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        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>WAMU Mortgage Pass-Through Cer</name>
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        <name>JP Morgan Chase Commercial Mor</name>
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        <name>Toorak Mortgage Corp.</name>
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        <name>Freddie Mac - STACR</name>
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        <name>DK Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>New York Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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          <isin value="US20754CAF68"/>
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      <invstOrSec>
        <name>Deutsche Mortgage Securities,</name>
        <lei>N/A</lei>
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          <isin value="US25157GAT94"/>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2021-GR2</title>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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      <invstOrSec>
        <name>New Residential Mortgage Loan</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust 2019-6</title>
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          <isin value="US64828GAH39"/>
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          <maturityDt>2059-09-25</maturityDt>
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      <invstOrSec>
        <name>SEB Funding LLC</name>
        <lei>N/A</lei>
        <title>SEB Funding LLC</title>
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        <name>PRP Advisors, LLC</name>
        <lei>N/A</lei>
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          <couponKind>Variable</couponKind>
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        <name>Golub Capital Partners CLO, LT</name>
        <lei>N/A</lei>
        <title>Golub Capital Partners CLO 77 B Ltd</title>
        <cusip>38180TAA6</cusip>
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        <invCountry>KY</invCountry>
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        <name>MASTR Reperforming Loan Trust</name>
        <lei>N/A</lei>
        <title>MASTR Reperforming Loan Trust 2005-1</title>
        <cusip>576436AU3</cusip>
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      <invstOrSec>
        <name>280 Park Avenue Mortgage Trust</name>
        <lei>N/A</lei>
        <title>280 Park Avenue 2017-280P Mortgage Trust</title>
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          <isin value="US90205FAQ37"/>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <title>Nomura Securities Inc</title>
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      <invstOrSec>
        <name>Natixis Commercial Mortgage Se</name>
        <lei>N/A</lei>
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        <name>Morgan Stanley ReRemic Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Resecuritization Trust 2015-R2</title>
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      <invstOrSec>
        <name>KNDR Trust 2021-KIND</name>
        <lei>N/A</lei>
        <title>KIND Trust 2021-KIND</title>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Residential Funding Mtg Sec I</name>
        <lei>N/A</lei>
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          <isin value="US74957XAM74"/>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US30711XBQ60"/>
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      <invstOrSec>
        <name>Natixis Commercial Mortgage Se</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust 2019-FAME</title>
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          <isin value="US63873VAN38"/>
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      <invstOrSec>
        <name>SMB Private Education Loan Tru</name>
        <lei>549300XC4C7GRVLU6076</lei>
        <title>SMB Private Education Loan Trust 2014-A</title>
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        <balance>6875.00000000</balance>
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        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Provident Bank Home Equity Loa</name>
        <lei>N/A</lei>
        <title>Provident Home Equity Loan Trust 2000-2</title>
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          <isin value="US743844DA75"/>
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        <balance>435249.82000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>New Residential Mortgage Loan</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust 2019-NQM4</title>
        <cusip>64828EAF2</cusip>
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          <isin value="US64828EAF25"/>
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        <balance>1608000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1485696.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2059-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.12252200</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2022-LP2</title>
        <cusip>05610HAN3</cusip>
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          <isin value="US05610HAN35"/>
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        <balance>805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>804469.59000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.41756000</annualizedRt>
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      <invstOrSec>
        <name>Adjustable Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Adjustable Rate Mortgage Trust 2005-7</title>
        <cusip>007036MT0</cusip>
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          <isin value="US007036MT06"/>
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        <curCd>USD</curCd>
        <valUSD>84796.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mor</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust Series 2005-4</title>
        <cusip>863579MP0</cusip>
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          <isin value="US863579MP09"/>
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        <balance>84340.25000000</balance>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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        <title>Nomura Securities Inc</title>
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        <name>PRKCM Trust</name>
        <lei>N/A</lei>
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        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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      <invstOrSec>
        <name>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
        <title>Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-2</title>
        <cusip>35563PKR9</cusip>
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          <isin value="US35563PKR90"/>
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        <balance>681000.00000000</balance>
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        <debtSec>
          <maturityDt>2058-08-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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        <balance>-1076000.00000000</balance>
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      <invstOrSec>
        <name>Washington Mutual Mortgage Pas</name>
        <lei>N/A</lei>
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        <name>NYT Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BF 2019-NYT Mortgage Trust</title>
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        <name>J.P. Morgan Alternative Loan T</name>
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        <name>FULL HOUSE RESORTS INC</name>
        <lei>5493009DKIWW0H901Y82</lei>
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        <name>Bank</name>
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        <name>HSI Asset Loan Obligation</name>
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        <name>Credit Suisse First Boston Mor</name>
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        <name>Residential Accredit Loans, In</name>
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        <lei>N/A</lei>
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        <name>Loanpal Solar Loan Ltd.</name>
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        <name>Toorak Mortgage Corp.</name>
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        <name>Western Asset Premier Institutional Government Reserves</name>
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        <name>Atrium Hotel Portfolio Trust</name>
        <lei>N/A</lei>
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        <name>American Home Mortgage Investm</name>
        <lei>N/A</lei>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <name>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
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        <name>NRZ Excess Spread Collateraliz</name>
        <lei>N/A</lei>
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        <name>PRKCM Trust</name>
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        <name>Residential Accredit Loans, In</name>
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        <name>IndyMac INDX Mortgage Loan Tru</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493009ZFZYH4FRCW638</lei>
        <title>Freddie Mac STACR Trust 2019-FTR3</title>
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          <isin value="US35565EAE23"/>
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        <curCd>USD</curCd>
        <valUSD>1311776.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2047-09-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC Investment Corp</title>
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          <isin value="US00123Q8722"/>
          <ticker value="AGNC"/>
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        <balance>54778.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1375475.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="RP1011590"/>
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        <curCd>USD</curCd>
        <valUSD>-230000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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            <repurchaseCollateral>
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              <collateralVal>287312.42000000</collateralVal>
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              <invstCat>AMBS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BFLD Trust</name>
        <lei>N/A</lei>
        <title>BFLD Commercial Mortgage Trust 2024-UNIV</title>
        <cusip>08861RAJ0</cusip>
        <identifiers>
          <isin value="US08861RAJ05"/>
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        <balance>1170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1172621.85000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.95129000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>30711XCR3</cusip>
        <identifiers>
          <isin value="US30711XCR35"/>
          <other otherDesc="SEDOL" value="BD9Y810"/>
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        <balance>1923434.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2069630.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>16.16965000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="RP1012116"/>
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        <balance>-422000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-422000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>745445.54000000</principalAmt>
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              <collateralVal>591767.29000000</collateralVal>
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              <invstCat>AMBS</invstCat>
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        <securityLending>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="RP1011079"/>
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        <curCd>USD</curCd>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <invstCat>AMBS</invstCat>
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      <invstOrSec>
        <name>Residential Accredit Loans, In</name>
        <lei>N/A</lei>
        <title>RALI Series 2006-QO2 Trust</title>
        <cusip>761118VY1</cusip>
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          <isin value="US761118VY19"/>
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        <balance>165246.43000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28266.21000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.87368000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="RP1012398"/>
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        <curCd>USD</curCd>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF 2021-KF117 Mortgage Trust</title>
        <cusip>30320YAE5</cusip>
        <identifiers>
          <isin value="US30320YAE59"/>
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        <balance>560587.82000000</balance>
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        <curCd>USD</curCd>
        <valUSD>513340.50000000</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>2031-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.71155000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Saluda Grade Alternative Mortg</name>
        <lei>N/A</lei>
        <title>Saluda Grade Alternative Mortgage Trust 2024-RTL4</title>
        <cusip>79584CAB7</cusip>
        <identifiers>
          <isin value="US79584CAB72"/>
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        <balance>1770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1771124.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Lehman Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Lehman Mortgage Trust 2006-3</title>
        <cusip>52520CAK1</cusip>
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          <isin value="US52520CAK18"/>
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        <balance>3962265.99000000</balance>
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        <curCd>USD</curCd>
        <valUSD>369322.81000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.96632000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>549300EUJICRX5L38Y52</lei>
        <title>Freddie Mac STACR Trust 2019-HQA3</title>
        <cusip>35564XBE0</cusip>
        <identifiers>
          <isin value="US35564XBE04"/>
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        <balance>1680000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1904880.10000000</valUSD>
        <pctVal>1.402199428053</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.91965000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2007-3T1</title>
        <cusip>02149VAU3</cusip>
        <identifiers>
          <isin value="US02149VAU35"/>
          <other otherDesc="SEDOL" value="BZ0BRG2"/>
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        <balance>14386.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14358.07000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>213800RZ8QGNZ38DSP77</lei>
        <title>Verus Securitization Trust 2024-8</title>
        <cusip>92540PAE8</cusip>
        <identifiers>
          <isin value="US92540PAE88"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1753298.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.03200000</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>
      <invstOrSec>
        <name>Bayview Financial Asset Trust</name>
        <lei>N/A</lei>
        <title>Bayview Financial Asset Trust 2007-SSR1</title>
        <cusip>07325QAD7</cusip>
        <identifiers>
          <isin value="US07325QAD79"/>
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        <balance>615551.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>617792.83000000</valUSD>
        <pctVal>0.454762876089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>549300YG8OJES76WL398</lei>
        <title>STACR Trust 2018-HRP2</title>
        <cusip>35564ACC3</cusip>
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          <isin value="US35564ACC36"/>
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        <balance>3530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4408890.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>14.91965000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
        <title>Freddie Mac Seasoned Credit Risk Transfer Trust Series 2024-1</title>
        <cusip>35563PW21</cusip>
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          <isin value="US35563PW214"/>
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        <balance>1540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1301166.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Banc of America Funding Corpor</name>
        <lei>N/A</lei>
        <title>Banc of America Funding 2006-D Trust</title>
        <cusip>058933AE2</cusip>
        <identifiers>
          <isin value="US058933AE20"/>
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        <balance>26541.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24385.26000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.49899600</annualizedRt>
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      <invstOrSec>
        <name>Home Re Ltd</name>
        <lei>N/A</lei>
        <title>Home RE 2023-1 Ltd</title>
        <cusip>43731BAC5</cusip>
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          <isin value="US43731BAC54"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1073003.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <debtSec>
          <maturityDt>2033-10-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BSREP Commercial Mortgage Trus</name>
        <lei>N/A</lei>
        <title>BSREP Commercial Mortgage Trust 2021-DC</title>
        <cusip>05591UAQ0</cusip>
        <identifiers>
          <isin value="US05591UAQ04"/>
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        <balance>3013096.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690376.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.92648000</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>Balboa Bay Loan Funding Ltd</name>
        <lei>254900FG1DS8PNX30R63</lei>
        <title>Balboa Bay Loan Funding 2024-2 Ltd</title>
        <cusip>05765BAA7</cusip>
        <identifiers>
          <isin value="US05765BAA70"/>
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        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293777.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.06571000</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>Cent CLO LP</name>
        <lei>2549006YWAD6BJI1C841</lei>
        <title>Columbia Cent CLO 35 Ltd</title>
        <cusip>19739RAJ7</cusip>
        <identifiers>
          <isin value="US19739RAJ77"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501875.00000000</valUSD>
        <pctVal>0.369434715578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.01000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Washington Mutual Mortgage Pas</name>
        <lei>N/A</lei>
        <title>Washington Mutual Mortgage Pass-Through Certificates WMALT Ser 2006-AR10 Trust</title>
        <cusip>93935YAA8</cusip>
        <identifiers>
          <isin value="US93935YAA82"/>
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        <balance>222825.62000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110025.72000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.63368000</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>Stonepeak</name>
        <lei>N/A</lei>
        <title>Stonepeak 2021-1 ABS</title>
        <cusip>78433XAC4</cusip>
        <identifiers>
          <isin value="US78433XAC48"/>
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        <balance>575998.31000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>549192.96000000</valUSD>
        <pctVal>0.404265892852</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.82100000</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>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
        <title>Freddie Mac Seasoned Credit Risk Transfer Trust Series 2018-2</title>
        <cusip>35563PFX2</cusip>
        <identifiers>
          <isin value="US35563PFX24"/>
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        <balance>3366873.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1330116.64000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.55364100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="RP1012253"/>
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        <balance>-1342000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1342000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <invstCat>AMBS</invstCat>
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        <securityLending>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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          <other otherDesc="INTERNAL" value="RP1011585"/>
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        <balance>-1029000.00000000</balance>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>
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          <transCat>Reverse repurchase</transCat>
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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Tru</name>
        <lei>N/A</lei>
        <title>IndyMac INDX Mortgage Loan Trust 2006-AR11</title>
        <cusip>45661KAA8</cusip>
        <identifiers>
          <isin value="US45661KAA88"/>
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        <balance>195228.89000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151028.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CoreVest American Finance Ltd</name>
        <lei>N/A</lei>
        <title>CAFL 2024-RTL1 Issuer LLC</title>
        <cusip>12770DAB0</cusip>
        <identifiers>
          <isin value="US12770DAB01"/>
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        <balance>1460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1479102.64000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.68000000</annualizedRt>
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      <invstOrSec>
        <name>Aegis Asset Backed Securities</name>
        <lei>N/A</lei>
        <title>Aegis Asset Backed Securities Trust 2005-3</title>
        <cusip>00764MFT9</cusip>
        <identifiers>
          <isin value="US00764MFT99"/>
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        <balance>3460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2938964.83000000</valUSD>
        <pctVal>2.163398527653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16868000</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>
      <invstOrSec>
        <name>280 Park Avenue Mortgage Trust</name>
        <lei>N/A</lei>
        <title>280 Park Avenue 2017-280P Mortgage Trust</title>
        <cusip>90205FAN0</cusip>
        <identifiers>
          <isin value="US90205FAN06"/>
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        <balance>3430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3306508.00000000</valUSD>
        <pctVal>2.433950371183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.73089000</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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        <name>Hartwick Park CLO, Ltd.</name>
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        <name>BX Trust</name>
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      <invstOrSec>
        <name>Freddie Mac Whole Loan Securit</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2006-J8</title>
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      </invstOrSec>
      <invstOrSec>
        <name>First Horizon Alternative Mort</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SOHO Trust 2021-SOHO</name>
        <lei>N/A</lei>
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          <isin value="US83410JAJ79"/>
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      <invstOrSec>
        <name>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
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          <isin value="US35563PJ591"/>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mor</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust Series 2005-7</title>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136AATJ4</cusip>
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          <isin value="US3136AATJ47"/>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>EASY 2025-RTL1</name>
        <lei>N/A</lei>
        <title>Easy Street Mortgage Loan Trust 2025-RTL1</title>
        <cusip>27786FAB5</cusip>
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          <isin value="US27786FAB58"/>
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        <balance>1010000.00000000</balance>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
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      <invstOrSec>
        <name>Loanpal Solar Loan 2020-3 Ltd</name>
        <lei>N/A</lei>
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        <name>Bayview Opportunity Master Fun</name>
        <lei>254900S53K9VTUR1UX42</lei>
        <title>Bayview Opportunity Master Fund VII 2024-CAR1 LLC</title>
        <cusip>07336QAE2</cusip>
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        <name>Residential Asset Securitizati</name>
        <lei>N/A</lei>
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        <cusip>761120AA2</cusip>
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          <isin value="US761120AA26"/>
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        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2006-HY10</title>
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        <name>Multifamily Structured Credit</name>
        <lei>N/A</lei>
        <title>Freddie Mac Multifamily Structured Credit Risk</title>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <title>Nomura Securities Inc</title>
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        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR Securitized Participation Interests Trust 2017-SPI1</title>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley Mortgage Loan T</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Mortgage Loan Trust 2006-8AR</title>
        <cusip>61749LAB7</cusip>
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        <balance>186611.36000000</balance>
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        <name>Wells Fargo Commercial Mortgag</name>
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        <name>Structured Adjustable Rate Mor</name>
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        <name>Multifamily Connecticut Avenue</name>
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        <name>Wells Fargo Commercial Mortgag</name>
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        <name>JP Morgan Chase Commercial Mor</name>
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        <name>Chase Mortgage Finance Corpora</name>
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        <name>IndyMac INDX Mortgage Loan Tru</name>
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        <name>Countrywide Alternative Loan T</name>
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        <name>Washington Mutual Mortgage Pas</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
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        <name>Nelnet Student Loan Trust</name>
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        <name>Credit Suisse Mortgage Trust</name>
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        <name>Washington Mutual Mortgage Pas</name>
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        <name>Countrywide Home Loans</name>
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        <name>Freddie Mac - STACR</name>
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        <name>IndyMac INDX Mortgage Loan Tru</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Magnetite CLO Ltd</name>
        <lei>529900728SHVCI48J015</lei>
        <title>Magnetite XXXIX Ltd</title>
        <cusip>559923AE7</cusip>
        <identifiers>
          <isin value="US559923AE78"/>
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        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>276905.36000000</valUSD>
        <pctVal>0.203832533825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.18177000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAAC Series</name>
        <lei>N/A</lei>
        <title>RAAC Series 2007-SP1 Trust</title>
        <cusip>74978AAF7</cusip>
        <identifiers>
          <isin value="US74978AAF75"/>
        </identifiers>
        <balance>1426480.69000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1110037.20000000</valUSD>
        <pctVal>0.817108398034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.93368000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BHMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BHMS 2018-MZB</title>
        <cusip>05549GAS0</cusip>
        <identifiers>
          <isin value="US05549GAS03"/>
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        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>648197.29000000</valUSD>
        <pctVal>0.477143873414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.24527000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2025-SPOT</title>
        <cusip>12433FAJ7</cusip>
        <identifiers>
          <isin value="US12433FAJ75"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1244535.13000000</valUSD>
        <pctVal>0.916113537790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.00194000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC 2021-INV2 Trust</title>
        <cusip>12659TBW4</cusip>
        <identifiers>
          <isin value="US12659TBW45"/>
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        <balance>25803298.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>732901.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bear Stearns Alt-A Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ALT-A Trust 2005-9</title>
        <cusip>07386HYF2</cusip>
        <identifiers>
          <isin value="US07386HYF27"/>
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        <balance>116468.09000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73438.48000000</valUSD>
        <pctVal>0.054058727713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.67936900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CoreVest American Finance Ltd</name>
        <lei>N/A</lei>
        <title>CAFL 2023-RTL1 Issuer LLC</title>
        <cusip>124762AB1</cusip>
        <identifiers>
          <isin value="US124762AB11"/>
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        <balance>1770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1794573.09000000</valUSD>
        <pctVal>1.321001442767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.30000000</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>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="RP1012240"/>
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        <balance>-249000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-249000.00000000</valUSD>
        <pctVal>-0.18329114655</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="OXTKY6Q8X53C9ILVV871" name="NOMURA SECURITIES INTERNATIONAL, INC."/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>6.25330000</repurchaseRt>
          <maturityDt>2026-02-20</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>295459.69000000</principalAmt>
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              <collateralVal>265946.81000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Renew Financial</name>
        <lei>N/A</lei>
        <title>Renew 2024-2</title>
        <cusip>75975DAC8</cusip>
        <identifiers>
          <isin value="US75975DAC83"/>
        </identifiers>
        <balance>929629.91000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>900300.37000000</valUSD>
        <pctVal>0.662719225157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.22300000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2007-23CB</title>
        <cusip>02151EAS1</cusip>
        <identifiers>
          <isin value="US02151EAS19"/>
          <other otherDesc="SEDOL" value="BZ0BRN9"/>
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        <balance>360317.71000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.66528000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIM Trust</name>
        <lei>N/A</lei>
        <title>CIM Trust 2021-INV1</title>
        <cusip>12566PCU7</cusip>
        <identifiers>
          <isin value="US12566PCU75"/>
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        <balance>44145048.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>434488.81000000</valUSD>
        <pctVal>0.319831133139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.19000000</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>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="RP1012385"/>
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        <balance>-327000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-327000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="OXTKY6Q8X53C9ILVV871" name="NOMURA SECURITIES INTERNATIONAL, INC."/>
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            <repurchaseCollateral>
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        </repurchaseAgrmt>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IndyMac INDA Mortgage Loan Tru</name>
        <lei>N/A</lei>
        <title>IndyMac INDA Mortgage Loan Trust 2005-AR2</title>
        <cusip>45660LY60</cusip>
        <identifiers>
          <isin value="US45660LY609"/>
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        <balance>56828.23000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44316.44000000</valUSD>
        <pctVal>0.032621731321</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.81053500</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>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="RP1012243"/>
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        <balance>-1358000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1358000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BPR Trust</name>
        <lei>N/A</lei>
        <title>BPR Trust 2021-TY</title>
        <cusip>05592AAQ3</cusip>
        <identifiers>
          <isin value="US05592AAQ31"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>991427.00000000</valUSD>
        <pctVal>0.729798359674</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.62648000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRESB Multifamily Mortgage Pas</name>
        <lei>N/A</lei>
        <title>FRESB 2018-SB48 Mortgage Trust</title>
        <cusip>30296RAJ9</cusip>
        <identifiers>
          <isin value="US30296RAJ95"/>
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        <balance>1083140.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>637612.19000000</valUSD>
        <pctVal>0.469352085802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.69355200</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>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="RP1012237"/>
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        <balance>-1291000.00000000</balance>
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      <invstOrSec>
        <name>Bombardier Capital Mortgage Se</name>
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        <name>Farmer Mac Agricultural Real E</name>
        <lei>N/A</lei>
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          <isin value="US30768WAC29"/>
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        <name>New Residential Mortgage Loan</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>Credit Suisse Mortgage Trust</name>
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        <name>(Sunnova) Aurora I Issuer, LLC</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <title>Citigroup Mortgage Loan Trust Inc</title>
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        <name>New Residential Mortgage Loan</name>
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        <name>Bank</name>
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      <invstOrSec>
        <name>DRB PRIME STUDENT LOAN TRUST</name>
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        <name>Credit-Based Asset Servicing a</name>
        <lei>N/A</lei>
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          <isin value="US14983AAC36"/>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
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        <name>Greystone Commercial Real Esta</name>
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        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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        <name>Verus Securitization Trust</name>
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      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LHOME Mortgage Trust 2024-RTL1</title>
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        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC 2021-ADV</title>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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        <name>Cascade MH Asset Trust</name>
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        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC Series 2015-2R</title>
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          <maturityDt>2036-08-27</maturityDt>
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      <invstOrSec>
        <name>Hospitality Investors Trust</name>
        <lei>N/A</lei>
        <title>HIT Trust 2022-HI32</title>
        <cusip>40442AAN9</cusip>
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          <isin value="US40442AAN90"/>
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        <balance>1690137.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1713518.82000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FIVE POINT OP CO LP/FIVE</name>
        <lei>N/A</lei>
        <title>Five Point Operating Co LP / Five Point Capital Corp</title>
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          <isin value="US33834YAB48"/>
          <other otherDesc="SEDOL" value="BQXH9Y6"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>610794.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Freddie Mac - STACR</name>
        <lei>5493005LAQ76UDHPEE03</lei>
        <title>Freddie Mac STACR REMIC Trust 2019-HQA4</title>
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          <isin value="US35565CBE57"/>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>SOLRR Aircraft 2021-1 Limited</name>
        <lei>N/A</lei>
        <title>Lunar 2021-1 Structured Aircraft Portfolio Notes</title>
        <cusip>83438LAC5</cusip>
        <identifiers>
          <isin value="US83438LAC54"/>
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        <balance>1125963.94000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mor</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust 2020-MKST</title>
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          <isin value="US46652DAN57"/>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>N/A</lei>
        <title>Verus Securitization Trust 2022-INV2</title>
        <cusip>924923AD7</cusip>
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          <isin value="US924923AD75"/>
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        <balance>1430000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="RP1011584"/>
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          <transCat>Reverse repurchase</transCat>
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            <repurchaseCollateral>
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        <lei>OXTKY6Q8X53C9ILVV871</lei>
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          <transCat>Reverse repurchase</transCat>
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        <name>Freddie Mac - STACR</name>
        <lei>549300D2VO9JVX6KU482</lei>
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        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>16.16965000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bear Stearns Asset Backed Secu</name>
        <lei>N/A</lei>
        <title>Bear Stearns Asset Backed Securities I Trust 2005-CL1</title>
        <cusip>073879U97</cusip>
        <identifiers>
          <isin value="US073879U970"/>
          <other otherDesc="SEDOL" value="B3YJ9M8"/>
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        <balance>10693.69000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.74404700</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>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="RP1012396"/>
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        <balance>-1498000.00000000</balance>
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        <name>Verus Securitization Trust</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>ALLIANZ SE</name>
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        <name>REMIC FUNDING TRUST 98-1</name>
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        <name>Avis Budget Rental Car Funding</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
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      <invstOrSec>
        <name>National Collegiate Student Lo</name>
        <lei>635400CI2B1FTO6YXF12</lei>
        <title>National Collegiate Student Loan Trust 2006-3</title>
        <cusip>63543VAG8</cusip>
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          <isin value="US63543VAG86"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>30711XDY7</cusip>
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          <isin value="US30711XDY76"/>
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        <balance>3486455.55000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3788499.40000000</valUSD>
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          <maturityDt>2029-04-25</maturityDt>
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      <invstOrSec>
        <name>MASTR Adjustable Rate Mortgage</name>
        <lei>N/A</lei>
        <title>MASTR Adjustable Rate Mortgages Trust 2006-OA1</title>
        <cusip>576433G42</cusip>
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          <isin value="US576433G423"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2046-04-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>549300K0XW5MBR2WNZ55</lei>
        <title>Freddie Mac STACR Trust 2019-FTR4</title>
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          <isin value="US35565GAE70"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2047-11-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <title>Nomura Securities Inc</title>
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          <other otherDesc="INTERNAL" value="RP1012386"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Conseco Financial Corp</name>
        <lei>N/A</lei>
        <title>Conseco Finance Corp</title>
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          <isin value="US393505Z544"/>
          <other otherDesc="SEDOL" value="2571139"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC 2017-RPL1 Trust</title>
        <cusip>22945AAH2</cusip>
        <identifiers>
          <isin value="US22945AAH23"/>
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        <balance>2910062.06000000</balance>
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        <curCd>USD</curCd>
        <valUSD>905477.45000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.97353000</annualizedRt>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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          <other otherDesc="INTERNAL" value="RP1012245"/>
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        <balance>-489000.00000000</balance>
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        <invCountry>US</invCountry>
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          <transCat>Reverse repurchase</transCat>
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      <invstOrSec>
        <name>Natixis Commercial Mortgage Se</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust 2022-RRI</title>
        <cusip>63875JAN8</cusip>
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          <isin value="US63875JAN81"/>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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          <transCat>Reverse repurchase</transCat>
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      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
        <lei>529900ZQNJ23BIJVY871</lei>
        <title>LHOME Mortgage Trust 2024-RTL5</title>
        <cusip>50205WAD9</cusip>
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          <isin value="US50205WAD92"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2039-09-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>MASTR Adjustable Rate Mortgage</name>
        <lei>N/A</lei>
        <title>MASTR Adjustable Rate Mortgages Trust 2004-12</title>
        <cusip>576433UC8</cusip>
        <identifiers>
          <isin value="US576433UC81"/>
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        <balance>2450.90000000</balance>
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        <curCd>USD</curCd>
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        <debtSec>
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          <annualizedRt>6.82022800</annualizedRt>
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      <invstOrSec>
        <name>Banc of America Funding Corpor</name>
        <lei>N/A</lei>
        <title>Banc of America Funding 2004-C Trust</title>
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          <isin value="US05946XLZ41"/>
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        <balance>117357.14000000</balance>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>ChaseFlex Trust</name>
        <lei>N/A</lei>
        <title>ChaseFlex Trust Series 2005-2</title>
        <cusip>16165TBD4</cusip>
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          <isin value="US16165TBD46"/>
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        <balance>5434739.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535490.91000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2035-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.06632000</annualizedRt>
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      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LHOME Mortgage Trust 2024-RTL2</title>
        <cusip>50205JAB2</cusip>
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          <isin value="US50205JAB26"/>
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        <balance>760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>767841.07000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.89700000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Deutsche Mortgage Securities,</name>
        <lei>N/A</lei>
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          <isin value="US25157GAW24"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Renaissance Home Equity Loan T</name>
        <lei>N/A</lei>
        <title>Renaissance Home Equity Loan Trust 2006-1</title>
        <cusip>759950GX0</cusip>
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          <isin value="US759950GX06"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
        <title>Freddie Mac Seasoned Credit Risk Transfer Trust Series 2016-1</title>
        <cusip>35563PAG4</cusip>
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          <isin value="US35563PAG46"/>
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        <balance>19661956.56000000</balance>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Residential Accredit Loans, In</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <title>Nomura Securities Inc</title>
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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Tru</name>
        <lei>N/A</lei>
        <title>IndyMac INDX Mortgage Loan Trust 2005-AR18</title>
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          <isin value="US45660LVZ92"/>
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      <invstOrSec>
        <name>Bear Mountain Park CLO, Ltd</name>
        <lei>N/A</lei>
        <title>Bear Mountain Park CLO Ltd</title>
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        <invCountry>JE</invCountry>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC Series 2014-11R</title>
        <cusip>12649FCL0</cusip>
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          <isin value="US12649FCL04"/>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2005-HY10</title>
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      <invstOrSec>
        <name>Natixis Commercial Mortgage Se</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust 2022-JERI</title>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>First Horizon Alternative Mort</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2005-14</title>
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      <invstOrSec>
        <name>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
        <title>Freddie Mac Seasoned Credit Risk Transfer Trust Series 2021-1</title>
        <cusip>35563PWQ8</cusip>
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      <invstOrSec>
        <name>Deutsche Mortgage Securities,</name>
        <lei>N/A</lei>
        <title>Deutsche Mortgage Securities Inc Mortgage Loan Trust Series 2006-PR1</title>
        <cusip>25157GBJ0</cusip>
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          <isin value="US25157GBJ04"/>
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        <balance>36988.88000000</balance>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>549300MHCI0CUXMJQS62</lei>
        <title>Freddie Mac STACR Trust 2019-FTR1</title>
        <cusip>35564PAC2</cusip>
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        <balance>1855000.00000000</balance>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38380PTL8</cusip>
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          <isin value="US38380PTL84"/>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Adjustable Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Adjustable Rate Mortgage Trust 2005-5</title>
        <cusip>007036LG9</cusip>
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          <isin value="US007036LG93"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
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        <title>Chimera Investment Corp</title>
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          <isin value="US16934Q5053"/>
          <ticker value="CIM"/>
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        <assetCat>EP</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Greenwich Capital Acceptance I</name>
        <lei>213800OU9AJE7513ME91</lei>
        <title>RBS Acceptance Inc</title>
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          <isin value="US396782EG53"/>
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        <assetCat>ABS-O</assetCat>
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        <title>Nomura Securities Inc</title>
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          <other otherDesc="INTERNAL" value="RP1012380"/>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2021-XL2</title>
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          <isin value="US05609KAQ22"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Starwood Mortgage Residential</name>
        <lei>N/A</lei>
        <title>Starwood Mortgage Residential Trust 2020-3</title>
        <cusip>85573MAF6</cusip>
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          <isin value="US85573MAF68"/>
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        <balance>1490000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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      <invstOrSec>
        <name>Citicorp Mortgage Securities,</name>
        <lei>N/A</lei>
        <title>Citicorp Mortgage Securities Trust Series 2007-8</title>
        <cusip>17312DAL2</cusip>
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          <isin value="US17312DAL29"/>
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        <balance>2436654.20000000</balance>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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          <transCat>Reverse repurchase</transCat>
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        <name>MFA FINANCIAL INC</name>
        <lei>YW72IMH2RRC8Z1TGLG58</lei>
        <title>MFA Financial Inc</title>
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          <isin value="US55272X5086"/>
          <ticker value="MFA"/>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Renaissance Home Equity Loan T</name>
        <lei>N/A</lei>
        <title>Renaissance Home Equity Loan Trust 2007-3</title>
        <cusip>75971FAF0</cusip>
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          <isin value="US75971FAF09"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-25</maturityDt>
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        <name>MIDOCEAN CREDIT CLO</name>
        <lei>N/A</lei>
        <title>MIDOCEAN CREDIT CLO XVIII LLC</title>
        <cusip>59803MAA4</cusip>
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          <isin value="US59803MAA45"/>
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        <balance>600000.00000000</balance>
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        <invCountry>KY</invCountry>
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        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2005-J10</title>
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          <isin value="US12667G4G57"/>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>Nomura Securities Inc</title>
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          <transCat>Reverse repurchase</transCat>
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      <invstOrSec>
        <name>Morgan Stanley Mortgage Loan T</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Mortgage Loan Trust 2007-15AR</title>
        <cusip>61756XBK0</cusip>
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          <isin value="US61756XBK00"/>
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        <balance>446952.65000000</balance>
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          <annualizedRt>3.60533600</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-08-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Western Asset Mortgage Opportunity Fund Inc.</ncom:nameOfApplicant>
      <ncom:signature>Christopher Berarducci</ncom:signature>
      <ncom:signerName>Christopher Berarducci</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
