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        <fairValLevel>2</fairValLevel>
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        <name>Eversource Energy</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carlyle US CLO Ltd.</name>
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        <name>Nissan Motor Acceptance Co. LLC</name>
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        <name>Bank of Nova Scotia (The)</name>
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        <invCountry>CA</invCountry>
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          <maturityDt>2024-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GFH74"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-26</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CCZ2</cusip>
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          <isin value="US91282CCZ23"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985390.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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      <invstOrSec>
        <name>Nutrien Ltd.</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>Nutrien Ltd.</title>
        <cusip>67077MAC2</cusip>
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          <isin value="US67077MAC29"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>792161.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KBX7</cusip>
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        <balance>1000000.00000000</balance>
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        <valUSD>1000570.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multifamily Structured Pass-Through Certificates, Series K112, Class X1</title>
        <cusip>3137FUZX5</cusip>
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        <curCd>USD</curCd>
        <valUSD>389132.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.43241120</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multifamily Structured Pass-Through Certificates, Series K131, Class X1</title>
        <cusip>3137H2N83</cusip>
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          <isin value="US3137H2N837"/>
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        <balance>7999350.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505055.78000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.72947880</annualizedRt>
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        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2013-SFS, Class A2</title>
        <cusip>12625EAC3</cusip>
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          <isin value="US12625EAC30"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>610714.74000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.98680120</annualizedRt>
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        <name>Energy Transfer Partners LP</name>
        <lei>N/A</lei>
        <title>Energy Transfer Partners LP</title>
        <cusip>75886AAL2</cusip>
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        <balance>750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <name>NatWest Markets plc</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NatWest Markets plc</title>
        <cusip>63906YAB4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.80000000</annualizedRt>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>05579T5G7</cusip>
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        <balance>850000.00000000</balance>
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        <valUSD>926950.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>VMware, Inc.</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMware, Inc.</title>
        <cusip>928563AH8</cusip>
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          <isin value="US928563AH85"/>
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        <balance>850000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Voya CLO Ltd., Series 2021-2A, Class A</title>
        <cusip>92919AAA2</cusip>
        <identifiers>
          <isin value="US92919AAA25"/>
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        <balance>500000.00000000</balance>
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        <valUSD>500124.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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          <annualizedRt>1.28588040</annualizedRt>
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      <invstOrSec>
        <name>Plains All American Pipeline LP</name>
        <lei>N/A</lei>
        <title>Plains All American Pipeline LP</title>
        <cusip>72650RBD3</cusip>
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          <isin value="US72650RBD35"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>549624.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-15</maturityDt>
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        <name>Southern California Edison Co.</name>
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        <name>Palmer Square Loan Funding Ltd.</name>
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        <name>Air Lease Corp.</name>
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        <name>Laboratory Corp. of America Holdings</name>
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        <name>Pinnacle West Capital Corp.</name>
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        <name>Standard Chartered plc</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Boeing Co. (The)</name>
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        <name>Ares XXXIV CLO Ltd.</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>Berry Global, Inc.</name>
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        <name>Regency Centers LP</name>
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        <name>Betony CLO 2 Ltd.</name>
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        <name>Cedar Funding VII CLO Ltd.</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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          <annualizedRt>1.46200000</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>Neuberger Berman Loan Advisers CLO 33 Ltd.</name>
        <lei>549300RVE5T2OYI2H743</lei>
        <title>Neuberger Berman Loan Advisers CLO 33 Ltd., Series 2019-33A, Class BR</title>
        <cusip>64132TAL7</cusip>
        <identifiers>
          <isin value="US64132TAL70"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499998.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.72225080</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>ELFI Graduate Loan Program LLC</name>
        <lei>N/A</lei>
        <title>ELFI Graduate Loan Program LLC, Series 2021-A, Class A</title>
        <cusip>28628BAA6</cusip>
        <identifiers>
          <isin value="US28628BAA61"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398753.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.53000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Apidos CLO XXX</name>
        <lei>N/A</lei>
        <title>Apidos CLO XXX, Series XXXA, Class A2</title>
        <cusip>03768CAG4</cusip>
        <identifiers>
          <isin value="US03768CAG42"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500545.00000000</valUSD>
        <pctVal>0.458912262608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.72225080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625HJT8</cusip>
        <identifiers>
          <isin value="US46625HJT86"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1280532.00000000</valUSD>
        <pctVal>1.174023988777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
        <cusip>86562MBM1</cusip>
        <identifiers>
          <isin value="US86562MBM10"/>
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        <balance>950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>990070.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.69600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Apidos CLO XXXII</name>
        <lei>549300CXPXW83QGWOL98</lei>
        <title>Apidos CLO XXXII, Series 2019-32A, Class A1</title>
        <cusip>03768RAC0</cusip>
        <identifiers>
          <isin value="US03768RAC07"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500206.00000000</valUSD>
        <pctVal>0.458601458870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.45149840</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>BOC Aviation USA Corp.</name>
        <lei>254900QKLTY6MF4Y3P65</lei>
        <title>BOC Aviation USA Corp.</title>
        <cusip>66980P2A6</cusip>
        <identifiers>
          <isin value="US66980P2A66"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450789.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Queens Center Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Queens Center Mortgage Trust, Series 2013-QCA, Class A</title>
        <cusip>74824DAA8</cusip>
        <identifiers>
          <isin value="US74824DAA81"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>517829.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.27500000</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>Sixth Street CLO XVII Ltd.</name>
        <lei>N/A</lei>
        <title>Sixth Street CLO XVII Ltd., Series 2021-17A, Class A</title>
        <cusip>83012FAA6</cusip>
        <identifiers>
          <isin value="US83012FAA66"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300663.90000000</valUSD>
        <pctVal>0.275656235970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.37149920</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>Aircastle Ltd.</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd.</title>
        <cusip>00928QAU5</cusip>
        <identifiers>
          <isin value="US00928QAU58"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402759.41000000</valUSD>
        <pctVal>0.369259970891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2019-IMC, Class A</title>
        <cusip>05608BAA8</cusip>
        <identifiers>
          <isin value="US05608BAA89"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499698.45000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.09000080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BWAY Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BWAY Mortgage Trust, Series 2013-1515, Class A2</title>
        <cusip>05604FAC9</cusip>
        <identifiers>
          <isin value="US05604FAC95"/>
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        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449249.27000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45430000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bayer US Finance II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC</title>
        <cusip>07274NAE3</cusip>
        <identifiers>
          <isin value="US07274NAE31"/>
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        <balance>930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>981827.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dewolf Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Dewolf Park CLO Ltd., Series 2017-1A, Class BR</title>
        <cusip>25211AAG4</cusip>
        <identifiers>
          <isin value="US25211AAG40"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500022.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.57375080</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. II</name>
        <lei>5493005BBCF84ICNQ550</lei>
        <title>GS Mortgage Securities Corp. II, Series 2012-BWTR, Class A</title>
        <cusip>36192RAA0</cusip>
        <identifiers>
          <isin value="US36192RAA05"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505893.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397A29</cusip>
        <identifiers>
          <isin value="US345397A290"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279730.00000000</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>2023-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.08700000</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>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
        <cusip>10373QAW0</cusip>
        <identifiers>
          <isin value="US10373QAW06"/>
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        <balance>730000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>764391.48000000</valUSD>
        <pctVal>0.700813360647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.21600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>Toronto-Dominion Bank (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Suisse AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLB</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-11</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Dow Chemical Co. (The)</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>College Avenue Student Loans LLC</name>
        <lei>N/A</lei>
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          <isin value="US19425AAB08"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Coca-Cola Europacific Partners plc</name>
        <lei>549300LTH67W4GWMRF57</lei>
        <title>Coca-Cola Europacific Partners plc</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-03</maturityDt>
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          <annualizedRt>0.80000000</annualizedRt>
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      <invstOrSec>
        <name>Eastern Energy Gas Holdings LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
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          <isin value="US257375AE56"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
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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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          <maturityDt>2023-11-01</maturityDt>
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          <annualizedRt>3.55000000</annualizedRt>
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      <invstOrSec>
        <name>Magnetite CLO Ltd.</name>
        <lei>549300J3BCFSIZAJJW77</lei>
        <title>Magnetite CLO Ltd., Series 2021-31A, Class A1</title>
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          <isin value="US55952FAA66"/>
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        <balance>400000.00000000</balance>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LSEGA Financing plc</name>
        <lei>2138009YFYTGEHZNNZ09</lei>
        <title>LSEGA Financing plc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avery Dennison Corp.</name>
        <lei>549300PW7VPFCYKLIV37</lei>
        <title>Avery Dennison Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-15</maturityDt>
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      <invstOrSec>
        <name>Ares Finance Co. LLC</name>
        <lei>N/A</lei>
        <title>Ares Finance Co. LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-08</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>CAMB Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class A</title>
        <cusip>12482HAA2</cusip>
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          <isin value="US12482HAA23"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CenterPoint Energy, Inc.</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy, Inc.</title>
        <cusip>15189TAZ0</cusip>
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          <isin value="US15189TAZ03"/>
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        <invCountry>US</invCountry>
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        <name>VEREIT Operating Partnership LP</name>
        <lei>5493005TQOUJE1LCS698</lei>
        <title>VEREIT Operating Partnership LP</title>
        <cusip>03879QAF1</cusip>
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        <balance>600000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175BQ6</cusip>
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        <balance>700000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
        <cusip>60687YBB4</cusip>
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        <balance>1075000.00000000</balance>
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        <valUSD>1081785.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-13</maturityDt>
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      <invstOrSec>
        <name>Silver Creek CLO Ltd.</name>
        <lei>549300LSJSAR2PPV4U78</lei>
        <title>Silver Creek CLO Ltd., Series 2014-1A, Class AR</title>
        <cusip>827551AL6</cusip>
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          <isin value="US827551AL61"/>
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        <balance>492694.42000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.37149920</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OGE Energy Corp.</name>
        <lei>CE5OG6JPOZMDSA0LAQ19</lei>
        <title>OGE Energy Corp.</title>
        <cusip>670837AC7</cusip>
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          <isin value="US670837AC70"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>998132.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.70300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multifamily Structured Pass-Through Certificates, Series K122, Class X1</title>
        <cusip>3137F82T9</cusip>
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          <isin value="US3137F82T94"/>
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        <balance>4095932.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280977.71000000</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>2030-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.88277040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Regatta XV Funding Ltd.</name>
        <lei>N/A</lei>
        <title>Regatta XV Funding Ltd., Series 2018-4A, Class A1</title>
        <cusip>75888RAC3</cusip>
        <identifiers>
          <isin value="US75888RAC34"/>
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        <balance>465000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>465669.14000000</valUSD>
        <pctVal>0.426937195785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.35388080</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multifamily Structured Pass-Through Certificates, Series K120, Class X1</title>
        <cusip>3137F72R5</cusip>
        <identifiers>
          <isin value="US3137F72R56"/>
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        <balance>9235251.42500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>729463.88000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.03889160</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cedar Funding XII CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Cedar Funding XII CLO Ltd., Series 2020-12A, Class A</title>
        <cusip>15033TAB1</cusip>
        <identifiers>
          <isin value="US15033TAB17"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400126.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.39388040</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>JPMorgan U.S. Government Money Market Fund</name>
        <lei>549300NQ5E5B7ZV4T516</lei>
        <title>JPMorgan U.S. Government Money Market Fund, IM Class</title>
        <cusip>4812C2270</cusip>
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          <other otherDesc="Inhouse Asset ID" value="917994519"/>
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        <balance>442032.67000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>442032.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>12594KAA0</cusip>
        <identifiers>
          <isin value="US12594KAA07"/>
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        <balance>935000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>993268.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Skyworks Solutions, Inc.</name>
        <lei>549300WZ3ORQ2BVKBD96</lei>
        <title>Skyworks Solutions, Inc.</title>
        <cusip>83088MAJ1</cusip>
        <identifiers>
          <isin value="US83088MAJ18"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>900127.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CCY5</cusip>
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          <isin value="US91282CCY57"/>
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        <balance>1855000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1829203.91000000</valUSD>
        <pctVal>1.677060214586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
        <title>Navient Private Education Refi Loan Trust, Series 2020-FA, Class A</title>
        <cusip>63941XAA5</cusip>
        <identifiers>
          <isin value="US63941XAA54"/>
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        <balance>114345.23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114205.28000000</valUSD>
        <pctVal>0.104706277051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.22000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARES L CLO Ltd.</name>
        <lei>549300S7Y78W7UJHZZ39</lei>
        <title>ARES L CLO Ltd., Series 2018-50A, Class AR</title>
        <cusip>04018LAJ4</cusip>
        <identifiers>
          <isin value="US04018LAJ44"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500178.00000000</valUSD>
        <pctVal>0.458575787765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.17375120</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>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
        <cusip>494550BS4</cusip>
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          <isin value="US494550BS48"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>795399.87000000</valUSD>
        <pctVal>0.729242633569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Metropolitan Life Global Funding I</name>
        <lei>635400MMSOCXNNNZDZ82</lei>
        <title>Metropolitan Life Global Funding I</title>
        <cusip>59217GCT4</cusip>
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          <isin value="US59217GCT40"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>413455.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
        <cusip>3133EM6C1</cusip>
        <identifiers>
          <isin value="US3133EM6C17"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1482826.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.73000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Humana, Inc.</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>Humana, Inc.</title>
        <cusip>444859BP6</cusip>
        <identifiers>
          <isin value="US444859BP69"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>998929.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.65000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Equinor ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>Equinor ASA</title>
        <cusip>29446MAJ1</cusip>
        <identifiers>
          <isin value="US29446MAJ18"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126770.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Battalion CLO 17 Ltd.</name>
        <lei>549300QQUW46V6EB1N30</lei>
        <title>Battalion CLO 17 Ltd., Series 2021-17A, Class A1</title>
        <cusip>07133PAA7</cusip>
        <identifiers>
          <isin value="US07133PAA75"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250700.75000000</valUSD>
        <pctVal>0.229848761689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.39150080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>CAL Funding IV Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US12807CAA18"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
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          <isin value="US3133EMW408"/>
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        <balance>1500000.00000000</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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          <maturityDt>2030-07-26</maturityDt>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.85000000</annualizedRt>
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      <invstOrSec>
        <name>iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF</name>
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        <title>iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF</title>
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          <isin value="US4642886463"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BB Trust</name>
        <lei>N/A</lei>
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        <cusip>05490AAA1</cusip>
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          <isin value="US05490AAA16"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-05</maturityDt>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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          <isin value="US05971KAE91"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207849.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.74600000</annualizedRt>
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      <invstOrSec>
        <name>Aligned Data Centers Issuer LLC</name>
        <lei>N/A</lei>
        <title>Aligned Data Centers Issuer LLC, Series 2021-1A, Class A2</title>
        <cusip>01627AAA6</cusip>
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          <isin value="US01627AAA60"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-15</maturityDt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ABS5</cusip>
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          <isin value="US44891ABS50"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>731383.64000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.30000000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
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          <isin value="US53944YAN31"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
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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>Variable</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280AU3</cusip>
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          <isin value="US404280AU33"/>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1165599.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multifamily Structured Pass-Through Certificates, Series K108, Class X1</title>
        <cusip>3137FTBP1</cusip>
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          <isin value="US3137FTBP18"/>
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        <curCd>USD</curCd>
        <valUSD>718311.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.69029000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
        <lei>549300KSCKXTOBY0IP86</lei>
        <title>Voya CLO Ltd., Series 2019-1A, Class BR</title>
        <cusip>92917NAL2</cusip>
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          <isin value="US92917NAL29"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>496814.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397WW9</cusip>
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          <isin value="US345397WW97"/>
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        <balance>600000.00000000</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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          <maturityDt>2024-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.66400000</annualizedRt>
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      <invstOrSec>
        <name>Magnetite XVIII Ltd.</name>
        <lei>549300BDVLRWS2SODX97</lei>
        <title>Magnetite XVIII Ltd., Series 2016-18A, Class AR</title>
        <cusip>55953TAJ6</cusip>
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          <isin value="US55953TAJ60"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>250005.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
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        <name>Siemens Financieringsmaatschappij NV</name>
        <lei>TAFO772JB70PDRN5VS48</lei>
        <title>Siemens Financieringsmaatschappij NV</title>
        <cusip>82620KAX1</cusip>
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          <isin value="US82620KAX19"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>796731.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.65000000</annualizedRt>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ACA1</cusip>
        <identifiers>
          <isin value="US87264ACA16"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148751.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
        <cusip>02665WCZ2</cusip>
        <identifiers>
          <isin value="US02665WCZ23"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985988.99000000</valUSD>
        <pctVal>0.903979538918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Carlyle Global Market Strategies CLO Ltd.</name>
        <lei>6354006XBJTNRUJOLM20</lei>
        <title>Carlyle Global Market Strategies CLO Ltd., Series 2013-3A, Class A2R</title>
        <cusip>14310GAS9</cusip>
        <identifiers>
          <isin value="US14310GAS93"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>599715.60000000</valUSD>
        <pctVal>0.549834366375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>College Ave Student Loans LLC</name>
        <lei>N/A</lei>
        <title>College Ave Student Loans LLC, Series 2021-A, Class A2</title>
        <cusip>19424KAB9</cusip>
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          <isin value="US19424KAB98"/>
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        <balance>417045.57350000</balance>
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        <curCd>USD</curCd>
        <valUSD>411411.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.60000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Vibrant CLO X Ltd.</name>
        <lei>N/A</lei>
        <title>Vibrant CLO X Ltd., Series 2018-10A, Class A1</title>
        <cusip>92558KAA6</cusip>
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          <isin value="US92558KAA60"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498434.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-20</maturityDt>
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      <invstOrSec>
        <name>Pioneer Natural Resources Co.</name>
        <lei>FY8JBF7CCL2VE4F1B628</lei>
        <title>Pioneer Natural Resources Co.</title>
        <cusip>723787AU1</cusip>
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          <isin value="US723787AU18"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-15</maturityDt>
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          <annualizedRt>0.55000000</annualizedRt>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2019-IMC, Class B</title>
        <cusip>05608BAG5</cusip>
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          <isin value="US05608BAG59"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-15</maturityDt>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
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          <isin value="US842400HB27"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>626387.66000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co., Series F</title>
        <cusip>233331BG1</cusip>
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          <isin value="US233331BG16"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197499.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.05000000</annualizedRt>
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      <invstOrSec>
        <name>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>Steel Dynamics, Inc.</title>
        <cusip>858119BL3</cusip>
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          <isin value="US858119BL37"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128796.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XDG8</cusip>
        <identifiers>
          <isin value="US37045XDG88"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>748389.61000000</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>2024-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.05000000</annualizedRt>
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      <invstOrSec>
        <name>Vantage Data Centers LLC</name>
        <lei>5493000RL8X7WTQ7HO20</lei>
        <title>Vantage Data Centers LLC, Series 2020-1A, Class A2</title>
        <cusip>92212KAB2</cusip>
        <identifiers>
          <isin value="US92212KAB26"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345982.39000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2020-B, Class A1A</title>
        <cusip>78449XAA0</cusip>
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          <isin value="US78449XAA00"/>
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        <balance>0.08580000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.29000000</annualizedRt>
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        <name>Aqua Finance Trust</name>
        <lei>N/A</lei>
        <title>Aqua Finance Trust, Series 2020-AA, Class A</title>
        <cusip>038413AA8</cusip>
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          <isin value="US038413AA82"/>
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        <balance>469861.94000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Notes</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="TYZ1COS"/>
          <other otherDesc="Future Ticker" value="TYZ1 Comdty"/>
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        <balance>-47.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Discovery Communications LLC</name>
        <lei>L2Z2MO2EQURH3BREWI15</lei>
        <title>Discovery Communications LLC</title>
        <cusip>25470DAM1</cusip>
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          <isin value="US25470DAM11"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1325700.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
        <cusip>3130APBB0</cusip>
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          <isin value="US3130APBB02"/>
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        <balance>975000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>964154.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62000000</annualizedRt>
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      <invstOrSec>
        <name>ELFI Graduate Loan Program LLC</name>
        <lei>N/A</lei>
        <title>ELFI Graduate Loan Program LLC, Series 2020-A, Class A</title>
        <cusip>26857LAA0</cusip>
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          <isin value="US26857LAA08"/>
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        <balance>0.04500000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.04000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.73000000</annualizedRt>
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      <invstOrSec>
        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
        <cusip>3133EMW32</cusip>
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          <isin value="US3133EMW325"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1402664.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.70000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Palmer Square CLO Ltd.</name>
        <lei>549300PACXK2KP6J2T91</lei>
        <title>Palmer Square CLO Ltd., Series 2015-2A, Class A2R2</title>
        <cusip>69689CAY2</cusip>
        <identifiers>
          <isin value="US69689CAY21"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500286.50000000</valUSD>
        <pctVal>0.458675263297</pctVal>
        <payoffProfile>Long</payoffProfile>
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      <invstOrSec>
        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Private Education Refi Loan Trust</name>
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        <name>AbbVie, Inc.</name>
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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>Ralph Lauren Corp.</name>
        <lei>HO1QNWM0IXBZ0QSMMO20</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FFCB</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>OZLM VI Ltd.</name>
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          <isin value="US67108LAW37"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cook Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Cook Park CLO Ltd., Series 2018-1A, Class B</title>
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        <name>Aptiv Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Schlumberger Holdings Corp.</name>
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        <name>N/A</name>
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        <name>Battalion CLO Ltd.</name>
        <lei>549300EOF4JL75TYXX49</lei>
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          <isin value="US07134WAA18"/>
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        <name>MVW Owner Trust</name>
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        <name>Romark CLO IV Ltd.</name>
        <lei>549300HD9K8XL8QM2Z46</lei>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>Aqua Finance Trust</name>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
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        <title>Verizon Communications, Inc.</title>
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        <name>International Bank for Reconstruction &amp; Development</name>
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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>Neuberger Berman CLO XIV Ltd.</name>
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        <cusip>64129JBG4</cusip>
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          <isin value="US64129JBG40"/>
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        <valUSD>500088.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIG CLO LLC</name>
        <lei>N/A</lei>
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        <cusip>00140WAU4</cusip>
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          <isin value="US00140WAU45"/>
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        <valUSD>600175.20000000</valUSD>
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      <invstOrSec>
        <name>Elmwood CLO VI Ltd.</name>
        <lei>N/A</lei>
        <title>Elmwood CLO VI Ltd., Series 2020-3A, Class AR</title>
        <cusip>29001VAL3</cusip>
        <identifiers>
          <isin value="US29001VAL36"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500195.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>1.28374920</annualizedRt>
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      <invstOrSec>
        <name>WFLD Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WFLD Mortgage Trust, Series 2014-MONT, Class A</title>
        <cusip>92939GAA5</cusip>
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          <isin value="US92939GAA58"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>311908.89000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75480000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YEA9</cusip>
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          <isin value="US61747YEA91"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1088169.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.79000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Neuberger Berman Loan Advisers CLO 37 Ltd.</name>
        <lei>5493006JG853WBZS5J73</lei>
        <title>Neuberger Berman Loan Advisers CLO 37 Ltd., Series 2020-37A, Class BR</title>
        <cusip>64133GAT7</cusip>
        <identifiers>
          <isin value="US64133GAT76"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500091.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-20</maturityDt>
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          <annualizedRt>1.58150160</annualizedRt>
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      <invstOrSec>
        <name>Aon plc</name>
        <lei>635400FALWQYX5E6QC64</lei>
        <title>Aon plc</title>
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        <curCd>USD</curCd>
        <valUSD>556525.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Houston Galleria Mall Trust</name>
        <lei>N/A</lei>
        <title>Houston Galleria Mall Trust, Series 2015-HGLR, Class A1A1</title>
        <cusip>44217NAA4</cusip>
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        <balance>500000.00000000</balance>
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          <annualizedRt>3.08656300</annualizedRt>
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        <name>BMW US Capital LLC</name>
        <lei>KK5MZM9DIXLXZL9DZL15</lei>
        <title>BMW US Capital LLC</title>
        <cusip>05565EAW5</cusip>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>988491.72000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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        <name>National Retail Properties, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>National Retail Properties, Inc.</title>
        <cusip>637417AG1</cusip>
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          <isin value="US637417AG16"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1011969.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Oaktree CLO Ltd.</name>
        <lei>635400SBDDFQR1OHEJ54</lei>
        <title>Oaktree CLO Ltd., Series 2015-1A, Class A2BR</title>
        <cusip>67389XAM9</cusip>
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          <isin value="US67389XAM92"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500137.00000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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          <annualizedRt>1.48150080</annualizedRt>
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        <name>FFCB</name>
        <lei>N/A</lei>
        <title>FFCB</title>
        <cusip>3133ENBX7</cusip>
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          <isin value="US3133ENBX76"/>
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        <balance>550000.00000000</balance>
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        <valUSD>548367.20000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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        <name>Brighthouse Financial Global Funding</name>
        <lei>549300BLFX3KJ2IFOA78</lei>
        <title>Brighthouse Financial Global Funding</title>
        <cusip>10921U2A5</cusip>
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          <isin value="US10921U2A59"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>124709.41000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2024-04-12</maturityDt>
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          <annualizedRt>1.00000000</annualizedRt>
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      <invstOrSec>
        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
        <cusip>62954WAA3</cusip>
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          <isin value="US62954WAA36"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>749081.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37300000</annualizedRt>
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      <invstOrSec>
        <name>CenterPoint Energy Resources Corp.</name>
        <lei>2JADVB0458J06WCD4N56</lei>
        <title>CenterPoint Energy Resources Corp.</title>
        <cusip>15189WAM2</cusip>
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          <isin value="US15189WAM29"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>373953.28000000</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>2023-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>AIG Global Funding</name>
        <lei>54930057MDZ7KOVOTV71</lei>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Flex Ltd.</name>
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        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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      <invstOrSec>
        <name>FHLMC</name>
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        <cusip>3137FRZC8</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
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          <isin value="US02665WDS70"/>
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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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          <maturityDt>2024-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.55000000</annualizedRt>
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      <invstOrSec>
        <name>Triton Container Finance VIII LLC</name>
        <lei>N/A</lei>
        <title>Triton Container Finance VIII LLC, Series 2020-1A, Class A</title>
        <cusip>89680HAA0</cusip>
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          <isin value="US89680HAA05"/>
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        <curCd>USD</curCd>
        <valUSD>680550.01000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-20</maturityDt>
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        <name>BFLD Trust</name>
        <lei>N/A</lei>
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        <cusip>05554BAA2</cusip>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>699788.67000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>7-Eleven, Inc.</name>
        <lei>549300K23JPL0SS3LB18</lei>
        <title>7-Eleven, Inc.</title>
        <cusip>817826AB6</cusip>
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          <isin value="US817826AB63"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>695186.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.80000000</annualizedRt>
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      <invstOrSec>
        <name>Principal Life Global Funding II</name>
        <lei>635400WSLKBQWSOIIT41</lei>
        <title>Principal Life Global Funding II</title>
        <cusip>74256LER6</cusip>
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          <isin value="US74256LER69"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>350595.99000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.42894360</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CCS8</cusip>
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          <isin value="US91282CCS89"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>728789.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAD4</cusip>
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          <isin value="US89788MAD48"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>172470.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.26700000</annualizedRt>
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      <invstOrSec>
        <name>Neuberger Berman Loan Advisers CLO 32 Ltd.</name>
        <lei>5493007YBEOXQIHH3C54</lei>
        <title>Neuberger Berman Loan Advisers CLO 32 Ltd., Series 2019-32A, Class BR</title>
        <cusip>64132DAL2</cusip>
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          <isin value="US64132DAL29"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498392.00000000</valUSD>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-20</maturityDt>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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      <invstOrSec>
        <name>Ares XXXVIII CLO Ltd.</name>
        <lei>6354004TAEXDOTEJZN31</lei>
        <title>Ares XXXVIII CLO Ltd., Series 2015-38A, Class BR</title>
        <cusip>04015UAJ7</cusip>
        <identifiers>
          <isin value="US04015UAJ79"/>
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        <balance>500000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-20</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Bonds</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="UXYZ1CM"/>
          <other otherDesc="Future Ticker" value="UXYZ1 Comdty"/>
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        <balance>-29.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Global SC Finance SRL</name>
        <lei>549300JZYOMTAKV6RT73</lei>
        <title>Global SC Finance SRL, Series 2021-2A, Class A</title>
        <cusip>37959PAG2</cusip>
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          <isin value="US37959PAG28"/>
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        <balance>392569.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>390738.30000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-17</maturityDt>
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          <annualizedRt>1.95000000</annualizedRt>
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      <invstOrSec>
        <name>American Campus Communities Operating Partnership LP</name>
        <lei>RDKVCX5HITZ2GPIR7153</lei>
        <title>American Campus Communities Operating Partnership LP</title>
        <cusip>024836AE8</cusip>
        <identifiers>
          <isin value="US024836AE87"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>821963.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650CF5</cusip>
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          <isin value="US126650CF56"/>
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        <balance>920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>973519.13000000</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>2024-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Viatris, Inc.</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris, Inc.</title>
        <cusip>91533BAA8</cusip>
        <identifiers>
          <isin value="US91533BAA89"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>351209.82000000</valUSD>
        <pctVal>0.321998008463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-11-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MAINSTAY FUNDS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Jack Benintende</ncom:signature>
      <ncom:signerName>Jack Benintende</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
