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        <name>General Motors Financial Company Inc</name>
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        <name>Smbc Aviation Capital Finance</name>
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        <name>Westlake Automboile Receivables Trust 2018-3</name>
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        <name>Oracle Corp.</name>
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        <name>Jackson National Life Global Funding</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2004-54 FN</title>
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        <name>BENCHMARK 2023-V4 MORTGAGE TRUST</name>
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        <name>KB Kookmin Bank New York Branch</name>
        <lei>N/A</lei>
        <title>CITNAT F 02/08/27 YCD</title>
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        <invCountry>KR</invCountry>
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          <couponKind>Floating</couponKind>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4906 NF</title>
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        <name>Air Lease Corporation</name>
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        <title>AL 1.875 08/15/26</title>
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        <name>The Toronto-Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD 4.98 04/05/27 GMTN</title>
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        <invCountry>CA</invCountry>
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        <name>RHODE ISLAND ST STUDENT LN AUTH</name>
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        <title>RI RISSTD 07/01/2031</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2015-87 BF</title>
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        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>STZ 3.5 05/09/27</title>
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        <name>Citigroup Global Markets Holdings Inc.</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>C F 01/06/27 MTN</title>
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        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYNMTR 3.5 11/02/26 144A</title>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2026-11-02</maturityDt>
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        <name>Federal National Mortgage Association</name>
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        <name>Daimler Trucks Finance North America LLC</name>
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        <name>DEUTSCHE BANK AG NEW YORK BRANCH</name>
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        <name>Eversource Energy</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>TARGA RES CORP</name>
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        <name>National Bank of Canada</name>
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        <name>EIDP Inc</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Natwest Markets PLC</name>
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        <name>UBS Group AG</name>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury Notes</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Glencore Funding LLC</name>
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        <name>The Mosaic Company</name>
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        <name>Exeter Automobile Receivables Trust 2013-2</name>
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        <name>Federal National Mortgage Association</name>
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        <name>NTT Finance Corp</name>
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        <name>State Street Corp.</name>
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        <name>SANTANDER DRIVE AUTO 2025-1</name>
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        <name>Korea Development Bank New York Branch</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>Gmf Floorplan Owner Revolving Trust</name>
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        <name>Corebridge Global Funding</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Santander Drive Auto Receivables Trust 2025-2</name>
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        <title>SDART 2025-2 A2</title>
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        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>CLOVER CLO 2021-1 LLC</name>
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        <name>Digital Realty Trust, L.P.</name>
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        <name>NATIONAL BANK OF KUWAIT SAK NEW YORK BRANCH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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        <name>National Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2011-87 FJ</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2013-2 QF</title>
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        <name>Morgan Stanley Capital I Trust 2017-HR2</name>
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        <title>MSC 2017-HR2 ASB</title>
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          <couponKind>Fixed</couponKind>
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        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYNMTR F 01/07/28 144A</title>
        <cusip>44891ADN4</cusip>
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          <couponKind>Floating</couponKind>
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        <name>Standard Chartered Bank New York Branch</name>
        <lei>N/A</lei>
        <title>STANLN F 10/30/26 YCD</title>
        <cusip>85325VSU5</cusip>
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        <invCountry>US</invCountry>

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          <maturityDt>2026-10-30</maturityDt>
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        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC V5.887 08/14/27</title>
        <cusip>404280DZ9</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>Discover Card Execution Note Trust</name>
        <lei>549300CKCX1QE4RUW216</lei>
        <title>DCENT 2023-A1 A</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC V6.615 10/20/27</title>
        <cusip>693475BT1</cusip>
        <identifiers>
          <isin value="US693475BT12"/>
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        <balance>6544000.00000000</balance>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>COF V1.878 11/02/27</title>
        <cusip>14040HCH6</cusip>
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        <balance>6945000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NatWest Group PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NWG V1.642 06/14/27</title>
        <cusip>639057AC2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.64200000</annualizedRt>
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        <name>Citigroup Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Equitable America Global Funding</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>TOYOTA AUTO RECEIVABLES 2023-B OWNE</name>
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        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>BAIN CAPITAL CR CLO 2020-3 LTD/LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>VENTURE 34 CLO LTD</name>
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        <name>Glencore Funding LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>American Honda Finance Corporation</name>
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        <name>INVESCO CLO 2022-2. LTD.</name>
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        <title>INVCO 2022-2A A1R</title>
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        <invCountry>JE</invCountry>
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        <name>Air Lease Corporation</name>
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        <title>Air Lease Corporation 0% CP 12/03/2026</title>
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        <assetCat>STIV</assetCat>
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          <couponKind>None</couponKind>
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        <name>HSBC BANK PLC</name>
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        <assetCat>STIV</assetCat>
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        <invCountry>GB</invCountry>
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        <name>American Express Credit Account Master Trust</name>
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        <title>AMXCA 2025-2 A</title>
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          <couponKind>Fixed</couponKind>
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        <name>Corebridge Global Funding</name>
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        <title>CRBG F 12/15/28 144A</title>
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        <name>SFS AUTO RECEIVABLES SECURITIZATION TRUST 2026-1</name>
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        <title>SFAST 2026-1A A3</title>
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          <couponKind>Variable</couponKind>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 3.875 10/15/27</title>
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        <name>LCCM 2017-Lc26 Mortgage Trust</name>
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        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYNMTR 4.85 03/25/27 144A</title>
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          <couponKind>Fixed</couponKind>
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        <name>Oneok Inc.</name>
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        <title>OKE 5.55 11/01/26</title>
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          <couponKind>Fixed</couponKind>
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        <name>TOYOTA AUTO RECEIVABLES 2024-C OWNE</name>
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        <title>TAOT 2024-C A3</title>
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          <couponKind>Fixed</couponKind>
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        <name>NATIONAL BANK OF KUWAIT SAK NEW YORK BRANCH</name>
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        <title>NTBKKK F 01/14/27 YCD</title>
        <cusip>63376GAW8</cusip>
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        <name>Chase Issuance Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Natixis New York Branch</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>World Omni Automobile Lease Securitization Trust</name>
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        <name>TOYOTA LEASE OWNER TRUST 2024-B</name>
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        <name>ABN AMRO Bank N.V.</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Oracle Corp.</name>
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        <name>HSBC Holdings PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
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        <name>NextEra Energy Capital Holdings Inc</name>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mercedes-Benz Finance North America LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco Santander SA</name>
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          <couponKind>Floating</couponKind>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>The Charles Schwab Corporation</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>SCHW 2.45 03/03/27</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>AGL CLO 16 Ltd.</name>
        <lei>2549009GL17CEZFCKZ48</lei>
        <title>AGL 2021-16A AR</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Company Inc</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GM 5.4 04/06/26</title>
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          <couponKind>Fixed</couponKind>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>AbbVie Inc.</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>Skandinaviska Enskilda Banken AB (publ)</name>
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        <title>SEB F 03/05/27 144A</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2010-141 FB</title>
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          <couponKind>Floating</couponKind>
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        <name>General Motors Financial Company Inc</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GM 5 07/15/27</title>
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        <invCountry>US</invCountry>
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        <name>Barclays PLC</name>
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        <name>FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>BX Trust 2018-Bilt</name>
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        <name>Federal National Mortgage Association</name>
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        <name>American Express Credit Account Master Trust</name>
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        <name>NBN Co Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TOYOTA AUTO RECEIVABLES 2022-D OWNE</name>
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        <name>Macquarie Bank Ltd.</name>
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        <name>ERAC USA Finance LLC</name>
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        <name>Sumitomo Mitsui Financial Group Inc.</name>
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        <invCountry>JP</invCountry>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4897 F</title>
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        <name>Bank of Nova Scotia</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4852 BF</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4215 NF</title>
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        <name>Jackson National Life Global Funding</name>
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        <name>Government National Mortgage Association</name>
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        <name>Sumitomo Mitsui Financial Group Inc.</name>
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        <name>Equitable Financial Life Global Funding</name>
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        <name>LSEG US FIN CORP</name>
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        <name>Zais CLO 13, Limited</name>
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        <name>Morgan Stanley Private Bank National Association</name>
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        <name>Banco Santander SA</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>MPLX LP</name>
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        <name>Hyundai Capital America</name>
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        <name>Entergy New Orleans Llc</name>
        <lei>1Q8BAFRNDFTDI3IGJH73</lei>
        <title>ETR 4 06/01/26</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Capital One Financial Corp.</name>
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        <name>GM FINANCIAL AUTOMOBILE LEASING TRU</name>
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        <name>United States Treasury Notes</name>
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        <name>Susa Partnership, L.P.</name>
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        <name>ING Groep N.V.</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Mizuho Financial Group Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Gm Financial Consumer Automobile Receivables Trust 2025-1</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Bio-Rad Laboratories, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>MOUNTAIN VIEW CLO</name>
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        <name>Federal National Mortgage Association</name>
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        <name>APIDOS CLO XXIII LTD</name>
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        <name>Ubs Barclays Commercial Mortgage Trust 2017-C2</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>Hyundai Auto Receivables Trust 2023-A</name>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac New Zealand Limited</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Daimler Trucks Finance North America LLC</name>
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        <name>The Toronto-Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD F 10/13/28</title>
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        <balance>5086000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Banco Santander SA</name>
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        <invCountry>ES</invCountry>
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        <name>GE Aerospace</name>
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        <name>Hyundai Capital America</name>
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        <name>National Bank of Canada</name>
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        <name>Eversource Energy</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FORD CREDIT AUTO LEASE TRUST 2024-B</name>
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        <title>FORDL 2024-B A3</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4068 UF</title>
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        <name>Federal National Mortgage Association</name>
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        <name>AERCAP IRELAND CAPITAL DAC</name>
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        <name>Banco Santander SA</name>
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        <name>HSBC USA, Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Intesa Sanpaolo S.p.A.</name>
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        <name>Daimler Trucks Finance North America LLC</name>
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        <name>Bbcms Mortgage Trust 2017</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>The Toronto-Dominion Bank</name>
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        <name>Nationwide Building Society</name>
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        <name>Federal National Mortgage Association</name>
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        <name>BASF SE</name>
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        <name>American Honda Finance Corporation</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Bunge Ltd Finance Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>HYUNDAI AUTO RECEIVABLES TR 2024-B</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Societe Generale S.A.</name>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group Inc.</name>
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        <name>ENEL Finance International N.V.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jackson National Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NISSAN AUTO LEASE TRUST 2024-A</name>
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        <name>Banque Federative du Credit Mutuel</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 3593 CF</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HYUNDAI AUTO RECEIVABLES TRUST 2022</name>
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        <title>HART 2022-C A3</title>
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        <fairValLevel>2</fairValLevel>
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        <name>DELL INTERNATIONAL LLC</name>
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        <name>Lloyds Banking Group PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <name>SYMPHONY CLO 52 LTD</name>
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        <title>SYMP 2025-52A AR</title>
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        <invCountry>KY</invCountry>
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        <name>Protective Life Global Funding</name>
        <lei>635400EVYITCJYWL2I50</lei>
        <title>PROTLI F 09/11/28 144A</title>
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        <name>CREDIT AGRICOLE SA</name>
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        <title>ACAFP F 03/11/27 144A</title>
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        <name>VW CREDIT INC</name>
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        <title>VW Credit, Inc. 0% CP 24/09/2026</title>
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        <name>M&amp;T Bank Auto Receivables Trust 2025-1</name>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS V3.869 01/12/29 144A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Federal National Mortgage Association</name>
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        <name>Bank of America Corp.</name>
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        <name>Eversource Energy</name>
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        <name>Federal National Mortgage Association</name>
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        <name>National Bank of Canada</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Intel Corporation</name>
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        <name>HSBC USA, Inc.</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Societe Generale S.A.</name>
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        <name>Cox Communications, Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>BANCO SANTANDER SA NEW YORK BRANCH</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FHR 3033 FG</title>
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        <name>Bunge Ltd Finance Corp.</name>
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        <debtSec>
          <maturityDt>2027-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
        <title>NSLT 2016-1A A</title>
        <cusip>64033UAA8</cusip>
        <identifiers>
          <isin value="US64033UAA88"/>
        </identifiers>
        <balance>163029.20410000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162728.22000000</valUSD>
        <pctVal>0.011727804966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.58169000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC NEW YORK BRANCH</name>
        <lei>N/A</lei>
        <title>BACR F 10/09/26 YCD</title>
        <cusip>06745GEP2</cusip>
        <identifiers>
          <isin value="US06745GEP28"/>
        </identifiers>
        <balance>5500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5510501.37000000</valUSD>
        <pctVal>0.397141229326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massmutual Global Funding II</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MASSMU F 01/22/29 144A</title>
        <cusip>57629TCA3</cusip>
        <identifiers>
          <isin value="US57629TCA34"/>
        </identifiers>
        <balance>7828000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7834425.22000000</valUSD>
        <pctVal>0.564626166300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.32605400</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>VLTO 5.5 09/18/26</title>
        <cusip>92338CAB9</cusip>
        <identifiers>
          <isin value="US92338CAB90"/>
        </identifiers>
        <balance>8287000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8343760.81000000</valUSD>
        <pctVal>0.601333926406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RY V5.069 07/23/27 GMTN</title>
        <cusip>78016HZX1</cusip>
        <identifiers>
          <isin value="US78016HZX15"/>
        </identifiers>
        <balance>1480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1486509.62000000</valUSD>
        <pctVal>0.107132585268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.06900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CM 5.237 06/28/27</title>
        <cusip>13607L8C0</cusip>
        <identifiers>
          <isin value="US13607L8C03"/>
        </identifiers>
        <balance>3159000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3216704.13000000</valUSD>
        <pctVal>0.231827513830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.23700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNR 2002-53 FY</title>
        <cusip>31392EJM3</cusip>
        <identifiers>
          <isin value="US31392EJM30"/>
        </identifiers>
        <balance>103215.49580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103363.56000000</valUSD>
        <pctVal>0.007449400431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.28169000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Express Company</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AXP F 04/23/27</title>
        <cusip>025816DS5</cusip>
        <identifiers>
          <isin value="US025816DS55"/>
        </identifiers>
        <balance>5917000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5920331.74000000</valUSD>
        <pctVal>0.426677659140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.41642800</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cedar Funding IX CLO</name>
        <lei>N/A</lei>
        <title>CEDF 2018-9A AR</title>
        <cusip>15033EAN8</cusip>
        <identifiers>
          <isin value="US15033EAN85"/>
        </identifiers>
        <balance>9750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9783988.50000000</valUSD>
        <pctVal>0.705130978055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.08763000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARWICK CAPITAL CLO 2024-3 LTD</name>
        <lei>N/A</lei>
        <title>WWICK 2024-3A A1</title>
        <cusip>93655PAA5</cusip>
        <identifiers>
          <isin value="US93655PAA57"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5002500.00000000</valUSD>
        <pctVal>0.360529626309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.31763000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4248 FL</title>
        <cusip>3137B4UR5</cusip>
        <identifiers>
          <isin value="US3137B4UR50"/>
        </identifiers>
        <balance>47470.25850000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47392.84000000</valUSD>
        <pctVal>0.003415596780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.22267000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MAR 4.2 07/15/27</title>
        <cusip>571903BV4</cusip>
        <identifiers>
          <isin value="US571903BV42"/>
        </identifiers>
        <balance>3640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3656209.76000000</valUSD>
        <pctVal>0.263502636378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BAC V1.658 03/11/27 N</title>
        <cusip>06051GJQ3</cusip>
        <identifiers>
          <isin value="US06051GJQ38"/>
        </identifiers>
        <balance>1772000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1770525.59000000</valUSD>
        <pctVal>0.127601585074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Element Fleet Management Corp</name>
        <lei>5493000PGBS1C22ELQ16</lei>
        <title>EFNCN 5.643 03/13/27 144A</title>
        <cusip>286181AM4</cusip>
        <identifiers>
          <isin value="US286181AM42"/>
        </identifiers>
        <balance>3020000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3065478.48000000</valUSD>
        <pctVal>0.220928697822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.64300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MACQUARIE GROUP LTD</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd. FRN CP 10/09/2026 USD</title>
        <cusip>55607NF21</cusip>
        <identifiers>
          <isin value="US55607NF214"/>
        </identifiers>
        <balance>1019000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1019376.72000000</valUSD>
        <pctVal>0.073466368401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.01000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHASE AUTO OWNER TRUST 2024-5</name>
        <lei>N/A</lei>
        <title>CHAOT 2024-5A A3</title>
        <cusip>16144QAC9</cusip>
        <identifiers>
          <isin value="US16144QAC96"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2007857.60000000</valUSD>
        <pctVal>0.144706077003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.18000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Allison Frachiolla</ncom:signature>
      <ncom:signerName>Allison Frachiolla</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
