDG CP</name>
        <lei>N/A</lei>
        <title>Shea Homes LP / Shea Homes Funding Corp</title>
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          <isin value="US82088KAK43"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
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        <title>Ginnie Mae II Pool</title>
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          <isin value="US36179XTE66"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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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>GFL ENVIRONMENTAL INC</name>
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        <title>GFL Environmental Inc</title>
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          <isin value="US36168QAQ73"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS CAPITAL INC.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>CDS BNP PARIBAS</title>
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          <other otherDesc="INTERNAL" value="SWB8AD35CR6"/>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>CLEVELAND-CLIFFS INC</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs Inc</title>
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          <isin value="US185899AQ45"/>
          <other otherDesc="SEDOL" value="BR4S8S2"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VIKING OCEAN CRUISES SHI</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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      <invstOrSec>
        <name>Ares Euro CLO</name>
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        <title>Ares European CLO VI DAC</title>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS REPUBLIC OF PANAMA</title>
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        <name>PETROBRAS GLOBAL FINANCE</name>
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        <title>Petrobras Global Finance BV</title>
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        <name>STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC</name>
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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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      <invstOrSec>
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      <invstOrSec>
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        <name>REPUBLIC OF INDONESIA</name>
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          <isin value="XS2012546714"/>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>REPUBLIC OF SERBIA</name>
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      <invstOrSec>
        <name>Freddie Mac</name>
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      <invstOrSec>
        <name>BANCO DE CREDITO DEL PER</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Codere Group Topco S.A. Warrants</name>
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      <invstOrSec>
        <name>Citibank, National Association</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>USD/THB FORWARD</title>
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        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Citibank, National Association</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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      <invstOrSec>
        <name>Anchorage Capital CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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                <issuerName>FRONTIER COMMUNICATIONS</issuerName>
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      <invstOrSec>
        <name>CLECO CORPORATE HOLDINGS</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>US TREASURY N/B</issuerName>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
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        <title>Barclays PLC</title>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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                <issuerName>IHS MARKIT LTD</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>LINCT 2024-1 A1X</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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      <invstOrSec>
        <name>INTERCONTINENTAL EXCHANGE, INC.</name>
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        <name>Fannie Mae - CAS</name>
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      <invstOrSec>
        <name>THE TORONTO-DOMINION BANK</name>
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      <invstOrSec>
        <name>UNIVISION COMMUNICATIONS</name>
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        <title>Univision Communications Inc</title>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Fannie Mae</name>
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        <name>Citibank, National Association</name>
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        <title>Transocean Inc</title>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LD CELULOSE INTERNATIONA</name>
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        <name>Freddie Mac - STACR</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>New Residential Mortgage Loan</name>
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        <name>GoodLeap Sustainable Home Impr</name>
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        <name>ELECTRICIDAD FIRME DE ME</name>
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        <name>ITALY GOV'T INT BOND</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Fannie Mae</name>
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        <name>BOEING CO</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Citibank, National Association</name>
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        <name>Government National Mortgage A</name>
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        <name>Government National Mortgage A</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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                <issuerName>OMAN GOVERNMENT INTERNATIONAL BOND</issuerName>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>Bank5</name>
        <lei>N/A</lei>
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        <cusip>06211EBE0</cusip>
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          <isin value="US06211EBE05"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GRIFFON CORPORATION</name>
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        <title>Griffon Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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                <issuerName>PETROLEOS MEXICANOS</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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          <ticker value="SFRZ4"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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            <payOffProf>Short</payOffProf>
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                <issuerName>THE SECURED OVERNIGHT FINANCING RATE</issuerName>
                <issueTitle>THE SECURED OVERNIGHT FINANCING RATE</issueTitle>
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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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              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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                <issuerName>UBS GROUP AG</issuerName>
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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>BOEING CO</name>
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        <title>Boeing Co/The</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
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        <title>United States Treasury Note/Bond</title>
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          <isin value="US912810QZ49"/>
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        <balance>4825000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>STRIPS</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Strip Coupon</title>
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          <isin value="US912834UB27"/>
          <other otherDesc="SEDOL" value="BPSP3H9"/>
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        <balance>170000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56166.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RBJ0</cusip>
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          <other otherDesc="SEDOL" value="BPCQKP5"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</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>20 TSQ GroundCo LLC</name>
        <lei>N/A</lei>
        <title>20 Times Square Trust 2018-20TS</title>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>DIAMOND SPORTS GR/DIAMON</name>
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      <invstOrSec>
        <name>Regatta XII Funding Ltd.</name>
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        <title>Regatta XII Funding Ltd</title>
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        <balance>5500000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <debtSec>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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                    <invOthCountry>US</invOthCountry>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                <issuerName>CITIGROUP INC</issuerName>
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            <swapFlag>Y</swapFlag>
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            <rcptCurCd>USD</rcptCurCd>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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                <issuerName>REPUBLIC OF PERU</issuerName>
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                  <isin value="US715638AP79"/>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2411120788021"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4823.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>MHC Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>55316VAL8</cusip>
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          <isin value="US55316VAL80"/>
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        <balance>2188000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>REPUBLIC OF EL SALVADOR</name>
        <lei>529900AKDMUSFSDOM949</lei>
        <title>El Salvador Government International Bond</title>
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          <isin value="US283875CG53"/>
          <other otherDesc="SEDOL" value="BS1H801"/>
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        <balance>2370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2493240.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SV</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3133ANK78</cusip>
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          <isin value="US3133ANK789"/>
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        <balance>1968959.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1664434.20000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Gold Pool</title>
        <cusip>31335A3Y2</cusip>
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          <isin value="US31335A3Y27"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <curCd>USD</curCd>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
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        <balance>5500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <title>BRL/USD FORWARD</title>
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          <other otherDesc="INTERNAL" value="MDJ2410290759341"/>
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        <name>AYDEM YENILENEBILIR ENER</name>
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        <title>Aydem Yenilenebilir Enerji AS</title>
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        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Carlyle Global Market Strategi</name>
        <lei>635400YFJCERZ9QJKR15</lei>
        <title>Carlyle Euro CLO 2019-1 DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2320696862"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>STRIPS</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Strip Coupon</title>
        <cusip>912834HV3</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>None</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Affirm Inc</name>
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        <name>CALPINE CORP</name>
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        <name>TOPBUILD CORP</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>ROCKIES EXPRESS PIPELINE</name>
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      <invstOrSec>
        <name>SHERWOOD FINANCING PLC</name>
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        <name>LEVEL 3 FINANCING INC</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>VIKING CRUISES LTD</name>
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        <name>Government National Mortgage A</name>
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        <name>Fannie Mae - CAS</name>
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        </identifiers>
        <balance>505000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452946.23000000</valUSD>
        <pctVal>0.039917851380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>CNH CALL VERSUS USD PUT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8AD82VG1"/>
        </identifiers>
        <balance>-3406000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-19557.58000000</valUSD>
        <pctVal>-0.00172359657</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <fwdDeriv derivCat="FWD">
                  <counterparties>
                    <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
                    <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>J.P. MORGAN SECURITIES LLC</name>
                    <lei>ZBUT11V806EZRVTWT807</lei>
                    <title>CNH CALL VERSUS USD PUT</title>
                    <cusip>000000000</cusip>
                    <identifiers>
                      <other otherDesc="INTERNAL" value="PI61890_FXB8AD82VG1_187_S"/>
                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="CNY" exchangeRt="0.00000000"/>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
                  </derivAddlInfo>
                  <amtCurSold>N/A</amtCurSold>
                  <curSold>CNY</curSold>
                  <amtCurPur>N/A</amtCurPur>
                  <curPur>USD</curPur>
                  <settlementDt>2025-05-08</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <principalAmt>-3406000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>6.97500000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-05-08</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>8445.21000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>USD CALL VERSUS TRY PUT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="FXB8AD8S680"/>
        </identifiers>
        <balance>1700000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>201.46000000</valUSD>
        <pctVal>0.000017754536</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>DEUTSCHE BANK AKTIENGESELLSCHAFT</counterpartyName>
              <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <fwdDeriv derivCat="FWD">
                  <counterparties>
                    <counterpartyName>DEUTSCHE BANK AKTIENGESELLSCHAFT</counterpartyName>
                    <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
                    <lei>7LTWFZYICNSX8D621K86</lei>
                    <title>USD CALL VERSUS TRY PUT</title>
                    <cusip>000000000</cusip>
                    <identifiers>
                      <other otherDesc="INTERNAL" value="PI61890_FXB8AD8S680_DEUTG_S"/>
                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>DE</invCountry>
                    <invOthCountry>US</invOthCountry>
                  </derivAddlInfo>
                  <amtCurSold>N/A</amtCurSold>
                  <curSold>USD</curSold>
                  <amtCurPur>N/A</amtCurPur>
                  <curPur>TRY</curPur>
                  <settlementDt>2024-12-17</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <principalAmt>1700000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>50.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2024-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>70.55000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALBERTSONS COS/SAFEWAY</name>
        <lei>N/A</lei>
        <title>Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC</title>
        <cusip>013092AB7</cusip>
        <identifiers>
          <isin value="US013092AB74"/>
          <other otherDesc="SEDOL" value="BJQ1ZK4"/>
        </identifiers>
        <balance>1775000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1764691.67000000</valUSD>
        <pctVal>0.155521108577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>DIVERSIFIED HEALTHCARE T</name>
        <lei>N/A</lei>
        <title>Diversified Healthcare Trust</title>
        <cusip>81721MAM1</cusip>
        <identifiers>
          <isin value="US81721MAM10"/>
          <other otherDesc="SEDOL" value="BFMGS84"/>
        </identifiers>
        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1453571.11000000</valUSD>
        <pctVal>0.128102259599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</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>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>CDS PETROLEOS MEXICANOS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AD6FAD4"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-814.35000000</valUSD>
        <pctVal>-0.00007176812</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. LLC</counterpartyName>
              <counterpartyLei>9R7GPTSO7KV3UQJZQ078</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>PETROLEOS MEXICANOS</issuerName>
                <issueTitle>Petroleos Mexicanos</issueTitle>
                <identifiers>
                  <cusip value="706451BG5"/>
                  <isin value="US706451BG56"/>
                  <other otherDesc="SEDOL" value="B0Z2BX0"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2025-06-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-3077.08000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1030000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2262.73000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <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"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-01-27</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>
  <documents>XXXX</documents>
</edgarSubmission>
