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        <name>Hyundai Capital America</name>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>AerCap Ireland Capital DAC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CGG SA</name>
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        <name>Renk AG</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-16</maturityDt>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
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        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Valeo</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Pro-Gest SpA</name>
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        <name>N/A</name>
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        <name>International Game Technology plc</name>
        <lei>549300UQ6KHRCZDRGZ76</lei>
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        <name>Glencore Finance Europe Ltd.</name>
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        <name>Repsol International Finance BV</name>
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        <name>Deutsche Bank AG</name>
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        <name>Republic of South Africa</name>
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        <invCountry>ZA</invCountry>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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        <name>thyssenkrupp AG</name>
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        <name>Credit Agricole SA</name>
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        <name>CF Industries, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Anheuser-Busch Cos. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Huarong Finance 2019 Co. Ltd.</name>
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        <name>Chrome Bidco SASU</name>
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        <name>Vonovia Finance BV</name>
        <lei>5299009XLZLD9TALOZ03</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Credit Agricole SA</name>
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        <name>Abertis Infraestructuras Finance BV</name>
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        <name>Republic of South Africa</name>
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        <invCountry>ZA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>Dominican Republic</name>
        <lei>N/A</lei>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-KF38, Class B</title>
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        <name>JetBlue Pass-Through Trust</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>BP Capital Markets plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CeramTec BondCo GmbH</name>
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        <name>N/A</name>
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        <name>ABN AMRO Bank NV</name>
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        <name>N/A</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Country Garden Holdings Co. Ltd.</name>
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        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
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        <name>Intesa Sanpaolo SpA</name>
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        <name>Cellnex Telecom SA</name>
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        <name>N/A</name>
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        <name>Heathrow Funding Ltd.</name>
        <lei>7TI96JO3DYEIQWZ7Z726</lei>
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        <name>BANK</name>
        <lei>549300GL0Y86051URC66</lei>
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        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <name>TI Automotive Finance plc</name>
        <lei>549300MZ54ZRN8UFQS35</lei>
        <title>TI Automotive Finance plc</title>
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        <name>Matterhorn Telecom SA</name>
        <lei>549300MTB0YI26SMUT22</lei>
        <title>Matterhorn Telecom SA</title>
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        <invCountry>LU</invCountry>
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        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558BT9</cusip>
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        <name>Nokia OYJ</name>
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        <name>United Mexican States</name>
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        <name>Motion Finco SARL</name>
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        <name>FNMA</name>
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        <name>Schaeffler AG</name>
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        <name>DT Auto Owner Trust</name>
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        <name>FNMA</name>
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        <name>Oriental Republic of Uruguay</name>
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        <invCountry>UY</invCountry>
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        <name>Altice France SA</name>
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        <name>Empresa de Transporte de Pasajeros Metro SA</name>
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        <name>CT Investment GmbH</name>
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        <name>UBS Group AG</name>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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        <name>Cemex SAB de CV</name>
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        <title>Cemex SAB de CV</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K041, Class X3</title>
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        <name>Verizon Communications, Inc.</name>
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        <name>Republic of Italy</name>
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        <name>N/A</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Sunshine Mid BV</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>LKQ Italia Bondco SpA</name>
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        <invCountry>IT</invCountry>

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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="85257"/>
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        <units>NC</units>
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        <name>Bank of America Corp.</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>ams AG</name>
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        <name>N/A</name>
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        <name>Summer BC Holdco B SARL</name>
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        <title>Summer BC Holdco B SARL</title>
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        <name>Eversholt Funding plc</name>
        <lei>5493002X7O83FCJVYO69</lei>
        <title>Eversholt Funding plc</title>
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        <name>Telefonica Europe BV</name>
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        <name>Serbia International Bond</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Republic of Serbia</title>
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      <invstOrSec>
        <name>Republic of Senegal</name>
        <lei>549300NP14ZLQGWIUZ97</lei>
        <title>Republic of Senegal</title>
        <cusip>N/A</cusip>
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          <isin value="XS1790134362"/>
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        <curCd>USD</curCd>
        <valUSD>250250.00000000</valUSD>
        <pctVal>0.081571556529</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LB Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LB Commercial Mortgage Trust, Series 2007-C3, Class AJ</title>
        <cusip>50177AAH2</cusip>
        <identifiers>
          <isin value="US50177AAH23"/>
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        <balance>2967.70130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2930.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.01842960</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Nobel Bidco BV</name>
        <lei>549300NZZFLYK83VVT71</lei>
        <title>Nobel Bidco BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2355515946"/>
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        <balance>136000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <pctVal>0.048842482742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Cemex SAB de CV</name>
        <lei>549300RIG2CXWN6IV731</lei>
        <title>Cemex SAB de CV</title>
        <cusip>151290CA9</cusip>
        <identifiers>
          <isin value="US151290CA97"/>
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        <balance>488000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493490.00000000</valUSD>
        <pctVal>0.160858131596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.12499960</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Italy</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italian Republic Government Bond</title>
        <cusip>465410BY3</cusip>
        <identifiers>
          <isin value="US465410BY32"/>
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        <balance>1135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1164394.08000000</valUSD>
        <pctVal>0.379546203874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5023, Class MI</title>
        <cusip>3137FWV80</cusip>
        <identifiers>
          <isin value="US3137FWV803"/>
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        <balance>860462.97000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145223.00000000</valUSD>
        <pctVal>0.047336927688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
        <cusip>404119CB3</cusip>
        <identifiers>
          <isin value="US404119CB31"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153265.11000000</valUSD>
        <pctVal>0.049958336001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Banijay Group SAS</name>
        <lei>969500TVFVKI682L1144</lei>
        <title>Banijay Group SAS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2112335752"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>234611.27000000</valUSD>
        <pctVal>0.076473951941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPIE SA</name>
        <lei>969500TJNS5GSFWJ8X85</lei>
        <title>SPIE SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013245263"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>235262.24000000</valUSD>
        <pctVal>0.076686142295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2007-2CB, Class 1A6</title>
        <cusip>02149HAF7</cusip>
        <identifiers>
          <isin value="US02149HAF73"/>
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        <balance>130836.86000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97616.16000000</valUSD>
        <pctVal>0.031818989465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
        <cusip>195325DQ5</cusip>
        <identifiers>
          <isin value="US195325DQ52"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232781.25000000</valUSD>
        <pctVal>0.075877438135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</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>Transcanada Trust</name>
        <lei>549300Y0MFCAXLBWUV51</lei>
        <title>Transcanada Trust, Series 16-A</title>
        <cusip>89356BAB4</cusip>
        <identifiers>
          <isin value="US89356BAB45"/>
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        <balance>57000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61987.50000000</valUSD>
        <pctVal>0.020205461979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2076-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.87499840</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>Guala Closures SpA</name>
        <lei>81560014151D1C625F49</lei>
        <title>Guala Closures SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2357812556"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>110410.31000000</valUSD>
        <pctVal>0.035989374000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CGG SA</name>
        <lei>969500FCVQ5SLAAUJV59</lei>
        <title>CGG SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2324372510"/>
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        <balance>184000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>205022.60000000</valUSD>
        <pctVal>0.066829221201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CCUBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CCUBS Commercial Mortgage Trust, Series 2017-C1, Class C</title>
        <cusip>12508GAZ9</cusip>
        <identifiers>
          <isin value="US12508GAZ90"/>
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        <balance>28000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29939.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.53735000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K072, Class X3</title>
        <cusip>3137FEBT6</cusip>
        <identifiers>
          <isin value="US3137FEBT60"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45758.56000000</valUSD>
        <pctVal>0.014915472382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.20583160</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>Paysafe Finance plc</name>
        <lei>N/A</lei>
        <title>Paysafe Finance plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2010028426"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>369348.02000000</valUSD>
        <pctVal>0.120392778791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967NE7</cusip>
        <identifiers>
          <isin value="US172967NE72"/>
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        <balance>140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139928.89000000</valUSD>
        <pctVal>0.045611258184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>Yuzhou Group Holdings Co. Ltd.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Douglas GmbH</name>
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        <name>Nobel Bidco BV</name>
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        <name>Nationwide Building Society</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BP Capital Markets plc</name>
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        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Electric Co.</name>
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        <name>Kingdom of Bahrain</name>
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        <name>Kongsberg Actuation Systems BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TI Automotive Finance plc</name>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
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        <name>Credit Suisse Group AG</name>
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        <name>Emera, Inc.</name>
        <lei>NQZVQT2P5IUF2PGA1Q48</lei>
        <title>Emera, Inc., Series 16-A</title>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <invCountry>IT</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Renault SA</name>
        <lei>969500F7JLTX36OUI695</lei>
        <title>Renault SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0013368206"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Dufry One BV</name>
        <lei>7245003K5MN9U7XW0808</lei>
        <title>Dufry One BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1699848914"/>
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        <balance>400000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Telecom Italia SpA</name>
        <lei>549300W384M3RI3VXU42</lei>
        <title>Telecom Italia SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1846631049"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>Lendmark Funding Trust</name>
        <lei>N/A</lei>
        <title>Lendmark Funding Trust, Series 2019-2A, Class C</title>
        <cusip>52604AAC2</cusip>
        <identifiers>
          <isin value="US52604AAC27"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>589556.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.72000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freeport-McMoRan, Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan, Inc.</title>
        <cusip>35671DBC8</cusip>
        <identifiers>
          <isin value="US35671DBC83"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123241.00000000</valUSD>
        <pctVal>0.040171669124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K078, Class X3</title>
        <cusip>3137FGR64</cusip>
        <identifiers>
          <isin value="US3137FGR648"/>
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        <balance>1820000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>233460.14000000</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>2046-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.28522240</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Telecom Italia SpA</name>
        <lei>549300W384M3RI3VXU42</lei>
        <title>Telecom Italia SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1419869885"/>
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        <balance>825000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087M76</cusip>
        <identifiers>
          <isin value="CA135087M763"/>
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        <balance>1928000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.27745000"/>
        <valUSD>1495326.28000000</valUSD>
        <pctVal>0.487416951766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-01</maturityDt>
          <couponKind>Fixed</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>
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      <invstOrSec>
        <name>Huarong Finance 2019 Co. Ltd.</name>
        <lei>549300M6T6OW4AGYHK10</lei>
        <title>Huarong Finance 2019 Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2122990653"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191500.00000000</valUSD>
        <pctVal>0.062421390910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.29462840</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>ContourGlobal Power Holdings SA</name>
        <lei>549300O5AGIFK0PQ1516</lei>
        <title>ContourGlobal Power Holdings SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2274816334"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>111425.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Centrica plc</name>
        <lei>E26EDV109X6EEPBKVH76</lei>
        <title>Centrica plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0753789980"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75190796"/>
        <valUSD>310298.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NDT5</cusip>
        <identifiers>
          <isin value="US20030NDT54"/>
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        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281837.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.93700000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Punch Finance plc</name>
        <lei>2138006IJRIU1Q5DN388</lei>
        <title>Punch Finance plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2357308472"/>
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        <balance>138000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75190796"/>
        <valUSD>183304.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-KF49, Class B</title>
        <cusip>30307PAA9</cusip>
        <identifiers>
          <isin value="US30307PAA93"/>
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        <balance>199729.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>195979.69000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.98749880</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="FVH2COS"/>
          <other otherDesc="Future Ticker" value="FVH2 Comdty"/>
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        <balance>-36.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27353.23000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>United States of America</issuerName>
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            <expDate>2022-03-31</expDate>
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        <securityLending>
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      <invstOrSec>
        <name>Greenko Dutch BV</name>
        <lei>724500PT585P4JPVRP08</lei>
        <title>Greenko Dutch BV</title>
        <cusip>39530LAD2</cusip>
        <identifiers>
          <isin value="US39530LAD29"/>
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        <balance>197000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198871.50000000</valUSD>
        <pctVal>0.064824207010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</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>RAC Bond Co. plc</name>
        <lei>2138008FCM2SUNLC7B21</lei>
        <title>RAC Bond Co. plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2401583021"/>
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        <balance>254000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75190796"/>
        <valUSD>329043.68000000</valUSD>
        <pctVal>0.107255165410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Tencent Holdings Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verisure Midholding AB</name>
        <lei>549300496LYEZ55X1M49</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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          <isin value="FR0013533999"/>
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        <invCountry>FR</invCountry>
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          <maturityDt>2027-12-23</maturityDt>
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          <annualizedRt>3.99999850</annualizedRt>
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        <name>HSBC Holdings plc</name>
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        <title>HSBC Holdings plc</title>
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        <curCd>USD</curCd>
        <valUSD>487743.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-18</maturityDt>
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          <annualizedRt>1.64499840</annualizedRt>
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      <invstOrSec>
        <name>Lear Corp.</name>
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        <title>Lear Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>118362.64000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.55000000</annualizedRt>
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        <name>Volkswagen International Finance NV</name>
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        <cusip>N/A</cusip>
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          <isin value="XS1910948329"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-18</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0013447877"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-19</maturityDt>
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          <annualizedRt>1.74999980</annualizedRt>
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      <invstOrSec>
        <name>INEOS Quattro Finance 2 plc</name>
        <lei>213800V48W4Y5MT5Q131</lei>
        <title>INEOS Quattro Finance 2 plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2291929904"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>EDP Finance BV</name>
        <lei>5299007L43AQDFOW5739</lei>
        <title>EDP Finance BV</title>
        <cusip>26835PAF7</cusip>
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          <isin value="US26835PAF71"/>
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        <balance>675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>711869.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-15</maturityDt>
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          <annualizedRt>3.62500000</annualizedRt>
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        <name>Indonesia Asahan Aluminium Persero PT</name>
        <lei>2549008P48EB9SN2OI80</lei>
        <title>Indonesia Asahan Aluminium Persero PT</title>
        <cusip>74445PAF9</cusip>
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          <isin value="US74445PAF99"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>226595.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>5.45000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K051, Class X3</title>
        <cusip>3137BM7E0</cusip>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78358.13000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.66855320</annualizedRt>
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      <invstOrSec>
        <name>Republic of Italy</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italian Republic Government Bond</title>
        <cusip>465410BX5</cusip>
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          <isin value="US465410BX58"/>
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        <balance>3295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3387640.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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      <invstOrSec>
        <name>Vantage Towers AG</name>
        <lei>213800BBQO965UPQ7J59</lei>
        <title>Vantage Towers AG</title>
        <cusip>N/A</cusip>
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          <isin value="DE000A3H3J22"/>
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        <balance>300000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>71654QDF6</cusip>
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          <isin value="US71654QDF63"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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      <invstOrSec>
        <name>Kirk Beauty SUN GmbH</name>
        <lei>9845005056B369360745</lei>
        <title>Kirk Beauty SUN GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2326508186"/>
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        <balance>261687.00000000</balance>
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        <invCountry>DE</invCountry>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>8.25000000</annualizedRt>
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      <invstOrSec>
        <name>Federal Democratic Republic of Ethiopia</name>
        <lei>N/A</lei>
        <title>Federal Democratic Republic of Ethiopia</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1151974877"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>260000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ET</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>Abertis Infraestructuras Finance BV</name>
        <lei>5493007WHKI5H75YJ358</lei>
        <title>Abertis Infraestructuras Finance BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2256949749"/>
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        <balance>600000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.24799995</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
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        <name>Serbia International Bond</name>
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        <name>Altice France Holding SA</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>Velocity Commercial Capital Loan Trust</name>
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        <name>FHLMC</name>
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        <name>SES SA</name>
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        <name>FNMA</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>Verisure Holding AB</name>
        <lei>549300VQQCWGISM3N408</lei>
        <title>Verisure Holding AB</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Buxl 30 Year Bond</title>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>Federal Republic of Germany</issuerName>
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      <invstOrSec>
        <name>BANK</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Electricite de France SA</name>
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        <name>Arab Republic of Egypt</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paprec Holding SA</name>
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        <name>Republic of Indonesia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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          <isin value="US404280CL16"/>
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        <balance>520000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>eDreams ODIGEO SA</name>
        <lei>959800Y8LQ5MR2YZ4N96</lei>
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          <isin value="XS1879565791"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
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        <name>Arab Republic of Egypt</name>
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        <title>Arab Republic of Egypt</title>
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        <name>Credit Suisse Group AG</name>
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        <name>SES SA</name>
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        <name>Standard Chartered plc</name>
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      <invstOrSec>
        <name>Credit Mutuel Arkea SA</name>
        <lei>96950041VJ1QP0B69503</lei>
        <title>Credit Mutuel Arkea SA</title>
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        <name>Monitchem HoldCo 3 SA</name>
        <lei>222100SJHJ1CNJMSW162</lei>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PNMAC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>PNMAC GMSR Issuer Trust, Series 2018-GT2, Class A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.74200120</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UGI International LLC</name>
        <lei>5493001JFF8MQO00ZQ21</lei>
        <title>UGI International LLC</title>
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          <isin value="XS1895495478"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gray Oak Pipeline LLC</name>
        <lei>N/A</lei>
        <title>Gray Oak Pipeline LLC</title>
        <cusip>38937LAC5</cusip>
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          <isin value="US38937LAC54"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50850.42000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc., Series T</title>
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          <isin value="US172967KM26"/>
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        <curCd>USD</curCd>
        <valUSD>224528.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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          <annualizedRt>6.24999960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Structured Asset Investment Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>86358EMB9</cusip>
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          <isin value="US86358EMB91"/>
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        <balance>44536.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44498.52000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.06700040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jaguar Land Rover Automotive plc</name>
        <lei>529900L73GEWN1O5NH84</lei>
        <title>Jaguar Land Rover Automotive plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS1551347393"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-15</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>INEOS Finance plc</name>
        <lei>2138002D68XDR4LZCG32</lei>
        <title>INEOS Finance plc</title>
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          <isin value="XS2250349581"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-31</maturityDt>
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        <name>Hungary</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>445545AM8</cusip>
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          <isin value="US445545AM86"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-22</maturityDt>
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          <annualizedRt>2.12500000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="86125"/>
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        <curCd>N/A</curCd>
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              <counterpartyName>State Street Bank and Trust</counterpartyName>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YED3</cusip>
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          <isin value="US61747YED31"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.23899840</annualizedRt>
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      <invstOrSec>
        <name>Telefonica Europe BV</name>
        <lei>7245007FZS0M65WUGP67</lei>
        <title>Telefonica Europe BV, Series NC5</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1795406575"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.99999952</annualizedRt>
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      <invstOrSec>
        <name>Grifols SA</name>
        <lei>959800HSSNXWRKBK4N60</lei>
        <title>Grifols SA</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>International Game Technology plc</name>
        <lei>549300UQ6KHRCZDRGZ76</lei>
        <title>International Game Technology plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS2009038113"/>
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        <balance>400000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2012-124, Class UI</title>
        <cusip>3136A9X60</cusip>
        <identifiers>
          <isin value="US3136A9X607"/>
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        <balance>105297.74750000</balance>
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        <curCd>USD</curCd>
        <valUSD>14168.88000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Brass NO 8 plc</name>
        <lei>2138001JRCRN7WGSM347</lei>
        <title>Brass NO 8 plc, Series 8A, Class A1</title>
        <cusip>10554MAA8</cusip>
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          <isin value="US10554MAA80"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="85882"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-1059.59000000</valUSD>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>UBS Commercial Mortgage Trust, Series 2017-C7, Class B</title>
        <cusip>90276WAW7</cusip>
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          <isin value="US90276WAW73"/>
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        <balance>106000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115801.94000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.29199920</annualizedRt>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087L44</cusip>
        <identifiers>
          <isin value="CA135087L443"/>
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        <balance>9655000.00000000</balance>
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        <pctVal>2.249380027982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Commerzbank AG</name>
        <lei>851WYGNLUQLFZBSYGB56</lei>
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        <name>Republic of Indonesia</name>
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        <name>Adler Pelzer Holding GmbH</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Federation of Malaysia</name>
        <lei>254900GSIL471JOBYY43</lei>
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          <isin value="MYBMS1900047"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>European Union</name>
        <lei>529900FZRK8FGMPEOM08</lei>
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        <cusip>N/A</cusip>
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          <isin value="EU000A283867"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Naturgy Finance BV</name>
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          <isin value="XS1224710399"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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          <isin value="XS2229875989"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
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      <invstOrSec>
        <name>Autostrade per l'Italia SpA</name>
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          <isin value="IT0005108490"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trivium Packaging Finance BV</name>
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          <isin value="XS2034068432"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ING Groep NV</name>
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          <isin value="XS1590823859"/>
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        <balance>400000.00000000</balance>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-11</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159074.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-02</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>DKT Finance ApS</name>
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        <invCountry>DK</invCountry>
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        <debtSec>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>Renault SA</name>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>1.12500000</annualizedRt>
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        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>201750.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>GE Capital International Funding Co. Unlimited Co.</name>
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        <curCd>USD</curCd>
        <valUSD>296114.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-15</maturityDt>
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        <name>Telefonica Emisiones SA</name>
        <lei>549300Y5MFC4SW5Z3K71</lei>
        <title>Telefonica Emisiones SA</title>
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          <maturityDt>2047-03-08</maturityDt>
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        <name>Verisure Holding AB</name>
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        <name>Herens Midco SARL</name>
        <lei>222100BJH5XPZD1JHF79</lei>
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        <invCountry>LU</invCountry>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <valUSD>371202.09000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.51100000</annualizedRt>
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        <name>Hapag-Lloyd AG</name>
        <lei>HD52L5PJVBXJUUX8I539</lei>
        <title>Hapag-Lloyd AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2326548562"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Iceland Bondco plc</name>
        <lei>2138002DRBYIA8QXHO36</lei>
        <title>Iceland Bondco plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS1681806326"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ArcelorMittal SA</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ArcelorMittal SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2082324018"/>
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        <balance>625000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-19</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2019-2A, Class B</title>
        <cusip>36257NAB9</cusip>
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          <isin value="US36257NAB91"/>
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        <balance>105477.62000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106203.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
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          <annualizedRt>3.32000000</annualizedRt>
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      <invstOrSec>
        <name>International Consolidated Airlines Group SA</name>
        <lei>959800TZHQRUSH1ESL13</lei>
        <title>International Consolidated Airlines Group SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2020581752"/>
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        <balance>300000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Tereos Finance Groupe I SA</name>
        <lei>969500183Z46A3QF8W69</lei>
        <title>Tereos Finance Groupe I SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013183571"/>
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        <balance>300000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-16</maturityDt>
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      <invstOrSec>
        <name>Ontex Group NV</name>
        <lei>549300AQESC6JJOPW253</lei>
        <title>Ontex Group NV</title>
        <cusip>N/A</cusip>
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          <isin value="BE6329443962"/>
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        <balance>200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Marlette Funding Trust</name>
        <lei>549300ZOVOBV0NZDYW87</lei>
        <title>Marlette Funding Trust, Series 2018-2A, Class C</title>
        <cusip>57109EAC3</cusip>
        <identifiers>
          <isin value="US57109EAC30"/>
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        <balance>77661.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77852.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AES Corp. (The)</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp. (The)</title>
        <cusip>00130HCC7</cusip>
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          <isin value="US00130HCC79"/>
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        <balance>42000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45279.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1963834251"/>
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        <balance>700000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.50000175</annualizedRt>
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      <invstOrSec>
        <name>Ukraine</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1303926528"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>561680.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Volkswagen International Finance NV</name>
        <lei>5299004PWNHKYTR23649</lei>
        <title>Volkswagen International Finance NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0968913342"/>
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        <balance>53000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-04</maturityDt>
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          <annualizedRt>5.12500150</annualizedRt>
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      <invstOrSec>
        <name>OneMain Direct Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>OneMain Direct Auto Receivables Trust, Series 2018-1A, Class D</title>
        <cusip>68268XAD3</cusip>
        <identifiers>
          <isin value="US68268XAD30"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160516.51000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>Cascade Funding Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Cascade Funding Mortgage Trust, Series 2021-FRR1, Class BK45</title>
        <cusip>12529YAC6</cusip>
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          <isin value="US12529YAC66"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-28</maturityDt>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
        <cusip>378272AY4</cusip>
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          <isin value="US378272AY43"/>
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        <balance>462000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co., Series BB</title>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="85744"/>
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              <counterpartyName>Citibank</counterpartyName>
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      <invstOrSec>
        <name>Techem Verwaltungsgesellschaft 675 mbH</name>
        <lei>529900N0M7FQHNAV1A41</lei>
        <title>Techem Verwaltungsgesellschaft 675 mbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2090816526"/>
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        <balance>800000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
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      <invstOrSec>
        <name>Portuguese Republic</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pinnacle Bidco plc</name>
        <lei>2138006Z5V8OBL2A2Q06</lei>
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      <invstOrSec>
        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Grupo Antolin-Irausa SA</name>
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          <isin value="XS2355632584"/>
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        <invCountry>ES</invCountry>
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      <invstOrSec>
        <name>Hungary</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>445545AF3</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-03-29</maturityDt>
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      <invstOrSec>
        <name>eG Global Finance plc</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="85986"/>
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      <invstOrSec>
        <name>FCE Bank plc</name>
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        <identifiers>
          <isin value="XS1186131717"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-10</maturityDt>
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      <invstOrSec>
        <name>Banc of America Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-10</maturityDt>
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      <invstOrSec>
        <name>OneMain Direct Auto Receivables Trust</name>
        <lei>N/A</lei>
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          <maturityDt>2025-04-14</maturityDt>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2078-10-03</maturityDt>
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          <annualizedRt>4.20000025</annualizedRt>
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        <name>Saipem Finance International BV</name>
        <lei>724500V4QZAOY63SY989</lei>
        <title>Saipem Finance International BV</title>
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          <isin value="XS1711584430"/>
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        <balance>250000.00000000</balance>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-07</maturityDt>
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          <annualizedRt>2.62500000</annualizedRt>
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        <name>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
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        <balance>300000.00000000</balance>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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          <isin value="XS2049810356"/>
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        <balance>400000.00000000</balance>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-15</maturityDt>
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      <invstOrSec>
        <name>Volkswagen International Finance NV</name>
        <lei>5299004PWNHKYTR23649</lei>
        <title>Volkswagen International Finance NV</title>
        <cusip>N/A</cusip>
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          <isin value="XS2187689034"/>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-17</maturityDt>
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          <annualizedRt>3.49999960</annualizedRt>
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      <invstOrSec>
        <name>Paprec Holding SA</name>
        <lei>969500ASAFSVN9KVC873</lei>
        <title>Paprec Holding SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1794209459"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange SA</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <name>Enel SpA</name>
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          <isin value="XS1713463559"/>
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        <name>FHLMC</name>
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        <name>WEPA Hygieneprodukte GmbH</name>
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        <name>N/A</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <invCountry>JO</invCountry>
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        <name>Credit Suisse Group AG</name>
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        <name>UBS Group AG</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Republic of Kenya</name>
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        <title>Republic of Kenya</title>
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        <name>ABN AMRO Bank NV</name>
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        <name>IHO Verwaltungs GmbH</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Constellation Automotive Financing plc</name>
        <lei>254900HVTSU7VICDRM89</lei>
        <title>Constellation Automotive Financing plc</title>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Energean Israel Finance Ltd.</name>
        <lei>98450044QACBL3F8EB03</lei>
        <title>Energean Israel Finance Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="IL0011736654"/>
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        <curCd>USD</curCd>
        <valUSD>153465.00000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-30</maturityDt>
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      <invstOrSec>
        <name>Republic of Paraguay</name>
        <lei>529900UXKJTJPCU0HK83</lei>
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          <isin value="USP75744AD76"/>
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        <curCd>USD</curCd>
        <valUSD>461291.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SELP Finance SARL</name>
        <lei>549300Y4VYEJE1MH6D45</lei>
        <title>SELP Finance SARL</title>
        <cusip>N/A</cusip>
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          <isin value="XS2344569038"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-27</maturityDt>
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          <annualizedRt>0.87500000</annualizedRt>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp., Series M</title>
        <cusip>14040HCF0</cusip>
        <identifiers>
          <isin value="US14040HCF01"/>
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        <balance>442000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>433712.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.94999920</annualizedRt>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="XS1989380172"/>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Lune Holdings SARL</name>
        <lei>54930003WQ56T0558M33</lei>
        <title>Lune Holdings SARL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2406727409"/>
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        <balance>375000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>91087BAN0</cusip>
        <identifiers>
          <isin value="US91087BAN01"/>
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        <balance>392000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>353241.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-05-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.77100000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kedrion SpA</name>
        <lei>81560047FA58E1BEDF67</lei>
        <title>Kedrion SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2339500170"/>
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        <balance>250000.00000000</balance>
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        <pctVal>0.091318113996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Emera US Finance LP</name>
        <lei>N/A</lei>
        <title>Emera US Finance LP</title>
        <cusip>29103DAQ9</cusip>
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          <isin value="US29103DAQ97"/>
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        <balance>272000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>271228.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K720, Class X3</title>
        <cusip>3137BLUT3</cusip>
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          <isin value="US3137BLUT39"/>
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        <balance>6800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55794.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.37537280</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wheel Bidco Ltd.</name>
        <lei>213800GGDN5YSVU1G348</lei>
        <title>Wheel Bidco Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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        <name>Bertelsmann SE &amp; Co. KGaA</name>
        <lei>5299001BUUGXAREGE533</lei>
        <title>Bertelsmann SE &amp; Co. KGaA</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>200000.00000000</balance>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2075-04-23</maturityDt>
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          <annualizedRt>3.00000070</annualizedRt>
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        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2019260764"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-27</maturityDt>
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          <annualizedRt>1.00000145</annualizedRt>
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        <name>Summer BC Holdco A SARL</name>
        <lei>984500EFA0BRE0008996</lei>
        <title>Summer BC Holdco A SARL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2067265392"/>
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        <balance>180210.52600000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-31</maturityDt>
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          <annualizedRt>9.25000000</annualizedRt>
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        <name>Rossini SARL</name>
        <lei>549300EC5JCCW6F83R11</lei>
        <title>Rossini SARL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1881594946"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-30</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Titan Holdings II BV</name>
        <lei>549300XU72VK2GL31495</lei>
        <title>Titan Holdings II BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2359953283"/>
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        <balance>200000.00000000</balance>
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        <valUSD>224551.80000000</valUSD>
        <pctVal>0.073194964425</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Cote d'Ivoire</name>
        <lei>254900ICW11T82O6H590</lei>
        <title>Republic of Cote d'Ivoire</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1196517434"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>289710.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Transocean, Inc.</name>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Suzano Austria GmbH</name>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Airbus SE</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sarens Finance Co. NV</name>
        <lei>549300B68EWZ6IHPCL79</lei>
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          <isin value="BE6318634548"/>
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        <balance>400000.00000000</balance>
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        <invCountry>BE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-21</maturityDt>
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      <invstOrSec>
        <name>Novelis Sheet Ingot GmbH</name>
        <lei>9845005E95899E77AY49</lei>
        <title>Novelis Sheet Ingot GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2326493728"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust, Series 2004-8, Class 3A</title>
        <cusip>86359BWG2</cusip>
        <identifiers>
          <isin value="US86359BWG21"/>
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        <balance>14666.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15042.08000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>KazMunayGas National Co. JSC</name>
        <lei>2138001H1M69RFJCSH88</lei>
        <title>KazMunayGas National Co. JSC</title>
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        <identifiers>
          <isin value="XS1595714087"/>
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        <balance>380000.00000000</balance>
        <units>PA</units>
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        <valUSD>446424.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="85973"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>BNP Paribas</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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            <putOrCall>Call</putOrCall>
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      <invstOrSec>
        <name>JetBlue Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US477165AA25"/>
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        <balance>158273.02000000</balance>
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      <invstOrSec>
        <name>Constellium SE</name>
        <lei>724500KRJEMC79KAAU28</lei>
        <title>Constellium SE</title>
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      <invstOrSec>
        <name>AES Corp. (The)</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp. (The)</title>
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      <invstOrSec>
        <name>eircom Finance DAC</name>
        <lei>254900NA4DUH50UERM85</lei>
        <title>eircom Finance DAC</title>
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      <invstOrSec>
        <name>Lear Corp.</name>
        <lei>549300UPNBTXA1SYTQ33</lei>
        <title>Lear Corp.</title>
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        <balance>80000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Herens Midco SARL</name>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Heathrow Funding Ltd.</name>
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        <name>Nykredit Realkredit A/S</name>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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          <isin value="XS1109765005"/>
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        <invCountry>IT</invCountry>
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        <name>Lorca Telecom Bondco SA</name>
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          <isin value="XS2240463674"/>
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        <name>Eni SpA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>Eni SpA</title>
        <cusip>26874RAJ7</cusip>
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          <isin value="US26874RAJ77"/>
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        <invCountry>IT</invCountry>
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          <maturityDt>2029-05-09</maturityDt>
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        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The), Series H</title>
        <cusip>808513BJ3</cusip>
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          <isin value="US808513BJ38"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Cellnex Telecom SA</name>
        <lei>5493008T4YG3AQUI7P67</lei>
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          <isin value="XS1551726810"/>
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        <invCountry>ES</invCountry>
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          <annualizedRt>2.87500000</annualizedRt>
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        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087K94</cusip>
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        <balance>6758000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2016-68, Class BI</title>
        <cusip>3136ATQ80</cusip>
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          <isin value="US3136ATQ802"/>
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        <balance>675202.59000000</balance>
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        <valUSD>55747.56000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <name>People's Republic of China</name>
        <lei>300300CHN201808MOF68</lei>
        <title>People's Republic of China</title>
        <cusip>N/A</cusip>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.02000000</annualizedRt>
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        <name>Atlantia SpA</name>
        <lei>8156008DEC771409C487</lei>
        <title>Atlantia SpA</title>
        <cusip>N/A</cusip>
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          <annualizedRt>1.62500000</annualizedRt>
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        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <name>Kingdom of Morocco</name>
        <lei>529900F3MBW9XY5K1X07</lei>
        <title>Kingdom of Morocco</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>MA</invCountry>
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          <maturityDt>2031-11-27</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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        <name>Republic of Kazakhstan</name>
        <lei>5493007OEK8EF02UO833</lei>
        <title>Republic of Kazakhstan</title>
        <cusip>N/A</cusip>
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          <isin value="XS2053084070"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Kingdom of Bahrain</name>
        <lei>549300RODM1WN85LFQ95</lei>
        <title>Kingdom of Bahrain</title>
        <cusip>N/A</cusip>
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        <balance>335000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2044-09-19</maturityDt>
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      <invstOrSec>
        <name>TK Elevator Holdco GmbH</name>
        <lei>2549008GCHWX9EEMIS56</lei>
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      <invstOrSec>
        <name>Longfor Group Holdings Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ProGroup AG</name>
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          <maturityDt>2026-03-31</maturityDt>
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      <invstOrSec>
        <name>Banco Mercantil del Norte SA</name>
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        <curCd>USD</curCd>
        <valUSD>201850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-06</maturityDt>
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          <annualizedRt>6.87499920</annualizedRt>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206418.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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        <name>State of Qatar</name>
        <lei>52990074F6OJOAXK4P65</lei>
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        <curCd>USD</curCd>
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        <invCountry>QA</invCountry>
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          <maturityDt>2050-04-16</maturityDt>
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          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <curCd>USD</curCd>
        <valUSD>63587.14000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-25</maturityDt>
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      <invstOrSec>
        <name>Chrome Bidco SASU</name>
        <lei>9845000C1FYE89DC8677</lei>
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          <isin value="XS2343001132"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>ZF Europe Finance BV</name>
        <lei>549300RI533US2G6G542</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>SES SA</name>
        <lei>5493008JPA4HYMH1HX51</lei>
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        <identifiers>
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        <balance>500000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-27</maturityDt>
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          <annualizedRt>2.87499915</annualizedRt>
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        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>UAE International Government Bond</name>
        <lei>N/A</lei>
        <title>UAE International Government Bond</title>
        <cusip>31424EAB8</cusip>
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          <isin value="US31424EAB83"/>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AE</invCountry>
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        <name>ARD Finance SA</name>
        <lei>6354006P6QPGGPVJW880</lei>
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          <isin value="XS2079032483"/>
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        <invCountry>LU</invCountry>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3136A8EX4</cusip>
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        <valUSD>20755.75000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K739, Class X1</title>
        <cusip>3137F64R5</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <name>Swiss Re Finance UK plc</name>
        <lei>549300C654ZPQWG3JF34</lei>
        <title>Swiss Re Finance UK plc</title>
        <cusip>N/A</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-04</maturityDt>
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        <name>Gilead Sciences, Inc.</name>
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        <name>Lorca Telecom Bondco SA</name>
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        <name>Solvay SA</name>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <name>General Electric Co.</name>
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        <name>NXP BV</name>
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        <name>Vodafone Group plc</name>
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        <name>Douglas GmbH</name>
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        <name>Freeport-McMoRan, Inc.</name>
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        <name>Diebold Nixdorf Dutch Holding BV</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>TotalEnergies SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TotalEnergies SE</title>
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        <name>CenterPoint Energy, Inc.</name>
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        <name>ING Groep NV</name>
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        <name>ZF Finance GmbH</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <name>Punch Finance plc</name>
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        <name>Gamma Bidco SpA</name>
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        <name>N/A</name>
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        <name>Commonwealth of Australia</name>
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        <name>Structured Asset Investment Loan Trust</name>
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        <name>BPCE SA</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>Credit Suisse Group AG</name>
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        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS1767931121"/>
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        <valUSD>238946.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-KF36, Class B</title>
        <cusip>30305DAA8</cusip>
        <identifiers>
          <isin value="US30305DAA81"/>
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        <balance>37836.89000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37836.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.73750120</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087A61</cusip>
        <identifiers>
          <isin value="CA135087A610"/>
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        <balance>16321000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.27745000"/>
        <valUSD>12894797.35000000</valUSD>
        <pctVal>4.203191572332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hashemite Kingdom of Jordan</name>
        <lei>5493000JZ4MYPVMBVN50</lei>
        <title>Hashemite Kingdom of Jordan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1117279882"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209850.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JO</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Autostrade per l'Italia SpA</name>
        <lei>815600149448CEB9B230</lei>
        <title>Autostrade per l'Italia SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2267889991"/>
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        <balance>700000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class C</title>
        <cusip>46648KBA3</cusip>
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          <isin value="US46648KBA34"/>
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        <balance>39000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41608.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.30167600</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MEGlobal Canada ULC</name>
        <lei>635400MHHHT7LMKMQL03</lei>
        <title>MEGlobal Canada ULC</title>
        <cusip>58518N2B7</cusip>
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          <isin value="US58518N2B76"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217915.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1953057491"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256125.00000000</valUSD>
        <pctVal>0.083486573091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.70020000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa</title>
        <cusip>836205BB9</cusip>
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          <isin value="US836205BB97"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>185537.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
        <lei>254900OYVDRYS9J51J61</lei>
        <title>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</title>
        <cusip>71568QAC1</cusip>
        <identifiers>
          <isin value="US71568QAC15"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213662.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>
      <invstOrSec>
        <name>INEOS Styrolution Group GmbH</name>
        <lei>5299003M4PGUGL48LS74</lei>
        <title>INEOS Styrolution Group GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2108560306"/>
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        <balance>300000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280CC1</cusip>
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          <isin value="US404280CC17"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>272549.05000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-22</maturityDt>
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      <invstOrSec>
        <name>Iliad Holding SASU</name>
        <lei>9695009PXA7OI9NXN582</lei>
        <title>Iliad Holding SASU</title>
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          <isin value="XS2397782322"/>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="85738"/>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Autostrade per l'Italia SpA</name>
        <lei>815600149448CEB9B230</lei>
        <title>Autostrade per l'Italia SpA</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDI</title>
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        <invCountry>US</invCountry>
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              <counterpartyName>ICE Clear US</counterpartyName>
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                <indexName>iTraxx Europe Crossover Index Series 36-V1</indexName>
                <indexIdentifier>iTraxx Europe Crossover Index Series 36-V1</indexIdentifier>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
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        <name>Republic of the Philippines</name>
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        <name>Alfa Desarrollo SpA</name>
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        <name>Vallourec SA</name>
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        <name>Onemain Financial Issuance Trust</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>La Financiere Atalian SASU</name>
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        <name>Banijay Entertainment SASU</name>
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        <name>Lorca Telecom Bondco SA</name>
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        <name>Federal Republic of Nigeria</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>TK Elevator Midco GmbH</name>
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        <name>UBS Group AG</name>
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        <name>Rolls-Royce plc</name>
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        <name>Republic of El Salvador</name>
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        <name>Petroleos Mexicanos</name>
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        <name>Citigroup, Inc.</name>
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        <name>Santander Revolving Auto Loan Trust</name>
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        <name>PLT VII Finance SARL</name>
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        <name>Republic of Indonesia</name>
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        <name>General Motors Financial Co., Inc.</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SPIE SA</name>
        <lei>969500TJNS5GSFWJ8X85</lei>
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        <cusip>N/A</cusip>
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          <isin value="FR0013426376"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-18</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS2225204010"/>
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        <balance>625000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2080-08-27</maturityDt>
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          <annualizedRt>3.00000070</annualizedRt>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US02379KAA25"/>
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        <curCd>USD</curCd>
        <valUSD>96981.39000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-11</maturityDt>
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          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Kazakhstan</name>
        <lei>5493007OEK8EF02UO833</lei>
        <title>Republic of Kazakhstan</title>
        <cusip>N/A</cusip>
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          <isin value="XS2053084070"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-30</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Brunello Bidco SpA</name>
        <lei>8156000BE2F1A5658E76</lei>
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          <isin value="XS2295690742"/>
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        <balance>300000.00000000</balance>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS1043545059"/>
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        <balance>500000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.94699830</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Faurecia SE</name>
        <lei>969500F0VMZLK2IULV85</lei>
        <title>Faurecia SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1963830002"/>
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        <balance>700000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAF8</cusip>
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          <isin value="US05401AAF84"/>
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        <balance>126000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>132060.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1951220596"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.74999905</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
        <cusip>539439AM1</cusip>
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          <isin value="US539439AM10"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>219355.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.58200000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
        <cusip>195325DS1</cusip>
        <identifiers>
          <isin value="US195325DS19"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188120.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wheel Bidco Ltd.</name>
        <lei>213800GGDN5YSVU1G348</lei>
        <title>Wheel Bidco Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="XS2364423652"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>State of Qatar</name>
        <lei>52990074F6OJOAXK4P65</lei>
        <title>State of Qatar</title>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>325850.00000000</valUSD>
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        <invCountry>QA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10300000</annualizedRt>
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      <invstOrSec>
        <name>Par Pharmaceutical, Inc.</name>
        <lei>549300KK5WR4MGN4YT97</lei>
        <title>Par Pharmaceutical, Inc.</title>
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          <isin value="US69888XAA72"/>
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        <balance>9000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9073.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
        <valUSD>83886.53000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc., Series W</title>
        <cusip>172967MU2</cusip>
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          <isin value="US172967MU24"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.99999960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Altice France Holding SA</name>
        <lei>5299000JVHXKJPOE6H40</lei>
        <title>Altice France Holding SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2138128314"/>
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        <balance>150000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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        <name>AI Candelaria Spain SLU</name>
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        <name>Banco de Sabadell SA</name>
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        <name>Glencore Funding LLC</name>
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        <name>AIB Group plc</name>
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        <name>Romania</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Titan Holdings II BV</name>
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        <name>N/A</name>
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        <name>Altice France Holding SA</name>
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        <name>Alternative Loan Trust</name>
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        <name>CK Hutchison Group Telecom Finance SA</name>
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        <name>CaixaBank SA</name>
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        <name>HSBC Holdings plc</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Telenet Finance Luxembourg Notes SARL</name>
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        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chase Funding Trust</name>
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          <isin value="US161546HC34"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="84849"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>State Street Bank and Trust</counterpartyName>
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      <invstOrSec>
        <name>Volvo Car AB</name>
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          <isin value="XS1724626699"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>BP Capital Markets plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BAT Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-15</maturityDt>
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      <invstOrSec>
        <name>thyssenkrupp AG</name>
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          <isin value="DE000A2BPET2"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-03</maturityDt>
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          <annualizedRt>1.37500000</annualizedRt>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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          <isin value="US06051GJT76"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Republic of Nigeria</name>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.62500000</annualizedRt>
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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grupo Antolin-Irausa SA</name>
        <lei>213800OILC5Q9AR63B63</lei>
        <title>Grupo Antolin-Irausa SA</title>
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          <isin value="XS2355632667"/>
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        <invCountry>ES</invCountry>
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        <name>TDC A/S</name>
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          <isin value="XS0752467497"/>
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        <balance>200000.00000000</balance>
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        <invCountry>DK</invCountry>
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        <name>Discovery Communications LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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        <name>FHLMC</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp.</title>
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        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
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      <invstOrSec>
        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
        <cusip>22546DAB2</cusip>
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        <balance>250000.00000000</balance>
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        <valUSD>269224.00000000</valUSD>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-11</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Republic of Angola</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Telefonica Europe BV</name>
        <lei>7245007FZS0M65WUGP67</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jamaica</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-28</maturityDt>
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      <invstOrSec>
        <name>Her Majesty The Queen In Right of New Zealand</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Matterhorn Telecom SA</name>
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          <isin value="XS2052290512"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Guala Closures SpA</name>
        <lei>81560014151D1C625F49</lei>
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          <isin value="XS2357818678"/>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>Aviation Capital Group LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
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          <isin value="US05369AAL52"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-20</maturityDt>
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          <annualizedRt>1.95000000</annualizedRt>
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        <name>Alibaba Group Holding Ltd.</name>
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        <curCd>USD</curCd>
        <valUSD>212808.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-06</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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        <name>Quatrim SASU</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Klabin Austria GmbH</name>
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        <curCd>USD</curCd>
        <valUSD>223375.00000000</valUSD>
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        <invCountry>AT</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-03</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>TotalEnergies Capital International SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Republic of Nigeria</name>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.87500000</annualizedRt>
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        <name>Volkswagen International Finance NV</name>
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        <name>ZF Europe Finance BV</name>
        <lei>549300RI533US2G6G542</lei>
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        <name>Santander Revolving Auto Loan Trust</name>
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        <name>Republic of South Africa</name>
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        <invCountry>ZA</invCountry>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Grifols SA</name>
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      <invstOrSec>
        <name>Traton Finance Luxembourg SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-12</maturityDt>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
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          <isin value="US38144GAE17"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-10</maturityDt>
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          <annualizedRt>3.80000160</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
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          <isin value="US61765LAY65"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2048-05-15</maturityDt>
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      <invstOrSec>
        <name>Anheuser-Busch InBev SA/NV</name>
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          <isin value="BE6320936287"/>
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        <invCountry>BE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-02</maturityDt>
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          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="85391"/>
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      <invstOrSec>
        <name>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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          <isin value="US37940XAH52"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368JFA3</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230437.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-29</maturityDt>
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          <annualizedRt>7.99999920</annualizedRt>
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      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
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        <cusip>N/A</cusip>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>4.99999995</annualizedRt>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
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        <balance>21000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24225.14000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US38380TB216"/>
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        <curCd>USD</curCd>
        <valUSD>43126.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61772BAB9</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-05-04</maturityDt>
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        <name>UBS Group AG</name>
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          <maturityDt>2028-11-05</maturityDt>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>Danske Bank A/S</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>EDP Finance BV</name>
        <lei>5299007L43AQDFOW5739</lei>
        <title>EDP Finance BV</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>thyssenkrupp AG</name>
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      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mex Bonos Desarr Fix Rt</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Adient Global Holdings Ltd.</name>
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        <title>Adient Global Holdings Ltd.</title>
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        <invCountry>JE</invCountry>

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          <maturityDt>2024-08-15</maturityDt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>549300L45M7638EL0H21</lei>
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          <isin value="US36250GAW50"/>
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        <curCd>USD</curCd>
        <valUSD>37449.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-05-10</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Gamma Bidco SpA</name>
        <lei>549300JS6XODWD0TZD48</lei>
        <title>Gamma Bidco SpA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2321537255"/>
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        <balance>450000.00000000</balance>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="85611"/>
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      <invstOrSec>
        <name>Sigma Holdco BV</name>
        <lei>254900RAPCKVT00GAO59</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS1813504666"/>
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        <balance>725000.00000000</balance>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>Republic of El Salvador</name>
        <lei>529900AKDMUSFSDOM949</lei>
        <title>Republic of El Salvador</title>
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          <isin value="USP01012AS54"/>
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        <balance>195000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SV</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Southern Copper Corp.</name>
        <lei>2549007U6NAP46Q9TU15</lei>
        <title>Southern Copper Corp.</title>
        <cusip>84265VAJ4</cusip>
        <identifiers>
          <isin value="US84265VAJ44"/>
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        <balance>140000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class C</title>
        <cusip>46645UAZ0</cusip>
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        <balance>28000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27629.43000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.54582720</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, STRIPS, Series 409, Class 27</title>
        <cusip>3136FLBC9</cusip>
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        <curCd>USD</curCd>
        <valUSD>7274.60000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMBB Commercial Mortgage Securities Trust, Series 2015-C31, Class C</title>
        <cusip>46644YBB5</cusip>
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          <isin value="US46644YBB56"/>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Iliad Holding SASU</name>
        <lei>9695009PXA7OI9NXN582</lei>
        <title>Iliad Holding SASU</title>
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        <invCountry>FR</invCountry>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
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        <balance>429000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2079-04-04</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>JetBlue Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>JetBlue Pass-Through Trust, Series 2019-1, Class A</title>
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          <isin value="US477143AJ07"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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      <invstOrSec>
        <name>Virgin Media Finance plc</name>
        <lei>2138001LVYC87DDHT482</lei>
        <title>Virgin Media Finance plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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          <isin value="US00206RLJ94"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Orano SA</name>
        <lei>969500161UMNDC85C891</lei>
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          <isin value="FR0011791391"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ardagh Packaging Finance plc</name>
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          <isin value="XS2189418267"/>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-08</maturityDt>
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          <annualizedRt>3.65299920</annualizedRt>
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      <invstOrSec>
        <name>Swiss Re Finance Luxembourg SA</name>
        <lei>549300CLQZ6TM98LW631</lei>
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          <isin value="US87089NAA81"/>
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        <curCd>USD</curCd>
        <valUSD>223000.00000000</valUSD>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-02</maturityDt>
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          <annualizedRt>5.00000040</annualizedRt>
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        <name>Suzano Austria GmbH</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
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          <isin value="XS2131567138"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-22</maturityDt>
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      <invstOrSec>
        <name>Chrome Holdco SASU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="85725"/>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="USH2COS"/>
          <other otherDesc="Future Ticker" value="USH2 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Arab Republic of Egypt</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group plc</name>
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        <title>Vodafone Group plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Credit Agricole SA</name>
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        <name>Volkswagen International Finance NV</name>
        <lei>5299004PWNHKYTR23649</lei>
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        <name>FHLMC</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2202900424"/>
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        <balance>600000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Synthomer plc</name>
        <lei>213800EHT3TI1KPQQJ56</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Group BV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nidda Healthcare Holding GmbH</name>
        <lei>549300Q89C4WAO6L0L19</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-30</maturityDt>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
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        <title>Cooperatieve Rabobank UA</title>
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          <isin value="XS2050933972"/>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-29</maturityDt>
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      <invstOrSec>
        <name>EC Finance plc</name>
        <lei>213800NKPB53RHYDQE45</lei>
        <title>EC Finance plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
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      <invstOrSec>
        <name>Chase Mortgage Finance Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Cote d'Ivoire</name>
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        <title>Republic of Cote d'Ivoire</title>
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      <invstOrSec>
        <name>Deephaven Residential Mortgage Trust</name>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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      <invstOrSec>
        <name>Petronas Capital Ltd.</name>
        <lei>549300G7YFX3540OYR85</lei>
        <title>Petronas Capital Ltd.</title>
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        <name>JPMorgan U.S. Government Money Market Fund</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc., Series M</title>
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        <name>Renk AG</name>
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        <name>TotalEnergies SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TotalEnergies SE</title>
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        <name>Ziggo Bond Co. BV</name>
        <lei>213800JYI4P7V5QDOG59</lei>
        <title>Ziggo Bond Co. BV</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4839, Class WS</title>
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        <name>BBVA Bancomer SA</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>WMG Acquisition Corp.</name>
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        <name>Rio Tinto Finance USA Ltd.</name>
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        <name>Casino Guichard Perrachon SA</name>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>TUI Cruises GmbH</name>
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        <name>FHLMC</name>
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        <name>Iberdrola International BV</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>OCP SA</name>
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        <name>UAE International Government Bond</name>
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        <name>Republic of Cote d'Ivoire</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>Svenska Handelsbanken AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
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        <name>FHLMC</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Infrastrutture Wireless Italiane SpA</name>
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        <name>Altice Finco SA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Republic of Kenya</name>
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        <name>FNMA</name>
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        <name>African Export-Import Bank (The)</name>
        <lei>21380068LJCDYA42GJ76</lei>
        <title>African Export-Import Bank (The)</title>
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      <invstOrSec>
        <name>Volvo Car AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Her Majesty The Queen In Right of New Zealand</name>
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        <title>New Zealand Government Bond</title>
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          <isin value="NZGOVDT437C0"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30296WAG42"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CT Investment GmbH</name>
        <lei>529900VYBTC7HKBCNB72</lei>
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          <isin value="XS2336345140"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elis SA</name>
        <lei>969500UX71LCE8MAY492</lei>
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          <isin value="FR0013449998"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Novelis Sheet Ingot GmbH</name>
        <lei>9845005E95899E77AY49</lei>
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          <isin value="XS2326533614"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alpha Bank SA</name>
        <lei>213800DBQIB6VBNU5C64</lei>
        <title>Alpha Bank SA</title>
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        <identifiers>
          <isin value="XS1762980065"/>
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        <balance>780000.00000000</balance>
        <units>PA</units>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-K728, Class C</title>
        <cusip>30305GAU7</cusip>
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          <isin value="US30305GAU76"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108870.33000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.76663680</annualizedRt>
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      <invstOrSec>
        <name>Ziggo BV</name>
        <lei>213800TQASLF9JXH5J59</lei>
        <title>Ziggo BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1493836461"/>
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        <balance>160000.00000000</balance>
        <units>PA</units>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>03846JAB6</cusip>
        <identifiers>
          <isin value="US03846JAB61"/>
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        <balance>386000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>327617.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0813211010"/>
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        <balance>400000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000140</annualizedRt>
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      <invstOrSec>
        <name>Leviathan Bond Ltd.</name>
        <lei>254900D9T8VKYVQNZ220</lei>
        <title>Leviathan Bond Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IL0011677825"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209912.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>VMware, Inc.</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMware, Inc.</title>
        <cusip>928563AL9</cusip>
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          <isin value="US928563AL97"/>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>282407.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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        <name>Leviathan Bond Ltd.</name>
        <lei>254900D9T8VKYVQNZ220</lei>
        <title>Leviathan Bond Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="IL0011677742"/>
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        <balance>200000.00000000</balance>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-30</maturityDt>
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      <invstOrSec>
        <name>UPC Holding BV</name>
        <lei>213800G1DU7LKI6ZCD69</lei>
        <title>UPC Holding BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1629969327"/>
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        <balance>400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Ardagh Packaging Finance plc</name>
        <lei>N/A</lei>
        <title>Ardagh Packaging Finance plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2189356996"/>
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        <balance>300000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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          <annualizedRt>2.12500000</annualizedRt>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1953271225"/>
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        <balance>200000.00000000</balance>
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        <valUSD>241962.05000000</valUSD>
        <pctVal>0.078870014144</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.87499840</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cheplapharm Arzneimittel GmbH</name>
        <lei>529900ONXKBELT7EW052</lei>
        <title>Cheplapharm Arzneimittel GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2243548273"/>
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        <name>Kenbourne Invest SA</name>
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        <name>Kansas City Southern</name>
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        <name>Republic of Indonesia</name>
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        <name>US Auto Funding</name>
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        <name>OCI NV</name>
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        <name>SIG plc</name>
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        <name>Grifols SA</name>
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        <name>Kaixo Bondco Telecom SA</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Dominican Republic</name>
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        <name>KBC Group NV</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Ardagh Metal Packaging Finance USA LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Guara Norte SARL</name>
        <lei>549300U2I4L03BBA3485</lei>
        <title>Guara Norte SARL</title>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ABQ Finance Ltd.</name>
        <lei>549300EKNBMBS9DNYE37</lei>
        <title>ABQ Finance Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="XS1569829200"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-22</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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          <isin value="US404119BZ18"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>155522.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <title>AT&amp;T, Inc.</title>
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          <isin value="US00206RKJ04"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-15</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Nidda BondCo GmbH</name>
        <lei>391200JPUEK6AMI9PQ76</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS1690645129"/>
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        <balance>675000.00000000</balance>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-30</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jaguar Land Rover Automotive plc</name>
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          <isin value="XS1881005976"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>NTPC Ltd.</name>
        <lei>335800Q4TRGJXNLVMB81</lei>
        <title>NTPC Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="XS1967614469"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208662.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-03</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US12544MAA71"/>
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        <balance>49048.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32742.19000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087M35</cusip>
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          <isin value="CA135087M359"/>
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        <balance>7676000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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      <invstOrSec>
        <name>Loxam SAS</name>
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        <title>Loxam SAS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1975699569"/>
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        <balance>300000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit-Based Asset Servicing and Securitization LLC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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        <name>BANK</name>
        <lei>N/A</lei>
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          <isin value="US065405AH54"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2052-02-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Solvay Finance SACA</name>
        <lei>549300850GMPCX5CK282</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Leonardo SpA</name>
        <lei>529900X4EEX1U9LN3U39</lei>
        <title>Leonardo SpA</title>
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        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Altice France Holding SA</name>
        <lei>5299000JVHXKJPOE6H40</lei>
        <title>Altice France Holding SA</title>
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          <isin value="XS2138134809"/>
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        <balance>123000.00000000</balance>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MAX3</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-30</maturityDt>
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          <annualizedRt>3.30000000</annualizedRt>
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        <name>IHO Verwaltungs GmbH</name>
        <lei>529900JL0HDVGZMUJF32</lei>
        <title>IHO Verwaltungs GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1490159495"/>
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        <balance>125000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Zurich Insurance Co. Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
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          <isin value="US23343GAG73"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enel Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CD Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US12515ABJ88"/>
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        <balance>21000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2049-11-10</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
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        <cusip>N/A</cusip>
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          <isin value="FR0013063385"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-30</maturityDt>
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          <annualizedRt>2.75000125</annualizedRt>
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      <invstOrSec>
        <name>Faurecia SE</name>
        <lei>969500F0VMZLK2IULV85</lei>
        <title>Faurecia SE</title>
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          <isin value="XS2209344543"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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      <invstOrSec>
        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
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        <title>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="85753"/>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>ContourGlobal Power Holdings SA</name>
        <lei>549300O5AGIFK0PQ1516</lei>
        <title>ContourGlobal Power Holdings SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS1859543073"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>British Telecommunications plc</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>British Telecommunications plc</title>
        <cusip>N/A</cusip>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2080-08-18</maturityDt>
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          <annualizedRt>1.87400125</annualizedRt>
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      <invstOrSec>
        <name>Takeda Pharmaceutical Co. Ltd.</name>
        <lei>549300ZLMVP4X0OGR454</lei>
        <title>Takeda Pharmaceutical Co. Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="XS2197348597"/>
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        <balance>600000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-09</maturityDt>
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          <annualizedRt>1.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
        <cusip>80281LAQ8</cusip>
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        <balance>400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-14</maturityDt>
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      <invstOrSec>
        <name>Parts Europe SA</name>
        <lei>969500DL3O9K7T2M4M15</lei>
        <title>Parts Europe SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS2205088896"/>
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        <balance>400000.00000000</balance>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-16</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
        <cusip>904678AY5</cusip>
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          <isin value="US904678AY53"/>
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        <balance>200000.00000000</balance>
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        <valUSD>197997.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-03</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2012-133, Class NS</title>
        <cusip>3136AAZZ1</cusip>
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          <isin value="US3136AAZZ15"/>
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        <valUSD>35462.77000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>780097BE0</cusip>
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          <isin value="US780097BE04"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>237790.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
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          <annualizedRt>3.49800120</annualizedRt>
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      <invstOrSec>
        <name>Serbia International Bond</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Republic of Serbia</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2015296549"/>
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        <balance>230000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RS</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>APT Pipelines Ltd.</name>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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          <isin value="US17324DAA28"/>
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          <maturityDt>2048-09-15</maturityDt>
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        <name>BK LC Lux Finco1 SARL</name>
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        <name>Republic of Ghana</name>
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        <name>Competition Team Technologies Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Petroleos Mexicanos</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>NatWest Group plc</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>BANK</name>
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        <name>Upjohn Finance BV</name>
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        <name>N/A</name>
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        <name>State of Israel</name>
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        <name>Heathrow Funding Ltd.</name>
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        <invCountry>JE</invCountry>

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        <name>Duquesne Light Holdings, Inc.</name>
        <lei>4CUJ1D8WDXK9X7QI6B93</lei>
        <title>Duquesne Light Holdings, Inc.</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Drive Auto Receivables Trust, Series 2018-3, Class D</title>
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          <isin value="US26208KAG58"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Techem Verwaltungsgesellschaft 674 mbH</name>
        <lei>549300W2QKB8BC676O97</lei>
        <title>Techem Verwaltungsgesellschaft 674 mbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1859258383"/>
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        <balance>219799.47000000</balance>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2017-31, Class SG</title>
        <cusip>3136AWKF3</cusip>
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          <isin value="US3136AWKF36"/>
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        <balance>920438.66400000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.00800040</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="WNH2COS"/>
          <other otherDesc="Future Ticker" value="WNH2 Comdty"/>
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        <balance>-61.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-330032.64000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>United States of America</issuerName>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FL6S8</cusip>
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        <balance>850000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Fomento Economico Mexicano SAB de CV</name>
        <lei>549300A8MDWDJNMLV153</lei>
        <title>Fomento Economico Mexicano SAB de CV</title>
        <cusip>344419AC0</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159837.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
        <cusip>904678AW9</cusip>
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          <isin value="US904678AW97"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195200.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-03</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>La Financiere Atalian SASU</name>
        <lei>969500ICOLJMB33J0L87</lei>
        <title>La Financiere Atalian SASU</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1605600532"/>
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        <balance>350000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Schaeffler AG</name>
        <lei>549300Q7E782X7GC1P43</lei>
        <title>Schaeffler AG</title>
        <cusip>N/A</cusip>
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          <isin value="DE000A2YB7B5"/>
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        <balance>450000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-26</maturityDt>
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          <annualizedRt>2.87500000</annualizedRt>
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        <name>KBC Group NV</name>
        <lei>213800X3Q9LSAKRUWY91</lei>
        <title>KBC Group NV</title>
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          <isin value="BE0002638196"/>
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        <balance>400000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-05</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FREMF</name>
        <lei>N/A</lei>
        <title>FREMF, Series 2018-KF46, Class B</title>
        <cusip>302955AC3</cusip>
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          <isin value="US302955AC35"/>
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        <balance>314103.36060000</balance>
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        <curCd>USD</curCd>
        <valUSD>306140.34000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.03749920</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2019-42, Class SK</title>
        <cusip>3136B5VS1</cusip>
        <identifiers>
          <isin value="US3136B5VS18"/>
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        <balance>691658.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120570.31000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.95800000</annualizedRt>
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        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
        <cusip>337738AY4</cusip>
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          <isin value="XS1843434108"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
        <cusip>86562MCA6</cusip>
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          <isin value="US86562MCA62"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>459022.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-08</maturityDt>
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          <annualizedRt>1.47400000</annualizedRt>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
        <lei>N/A</lei>
        <title>Flagship Credit Auto Trust, Series 2017-2, Class E</title>
        <cusip>33844HAJ2</cusip>
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          <isin value="US33844HAJ23"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>384137.36000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Assicurazioni Generali SpA</name>
        <lei>549300X5UKJVE386ZB61</lei>
        <title>Assicurazioni Generali SpA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1311440082"/>
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        <balance>200000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88175645"/>
        <valUSD>271197.34000000</valUSD>
        <pctVal>0.088399557045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.49999885</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>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa</title>
        <cusip>836205AU8</cusip>
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          <isin value="US836205AU87"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238920.00000000</valUSD>
        <pctVal>0.077878426717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VGK4</cusip>
        <identifiers>
          <isin value="US92343VGK44"/>
        </identifiers>
        <balance>255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271049.59000000</valUSD>
        <pctVal>0.088351396415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="85259"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>550113.25000000</valUSD>
        <pctVal>0.179315061219</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BNP Paribas</counterpartyName>
              <counterpartyLei>R0MUWSFPU8MPRO8K5P83</counterpartyLei>
            </counterparties>
            <amtCurSold>17310307.74000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>20182089.53000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2021-12-03</settlementDt>
            <unrealizedAppr>550113.25000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0271428333"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>221488.80000000</valUSD>
        <pctVal>0.072196548131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.99999840</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>Hungary</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>445545AN6</cusip>
        <identifiers>
          <isin value="US445545AN69"/>
        </identifiers>
        <balance>466000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441499.54000000</valUSD>
        <pctVal>0.143911307432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</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>Dominican Republic</name>
        <lei>N/A</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>25714PEG9</cusip>
        <identifiers>
          <isin value="US25714PEG90"/>
        </identifiers>
        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157987.50000000</valUSD>
        <pctVal>0.051497647501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</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>Huarong Finance 2017 Co. Ltd.</name>
        <lei>5493006V07LYI3HE6G83</lei>
        <title>Huarong Finance 2017 Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1711550373"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197000.00000000</valUSD>
        <pctVal>0.064214172373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Finance Department Government of Sharjah</name>
        <lei>254900ZNL8O3F1CLJO24</lei>
        <title>Finance Department Government of Sharjah</title>
        <cusip>38381CAB8</cusip>
        <identifiers>
          <isin value="US38381CAB81"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>359500.00000000</valUSD>
        <pctVal>0.117182715574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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="CNY is confirmed. CNY is an abbreviation for Chinese Yuan for when traded is on-shore markets." noteItem="C.2.b"/>








      <explntrNote note="CNY is confirmed. CNY is an abbreviation for Chinese Yuan for when traded is on-shore markets." noteItem="C.11.e.i"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>J.P. Morgan Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
