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      <invstOrSec>
        <name>AQUILA RE LTD 2023-1</name>
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        <name>BLUE SKY RE DAC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALAMO RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RAMBLE RE LTD</name>
        <lei>254900X8K5BTBY971F92</lei>
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          <isin value="US751443AA01"/>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-05</maturityDt>
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      <invstOrSec>
        <name>SOLOMON RE LTD</name>
        <lei>N/A</lei>
        <title>Solomon Re Ltd</title>
        <cusip>83427GAA3</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-08</maturityDt>
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      <invstOrSec>
        <name>VITALITY RE XV LTD</name>
        <lei>N/A</lei>
        <title>Vitality Re XV Ltd</title>
        <cusip>92847CAA5</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-07</maturityDt>
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          <annualizedRt>7.89305400</annualizedRt>
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      <invstOrSec>
        <name>FLOODSMART RE LTD</name>
        <lei>549300KK1LNVFW95S875</lei>
        <title>FloodSmart Re Ltd</title>
        <cusip>33975CAN5</cusip>
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          <isin value="US33975CAN56"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>251025.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>26.89305400</annualizedRt>
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      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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          <isin value="XS2799645788"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-28</maturityDt>
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      <invstOrSec>
        <name>SUSSEX CAP UK PCC LTD</name>
        <lei>5493000Y0TDZ1NVT8T25</lei>
        <title>Sussex Capital UK Pcc Ltd</title>
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          <isin value="US869255AA73"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-08</maturityDt>
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      <invstOrSec>
        <name>PURPLE RE LTD</name>
        <lei>N/A</lei>
        <title>Purple Re Ltd</title>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-05</maturityDt>
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        <name>SANDERS RE III LTD</name>
        <lei>N/A</lei>
        <title>Sanders Re III Ltd</title>
        <cusip>80000XAA7</cusip>
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          <isin value="US80000XAA72"/>
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        <balance>1500000.00000000</balance>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-07</maturityDt>
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      <invstOrSec>
        <name>BALDWIN RE LTD</name>
        <lei>N/A</lei>
        <title>Baldwin Re Ltd</title>
        <cusip>05826BAB2</cusip>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-07</maturityDt>
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        <name>URSA RE LTD</name>
        <lei>549300O8X4DWGDJZ6W59</lei>
        <title>Ursa Re Ltd</title>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOPANGA RE LIMITED</name>
        <lei>N/A</lei>
        <title>Topanga Re Ltd</title>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WINDMILL II RE DAC</name>
        <lei>635400KO1KXAVOHC6O49</lei>
        <title>Windmill II RE DAC</title>
        <cusip>000000000</cusip>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-05</maturityDt>
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      <invstOrSec>
        <name>TORREY PINES RE LTD</name>
        <lei>N/A</lei>
        <title>Torrey Pines Re Ltd</title>
        <cusip>89141WAF9</cusip>
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        <balance>2100000.00000000</balance>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-05</maturityDt>
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        <name>MONTOYA RE LTD</name>
        <lei>N/A</lei>
        <title>Montoya Re Ltd</title>
        <cusip>613752AA2</cusip>
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          <isin value="US613752AA24"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5020500.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOMONI RE PTE LTD</name>
        <lei>N/A</lei>
        <title>Tomoni Re Pte Ltd</title>
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        <curCd>USD</curCd>
        <valUSD>1467900.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VISTA RE LTD</name>
        <lei>N/A</lei>
        <title>Vista RE Ltd</title>
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        <valUSD>1999000.00000000</valUSD>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
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        <curCd>USD</curCd>
        <valUSD>499500.00000000</valUSD>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-24</maturityDt>
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      <invstOrSec>
        <name>MYSTIC RE IV LTD</name>
        <lei>N/A</lei>
        <title>Mystic Re IV Ltd</title>
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          <isin value="US62865LAB36"/>
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        <curCd>USD</curCd>
        <valUSD>3284005.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-08</maturityDt>
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      <invstOrSec>
        <name>BONANZA RE LTD</name>
        <lei>5493003F0CXUQ2C83105</lei>
        <title>Bonanza RE Ltd</title>
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          <isin value="US09785EAJ01"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>704025.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-16</maturityDt>
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      <invstOrSec>
        <name>MYSTIC RE IV LTD</name>
        <lei>N/A</lei>
        <title>Mystic Re IV Ltd</title>
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          <isin value="US62865LAC19"/>
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        <curCd>USD</curCd>
        <valUSD>243425.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-08</maturityDt>
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          <annualizedRt>17.08305400</annualizedRt>
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      <invstOrSec>
        <name>VITALITY RE XIII LTD</name>
        <lei>N/A</lei>
        <title>Vitality Re XIII Ltd</title>
        <cusip>92849MAA1</cusip>
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          <isin value="US92849MAA18"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>496200.00000000</valUSD>
        <pctVal>0.151085396400</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.39305400</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TORREY PINES RE PTE LTD</name>
        <lei>N/A</lei>
        <title>Torrey Pines Re Pte Ltd</title>
        <cusip>89142MAA1</cusip>
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          <isin value="US89142MAA18"/>
          <other otherDesc="SEDOL" value="BNC23V6"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.57305400</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>RESIDENTIAL RE 2023 LTD</name>
        <lei>N/A</lei>
        <title>Residential Reinsurance 2023 Ltd</title>
        <cusip>76090WAA8</cusip>
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          <isin value="US76090WAA80"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>447600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.39305400</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FIRST COAST RE IV LTD</name>
        <lei>N/A</lei>
        <title>First Coast Re IV Ltd</title>
        <cusip>31969UAA5</cusip>
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          <isin value="US31969UAA51"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612660.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>MYSTIC RE IV LTD</name>
        <lei>N/A</lei>
        <title>Mystic Re IV Ltd</title>
        <cusip>62865LAE7</cusip>
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          <isin value="US62865LAE74"/>
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        <balance>11250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11432250.00000000</valUSD>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-08</maturityDt>
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      <invstOrSec>
        <name>INTL BK RECON &amp; DEVELOP</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK FOR RECONSTRUCTION &amp; DEVELOPMENT</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-29</maturityDt>
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        <name>HERBIE RE LTD</name>
        <lei>N/A</lei>
        <title>Herbie Re Ltd</title>
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          <isin value="US42703VAH69"/>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-07</maturityDt>
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      <invstOrSec>
        <name>CHARLES RIVER RE LTD</name>
        <lei>N/A</lei>
        <title>Charles River Re Ltd</title>
        <cusip>159873AA6</cusip>
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          <isin value="US159873AA63"/>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ISOSCELES RE 2023-A CLASS C</name>
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        <title>ISOSCELES RE 2023-A CLASS C</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>URSA RE II LTD</name>
        <lei>N/A</lei>
        <title>Ursa Re II Ltd</title>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITRUS RE LTD</name>
        <lei>549300VWWT5SE805NK88</lei>
        <title>Citrus Re Ltd</title>
        <cusip>177510AP9</cusip>
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          <isin value="US177510AP91"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
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      <invstOrSec>
        <name>HIGH POINT RE LTD</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>BAYOU RE LTD</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTEGRITY RE LTD</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>TITANIA RE LTD</name>
        <lei>5493008E73M6FH2NSB56</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TOMONI RE PTE LTD</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>RESIDENTIAL RE 21 LTD</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-06</maturityDt>
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      <invstOrSec>
        <name>KENDALL RE LTD</name>
        <lei>N/A</lei>
        <title>Kendall Re Ltd</title>
        <cusip>48878QAD2</cusip>
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        <balance>5000000.00000000</balance>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-30</maturityDt>
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        <name>ARMOR RE II LTD</name>
        <lei>549300X573KDIHEJL317</lei>
        <title>Armor RE II Ltd</title>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-07</maturityDt>
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      <invstOrSec>
        <name>MONA LISA RE LTD</name>
        <lei>549300R6SO6XBFDC7M25</lei>
        <title>Mona Lisa Re Ltd</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-08</maturityDt>
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        <name>WINSTON RE LTD</name>
        <lei>2549001Q4VX5Y31QFJ88</lei>
        <title>Winston RE Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AQUILA RE LTD 2023-1</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SANDERS RE II LTD</name>
        <lei>254900VRQU0N0MF3CT92</lei>
        <title>Sanders RE II Ltd</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-07</maturityDt>
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        <name>SANDERS RE III LTD</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-05</maturityDt>
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        <name>METROCAT RE LTD</name>
        <lei>N/A</lei>
        <title>MetroCat Re Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ALAMO RE LTD</name>
        <lei>5493003E22VRD25G0S03</lei>
        <title>Alamo Re Ltd</title>
        <cusip>011395AQ3</cusip>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-07</maturityDt>
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        <name>NAKAMA RE LTD</name>
        <lei>2549003ZFVVVVKMRJ633</lei>
        <title>Nakama Re Ltd</title>
        <cusip>62983QAN3</cusip>
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        <balance>250000.00000000</balance>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>MONTOYA RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ISOSCELES RE 2023-G</name>
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        <fairValLevel>3</fairValLevel>
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        <name>MERNA REINSURANCE II LTD</name>
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        <name>ALAMO RE LTD</name>
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        <name>MERNA REINSURANCE II LTD</name>
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        <name>CITRUS RE LTD</name>
        <lei>549300VWWT5SE805NK88</lei>
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        <name>SUTTER RE LTD</name>
        <lei>N/A</lei>
        <title>Sutter Re Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FOUR LAKES RE LTD</name>
        <lei>549300MG4RRU6DT7MN54</lei>
        <title>Four Lakes Re Ltd</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ALAMO RE LTD</name>
        <lei>5493003E22VRD25G0S03</lei>
        <title>Alamo Re Ltd</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GATEWAY RE LTD</name>
        <lei>549300ZYFWQV9RCIN520</lei>
        <title>Gateway Re Ltd</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALAMO RE LTD</name>
        <lei>5493003E22VRD25G0S03</lei>
        <title>Alamo Re Ltd</title>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-07</maturityDt>
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      <invstOrSec>
        <name>MATTERHORN RE LTD</name>
        <lei>549300QRZ77PO1BYWT39</lei>
        <title>Matterhorn Re Ltd</title>
        <cusip>577092AP4</cusip>
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          <isin value="US577092AP49"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-24</maturityDt>
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      <invstOrSec>
        <name>NORTHSHORE RE II LTD</name>
        <lei>N/A</lei>
        <title>Northshore Re II Ltd</title>
        <cusip>666842AE9</cusip>
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          <isin value="US666842AE95"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-08</maturityDt>
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      <invstOrSec>
        <name>CITRUS RE LTD</name>
        <lei>549300VWWT5SE805NK88</lei>
        <title>Citrus Re Ltd</title>
        <cusip>177510AL8</cusip>
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          <isin value="US177510AL87"/>
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        <balance>2450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2514435.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-07</maturityDt>
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          <annualizedRt>12.14305400</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FLOODSMART RE LTD</name>
        <lei>549300KK1LNVFW95S875</lei>
        <title>FloodSmart Re Ltd</title>
        <cusip>33975CAQ8</cusip>
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          <isin value="US33975CAQ87"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1954800.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-12</maturityDt>
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      <invstOrSec>
        <name>WINSTON RE LTD</name>
        <lei>2549001Q4VX5Y31QFJ88</lei>
        <title>Winston RE Ltd</title>
        <cusip>975660AA9</cusip>
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          <isin value="US975660AA93"/>
          <other otherDesc="SEDOL" value="BPGL670"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3940400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-26</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATURE COAST RE LTD</name>
        <lei>N/A</lei>
        <title>Nature Coast Re Ltd</title>
        <cusip>63901CAA9</cusip>
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          <isin value="US63901CAA99"/>
          <other otherDesc="SEDOL" value="BMJ0L89"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-07</maturityDt>
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      <invstOrSec>
        <name>URSA RE LTD</name>
        <lei>549300O8X4DWGDJZ6W59</lei>
        <title>Ursa Re Ltd</title>
        <cusip>90323WAN0</cusip>
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          <isin value="US90323WAN02"/>
          <other otherDesc="SEDOL" value="BQT1M87"/>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-07</maturityDt>
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      <invstOrSec>
        <name>GATEWAY RE II LTD</name>
        <lei>5493000ENKV5WXNA8Z86</lei>
        <title>Gateway Re II Ltd</title>
        <cusip>367927AA8</cusip>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-27</maturityDt>
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      <invstOrSec>
        <name>LOWER FERRY RE LTD</name>
        <lei>N/A</lei>
        <title>Lower Ferry Re Ltd</title>
        <cusip>547915AB4</cusip>
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          <isin value="US547915AB43"/>
          <other otherDesc="SEDOL" value="BLBM2Y9"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>914580.00000000</valUSD>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-08</maturityDt>
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        <name>KILIMANJARO III RE LTD</name>
        <lei>254900T37LD5YQ545V53</lei>
        <title>Kilimanjaro III Re Ltd</title>
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          <isin value="US49407PAH38"/>
          <other otherDesc="SEDOL" value="BR050H0"/>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-20</maturityDt>
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      <invstOrSec>
        <name>GATEWAY RE LTD</name>
        <lei>549300ZYFWQV9RCIN520</lei>
        <title>Gateway Re Ltd</title>
        <cusip>36779CAC0</cusip>
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          <isin value="US36779CAC01"/>
          <other otherDesc="SEDOL" value="BMX4FT6"/>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-24</maturityDt>
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      <invstOrSec>
        <name>STABILITAS RE LTD</name>
        <lei>N/A</lei>
        <title>Stabilitas Re Ltd</title>
        <cusip>85237TAA0</cusip>
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          <isin value="US85237TAA07"/>
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        <balance>3900000.00000000</balance>
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        <valUSD>4052880.00000000</valUSD>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-05</maturityDt>
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        <name>INTEGRITY RE LTD</name>
        <lei>N/A</lei>
        <title>Integrity Re Ltd</title>
        <cusip>45833UAH4</cusip>
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          <isin value="US45833UAH41"/>
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        <balance>5700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5839080.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>17.39305400</annualizedRt>
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      <invstOrSec>
        <name>PALM RE LTD</name>
        <lei>984500D3C66DA10DAP11</lei>
        <title>Palm RE Ltd</title>
        <cusip>69664FAA6</cusip>
        <identifiers>
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      <invstOrSec>
        <name>MERNA REINSURANCE II LTD</name>
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      <invstOrSec>
        <name>SANDERS RE III LTD</name>
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        <name>HYPATIA LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VITALITY RE XV LTD</name>
        <lei>N/A</lei>
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        <name>BLUE RIDGE RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TITANIA RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FLOODSMART RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-11</maturityDt>
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      <invstOrSec>
        <name>KILIMANJARO III RE LTD</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-21</maturityDt>
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        <name>GATEWAY RE LTD</name>
        <lei>549300ZYFWQV9RCIN520</lei>
        <title>Gateway Re Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AQUILA RE LTD 2023-1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RESIDENTIAL RE 2020 LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NAKAMA RE PTE LTD</name>
        <lei>N/A</lei>
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        <name>GALILEO RE LTD</name>
        <lei>549300MXI75DHMS7JH38</lei>
        <title>Galileo Re Ltd</title>
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        <name>KENDALL RE LTD</name>
        <lei>N/A</lei>
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        <name>INTL BK RECON &amp; DEVELOP</name>
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        <name>MAYFLOWER RE LTD</name>
        <lei>N/A</lei>
        <title>Mayflower Re Ltd</title>
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        <pctVal>0.541640537126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.50000000</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>FOUR LAKES RE LTD</name>
        <lei>549300MG4RRU6DT7MN54</lei>
        <title>Four Lakes Re Ltd</title>
        <cusip>35087TAF5</cusip>
        <identifiers>
          <isin value="US35087TAF57"/>
          <other otherDesc="SEDOL" value="BNG12W3"/>
        </identifiers>
        <balance>2750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2735700.00000000</valUSD>
        <pctVal>0.832979280397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.89305400</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>AZZURRO RE II DAC</name>
        <lei>635400NZWVDIAI82JP08</lei>
        <title>Azzurro Re II DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2788028178"/>
          <other otherDesc="SEDOL" value="BRBF530"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93703148"/>
        <valUSD>1067200.00000000</valUSD>
        <pctVal>0.324946261666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.30700000</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>ALAMO RE LTD</name>
        <lei>5493003E22VRD25G0S03</lei>
        <title>Alamo Re Ltd</title>
        <cusip>011395AJ9</cusip>
        <identifiers>
          <isin value="US011395AJ90"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5120500.00000000</valUSD>
        <pctVal>1.559114817150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.89305400</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>HERBIE RE LTD</name>
        <lei>N/A</lei>
        <title>Herbie Re Ltd</title>
        <cusip>42703VAG8</cusip>
        <identifiers>
          <isin value="US42703VAG86"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5910000.00000000</valUSD>
        <pctVal>1.799505628231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.39305400</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="ISO country code not reported for supranationals." noteItem="C.5.a"/>
      <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>2024-06-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Pioneer Series Trust VII</ncom:nameOfApplicant>
      <ncom:signature>Anthony J. Koenig, Jr</ncom:signature>
      <ncom:signerName>Anthony J. Koenig, Jr</ncom:signerName>
      <ncom:title>Managing Director, Chief Operations Officer &amp; Treasurer of the Funds</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
