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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EDvestinU Private Education Loan Issue No. LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-11-25</maturityDt>
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      <invstOrSec>
        <name>Bausch + Lomb Corp.</name>
        <lei>549300NY6OZM39SO6475</lei>
        <title>Bausch + Lomb Corp.</title>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CME Group Inc.</counterpartyName>
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      <invstOrSec>
        <name>Clarios Global LP</name>
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        <title>Clarios Global LP</title>
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          <isin value="US18060TAC99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hanesbrands, Inc.</name>
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        <title>Hanesbrands, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="45966"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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        <securityLending>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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          <isin value="US404119CL13"/>
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        <balance>53000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Variable Rate Notes, Series 2025-12, Class GF</title>
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          <isin value="US3136BVGS11"/>
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        <balance>69661.58000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69945.24000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Performance Food Group, Inc.</name>
        <lei>549300OMUOGBYK0FFO76</lei>
        <title>Performance Food Group, Inc.</title>
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          <isin value="US71376LAE02"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93513.75000000</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>
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      <invstOrSec>
        <name>Benefit Street Partners CLO XXIX Ltd.</name>
        <lei>N/A</lei>
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        <cusip>08186EAL2</cusip>
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          <isin value="US08186EAL20"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>2138008DC17PCNG48R87</lei>
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          <isin value="US92539TAA16"/>
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        <balance>79633.49000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79711.12000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Mobico Group plc</name>
        <lei>213800A8IQEMY8PA5X34</lei>
        <title>Mobico Group plc</title>
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        <balance>100000.00000000</balance>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>549300AMCKY57OK2CO56</lei>
        <title>Organon &amp; Co.</title>
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          <isin value="XS2332250708"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
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          <isin value="US36267CAA36"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Bertrand Franchise Finance SAS</name>
        <lei>969500HGPPEHSTNJFW57</lei>
        <title>Bertrand Franchise Finance SAS</title>
        <cusip>N/A</cusip>
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          <isin value="XS2831749481"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MFA Trust</name>
        <lei>N/A</lei>
        <title>MFA Trust, Series 2024-NPL1, Class A1</title>
        <cusip>58004YAA7</cusip>
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          <isin value="US58004YAA73"/>
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        <balance>96698.89000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96832.36000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OI European Group BV</name>
        <lei>72450053F5WRDY8CDZ66</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
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        <title>Duke Energy Corp.</title>
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          <isin value="XS2800020112"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Match Group Holdings II LLC</name>
        <lei>5493003RFFE030RC9167</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Vistra Operations Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US617932AA69"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
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          <isin value="US36265XAA90"/>
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        <curCd>USD</curCd>
        <valUSD>100000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Worldline SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Banijay Entertainment SAS</name>
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        <title>Banijay Entertainment SAS</title>
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        <invCountry>FR</invCountry>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>Barclays plc</name>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
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        <name>College Avenue Student Loans LLC</name>
        <lei>N/A</lei>
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        <name>Whitebox CLO II Ltd.</name>
        <lei>549300C89ZJ5IWOT1F21</lei>
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        <name>Enterprise Fleet Financing LLC</name>
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        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
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      <invstOrSec>
        <name>Parkland Corp.</name>
        <lei>549300UY5C6HUV0XLS53</lei>
        <title>Parkland Corp.</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93848.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cellnex Telecom SA</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Venture Global Calcasieu Pass LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prologis LP</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.12500000</annualizedRt>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Mauser Packaging Solutions Holding Co.</name>
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        <curCd>USD</curCd>
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        <name>OHA Loan Funding Ltd.</name>
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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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      <invstOrSec>
        <name>Bayer AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
        <title>Bayer AG</title>
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          <isin value="XS2900282133"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>GGAM Finance Ltd.</name>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Alpha Services and Holdings SA</name>
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        <name>Republic of Poland</name>
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        <name>BX Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <name>Wintershall Dea Finance BV</name>
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        <name>N/A</name>
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        <title>IRS</title>
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        <name>General Motors Co.</name>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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          <isin value="US05609TAA88"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BINOM Securitization Trust</name>
        <lei>N/A</lei>
        <title>BINOM Securitization Trust, Series 2021-INV1, Class A1</title>
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          <isin value="US05552UAA25"/>
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        <balance>53836.50280000</balance>
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        <curCd>USD</curCd>
        <valUSD>48284.99000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBX Trust</name>
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          <isin value="US67117PAA12"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
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          <isin value="US63942BAA26"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.84000000</annualizedRt>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US19688FAA30"/>
          <other otherDesc="Inhouse Asset ID" value="19688FAA3"/>
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        <balance>119543.11000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2066-09-27</maturityDt>
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          <annualizedRt>0.95600160</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SGL Group ApS</name>
        <lei>636700YQKGLXCPPUYE74</lei>
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        <cusip>N/A</cusip>
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          <isin value="NO0013183624"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.42700160</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>Booking Holdings, Inc.</title>
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          <isin value="XS2621007231"/>
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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>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
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          <isin value="US1248EPCD32"/>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>254900YXEB756F6RCA13</lei>
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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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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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          <isin value="US05608VAA44"/>
          <other otherDesc="Inhouse Asset ID" value="05608VAA4"/>
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        <balance>47624.58910000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="XS1602547264"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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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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          <couponKind>Variable</couponKind>
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        <name>Republic of Poland</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SCG Mortgage Trust</name>
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          <isin value="US78436EAA73"/>
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        <invCountry>US</invCountry>
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          <couponKind>Floating</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
        <valUSD>-1213.73000000</valUSD>
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        <name>Paramount Global</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>Ardonagh Finco Ltd.</name>
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        <name>Live Nation Entertainment, Inc.</name>
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        <name>Ohio Power Co.</name>
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        <name>TCW CLO Ltd.</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <name>AES Corp. (The)</name>
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        <name>Cross Mortgage Trust</name>
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        <name>RCI Banque SA</name>
        <lei>96950001WI712W7PQG45</lei>
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        <name>N/A</name>
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        <name>OBX Trust</name>
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        <name>Crescent Energy Finance LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Barclays Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association or Federal Home Loan Mortgage Corp.</name>
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        <name>IHO Verwaltungs GmbH</name>
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      <invstOrSec>
        <name>GoodLeap Home Improvement Solutions Trust</name>
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        <name>PRPM Trust</name>
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        <name>ING Groep NV</name>
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        <name>N/A</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Cross Mortgage Trust</name>
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        <name>Teva Pharmaceutical Finance Netherlands II BV</name>
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        <name>HCA, Inc.</name>
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        <name>OHA Credit Funding 5 Ltd.</name>
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        <name>Atrium Hotel Portfolio Trust</name>
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        <name>Republic of Colombia</name>
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        <name>PRPM Trust</name>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <title>Goodyear Tire &amp; Rubber Co. (The)</title>
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        <name>N/A</name>
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        <name>Carval CLO VIII-C Ltd.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Tricon Residential Trust</name>
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        <name>CD&amp;R Firefly Bidco plc</name>
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        <name>Adler Financing SARL</name>
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        <name>BRAVO Residential Funding Trust</name>
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      <invstOrSec>
        <name>Methanex Corp.</name>
        <lei>549300TSJHRXT9QXRD13</lei>
        <title>Methanex Corp.</title>
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      <invstOrSec>
        <name>Service Properties Trust</name>
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      <invstOrSec>
        <name>Navient Student Loan Trust</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>N/A</name>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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          <other otherDesc="Inhouse Asset ID" value="44798"/>
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      <invstOrSec>
        <name>Betony CLO 2 Ltd.</name>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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        <name>Republic of Indonesia</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Republic of Indonesia</title>
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        <name>Panther Escrow Issuer LLC</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
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        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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        <name>SAIF Securitization Trust</name>
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        <name>Cross Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Motability Operations Group plc</name>
        <lei>AZ3NL8JCZDCNUXFWI720</lei>
        <title>Motability Operations Group plc</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CENT Trust</name>
        <lei>N/A</lei>
        <title>CENT Trust, Series 2023-CITY, Class A</title>
        <cusip>12516WAA9</cusip>
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          <isin value="US12516WAA99"/>
          <other otherDesc="Inhouse Asset ID" value="12516WAA9"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100186.80000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="45023"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Barclays Bank</counterpartyName>
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            <amtCurSold>17960.00000000</amtCurSold>
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            <unrealizedAppr>-73.96000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2024-A, Class A1A</title>
        <cusip>831943AA3</cusip>
        <identifiers>
          <isin value="US831943AA30"/>
          <other otherDesc="Inhouse Asset ID" value="831943AA3"/>
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        <balance>119227.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120372.23000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XBD1</cusip>
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          <isin value="US03027XBD12"/>
          <other otherDesc="Inhouse Asset ID" value="03027XBD1"/>
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        <balance>72000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47046.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="43648"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>508.98000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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            <amtCurSold>500444218.00000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>CSTL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSTL Commercial Mortgage Trust, Series 2024-GATE, Class A</title>
        <cusip>22945JAA8</cusip>
        <identifiers>
          <isin value="US22945JAA88"/>
          <other otherDesc="Inhouse Asset ID" value="22945JAA8"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68687.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.76438040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="44134"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>148139.63000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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            <amtCurSold>14396000.00000000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>Unipol Assicurazioni SpA</name>
        <lei>8156005CE5E7340CCA86</lei>
        <title>Unipol Assicurazioni SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IT0005596207"/>
          <other otherDesc="Inhouse Asset ID" value="BYD2LKD70"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</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>Sunrise FinCo. I BV</name>
        <lei>213800MNFBDEQRS6HZ22</lei>
        <title>Sunrise FinCo. I BV</title>
        <cusip>90320BAA7</cusip>
        <identifiers>
          <isin value="US90320BAA70"/>
          <other otherDesc="Inhouse Asset ID" value="90320BAA7"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181873.00000000</valUSD>
        <pctVal>0.244457408578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Motion Finco SARL</name>
        <lei>2549002L1LBQZKA7UN30</lei>
        <title>Motion Finco SARL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2623257503"/>
          <other otherDesc="Inhouse Asset ID" value="BRYHY8TS9"/>
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        <balance>200000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
        <title>Velocity Commercial Capital Loan Trust, Series 2022-3, Class A</title>
        <cusip>92257BAA0</cusip>
        <identifiers>
          <isin value="US92257BAA08"/>
          <other otherDesc="Inhouse Asset ID" value="92257BAA0"/>
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        <balance>72147.37000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69486.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.22000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX0MGO0001D6"/>
          <other otherDesc="Inhouse Asset ID" value="BRYB3NRB2"/>
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        <balance>18675.00000000</balance>
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        <currencyConditional curCd="MXN" exchangeRt="20.46450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.49999880</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>Benefit Street Partners CLO XXI Ltd.</name>
        <lei>N/A</lei>
        <title>Benefit Street Partners CLO XXI Ltd., Series 2020-21A, Class A1R</title>
        <cusip>08186RAN9</cusip>
        <identifiers>
          <isin value="US08186RAN98"/>
          <other otherDesc="Inhouse Asset ID" value="08186RAN9"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249652.30000000</valUSD>
        <pctVal>0.335560277246</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>5.73359040</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OCP CLO Ltd.</name>
        <lei>254900QIJ8IQOK988683</lei>
        <title>OCP CLO Ltd., Series 2016-11A, Class A1R2</title>
        <cusip>67110DBA4</cusip>
        <identifiers>
          <isin value="US67110DBA46"/>
          <other otherDesc="Inhouse Asset ID" value="67110DBA4"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249704.48000000</valUSD>
        <pctVal>0.335630412932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.72006880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust, Series 2024-3, Class A4</title>
        <cusip>16159HAD9</cusip>
        <identifiers>
          <isin value="US16159HAD98"/>
          <other otherDesc="Inhouse Asset ID" value="16159HAD9"/>
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        <balance>80062.09000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80435.58000000</valUSD>
        <pctVal>0.108114307479</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000120</annualizedRt>
          <isDefault>N</isDefault>
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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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Variable Rate Notes, Series 2025-2, Class FG</title>
        <cusip>3136BUXZ8</cusip>
        <identifiers>
          <isin value="US3136BUXZ87"/>
          <other otherDesc="Inhouse Asset ID" value="3136BUXZ8"/>
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        <balance>154972.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155761.25000000</valUSD>
        <pctVal>0.209360331285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Kleopatra Finco SARL</name>
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      <invstOrSec>
        <name>BMP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>College Avenue Student Loans LLC</name>
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          <isin value="US193938AB31"/>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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          <fwdDeriv derivCat="FWD">
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        <name>UBS Group AG</name>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>213800CZKHCTHKMD9W65</lei>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <debtSec>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
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          <isin value="US62482BAA08"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LABL, Inc.</name>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <name>N/A</name>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Electricite de France SA</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Orsted A/S</name>
        <lei>W9NG6WMZIYEU8VEDOG48</lei>
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          <isin value="XS2293681685"/>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>3021-02-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>LoanCore 2025 Issuer LLC</name>
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          <isin value="US53947FAA93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nestle Finance International Ltd.</name>
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          <isin value="XS2350632472"/>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Regatta XXVIII Funding Ltd.</name>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
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          <isin value="US17328QAA94"/>
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      <invstOrSec>
        <name>Vmed O2 UK Financing I plc</name>
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        <title>Vmed O2 UK Financing I plc</title>
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          <isin value="XS2796600307"/>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>213800IHRVKO9R6JZ883</lei>
        <title>COLT Mortgage Loan Trust, Series 2023-2, Class A1</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Frontier Communications Holdings LLC</name>
        <lei>N/A</lei>
        <title>Frontier Communications Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>A&amp;D Mortgage Trust</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>Julius Baer Group Ltd.</name>
        <lei>5299007MF0604ZGJER92</lei>
        <title>Julius Baer Group Ltd.</title>
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          <isin value="XS2238020445"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association or Federal Home Loan Mortgage Corp.</name>
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        <title>Uniform Mortgage-Backed Securities</title>
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        <balance>4855799.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4378967.31000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Vmed O2 UK Financing I plc</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 UK Financing I plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS2358483258"/>
          <other otherDesc="Inhouse Asset ID" value="BRWNR2CV0"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2024-CBM, Class A2</title>
        <cusip>12674GAC8</cusip>
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          <isin value="US12674GAC87"/>
          <other otherDesc="Inhouse Asset ID" value="12674GAC8"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204093.96000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.86699920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SoftBank Group Corp.</name>
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        <name>Morgan Stanley</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Turkiye (The)</name>
        <lei>5493000PCHOG3B6S3Q85</lei>
        <title>Republic of Turkiye (The)</title>
        <cusip>N/A</cusip>
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          <isin value="TRT120929T12"/>
          <other otherDesc="Inhouse Asset ID" value="BYD8MAUM6"/>
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        <balance>540000.00000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="37.94750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>29.99999970</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>Verus Securitization Trust</name>
        <lei>N/A</lei>
        <title>Verus Securitization Trust, Series 2022-3, Class A1</title>
        <cusip>92538UAA9</cusip>
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          <isin value="US92538UAA97"/>
          <other otherDesc="Inhouse Asset ID" value="92538UAA9"/>
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        <balance>71480.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67556.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12999920</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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          <isin value="US651229AW64"/>
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        <balance>62000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61924.02000000</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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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>USA Compression Partners LP</name>
        <lei>N/A</lei>
        <title>USA Compression Partners LP</title>
        <cusip>91740PAG3</cusip>
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          <isin value="US91740PAG37"/>
          <other otherDesc="Inhouse Asset ID" value="91740PAG3"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101706.90000000</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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKT Mortgage Trust</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust, Series 2024-CES8, Class A1A</title>
        <cusip>749421AA1</cusip>
        <identifiers>
          <isin value="US749421AA19"/>
          <other otherDesc="Inhouse Asset ID" value="749421AA1"/>
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        <balance>94647.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94627.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.48955000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Worldline SA</name>
        <lei>549300CJMQNCA0U4TS33</lei>
        <title>Worldline SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR001400KLT5"/>
          <other otherDesc="Inhouse Asset ID" value="BRYNS9GP1"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>Engineering - Ingegneria Informatica - SpA</name>
        <lei>81560042F5E23EE61346</lei>
        <title>Engineering - Ingegneria Informatica - SpA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2620212386"/>
          <other otherDesc="Inhouse Asset ID" value="BRYH9BP13"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.12500000</annualizedRt>
          <isDefault>N</isDefault>
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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>EDP SA</name>
        <lei>529900CLC3WDMGI9VH80</lei>
        <title>EDP SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PTEDPLOM0017"/>
          <other otherDesc="Inhouse Asset ID" value="BRW0W0462"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.144393382103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2080-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.70000000</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>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust, Series 2021-BA, Class AFL</title>
        <cusip>64034QAA6</cusip>
        <identifiers>
          <isin value="US64034QAA67"/>
          <other otherDesc="Inhouse Asset ID" value="64034QAA6"/>
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        <balance>74559.63380000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74294.11000000</valUSD>
        <pctVal>0.099859493180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.21385120</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>Fontainebleau Miami Beach Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Fontainebleau Miami Beach Mortgage Trust, Series 2024-FBLU, Class A</title>
        <cusip>34461WAA8</cusip>
        <identifiers>
          <isin value="US34461WAA80"/>
          <other otherDesc="Inhouse Asset ID" value="34461WAA8"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>139912.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.76918000</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>Allied Universal Holdco LLC</name>
        <lei>98450038B4549046D794</lei>
        <title>Allied Universal Holdco LLC</title>
        <cusip>019576AD9</cusip>
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          <isin value="US019576AD90"/>
          <other otherDesc="Inhouse Asset ID" value="019576AD9"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101275.00000000</valUSD>
        <pctVal>0.136124790671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>213800RZ8QGNZ38DSP77</lei>
        <title>Verus Securitization Trust, Series 2024-8, Class A1</title>
        <cusip>92540PAA6</cusip>
        <identifiers>
          <isin value="US92540PAA66"/>
          <other otherDesc="Inhouse Asset ID" value="92540PAA6"/>
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        <balance>93701.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93505.36000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.36400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
        <cusip>36168QAP9</cusip>
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          <isin value="US36168QAP90"/>
          <other otherDesc="Inhouse Asset ID" value="36168QAP9"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94324.62000000</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>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
        <cusip>92857WBW9</cusip>
        <identifiers>
          <isin value="US92857WBW91"/>
          <other otherDesc="Inhouse Asset ID" value="92857WBW9"/>
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        <balance>7000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6214.08000000</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>2081-06-04</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Glencore Capital Finance DAC</name>
        <lei>213800HCUCI1HC7X6Q34</lei>
        <title>Glencore Capital Finance DAC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2811096267"/>
          <other otherDesc="Inhouse Asset ID" value="BYD0DG7K0"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>111018.80000000</valUSD>
        <pctVal>0.149221534540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15400000</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>TRESTLES CLO III Ltd.</name>
        <lei>N/A</lei>
        <title>TRESTLES CLO III Ltd., Series 2020-3A, Class ER</title>
        <cusip>89532RAE0</cusip>
        <identifiers>
          <isin value="US89532RAE09"/>
          <other otherDesc="Inhouse Asset ID" value="89532RAE0"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248579.75000000</valUSD>
        <pctVal>0.334118651531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.39317120</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>PRPM Trust</name>
        <lei>N/A</lei>
        <title>PRPM Trust, Series 2025-NQM1, Class M1A</title>
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        <name>Citycon Treasury BV</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>OBX Trust</name>
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        <name>N/A</name>
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        <name>PRKCM Trust</name>
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        <name>Charles River Laboratories International, Inc.</name>
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        <name>Galaxy XVIII CLO Ltd.</name>
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        <name>EMRLD Borrower LP</name>
        <lei>5493000GJYE7GAQCUC61</lei>
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        <name>NRG Energy, Inc.</name>
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      <invstOrSec>
        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Traton Finance Luxembourg SA</name>
        <lei>529900BRKIE6LKIEXD84</lei>
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          <isin value="DE000A3LKBD0"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="45719"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
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          <isin value="US92943GAA94"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
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          <isin value="US12008RAR84"/>
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        <balance>100000.00000000</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>CCO Holdings LLC</name>
        <lei>N/A</lei>
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          <isin value="US1248EPCQ45"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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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>
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      <invstOrSec>
        <name>FMG Resources August 2006 Pty. Ltd.</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>FMG Resources August 2006 Pty. Ltd.</title>
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          <isin value="US30251GBE61"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Telefonica Europe BV</name>
        <lei>7245007FZS0M65WUGP67</lei>
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        <name>Federal National Mortgage Association or Federal Home Loan Mortgage Corp.</name>
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        <issuerCat>USGSE</issuerCat>
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        <name>N/A</name>
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                <indexName>Markit iBoxx USD Liquid Leveraged Loans Total Return Index</indexName>
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      <invstOrSec>
        <name>ARES1</name>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
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        <name>Honeywell International, Inc.</name>
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        <name>Apidos CLO XXII</name>
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        <name>A&amp;D Mortgage Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Dynamo Newco II GmbH</name>
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        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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        <name>Lune Holdings SARL</name>
        <lei>54930003WQ56T0558M33</lei>
        <title>Lune Holdings SARL</title>
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        <invCountry>LU</invCountry>

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        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Letras do Tesouro Nacional Treasury Bills</title>
        <cusip>N/A</cusip>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
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        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp. Variable Rate Notes, Series 5515, Class FM</title>
        <cusip>3137HKJ96</cusip>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp. Variable Rate Notes, Series 5505, Class FB</title>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>HILT Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>HILT Commercial Mortgage Trust, Series 2024-ORL, Class A</title>
        <cusip>403956AA3</cusip>
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          <isin value="US403956AA32"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <valUSD>19879.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GCAT Trust</name>
        <lei>N/A</lei>
        <title>GCAT Trust, Series 2024-INV4, Class A2</title>
        <cusip>367919AB3</cusip>
        <identifiers>
          <isin value="US367919AB34"/>
          <other otherDesc="Inhouse Asset ID" value="367919AB3"/>
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        <balance>96982.19740000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96266.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>Sealed Air Corp.</name>
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        <name>Republic of Colombia</name>
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        <name>ELFI Graduate Loan Program LLC</name>
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        <name>Lottomatica Group SpA</name>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>SMB Private Education Loan Trust</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>SMB Private Education Loan Trust</name>
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        <name>MHP</name>
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      <invstOrSec>
        <name>Albertsons Cos., Inc.</name>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>Bracken MidCo1 plc</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Olin Corp.</name>
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        <title>Olin Corp.</title>
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        <name>N/A</name>
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        <name>Abanca Corp. Bancaria SA</name>
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        <title>Abanca Corp. Bancaria SA</title>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp. Variable Rate Notes, Series 5470, Class AF</title>
        <cusip>3137HHC90</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2054-11-25</maturityDt>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>9845000FE754F4AE7E70</lei>
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        <invCountry>US</invCountry>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association Variable Rate Notes, Series 2024-51, Class TF</title>
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      <invstOrSec>
        <name>FS Rialto Issuer LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SoftBank Group Corp.</name>
        <lei>5493003BZYYYCDIO0R13</lei>
        <title>SoftBank Group Corp.</title>
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        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
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        <name>Arena Luxembourg Finance SARL</name>
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        <name>Carlyle Global Market Strategies CLO Ltd.</name>
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        <name>N/A</name>
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        <name>Exxon Mobil Corp.</name>
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        <name>Ephios Subco 3 SARL</name>
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        <name>Barclays plc</name>
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        <name>OCP CLO Ltd.</name>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
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        <name>CBAM Ltd.</name>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
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      <invstOrSec>
        <name>Birch Grove CLO 3 Ltd.</name>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <name>MGM Resorts International</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Macy's Retail Holdings LLC</name>
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        <name>Post Holdings, Inc.</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
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      <invstOrSec>
        <name>OBX Trust</name>
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        <name>CIM Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>Devon Energy Corp.</name>
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        <title>Devon Energy Corp.</title>
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        <name>Barings Equipment Finance LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>TK Elevator Holdco GmbH</name>
        <lei>2549008GCHWX9EEMIS56</lei>
        <title>TK Elevator Holdco GmbH</title>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>N/A</lei>
        <title>Verus Securitization Trust, Series 2023-3, Class A1</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Gen Digital, Inc.</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital, Inc.</title>
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        <balance>100000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>ARI Fleet Lease Trust</name>
        <lei>N/A</lei>
        <title>ARI Fleet Lease Trust, Series 2023-B, Class A3</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CBAM Ltd.</name>
        <lei>254900IPFC9SXD6VQ444</lei>
        <title>CBAM Ltd., Series 2019-10A, Class A1R</title>
        <cusip>12482NAN1</cusip>
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        <balance>179140.47000000</balance>
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        <valUSD>179349.24000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-20</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Allwyn Entertainment Financing UK plc</name>
        <lei>315700J7ZTIN8XGCX365</lei>
        <title>Allwyn Entertainment Financing UK plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2615937187"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2021-C, Class B</title>
        <cusip>83208AAE3</cusip>
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          <isin value="US83208AAE38"/>
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        <balance>129287.43210000</balance>
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        <curCd>USD</curCd>
        <valUSD>125145.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SoFi Professional Loan Program LLC</name>
        <lei>N/A</lei>
        <title>SoFi Professional Loan Program LLC, Series 2017-E, Class B</title>
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          <isin value="US83404KAD54"/>
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        <balance>63604.56700000</balance>
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        <curCd>USD</curCd>
        <valUSD>62779.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.49000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nidda Healthcare Holding GmbH</name>
        <lei>549300Q89C4WAO6L0L19</lei>
        <title>Nidda Healthcare Holding GmbH</title>
        <cusip>N/A</cusip>
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          <isin value="XS2854896797"/>
          <other otherDesc="Inhouse Asset ID" value="BYD4UDEG1"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>
        <name>BX Trust</name>
        <lei>N/A</lei>
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        <cusip>05612HAA9</cusip>
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          <isin value="US05612HAA95"/>
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        <balance>126792.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127034.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.76105840</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GreenSky Home Improvement Issuer Trust</name>
        <lei>N/A</lei>
        <title>GreenSky Home Improvement Issuer Trust, Series 2024-2, Class A2</title>
        <cusip>39571XAB0</cusip>
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          <isin value="US39571XAB01"/>
          <other otherDesc="Inhouse Asset ID" value="39571XAB0"/>
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        <balance>85177.52980000</balance>
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        <curCd>USD</curCd>
        <valUSD>85453.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-10-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>
        <name>Viking Cruises Ltd.</name>
        <lei>549300IJP90T4MV2GL84</lei>
        <title>Viking Cruises Ltd.</title>
        <cusip>92676XAG2</cusip>
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          <isin value="US92676XAG25"/>
          <other otherDesc="Inhouse Asset ID" value="92676XAG2"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106813.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.12500000</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association Variable Rate Notes, Series 2024-125, Class HF</title>
        <cusip>38384VMP9</cusip>
        <identifiers>
          <isin value="US38384VMP93"/>
          <other otherDesc="Inhouse Asset ID" value="38384VMP9"/>
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        <balance>85239.11000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85114.85000000</valUSD>
        <pctVal>0.114403763409</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.34435840</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rocket Mortgage LLC</name>
        <lei>549300FGXN1K3HLB1R50</lei>
        <title>Rocket Mortgage LLC</title>
        <cusip>74841CAA9</cusip>
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          <isin value="US74841CAA99"/>
          <other otherDesc="Inhouse Asset ID" value="74841CAA9"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92224.48000000</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>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</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>Kingdom of Spain</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Bonos y Obligaciones del Estado</title>
        <cusip>N/A</cusip>
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          <isin value="ES0000012O67"/>
          <other otherDesc="Inhouse Asset ID" value="BYDDPNXG4"/>
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        <balance>320000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.457018429869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PMT Loan Trust</name>
        <lei>N/A</lei>
        <title>PMT Loan Trust, Series 2024-INV1, Class A3</title>
        <cusip>73015BAC9</cusip>
        <identifiers>
          <isin value="US73015BAC90"/>
          <other otherDesc="Inhouse Asset ID" value="73015BAC9"/>
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        <balance>97237.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96397.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atrium Hotel Portfolio Trust</name>
        <lei>N/A</lei>
        <title>Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class E</title>
        <cusip>04963XAL8</cusip>
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          <isin value="US04963XAL82"/>
          <other otherDesc="Inhouse Asset ID" value="04963XAL8"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31133.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.59883760</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>N/A</cusip>
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          <isin value="MX0MGO0001F1"/>
          <other otherDesc="Inhouse Asset ID" value="BRYMY64U4"/>
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        <balance>9000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.49999960</annualizedRt>
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        <name>Techem Verwaltungsgesellschaft 675 mbH</name>
        <lei>529900N0M7FQHNAV1A41</lei>
        <title>Techem Verwaltungsgesellschaft 675 mbH</title>
        <cusip>N/A</cusip>
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          <isin value="XS2932084507"/>
          <other otherDesc="Inhouse Asset ID" value="BYDAAFTN3"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.147401017517</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="39809"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>142.82000000</valUSD>
        <pctVal>0.000191965861</pctVal>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Bank of America</counterpartyName>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A</title>
        <cusip>17291NAA9</cusip>
        <identifiers>
          <isin value="US17291NAA90"/>
          <other otherDesc="Inhouse Asset ID" value="17291NAA9"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102113.18000000</valUSD>
        <pctVal>0.137251397208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.81960520</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRET Trust</name>
        <lei>N/A</lei>
        <title>PRET Trust, Series 2025-RPL1, Class A1</title>
        <cusip>69392FAA5</cusip>
        <identifiers>
          <isin value="US69392FAA57"/>
          <other otherDesc="Inhouse Asset ID" value="69392FAA5"/>
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        <balance>98828.65000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94835.58000000</valUSD>
        <pctVal>0.127469498649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Cedar Funding XIV CLO Ltd.</name>
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        <name>College Avenue Student Loans LLC</name>
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      <invstOrSec>
        <name>Coty, Inc.</name>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
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        <name>BlueMountain CLO Ltd.</name>
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      <invstOrSec>
        <name>NOVA Chemicals Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deephaven Residential Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Eni SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Antero Midstream Partners LP</name>
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        <name>N/A</name>
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        <name>EMRLD Borrower LP</name>
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          <isin value="US29103CAA62"/>
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        <name>N/A</name>
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        <name>Service Properties Trust</name>
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      <invstOrSec>
        <name>Starwood Property Trust, Inc.</name>
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        <name>VistaJet Malta Finance plc</name>
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        <name>SMB Private Education Loan Trust</name>
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        <name>Rogers Communications, Inc.</name>
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        <name>Fastighets AB Balder</name>
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        <title>Fastighets AB Balder</title>
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        <name>N/A</name>
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        <name>Pilgrim's Pride Corp.</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>NatWest Group plc</name>
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        <name>BPCE SA</name>
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        <name>N/A</name>
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        <name>OneMain Financial Issuance Trust</name>
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        <name>Volkswagen International Finance NV</name>
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        <name>BRAVO Residential Funding Trust</name>
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        <name>British Telecommunications plc</name>
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        <name>Czech Republic</name>
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        <title>Czech Republic</title>
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        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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        <name>Centrica plc</name>
        <lei>E26EDV109X6EEPBKVH76</lei>
        <title>Centrica plc</title>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
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          <maturityDt>2058-10-15</maturityDt>
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          <annualizedRt>6.15000000</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>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPBT9</cusip>
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          <isin value="US1248EPBT92"/>
          <other otherDesc="Inhouse Asset ID" value="1248EPBT9"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98493.86000000</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>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association or Federal Home Loan Mortgage Corp.</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F060642</cusip>
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          <isin value="US01F0606420"/>
          <other otherDesc="Inhouse Asset ID" value="BYDEEY5T3"/>
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        <balance>1285000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1305099.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-25</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>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F1B2NG7"/>
          <other otherDesc="Inhouse Asset ID" value="RXM520259"/>
          <other otherDesc="Future Ticker" value="RXM5 Comdty"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>831.46000000</valUSD>
        <pctVal>0.001117574114</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex Clearing</counterpartyName>
              <counterpartyLei>529900LN3S50JPU47S06</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Euro-Bund</issueTitle>
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                  <ticker value="RXM5 Comdty"/>
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            </descRefInstrmnt>
            <expDate>2025-06-06</expDate>
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            <curCd>EUR</curCd>
            <unrealizedAppr>831.46000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Anchorage Capital CLO 6 Ltd.</name>
        <lei>54930064GO7DB3TVDY21</lei>
        <title>Anchorage Capital CLO 6 Ltd., Series 2015-6A, Class AR3</title>
        <cusip>03328QBL4</cusip>
        <identifiers>
          <isin value="US03328QBL41"/>
          <other otherDesc="Inhouse Asset ID" value="03328QBL4"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250109.53000000</valUSD>
        <pctVal>0.336174844889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.73009120</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>STWD Trust</name>
        <lei>N/A</lei>
        <title>STWD Trust, Series 2021-FLWR, Class A</title>
        <cusip>78485GAA2</cusip>
        <identifiers>
          <isin value="US78485GAA22"/>
          <other otherDesc="Inhouse Asset ID" value="78485GAA2"/>
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        <balance>95150.43000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94615.21000000</valUSD>
        <pctVal>0.127173297018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.01003000</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>Hudson Yards Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Hudson Yards Mortgage Trust, Series 2019-30HY, Class A</title>
        <cusip>44421GAA1</cusip>
        <identifiers>
          <isin value="US44421GAA13"/>
          <other otherDesc="Inhouse Asset ID" value="44421GAA1"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92465.09000000</valUSD>
        <pctVal>0.124283298155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.22800000</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>Worldline SA</name>
        <lei>549300CJMQNCA0U4TS33</lei>
        <title>Worldline SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013439304"/>
          <other otherDesc="Inhouse Asset ID" value="BRTVGJ4V0"/>
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        <balance>78500.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>82583.18000000</valUSD>
        <pctVal>0.111000919185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-30</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Worldline SA/France</name>
              <title>Worldline SA/France</title>
              <curCd>EUR</curCd>
              <identifiers>
                <isin value="FR0011981968"/>
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            </dbtSecRefInstrument>
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          <currencyInfos>
            <currencyInfo convRatio="9.68992200" curCd="EUR"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICI Properties LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
        <cusip>925650AG8</cusip>
        <identifiers>
          <isin value="US925650AG86"/>
          <other otherDesc="Inhouse Asset ID" value="925650AG8"/>
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        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>63357.70000000</valUSD>
        <pctVal>0.085159749690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chemours Co. (The)</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>Chemours Co. (The)</title>
        <cusip>163851AF5</cusip>
        <identifiers>
          <isin value="US163851AF58"/>
          <other otherDesc="Inhouse Asset ID" value="163851AF5"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92234.07000000</valUSD>
        <pctVal>0.123972781747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
        <cusip>74843PAB6</cusip>
        <identifiers>
          <isin value="US74843PAB67"/>
          <other otherDesc="Inhouse Asset ID" value="74843PAB6"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99545.00000000</valUSD>
        <pctVal>0.133799479510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OCP CLO Ltd.</name>
        <lei>254900NUK1R46EK6YF62</lei>
        <title>OCP CLO Ltd., Series 2014-7A, Class A1RR</title>
        <cusip>67107KAZ9</cusip>
        <identifiers>
          <isin value="US67107KAZ93"/>
          <other otherDesc="Inhouse Asset ID" value="67107KAZ9"/>
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        <balance>4164.11410000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4161.53000000</valUSD>
        <pctVal>0.005593556160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.67478080</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>Zegona Finance plc</name>
        <lei>254900B3KC1SS7T2TE92</lei>
        <title>Zegona Finance plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2859406139"/>
          <other otherDesc="Inhouse Asset ID" value="BYD55E2J1"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>228154.30000000</valUSD>
        <pctVal>0.306664589763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing, Inc.</title>
        <cusip>527298BU6</cusip>
        <identifiers>
          <isin value="US527298BU63"/>
          <other otherDesc="Inhouse Asset ID" value="527298BU6"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107149.36000000</valUSD>
        <pctVal>0.144020579615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mariner Finance issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance issuance Trust, Series 2024-BA, Class C</title>
        <cusip>56847GAC7</cusip>
        <identifiers>
          <isin value="US56847GAC78"/>
          <other otherDesc="Inhouse Asset ID" value="56847GAC7"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101307.16000000</valUSD>
        <pctVal>0.136168017264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.73000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
        <cusip>29444UBM7</cusip>
        <identifiers>
          <isin value="US29444UBM71"/>
          <other otherDesc="Inhouse Asset ID" value="29444UBM7"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22285.34000000</valUSD>
        <pctVal>0.029953959442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRAVO Residential Funding Trust</name>
        <lei>N/A</lei>
        <title>BRAVO Residential Funding Trust, Series 2025-NQM2, Class A1</title>
        <cusip>10569NAC5</cusip>
        <identifiers>
          <isin value="US10569NAC56"/>
          <other otherDesc="Inhouse Asset ID" value="10569NAC5"/>
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        <balance>148130.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148587.57000000</valUSD>
        <pctVal>0.199718112689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <name>Univision Communications, Inc.</name>
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        <name>Ardagh Packaging Finance plc</name>
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      <invstOrSec>
        <name>Cali</name>
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      <invstOrSec>
        <name>EchoStar Corp.</name>
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        <name>N/A</name>
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        <name>Outfront Media Capital LLC</name>
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        <name>BX Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Unique Pub Finance Co. plc (The)</name>
        <lei>213800FOMWLKHQTI5562</lei>
        <title>Unique Pub Finance Co. plc (The), Series N</title>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Solventum Corp.</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>Solventum Corp.</title>
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      <invstOrSec>
        <name>Lamar Media Corp.</name>
        <lei>N/A</lei>
        <title>Lamar Media Corp.</title>
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        <balance>100000.00000000</balance>
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        <valUSD>97235.19000000</valUSD>
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      <invstOrSec>
        <name>Aston Martin Capital Holdings Ltd.</name>
        <lei>213800H4GKEF3CJ8C774</lei>
        <title>Aston Martin Capital Holdings Ltd.</title>
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        <balance>100000.00000000</balance>
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        <invCountry>JE</invCountry>
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      <invstOrSec>
        <name>MCR Mortgage Trust</name>
        <lei>N/A</lei>
        <title>MCR Mortgage Trust, Series 2024-TWA, Class A</title>
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        <balance>100000.00000000</balance>
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      <invstOrSec>
        <name>Tenneco, Inc.</name>
        <lei>549300U0EXXFAQFAD785</lei>
        <title>Tenneco, Inc.</title>
        <cusip>880349AU9</cusip>
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          <isin value="US880349AU90"/>
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      <invstOrSec>
        <name>Comstock Resources, Inc.</name>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BFLD Commercial Mortgage Trust</name>
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        <name>Republic of South Africa</name>
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        <name>Neuberger Berman CLO XIV Ltd.</name>
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        <name>Oracle Corp.</name>
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        <name>Schaeffler AG</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>National Bank of Greece SA</name>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
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        <name>Oriental Republic of Uruguay</name>
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        <name>N/A</name>
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        <name>Federal National Mortgage Association</name>
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        <name>BAMLL Trust</name>
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        <name>BRAVO Residential Funding Trust</name>
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        <name>Edge Finco plc</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>iliad SA</name>
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      <invstOrSec>
        <name>MCR Mortgage Trust</name>
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          <isin value="US55286PAA12"/>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Regional Management Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>75907VAA5</cusip>
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          <isin value="US75907VAA52"/>
          <other otherDesc="Inhouse Asset ID" value="75907VAA5"/>
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        <balance>18569.04480000</balance>
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        <valUSD>18431.86000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.68000000</annualizedRt>
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      <invstOrSec>
        <name>Poste Italiane SpA</name>
        <lei>815600354DEDBD0BA991</lei>
        <title>Poste Italiane SpA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2353073161"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp. Variable Rate Notes, Series 5448, Class CF</title>
        <cusip>3137HFLW3</cusip>
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          <isin value="US3137HFLW37"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Republic of Poland</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland</title>
        <cusip>N/A</cusip>
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          <isin value="PL0000117024"/>
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        <balance>35065.80000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>549300RCJSGOC0A85G53</lei>
        <title>New Residential Mortgage Loan Trust, Series 2015-1A, Class A3</title>
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          <isin value="US64829CAD02"/>
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        <balance>7427.79000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7057.89000000</valUSD>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>VEGAS Trust</name>
        <lei>N/A</lei>
        <title>VEGAS Trust, Series 2024-TI, Class A</title>
        <cusip>92254AAA5</cusip>
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          <isin value="US92254AAA51"/>
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        <balance>60000.00000000</balance>
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        <valUSD>60403.99000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SHR Trust</name>
        <lei>N/A</lei>
        <title>SHR Trust, Series 2024-LXRY, Class A</title>
        <cusip>784234AA4</cusip>
        <identifiers>
          <isin value="US784234AA47"/>
          <other otherDesc="Inhouse Asset ID" value="784234AA4"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99999.96000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.26918040</annualizedRt>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
        <cusip>86765LAZ0</cusip>
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          <isin value="US86765LAZ04"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93518.09000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association Variable Rate Notes, Series 2024-96, Class FL</title>
        <cusip>38384PC32</cusip>
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          <isin value="US38384PC321"/>
          <other otherDesc="Inhouse Asset ID" value="38384PC32"/>
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        <balance>40903.68400000</balance>
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        <curCd>USD</curCd>
        <valUSD>40875.47000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>213800MIPEZY1A8W1N28</lei>
        <title>COLT Mortgage Loan Trust, Series 2023-3, Class A2</title>
        <cusip>19688RAB5</cusip>
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          <isin value="US19688RAB50"/>
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        <balance>73887.42000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75051.04000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>7.43199840</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX0MGO0000H9"/>
          <other otherDesc="Inhouse Asset ID" value="BRS7P2Z96"/>
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        <balance>2949.00000000</balance>
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        <currencyConditional curCd="MXN" exchangeRt="20.46450000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.49999960</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="43570"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>633.27000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
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        <name>Republic of Indonesia</name>
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        <name>Republic of Colombia</name>
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        <name>Sirius XM Radio LLC</name>
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        <name>OHA Credit Funding 5 Ltd.</name>
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        <name>Federative Republic of Brazil</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>Jefferies GmbH</name>
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        <name>Lion/Polaris Lux 4 SA</name>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>Bank of America Corp.</name>
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      <invstOrSec>
        <name>Assurant CLO II Ltd.</name>
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        <name>N/A</name>
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        <name>Nelnet Student Loan Trust</name>
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      <invstOrSec>
        <name>Market Bidco Finco plc</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>Lendmark Funding Trust</name>
        <lei>N/A</lei>
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          <isin value="US52603DAD57"/>
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        <balance>110000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GCAT Trust</name>
        <lei>N/A</lei>
        <title>GCAT Trust, Series 2022-NQM4, Class A1</title>
        <cusip>36170HAA8</cusip>
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          <isin value="US36170HAA86"/>
          <other otherDesc="Inhouse Asset ID" value="36170HAA8"/>
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        <balance>77899.31000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77532.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2067-08-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Bubbles Bidco SpA</name>
        <lei>815600073942740CEB24</lei>
        <title>Bubbles Bidco SpA</title>
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        <identifiers>
          <isin value="XS2904658429"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-30</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>231.96000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Barclays Bank</counterpartyName>
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            <amtCurSold>12000.00000000</amtCurSold>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
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          <other otherDesc="Inhouse Asset ID" value="WNM520255"/>
          <other otherDesc="Future Ticker" value="WNM5 Comdty"/>
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        <balance>6.00000000</balance>
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        <valUSD>5739.43000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Angel Oak Mortgage Trust, Series 2024-3, Class A1</title>
        <cusip>03466HAA1</cusip>
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          <isin value="US03466HAA14"/>
          <other otherDesc="Inhouse Asset ID" value="03466HAA1"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>NYMT Trust</name>
        <lei>N/A</lei>
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        <cusip>62956VAA3</cusip>
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          <isin value="US62956VAA35"/>
          <other otherDesc="Inhouse Asset ID" value="62956VAA3"/>
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        <balance>93926.85000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93255.96000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.37499960</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>Vmed O2 UK Financing I plc</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 UK Financing I plc</title>
        <cusip>92858RAB6</cusip>
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          <isin value="US92858RAB69"/>
          <other otherDesc="Inhouse Asset ID" value="92858RAB6"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173692.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>GoldenTree Loan Management US CLO 10 Ltd.</name>
        <lei>5493007PBV0WMI12LF68</lei>
        <title>GoldenTree Loan Management US CLO 10 Ltd., Series 2021-10A, Class DR</title>
        <cusip>38138TAY7</cusip>
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          <isin value="US38138TAY73"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>250876.25000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>7.39316880</annualizedRt>
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      <invstOrSec>
        <name>Telenet Finance Luxembourg Notes SARL</name>
        <lei>2138007RI9GLJPCC3E25</lei>
        <title>Telenet Finance Luxembourg Notes SARL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE6300372289"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>194000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
        <lei>5299007V1ACKFFX2P066</lei>
        <title>Mineral Resources Ltd.</title>
        <cusip>603051AC7</cusip>
        <identifiers>
          <isin value="US603051AC70"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>98797.04000000</valUSD>
        <pctVal>0.132794138622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>Gruenenthal GmbH</name>
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        <name>ELFI Graduate Loan Program LLC</name>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>DK Trust</name>
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        <name>Navient Private Education Loan Trust</name>
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        <name>N/A</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>American Tower Corp.</name>
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        <name>SoFi Consumer Loan Program Trust</name>
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        <name>Olympus Water US Holding Corp.</name>
        <lei>549300YU2GGVCBN3MY89</lei>
        <title>Olympus Water US Holding Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="XS2628988730"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Riserva CLO Ltd.</name>
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          <isin value="US76761RAY53"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249675.00000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Hudson Yards Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US44421MAA80"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90765.86000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US64035GAA76"/>
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        <balance>76100.18830000</balance>
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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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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAG000125980"/>
          <other otherDesc="Inhouse Asset ID" value="BRSVP5YB2"/>
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        <balance>684533.00000000</balance>
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        <currencyConditional curCd="ZAR" exchangeRt="18.33500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="32397"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="45035"/>
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        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Barclays Bank</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>Nexi SpA</name>
        <lei>5493000P70CQRQG8SN85</lei>
        <title>Nexi SpA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2305842903"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-24</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Nexi SpA</title>
              <curCd>EUR</curCd>
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          <currencyInfos>
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      <invstOrSec>
        <name>United Group BV</name>
        <lei>213800PC85O8BJ7DU398</lei>
        <title>United Group BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2758099779"/>
          <other otherDesc="Inhouse Asset ID" value="BRYUQ75R9"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.80600170</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
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          <other otherDesc="Inhouse Asset ID" value="BYDD7W8K3"/>
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        <balance>2769415.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>CME Group Inc.</counterpartyName>
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      <invstOrSec>
        <name>FIGRE Trust</name>
        <lei>N/A</lei>
        <title>FIGRE Trust, Series 2024-SL1, Class A1</title>
        <cusip>31684JAA4</cusip>
        <identifiers>
          <isin value="US31684JAA43"/>
          <other otherDesc="Inhouse Asset ID" value="31684JAA4"/>
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        <balance>132828.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133341.60000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association or Federal Home Loan Mortgage Corp.</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F042657</cusip>
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          <isin value="US01F0426571"/>
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        <balance>1118000.00000000</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>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>N/A</lei>
        <title>Foundation Finance Trust, Series 2024-2A, Class B</title>
        <cusip>35040VAB5</cusip>
        <identifiers>
          <isin value="US35040VAB53"/>
          <other otherDesc="Inhouse Asset ID" value="35040VAB5"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99313.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.93000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Xerox Holdings Corp.</name>
        <lei>5493000Y33XDVO2CXC18</lei>
        <title>Xerox Holdings Corp.</title>
        <cusip>98421MAB2</cusip>
        <identifiers>
          <isin value="US98421MAB28"/>
          <other otherDesc="Inhouse Asset ID" value="98421MAB2"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70214.71000000</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>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance Issuance Trust, Series 2021-AA, Class A</title>
        <cusip>56848DAA7</cusip>
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          <isin value="US56848DAA72"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95872.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.86000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="44765"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>0.54000000</valUSD>
        <pctVal>0.000000725819</pctVal>
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        <assetCat>DFE</assetCat>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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      <invstOrSec>
        <name>CK Hutchison Group Telecom Finance SA</name>
        <lei>254900OM17Q9YNDIUG82</lei>
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          <isin value="XS2057072477"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JetBlue Airways Corp.</name>
        <lei>N/A</lei>
        <title>JetBlue Airways Corp.</title>
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          <isin value="US476920AA15"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CONE Trust</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>VZ Vendor Financing II BV</name>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>NGL Energy Operating LLC</name>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>Bankinter SA</name>
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        <name>INEOS Quattro Finance 2 plc</name>
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        <name>N/A</name>
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        <name>Charter Communications Operating LLC</name>
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        <lei>N/A</lei>
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      <invstOrSec>
        <name>INEOS Finance plc</name>
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        <name>Benefit Street Partners CLO XXXV Ltd.</name>
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        <name>TeamSystem SpA</name>
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        <name>1011778 BC ULC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>BlueMountain CLO Ltd.</name>
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        <name>UBS Commercial Mortgage Trust</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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          <isin value="XS2595028536"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US83207DAA63"/>
          <other otherDesc="Inhouse Asset ID" value="83207DAA6"/>
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        <balance>131924.53500000</balance>
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        <curCd>USD</curCd>
        <valUSD>133852.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.67000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>EFMT</name>
        <lei>N/A</lei>
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          <isin value="US26845DAA37"/>
          <other otherDesc="Inhouse Asset ID" value="26845DAA3"/>
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        <balance>94109.79000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94338.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2069-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.70800160</annualizedRt>
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      <invstOrSec>
        <name>Republic of Indonesia</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Republic of Indonesia</title>
        <cusip>N/A</cusip>
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          <isin value="IDG000021809"/>
          <other otherDesc="Inhouse Asset ID" value="BRY7LK1S8"/>
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        <balance>751000000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="44128"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Expand Energy Corp.</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Expand Energy Corp.</title>
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          <isin value="US845467AR03"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99582.65000000</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>5.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virgin Media Secured Finance plc</name>
        <lei>213800X3RLP4NOTPY579</lei>
        <title>Virgin Media Secured Finance plc</title>
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          <isin value="XS1996438948"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
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          <isin value="ES0840609020"/>
          <other otherDesc="Inhouse Asset ID" value="BRW943J88"/>
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        <balance>200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>TRSIBOXX</title>
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          <other otherDesc="Inhouse Asset ID" value="BYDG0M6F8"/>
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        <balance>567000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>J.P. Morgan</counterpartyName>
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                <indexName>Markit iBoxx USD Liquid Leveraged Loans Total Return Index</indexName>
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      <invstOrSec>
        <name>MFA Trust</name>
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          <isin value="US55284PAF27"/>
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        <name>SREIT Trust</name>
        <lei>N/A</lei>
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          <isin value="US85236WCE49"/>
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      <invstOrSec>
        <name>Palmer Square Loan Funding Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US69703HAA59"/>
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      <invstOrSec>
        <name>AREIT Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US00193DAA63"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
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      <invstOrSec>
        <name>Churchill Downs, Inc.</name>
        <lei>529900FODTBQC8MIS994</lei>
        <title>Churchill Downs, Inc.</title>
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          <isin value="US171484AJ78"/>
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        <balance>100000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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              <counterpartyName>ICE Clear US</counterpartyName>
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      <invstOrSec>
        <name>Apidos CLO Xxv</name>
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          <isin value="US03762YBD85"/>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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          <isin value="US88033GDU13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>2023-MIC Trust</name>
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          <isin value="US87256GAA04"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>213800CZKHCTHKMD9W65</lei>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>254900S8TF74AZOT0548</lei>
        <title>Angel Oak Mortgage Trust, Series 2024-12, Class A1</title>
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          <isin value="US034932AA18"/>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
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        <balance>23000.00000000</balance>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
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      <invstOrSec>
        <name>Q-Park Holding I BV</name>
        <lei>2549003839B7HE3NDP48</lei>
        <title>Q-Park Holding I BV</title>
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      <invstOrSec>
        <name>Ziggo BV</name>
        <lei>213800TQASLF9JXH5J59</lei>
        <title>Ziggo BV</title>
        <cusip>N/A</cusip>
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          <isin value="XS2069016165"/>
          <other otherDesc="Inhouse Asset ID" value="BRTXX1BQ9"/>
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        <balance>100000.00000000</balance>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Standard Industries, Inc.</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Deuce Finco plc</name>
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        <name>Motability Operations Group plc</name>
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        <name>Neuberger Berman Loan Advisers CLO 40 Ltd.</name>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TTAN MHC</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Netherlands II BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Fedrigoni SpA</name>
        <lei>8156004CE82074779D19</lei>
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          <isin value="XS2748964850"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
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        <balance>34000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
        <lei>N/A</lei>
        <title>American Airlines, Inc.</title>
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        <balance>100000.00000000</balance>
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        <valUSD>97848.16000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2029-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EquipmentShare.com, Inc.</name>
        <lei>254900PWJK48CGPKPI80</lei>
        <title>EquipmentShare.com, Inc.</title>
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          <isin value="US29450YAA73"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103602.49000000</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>
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      <invstOrSec>
        <name>Hilcorp Energy I LP</name>
        <lei>549300ITPIHLG0LHEC09</lei>
        <title>Hilcorp Energy I LP</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102477.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Frontier Communications Holdings LLC</name>
        <lei>N/A</lei>
        <title>Frontier Communications Holdings LLC</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>98663.70000000</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>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SELF Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SELF Commercial Mortgage Trust, Series 2024-STRG, Class A</title>
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          <isin value="US81631WAA45"/>
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        <balance>50000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2034-11-15</maturityDt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Variable Rate Notes, Series 2024-94, Class FB</title>
        <cusip>3136BTK44</cusip>
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          <isin value="US3136BTK449"/>
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        <balance>25371.03000000</balance>
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        <valUSD>25474.69000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2054-12-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Goldstory SAS</name>
        <lei>969500NWR67ONUJD4A26</lei>
        <title>Goldstory SAS</title>
        <cusip>N/A</cusip>
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          <isin value="XS2761222400"/>
          <other otherDesc="Inhouse Asset ID" value="BRYV0VEY7"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2024-GPA3, Class C</title>
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          <isin value="US123910AE11"/>
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        <balance>93771.40000000</balance>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2039-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.21115920</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2223762381"/>
          <other otherDesc="Inhouse Asset ID" value="BRW7TX0W6"/>
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        <balance>250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LBA Trust</name>
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          <isin value="US50177BAA52"/>
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        <valUSD>69825.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BCP V Modular Services Finance II plc</name>
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          <isin value="XS2397447538"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
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        <balance>29000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3137HHSE22"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hungary</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="HU0000406624"/>
          <other otherDesc="Inhouse Asset ID" value="BRYPDWCU4"/>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>549300AMCKY57OK2CO56</lei>
        <title>Organon &amp; Co.</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Open Text Corp.</name>
        <lei>549300HP7ONDQODZJV16</lei>
        <title>Open Text Corp.</title>
        <cusip>683715AC0</cusip>
        <identifiers>
          <isin value="US683715AC05"/>
          <other otherDesc="Inhouse Asset ID" value="683715AC0"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94202.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ADLER Real Estate GmbH</name>
        <lei>529900Y6QFNN3D363B76</lei>
        <title>ADLER Real Estate GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1713464524"/>
          <other otherDesc="Inhouse Asset ID" value="BRTGYB366"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>SHER Trust</name>
        <lei>N/A</lei>
        <title>SHER Trust, Series 2024-DAL, Class A</title>
        <cusip>81130BAA6</cusip>
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          <isin value="US81130BAA61"/>
          <other otherDesc="Inhouse Asset ID" value="81130BAA6"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149671.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Telefonica Europe BV</name>
        <lei>7245007FZS0M65WUGP67</lei>
        <title>Telefonica Europe BV</title>
        <cusip>N/A</cusip>
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          <isin value="XS2755535577"/>
          <other otherDesc="Inhouse Asset ID" value="BRYVWF6R1"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="45578"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>30.29000000</valUSD>
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      <invstOrSec>
        <name>Elmwood CLO II Ltd.</name>
        <lei>N/A</lei>
        <title>Elmwood CLO II Ltd., Series 2019-2A, Class ERR</title>
        <cusip>29001RAJ7</cusip>
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          <isin value="US29001RAJ77"/>
          <other otherDesc="Inhouse Asset ID" value="29001RAJ7"/>
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        <balance>250000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-20</maturityDt>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
        <cusip>548661EB9</cusip>
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          <isin value="US548661EB92"/>
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        <balance>16000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11019.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>BAHA Trust</name>
        <lei>N/A</lei>
        <title>BAHA Trust, Series 2024-MAR, Class C</title>
        <cusip>05493XAG5</cusip>
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          <isin value="US05493XAG51"/>
          <other otherDesc="Inhouse Asset ID" value="05493XAG5"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103319.34000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Cedacri SpA</name>
        <lei>815600E85FCD78B3EE61</lei>
        <title>Cedacri SpA</title>
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          <isin value="XS2622212707"/>
          <other otherDesc="Inhouse Asset ID" value="BRYHJ37S1"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.05599895</annualizedRt>
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      <invstOrSec>
        <name>FIS Fabbrica Italiana Sintetici SpA</name>
        <lei>8156004D7056C63EC525</lei>
        <title>FIS Fabbrica Italiana Sintetici SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2436585355"/>
          <other otherDesc="Inhouse Asset ID" value="BRWXZQQ66"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>108140.81000000</valUSD>
        <pctVal>0.145353197968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="32646"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>1543.65000000</valUSD>
        <pctVal>0.002074836170</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>29961.86000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1656891.00000000</amtCurPur>
            <curPur>EGP</curPur>
            <settlementDt>2025-06-23</settlementDt>
            <unrealizedAppr>1543.65000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="43860"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>611.10000000</valUSD>
        <pctVal>0.000821385925</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Barclays Bank</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <amtCurSold>40000.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>231745.20000000</amtCurPur>
            <curPur>BRL</curPur>
            <settlementDt>2025-04-02</settlementDt>
            <unrealizedAppr>611.10000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Great Wolf Trust</name>
        <lei>N/A</lei>
        <title>Great Wolf Trust, Series 2024-WOLF, Class A</title>
        <cusip>39152MAA3</cusip>
        <identifiers>
          <isin value="US39152MAA36"/>
          <other otherDesc="Inhouse Asset ID" value="39152MAA3"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100062.67000000</valUSD>
        <pctVal>0.134495285191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.86118160</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2023-DELC, Class A</title>
        <cusip>05610DAA0</cusip>
        <identifiers>
          <isin value="US05610DAA00"/>
          <other otherDesc="Inhouse Asset ID" value="05610DAA0"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100062.50000000</valUSD>
        <pctVal>0.134495056692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.00917840</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="44804"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>276.47000000</valUSD>
        <pctVal>0.000371606229</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <amtCurSold>16161901.00000000</amtCurSold>
            <curSold>CLP</curSold>
            <amtCurPur>17296.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-04-24</settlementDt>
            <unrealizedAppr>276.47000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIH Trust</name>
        <lei>N/A</lei>
        <title>HIH Trust, Series 2024-61P, Class A</title>
        <cusip>40444VAA9</cusip>
        <identifiers>
          <isin value="US40444VAA98"/>
          <other otherDesc="Inhouse Asset ID" value="40444VAA9"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100437.77000000</valUSD>
        <pctVal>0.134999461039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.16118040</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>Enel SpA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2975137618"/>
          <other otherDesc="Inhouse Asset ID" value="BYDD3ZGU9"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>106721.71000000</valUSD>
        <pctVal>0.143445770761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</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>Arroyo Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Arroyo Mortgage Trust, Series 2019-1, Class A1</title>
        <cusip>042859AA6</cusip>
        <identifiers>
          <isin value="US042859AA69"/>
          <other otherDesc="Inhouse Asset ID" value="042859AA6"/>
        </identifiers>
        <balance>13818.42000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13430.68000000</valUSD>
        <pctVal>0.018052317981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.80499840</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>BOCA Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BOCA Commercial Mortgage Trust, Series 2024-BOCA, Class A</title>
        <cusip>096817AA9</cusip>
        <identifiers>
          <isin value="US096817AA90"/>
          <other otherDesc="Inhouse Asset ID" value="096817AA9"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100434.78000000</valUSD>
        <pctVal>0.134995442148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.23985840</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>Jane Street Group</name>
        <lei>N/A</lei>
        <title>Jane Street Group</title>
        <cusip>47077WAA6</cusip>
        <identifiers>
          <isin value="US47077WAA62"/>
          <other otherDesc="Inhouse Asset ID" value="47077WAA6"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94427.32000000</valUSD>
        <pctVal>0.126920752097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <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>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5-Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="FVM520256"/>
          <other otherDesc="Future Ticker" value="FVM5 Comdty"/>
        </identifiers>
        <balance>116.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>106232.24000000</valUSD>
        <pctVal>0.142787868995</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>U.S. Treasury 5-Year Note</issueTitle>
                <identifiers>
                  <ticker value="FVM5 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-06-30</expDate>
            <notionalAmt>12559718.81000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>106232.24000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>


      <explntrNote note="IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate." noteItem="C.11.f.i.2"/>

      <explntrNote note="Monthly returns presented in B.5.a have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>


    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Allocation Target Shares</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
