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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Benin Government International Bond</name>
        <lei>635400Q11P6AE5A5Y230</lei>
        <title>Benin Government Bond</title>
        <cusip>08205QAA6</cusip>
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          <isin value="US08205QAA67"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>473850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BJ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-13</maturityDt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2022-A, Class C</title>
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          <isin value="US68378NAC48"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>765766.53000000</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>2031-06-09</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140X8XH5</cusip>
        <identifiers>
          <isin value="US3140X8XH53"/>
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        <balance>13390815.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10575156.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
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          <isin value="US11135FBH38"/>
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        <balance>7150000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Nordstrom, Inc.</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>Nordstrom, Inc.</title>
        <cusip>655664AT7</cusip>
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          <isin value="US655664AT70"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302250.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, Other</title>
        <cusip>3133LWAC6</cusip>
        <identifiers>
          <isin value="US3133LWAC64"/>
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        <balance>1946413.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1849408.81000000</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>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172AM1</cusip>
        <identifiers>
          <isin value="US718172AM11"/>
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        <balance>345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>294163.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>HINNT LLC</name>
        <lei>N/A</lei>
        <title>HINNT LLC, Series 2022-A, Class E</title>
        <cusip>40486JAE7</cusip>
        <identifiers>
          <isin value="US40486JAE73"/>
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        <balance>1279822.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1239631.45000000</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>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
        <lei>549300ZF1NDXLMCHNO20</lei>
        <title>Garda World Security Corp.</title>
        <cusip>36485MAK5</cusip>
        <identifiers>
          <isin value="US36485MAK53"/>
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        <balance>1010000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>996988.07000000</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>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967LW9</cusip>
        <identifiers>
          <isin value="US172967LW98"/>
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        <balance>1295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1274405.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.07500000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sonic Automotive, Inc.</name>
        <lei>549300NTLRGJ2JCBZU03</lei>
        <title>Sonic Automotive, Inc.</title>
        <cusip>83545GBD3</cusip>
        <identifiers>
          <isin value="US83545GBD34"/>
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        <balance>1450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1385090.61000000</valUSD>
        <pctVal>0.021366333987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Buckeye Partners LP</name>
        <lei>549300C1PQJLVEIUBK50</lei>
        <title>Buckeye Partners LP</title>
        <cusip>118230AV3</cusip>
        <identifiers>
          <isin value="US118230AV39"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1131003.50000000</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>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TotalEnergies Capital International SA</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>TotalEnergies Capital International SA</title>
        <cusip>89153VAU3</cusip>
        <identifiers>
          <isin value="US89153VAU35"/>
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        <balance>924000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>632015.36000000</valUSD>
        <pctVal>0.009749435285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.46100000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H05, Class FC</title>
        <cusip>38375UUV0</cusip>
        <identifiers>
          <isin value="US38375UUV06"/>
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        <balance>116781.74630000</balance>
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        <curCd>USD</curCd>
        <valUSD>117117.28000000</valUSD>
        <pctVal>0.001806644924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-02-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.91343840</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA/FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA/FHLMC UMBS, Single Family, 30 Year</title>
        <cusip>01F052672</cusip>
        <identifiers>
          <isin value="US01F0526727"/>
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        <balance>55000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54395717.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Corp. Nacional del Cobre de Chile</name>
        <lei>549300UVMBCBCIPSUI70</lei>
        <title>Corp. Nacional del Cobre de Chile</title>
        <cusip>21987BBK3</cusip>
        <identifiers>
          <isin value="US21987BBK35"/>
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        <balance>637000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>650934.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.44000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2U6</cusip>
        <identifiers>
          <isin value="US95000U2U64"/>
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        <balance>2340000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2098801.43000000</valUSD>
        <pctVal>0.032375999087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>FREMF 2019-KC07 Mortgage Trust</name>
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        <name>Hungary</name>
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        <name>Nexstar Media, Inc.</name>
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        <name>Home RE Ltd.</name>
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        <name>Adient Global Holdings Ltd.</name>
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        <name>Morgan Stanley</name>
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        <name>Iron Mountain, Inc.</name>
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        <name>AMSR Trust</name>
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        <name>FirstEnergy Transmission LLC</name>
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        <name>FNMA</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>RFT TRUST</name>
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      <invstOrSec>
        <name>Expand Energy Corp.</name>
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        <title>Expand Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>VOLT XCIV LLC</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
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        <name>FREMF 2020-K122 Mortgage Trust</name>
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        <name>Evergy Kansas Central, Inc.</name>
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        <name>Principal Financial Group, Inc.</name>
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      <invstOrSec>
        <name>GAM Re-REMIC Trust</name>
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        <name>FNMA</name>
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        <name>Merck &amp; Co., Inc.</name>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <name>RTX Corp.</name>
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        <title>RTX Corp.</title>
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      <invstOrSec>
        <name>Porsche Financial Auto Securitization Trust</name>
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        <name>Clarios Global LP</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2021-M8, Class A2</title>
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      <invstOrSec>
        <name>FMC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>FMC GMSR Issuer Trust, Series 2022-GT1, Class A</title>
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          <isin value="US30259RAM79"/>
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        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6998352.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
        <cusip>404119CL1</cusip>
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          <isin value="US404119CL13"/>
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        <balance>6090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4762564.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AH0</cusip>
        <identifiers>
          <isin value="US428102AH01"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171673.48000000</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>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, STRIPS, Series 406</title>
        <cusip>3133Q3G96</cusip>
        <identifiers>
          <isin value="US3133Q3G964"/>
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        <balance>2926555.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2362133.52000000</valUSD>
        <pctVal>0.036438145884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>Xerox Holdings Corp.</name>
        <lei>5493000Y33XDVO2CXC18</lei>
        <title>Xerox Holdings Corp.</title>
        <cusip>98421MAC0</cusip>
        <identifiers>
          <isin value="US98421MAC01"/>
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        <balance>480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>323439.74000000</valUSD>
        <pctVal>0.004989364204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
        <cusip>911365BL7</cusip>
        <identifiers>
          <isin value="US911365BL76"/>
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        <balance>1195000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1187637.01000000</valUSD>
        <pctVal>0.018320425268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>00084DAW0</cusip>
        <identifiers>
          <isin value="US00084DAW02"/>
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        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1568107.44000000</valUSD>
        <pctVal>0.024189541860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.47000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2391395154"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>681200.00000000</valUSD>
        <pctVal>0.010508154922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140NXVA8</cusip>
        <identifiers>
          <isin value="US3140NXVA85"/>
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        <balance>9946581.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10184582.59000000</valUSD>
        <pctVal>0.157106828655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.22000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
        <cusip>87470LAG6</cusip>
        <identifiers>
          <isin value="US87470LAG68"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394454.86000000</valUSD>
        <pctVal>0.006084839663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pricoa Global Funding I</name>
        <lei>635400IBXEBMD9ADYA79</lei>
        <title>Pricoa Global Funding I</title>
        <cusip>74153WCT4</cusip>
        <identifiers>
          <isin value="US74153WCT45"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177307.12000000</valUSD>
        <pctVal>0.002735130190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</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>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2022-4, Class C</title>
        <cusip>80286FAE3</cusip>
        <identifiers>
          <isin value="US80286FAE34"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5014899.50000000</valUSD>
        <pctVal>0.077359572619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967LD1</cusip>
        <identifiers>
          <isin value="US172967LD18"/>
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        <balance>1115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1100388.34000000</valUSD>
        <pctVal>0.016974531931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.88700000</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>Serbia International Bond</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Republic of Serbia</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2580270275"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1032000.00000000</valUSD>
        <pctVal>0.015919577041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RS</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>RCO Mortgage LLC</name>
        <lei>N/A</lei>
        <title>RCO Mortgage LLC, Series 2025-2, Class A1</title>
        <cusip>754930AA3</cusip>
        <identifiers>
          <isin value="US754930AA39"/>
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        <balance>7896178.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7917227.71000000</valUSD>
        <pctVal>0.122130733023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.51309840</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>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR3, Class F2</title>
        <cusip>33768EAS1</cusip>
        <identifiers>
          <isin value="US33768EAS19"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2752861.20000000</valUSD>
        <pctVal>0.042465490268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-17</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sensata Technologies, Inc.</name>
        <lei>5493002MMDDCUNV7NY90</lei>
        <title>Sensata Technologies, Inc.</title>
        <cusip>81728UAC8</cusip>
        <identifiers>
          <isin value="US81728UAC80"/>
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        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>423756.90000000</valUSD>
        <pctVal>0.006536851372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NCR Voyix Corp.</name>
        <lei>549300YKTY8JX1DV2R67</lei>
        <title>NCR Voyix Corp.</title>
        <cusip>62886EAY4</cusip>
        <identifiers>
          <isin value="US62886EAY41"/>
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        <balance>1145000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1129274.46000000</valUSD>
        <pctVal>0.017420127680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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        <balance>2874000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2204044.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.73400000</annualizedRt>
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      <invstOrSec>
        <name>BMD2 Re-Remic Trust</name>
        <lei>N/A</lei>
        <title>BMD2 Re-REMIC Trust, Series 2019-FRR1, Class 6C</title>
        <cusip>055631CJ2</cusip>
        <identifiers>
          <isin value="US055631CJ24"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1831157.75000000</valUSD>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LKZL0</cusip>
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          <isin value="US3140LKZL02"/>
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        <balance>2500000.00000000</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>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.09000000</annualizedRt>
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      <invstOrSec>
        <name>NRM FHT1 Excess Owner LLC</name>
        <lei>N/A</lei>
        <title>NRM FHT1 Excess Owner LLC, Series 2025-FHT1, Class A</title>
        <cusip>64832EAA7</cusip>
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          <isin value="US64832EAA73"/>
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        <balance>23409557.26000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23182545.42000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-25</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140NWPK5</cusip>
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          <isin value="US3140NWPK58"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2017808.14000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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          <isin value="US3140QEJ948"/>
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        <balance>1865648.49000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Flex Intermediate Holdco LLC</name>
        <lei>549300290TQIGM30A243</lei>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13116.88000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.36300000</annualizedRt>
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      <invstOrSec>
        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating LLC</title>
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        <balance>283000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279221.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa</title>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>862000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
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      <invstOrSec>
        <name>MFA Trust</name>
        <lei>N/A</lei>
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          <isin value="US58004YAA73"/>
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        <balance>2244594.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2246073.93000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.32999880</annualizedRt>
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      <invstOrSec>
        <name>American Homes 4 Rent Trust</name>
        <lei>N/A</lei>
        <title>American Homes 4 Rent Trust, Series 2015-SFR2, Class A</title>
        <cusip>02666BAA4</cusip>
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          <isin value="US02666BAA44"/>
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        <balance>85079.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84563.55000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>68377GAC0</cusip>
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          <isin value="US68377GAC06"/>
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        <curCd>USD</curCd>
        <valUSD>2055110.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617FDD67</cusip>
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          <isin value="US3617FDD679"/>
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        <balance>961583.65000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <balance>860000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.57400000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3138ELWE9</cusip>
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          <isin value="US3138ELWE97"/>
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        <balance>85882.99000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
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        <balance>1715000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
        <cusip>737446AP9</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>987583.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FREMF 2019-K92 Mortgage Trust</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>FNMA</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.68988320</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
        <title>Coterra Energy, Inc.</title>
        <cusip>127097AG8</cusip>
        <identifiers>
          <isin value="US127097AG80"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29547.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ADA0</cusip>
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          <isin value="US87264ADA07"/>
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        <balance>2140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2162894.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2024-4, Class D</title>
        <cusip>802919AF7</cusip>
        <identifiers>
          <isin value="US802919AF77"/>
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        <balance>2230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2240566.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.32000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lending Funding Trust</name>
        <lei>N/A</lei>
        <title>Lending Funding Trust, Series 2020-2A, Class A</title>
        <cusip>51507KAA4</cusip>
        <identifiers>
          <isin value="US51507KAA43"/>
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        <balance>3750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3634153.88000000</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>2031-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.32000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
        <cusip>019736AF4</cusip>
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          <isin value="US019736AF46"/>
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        <balance>1096000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tucson Electric Power Co.</name>
        <lei>YLF139GXSRKPBBTNZL03</lei>
        <title>Tucson Electric Power Co.</title>
        <cusip>898813AV2</cusip>
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          <isin value="US898813AV23"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106305.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LLKJ9</cusip>
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          <isin value="US3140LLKJ93"/>
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        <balance>2496044.54000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2534028.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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 2005-110, Class TY</title>
        <cusip>31394UV58</cusip>
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          <isin value="US31394UV582"/>
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        <balance>30055.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31141.31000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2021-86, Class MA</title>
        <cusip>3136BKYY2</cusip>
        <identifiers>
          <isin value="US3136BKYY22"/>
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        <balance>20785666.78000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18689793.96000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>Duke Energy Florida LLC</title>
        <cusip>26444HAQ4</cusip>
        <identifiers>
          <isin value="US26444HAQ48"/>
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        <balance>230000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2022-M1, Class A1</title>
        <cusip>3136BKF64</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.66839120</annualizedRt>
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      <invstOrSec>
        <name>LYB International Finance III LLC</name>
        <lei>984500A51LA0B8EB4053</lei>
        <title>LYB International Finance III LLC</title>
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          <isin value="US50249AAH68"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279353.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Block, Inc.</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block, Inc.</title>
        <cusip>852234AS2</cusip>
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          <isin value="US852234AS26"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2023-1, Class MT</title>
        <cusip>35563PK73</cusip>
        <identifiers>
          <isin value="US35563PK730"/>
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        <balance>2763172.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2294692.59000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>FREMF 2018-K081 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K81, Class D</title>
        <cusip>30297HAL5</cusip>
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          <isin value="US30297HAL50"/>
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        <balance>9500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7061140.05000000</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>2051-09-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140HYCD8</cusip>
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          <isin value="US3140HYCD82"/>
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        <balance>316843.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>269186.87000000</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>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.82000000</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>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133ASZ97</cusip>
        <identifiers>
          <isin value="US3133ASZ976"/>
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        <balance>3592778.75000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2968631.09000000</valUSD>
        <pctVal>0.045793945100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140QLRX6</cusip>
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        <curCd>USD</curCd>
        <valUSD>4367519.96000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSC Holdings LLC</name>
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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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      <invstOrSec>
        <name>Wrangler Holdco Corp.</name>
        <lei>N/A</lei>
        <title>Wrangler Holdco Corp.</title>
        <cusip>37441QAA9</cusip>
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          <isin value="US37441QAA94"/>
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        <balance>645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>665240.10000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>FMC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>FMC GMSR Issuer Trust, Series 2022-GT1, Class B</title>
        <cusip>30259RAN5</cusip>
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          <isin value="US30259RAN52"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-25</maturityDt>
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      <invstOrSec>
        <name>SCE Recovery Funding LLC</name>
        <lei>N/A</lei>
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          <isin value="US78433LAG14"/>
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        <balance>46127.23000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43996.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alumina Pty. Ltd.</name>
        <lei>N/A</lei>
        <title>Alumina Pty. Ltd.</title>
        <cusip>02220AAB3</cusip>
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          <isin value="US02220AAB35"/>
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        <balance>562000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Auto Credit Securitization Trust</name>
        <lei>N/A</lei>
        <title>United Auto Credit Securitization Trust, Series 2022-2, Class E</title>
        <cusip>90944KAF2</cusip>
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          <isin value="US90944KAF21"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-10</maturityDt>
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          <annualizedRt>10.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Central Garden &amp; Pet Co.</name>
        <lei>5493004DVZLD37DJ0H83</lei>
        <title>Central Garden &amp; Pet Co.</title>
        <cusip>153527AN6</cusip>
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          <isin value="US153527AN61"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>698208.45000000</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>2030-10-15</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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          <isin value="US71643VAB18"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>937545.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140NWLV5</cusip>
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          <isin value="US3140NWLV59"/>
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        <balance>11300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10969113.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DB2</cusip>
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          <isin value="US718172DB29"/>
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        <balance>1545000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>Oncor Electric Delivery Co. LLC</title>
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          <isin value="US68233JCM45"/>
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        <balance>400000.00000000</balance>
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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>2052-09-15</maturityDt>
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        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
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        <balance>5560000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XKHF0</cusip>
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          <isin value="US3140XKHF08"/>
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        <balance>1262927.60000000</balance>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2052-09-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Eaton Corp.</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>Eaton Corp.</title>
        <cusip>278062AH7</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Hologic, Inc.</name>
        <lei>549300DYP6F5ZJL0LB74</lei>
        <title>Hologic, Inc.</title>
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        <balance>605000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
        <cusip>019736AG2</cusip>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>68081.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Iraq</name>
        <lei>N/A</lei>
        <title>Republic of Iraq</title>
        <cusip>N/A</cusip>
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          <isin value="XS0240295575"/>
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        <balance>862500.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Ahead DB Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>JBS USA LUX SARL</name>
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        <name>FHF Issuer Trust</name>
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        <curCd>USD</curCd>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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          <maturityDt>2060-05-25</maturityDt>
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      <invstOrSec>
        <name>Albertsons Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Albertsons Cos., Inc.</title>
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          <isin value="US013092AC57"/>
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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>2027-01-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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      <invstOrSec>
        <name>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
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        <balance>540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>539361.89000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-1520, Class X3</title>
        <cusip>3137FYTZ9</cusip>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.09299760</annualizedRt>
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        <name>PG&amp;E Wildfire Recovery Funding LLC</name>
        <lei>N/A</lei>
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          <isin value="US693342AB30"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.26300000</annualizedRt>
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      <invstOrSec>
        <name>JBS USA Holding Lux SARL</name>
        <lei>N/A</lei>
        <title>JBS USA Holding Lux SARL</title>
        <cusip>46590XAP1</cusip>
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        <balance>910000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Republic of Paraguay</name>
        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Republic of Paraguay</title>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-11</maturityDt>
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          <annualizedRt>6.10000000</annualizedRt>
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        <name>Mauser Packaging Solutions Holding Co.</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co.</title>
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          <isin value="US57763RAD98"/>
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          <maturityDt>2027-04-15</maturityDt>
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          <annualizedRt>7.87500000</annualizedRt>
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        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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        <invCountry>JP</invCountry>
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          <maturityDt>2031-07-02</maturityDt>
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          <annualizedRt>5.13600000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury STRIPS Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>None</couponKind>
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        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
        <cusip>713448FG8</cusip>
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        <balance>415000.00000000</balance>
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        <valUSD>252426.92000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fells Point Funding Trust</name>
        <lei>N/A</lei>
        <title>Fells Point Funding Trust</title>
        <cusip>314382AA0</cusip>
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          <isin value="US314382AA01"/>
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        <balance>1570000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.04600000</annualizedRt>
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      <invstOrSec>
        <name>Lamar Media Corp.</name>
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      <invstOrSec>
        <name>Bank of Ireland Group plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kentucky Utilities Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <name>Baltimore Gas and Electric Co.</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>MidAmerican Energy Co.</name>
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        <name>FNMA</name>
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        <name>Allianz SE</name>
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        <name>Purewest ABS Issuer LLC</name>
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        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <name>FHLMC Pool</name>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF 2020-K116 Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30316LAQ23"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61747YFA82"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US912810RD28"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140NUPD59"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREMF 2020-K116 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K116, Class X2A</title>
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          <isin value="US30316LAN91"/>
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        <curCd>USD</curCd>
        <valUSD>459970.90000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
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        <title>Gilead Sciences, Inc.</title>
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          <isin value="US375558BT99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
        <lei>N/A</lei>
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          <isin value="US83002YAA73"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Yinson Boronia Production BV</name>
        <lei>5493007X12FTT746N678</lei>
        <title>Yinson Boronia Production BV</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bastion Funding I LLC</name>
        <lei>549300NX3WVP5ASDEU57</lei>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.11900000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140NMGY7</cusip>
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          <isin value="US3140NMGY71"/>
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          <couponKind>Fixed</couponKind>
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        <name>DH Europe Finance II SARL</name>
        <lei>222100KDGL314CKTZ511</lei>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
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        <name>T-Mobile USA, Inc.</name>
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        <title>T-Mobile USA, Inc.</title>
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        <name>Big River Steel LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FREMF 2018-K83 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K83, Class D</title>
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          <isin value="US302958AS26"/>
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        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Fn 54th ST Owner  sep34</name>
        <lei>N/A</lei>
        <title>Fn 54th ST Owner  sep34</title>
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          <other otherDesc="Inhouse Asset ID" value="99TISCPL1"/>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810QQ4</cusip>
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          <isin value="US912810QQ40"/>
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        <balance>811000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Home Partners of America Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FirstKey Homes Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WESCO Distribution, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-20</maturityDt>
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        <name>FHLMC Pool</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>N/A</lei>
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        <cusip>362948AA9</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US Auto Funding Trust</name>
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          <isin value="US90355FAB40"/>
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        <fairValLevel>3</fairValLevel>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <balance>4650000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>ABL</name>
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        <balance>9525000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-25</maturityDt>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
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        <balance>710000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
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        <balance>1220000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DE6</cusip>
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        <balance>6640000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Penske Truck Leasing Co. LP</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>Credit One Ltd.</name>
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        <name>Petroleos Mexicanos</name>
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        <name>Comcast Corp.</name>
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        <name>South Bow USA Infrastructure Holdings LLC</name>
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        <name>Comcast Corp.</name>
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        <name>AbbVie, Inc.</name>
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        <name>Post Holdings, Inc.</name>
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        <name>GNMA</name>
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        <name>Edison International</name>
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        <name>FHLMC Pool</name>
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        <name>Credit Agricole SA</name>
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        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT, Inc.</title>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>RFT TRUST</name>
        <lei>N/A</lei>
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          <isin value="US76201AAD63"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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          <isin value="US651229AX48"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XPG60</cusip>
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          <isin value="US3140XPG607"/>
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        <balance>3177733.12000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140JBZB5</cusip>
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          <isin value="US3140JBZB58"/>
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        <balance>1096330.37000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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          <isin value="US71654QDD16"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1841000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.69000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Take-Two Interactive Software, Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>Take-Two Interactive Software, Inc.</title>
        <cusip>874054AM1</cusip>
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          <isin value="US874054AM15"/>
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        <balance>616000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TC2</cusip>
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          <isin value="US912810TC27"/>
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        <balance>4730000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</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>FMC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>FMC GMSR Issuer Trust, Series 2022-GT2, Class B</title>
        <cusip>30259RAQ8</cusip>
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          <isin value="US30259RAQ83"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1028817.70000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.07000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FX3N0</cusip>
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          <isin value="US3140FX3N08"/>
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        <balance>9590034.30000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8066356.22000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PRET LLC</name>
        <lei>N/A</lei>
        <title>PRET LLC, Series 2025-NPL3, Class A1</title>
        <cusip>74143HAA3</cusip>
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          <isin value="US74143HAA32"/>
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        <balance>18880068.85000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18819256.15000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.70759920</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K80, Class B</title>
        <cusip>30307RAE7</cusip>
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          <isin value="US30307RAE71"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>971863.10000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
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          <isin value="US25470XBE40"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161540.06000000</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>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2022-2A, Class D</title>
        <cusip>96042VAG4</cusip>
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          <isin value="US96042VAG41"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002100.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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          <annualizedRt>5.48000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LLAY7</cusip>
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          <isin value="US3140LLAY70"/>
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        <balance>2640000.00000000</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>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.46000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
        <cusip>749571AK1</cusip>
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          <isin value="US749571AK15"/>
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        <balance>2020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2047724.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mississippi Power Co.</name>
        <lei>LNZ0J6YZ5SC6ILIRU850</lei>
        <title>Mississippi Power Co., Series 12-A</title>
        <cusip>605417BZ6</cusip>
        <identifiers>
          <isin value="US605417BZ68"/>
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        <balance>240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198207.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617FGLF1</cusip>
        <identifiers>
          <isin value="US3617FGLF12"/>
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        <balance>538257.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>523150.77000000</valUSD>
        <pctVal>0.008070095917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rite Aid Corp.</name>
        <lei>529900W353T1JY1DKT44</lei>
        <title>Rite Aid Corp., Series B</title>
        <cusip>767754CT9</cusip>
        <identifiers>
          <isin value="US767754CT98"/>
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        <name>Octane Receivables Trust</name>
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        <name>Apple, Inc.</name>
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        <name>FNMA</name>
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        <name>Boyne USA, Inc.</name>
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        <name>FREMF 2020-K107 Mortgage Trust</name>
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        <name>Molson Coors Beverage Co.</name>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <name>CCO Holdings LLC</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>TC Ziraat Bankasi A/S</name>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <name>Cigna Group (The)</name>
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        <title>Cigna Group (The)</title>
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        <name>Metropolitan Life Global Funding I</name>
        <lei>635400MMSOCXNNNZDZ82</lei>
        <title>Metropolitan Life Global Funding I</title>
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        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
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        <name>South Bow USA Infrastructure Holdings LLC</name>
        <lei>254900Z1WAY7QFQ7O850</lei>
        <title>South Bow USA Infrastructure Holdings LLC</title>
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        <name>Ecovyst Catalyst Technologies LLC</name>
        <lei>254900NH3N3I82Z6Q744</lei>
        <title>Ecovyst Catalyst Technologies LLC, 1st Lien Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust, Series 2020-AA, Class C</title>
        <cusip>43285HAC2</cusip>
        <identifiers>
          <isin value="US43285HAC25"/>
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        <balance>97182.88820000</balance>
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        <curCd>USD</curCd>
        <valUSD>97702.28000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.42000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>Osmose Utilities Services, Inc.</name>
        <lei>549300FSLVHLFZ3S0D82</lei>
        <title>Osmose Utilities Services, Inc., 1st Lien Term Loan</title>
        <cusip>68835HAH3</cusip>
        <identifiers>
          <isin value="US68835HAH30"/>
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        <balance>1492268.04120000</balance>
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        <curCd>USD</curCd>
        <valUSD>1489283.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.69129000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VistaJet Pass Through Trust</name>
        <lei>N/A</lei>
        <title>VistaJet Pass Through Trust, Series 2021-1C</title>
        <cusip>92841QAA0</cusip>
        <identifiers>
          <isin value="US92841QAA04"/>
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        <balance>5530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5441701.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QNXN7</cusip>
        <identifiers>
          <isin value="US3140QNXN79"/>
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        <balance>6660669.20000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6116381.23000000</valUSD>
        <pctVal>0.094350971127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617WR6M0</cusip>
        <identifiers>
          <isin value="US3617WR6M00"/>
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        <balance>92878.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80949.67000000</valUSD>
        <pctVal>0.001248725298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-20</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>
      <invstOrSec>
        <name>Baltimore Gas and Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
        <title>Baltimore Gas and Electric Co.</title>
        <cusip>059165ES5</cusip>
        <identifiers>
          <isin value="US059165ES50"/>
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        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500750.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</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>Triad Properties Corp.</name>
        <lei>N/A</lei>
        <title>Triad Properties Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="O2CF92E"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>800000.00000000</valUSD>
        <pctVal>0.012340757396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
        <cusip>682691AC4</cusip>
        <identifiers>
          <isin value="US682691AC47"/>
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        <balance>1630000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1528399.82000000</valUSD>
        <pctVal>0.023577014228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, Other</title>
        <cusip>3132XFJC3</cusip>
        <identifiers>
          <isin value="US3132XFJC30"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3681442.88000000</valUSD>
        <pctVal>0.056789741812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.80000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2020-165, Class UD</title>
        <cusip>38382K4T7</cusip>
        <identifiers>
          <isin value="US38382K4T76"/>
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        <balance>654258.09000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492304.55000000</valUSD>
        <pctVal>0.007594263770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
        <cusip>65473PAN5</cusip>
        <identifiers>
          <isin value="US65473PAN50"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280296.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140JBTP1</cusip>
        <identifiers>
          <isin value="US3140JBTP19"/>
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        <balance>23312746.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19877325.27000000</valUSD>
        <pctVal>0.306626561051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.82900160</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>Lendmark Funding Trust</name>
        <lei>N/A</lei>
        <title>Lendmark Funding Trust, Series 2024-2A, Class E</title>
        <cusip>52590AAE4</cusip>
        <identifiers>
          <isin value="US52590AAE47"/>
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        <balance>7303000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7303483.46000000</valUSD>
        <pctVal>0.112663146908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.47000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co.</title>
        <cusip>233331BM8</cusip>
        <identifiers>
          <isin value="US233331BM83"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453627.94000000</valUSD>
        <pctVal>0.006997640444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GYB4</cusip>
        <identifiers>
          <isin value="US38141GYB49"/>
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        <balance>4335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3801522.81000000</valUSD>
        <pctVal>0.058642088417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.61500000</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>
      <invstOrSec>
        <name>FREMF 2023-K752 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2023-K752, Class D</title>
        <cusip>30333RAG0</cusip>
        <identifiers>
          <isin value="US30333RAG02"/>
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        <balance>5300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3386774.73000000</valUSD>
        <pctVal>0.052244206622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5347</title>
        <cusip>3137HANP7</cusip>
        <identifiers>
          <isin value="US3137HANP70"/>
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        <balance>4376302.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3524556.73000000</valUSD>
        <pctVal>0.054369624417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Multi-Family Connecticut Avenue Securities Trust</name>
        <lei>254900QY3MMJFMNKXA93</lei>
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        <cusip>62548RAB5</cusip>
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          <isin value="US62548RAB50"/>
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        <balance>2737000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2840837.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-07-25</maturityDt>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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          <isin value="US06368LNT97"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
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        <cusip>35563PGL7</cusip>
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          <isin value="US35563PGL76"/>
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        <balance>212281.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197135.90000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-08-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc.</title>
        <cusip>18453HAA4</cusip>
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          <isin value="US18453HAA41"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment, Inc.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2024-S1, Class R2</title>
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        <identifiers>
          <isin value="US80286UAB61"/>
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        <balance>1583365.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1584915.83000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.32000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dycom Industries, Inc.</name>
        <lei>549300F56EKTHQI3WT60</lei>
        <title>Dycom Industries, Inc.</title>
        <cusip>267475AD3</cusip>
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          <isin value="US267475AD30"/>
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        <balance>1010000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>971751.20000000</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>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Ohio Power Co.</name>
        <lei>06ZODLC132CY1O2Y7D77</lei>
        <title>Ohio Power Co., Series R</title>
        <cusip>677415CU3</cusip>
        <identifiers>
          <isin value="US677415CU30"/>
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        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132258.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>Oncor Electric Delivery Co. LLC</title>
        <cusip>68233JBR4</cusip>
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          <isin value="US68233JBR41"/>
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        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184653.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>Healthpeak OP LLC</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak OP LLC</title>
        <cusip>42250PAD5</cusip>
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          <isin value="US42250PAD50"/>
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        <balance>64000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58782.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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      <invstOrSec>
        <name>Perrigo Finance Unlimited Co.</name>
        <lei>549300E86RB6YCTMRM83</lei>
        <title>Perrigo Finance Unlimited Co.</title>
        <cusip>71429MAC9</cusip>
        <identifiers>
          <isin value="US71429MAC91"/>
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        <balance>765000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>736474.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.89999960</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YDU0</cusip>
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          <isin value="US00287YDU01"/>
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        <balance>5620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5636321.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>Encompass Health Corp.</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>Encompass Health Corp.</title>
        <cusip>29261AAA8</cusip>
        <identifiers>
          <isin value="US29261AAA88"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177295.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K-151, Class A2</title>
        <cusip>3137H9JG5</cusip>
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          <isin value="US3137H9JG50"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>998552.42000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.80000160</annualizedRt>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
        <cusip>80281LAP0</cusip>
        <identifiers>
          <isin value="US80281LAP04"/>
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        <balance>869000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>764760.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.89600000</annualizedRt>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA</title>
        <cusip>05946KAQ4</cusip>
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        <balance>4800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4913856.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.38100000</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>Northern States Power Co.</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co.</title>
        <cusip>665772CS6</cusip>
        <identifiers>
          <isin value="US665772CS69"/>
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        <balance>368000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214676.83000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lithia Motors, Inc.</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
        <title>Lithia Motors, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OneSky Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <balance>5987709.00000000</balance>
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        <fairValLevel>3</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp., Series N</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-11</maturityDt>
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      <invstOrSec>
        <name>EPIC Crude Services LP</name>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-02-17</maturityDt>
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      <invstOrSec>
        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp., Series I</title>
        <cusip>857477CH4</cusip>
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          <isin value="US857477CH48"/>
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        <balance>814000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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      <invstOrSec>
        <name>Takeda Pharmaceutical Co. Ltd.</name>
        <lei>549300ZLMVP4X0OGR454</lei>
        <title>Takeda Pharmaceutical Co. Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <name>Cinemark USA, Inc.</name>
        <lei>54930008H2137JSCPQ09</lei>
        <title>Cinemark USA, Inc.</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140N0HV0</cusip>
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          <isin value="US3140N0HV05"/>
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        <balance>8383835.40000000</balance>
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      <invstOrSec>
        <name>Clarivate Science Holdings Corp.</name>
        <lei>N/A</lei>
        <title>Clarivate Science Holdings Corp.</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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      <invstOrSec>
        <name>FREMF 2019-KW10 Mortgage Trust</name>
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      <invstOrSec>
        <name>Manulife Financial Corp.</name>
        <lei>5493007GBX87QOZACS27</lei>
        <title>Manulife Financial Corp.</title>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
        <cusip>86562MCS7</cusip>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Duke Energy Ohio, Inc.</name>
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        <name>BPCE SA</name>
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        <name>Carpenter Technology Corp.</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Diamondback Energy, Inc.</name>
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        <name>Progress Residential Trust</name>
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        <name>AAdvantage Loyalty IP Ltd.</name>
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        <name>Protective Life Global Funding</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>Republic of Guatemala</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GoodLeap Home Improvement Solutions Trust</name>
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        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <name>Cigna Group (The)</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Group (The)</title>
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          <isin value="US125523CU21"/>
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        <name>FREMF 2018-K1505 Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Newell Brands, Inc.</name>
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        <name>FNMA</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>FNMA</name>
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        <name>Citigroup, Inc.</name>
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        <name>Elara HGV Timeshare Issuer LLC</name>
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        <name>Banco Santander SA</name>
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        <name>Kinetik Holdings LP</name>
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        <name>Wynn Resorts Finance LLC</name>
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        <name>Public Service Co. of Oklahoma</name>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Elanco Animal Health, Inc.</name>
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        <name>Skandinaviska Enskilda Banken AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DISH Network Corp.</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HCA, Inc.</name>
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        <name>Pioneer Natural Resources Co.</name>
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        <name>Public Service Electric and Gas Co.</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Comision Federal de Electricidad</name>
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        <name>Packaging Corp. of America</name>
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        <name>Dominican Republic</name>
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        <name>INEOS Finance plc</name>
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        <name>Varsity Brands, Inc.</name>
        <lei>N/A</lei>
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        <name>Bank of Nova Scotia (The)</name>
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        <invCountry>CA</invCountry>
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        <name>Invitation Homes Trust</name>
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        <name>L3Harris Technologies, Inc.</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>Barclays plc</name>
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        <name>CFMT LLC</name>
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        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <invCountry>US</invCountry>
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        <name>Progress Residential Trust</name>
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        <name>FNMA</name>
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        <name>RTX Corp.</name>
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        <title>RTX Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Venture Global LNG, Inc.</name>
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        <name>WESCO Distribution, Inc.</name>
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        <name>AMSR Trust</name>
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        <cusip>66981XAG6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617WSNJ6</cusip>
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        <balance>2493928.38000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K136, Class A2</title>
        <cusip>3137H4SH4</cusip>
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        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFM2</cusip>
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        <balance>2000000.00000000</balance>
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        <valUSD>2018596.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-02-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.94200000</annualizedRt>
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        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
        <cusip>60687YDB2</cusip>
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        <balance>270000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.74800000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967NE7</cusip>
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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>2032-11-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.52000000</annualizedRt>
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      <invstOrSec>
        <name>NCR Voyix Corp.</name>
        <lei>549300YKTY8JX1DV2R67</lei>
        <title>NCR Voyix Corp.</title>
        <cusip>62886EBA5</cusip>
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        <balance>1089000.00000000</balance>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967PF2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-13</maturityDt>
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      <invstOrSec>
        <name>Iridium Satellite LLC</name>
        <lei>254900615BJ7139TFM33</lei>
        <title>Iridium Satellite LLC, 1st Lien Term Loan B</title>
        <cusip>46269KAT1</cusip>
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          <isin value="US46269KAT16"/>
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        <balance>964701.77510000</balance>
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        <valUSD>961383.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.57681000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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        <name>USI, Inc.</name>
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        <name>BAMLL Re-REMIC Trust</name>
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        <name>Oracle Corp.</name>
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        <name>Buckeye Partners LP</name>
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        <name>Baxter International, Inc.</name>
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        <name>FREMF 2020-K739 Mortgage Trust</name>
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        <name>Rocket Mortgage LLC</name>
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        <name>Pfizer, Inc.</name>
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        <name>Service Corp. International</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp. International</title>
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        <name>Embarq LLC</name>
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        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2024-SFR2, Class E1</title>
        <cusip>74290XAJ0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.39999840</annualizedRt>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>89114TZJ4</cusip>
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        <name>WP Carey, Inc.</name>
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        <name>Sealed Air Corp.</name>
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        <name>Primo Brands Corp.</name>
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        <name>Arab Republic of Egypt</name>
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        <name>FREMF 2018-K082 Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>Alabama Power Co.</name>
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        <name>FHLMC Pool</name>
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        <name>Capital One Financial Corp.</name>
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        <name>Bank of Ireland Group plc</name>
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        <name>Diamond Resorts Owner Trust</name>
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        <name>Venture Global Calcasieu Pass LLC</name>
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        <title>Venture Global Calcasieu Pass LLC</title>
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        <name>Genesis Energy LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Street Capital Group, Inc.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>TotalEnergies Capital SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SCF Equipment Leasing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Imperial Brands Finance plc</name>
        <lei>2138008L3B3MCG1DFS50</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Live Nation Entertainment, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Community Health Systems, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enel Finance International NV</name>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Indiana LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DTE Electric Securitization Funding II LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
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        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
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        <name>Freeport-McMoRan, Inc.</name>
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        <name>Comision Federal de Electricidad</name>
        <lei>4469000001BFPONMPF32</lei>
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        <invCountry>MX</invCountry>
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        <name>GAM Re-REMIC Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>Calpine Corp.</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
        <title>Calpine Corp.</title>
        <cusip>131347CN4</cusip>
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        <name>BPCE SA</name>
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        <name>FNMA</name>
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        <name>Morgan Stanley</name>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>Encompass Health Corp.</name>
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        <name>DT Auto Owner Trust</name>
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        <name>GNMA</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>Republic of Colombia</name>
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        <name>US Bancorp</name>
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        <name>FNMA</name>
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        <name>Flex Intermediate Holdco LLC</name>
        <lei>549300290TQIGM30A243</lei>
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        <name>GNMA</name>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QXO Building Products, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>Mariner Finance Issuance Trust</name>
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        <name>Southern California Edison Co.</name>
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        <name>Snap, Inc.</name>
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        <name>Quest Diagnostics, Inc.</name>
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        <name>American Tower Corp.</name>
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        <name>AT&amp;T, Inc.</name>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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        <invCountry>CA</invCountry>
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        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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      <invstOrSec>
        <name>Blue Racer Midstream LLC</name>
        <lei>N/A</lei>
        <title>Blue Racer Midstream LLC</title>
        <cusip>095796AK4</cusip>
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        <balance>160000.00000000</balance>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <name>Hess Corp.</name>
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        <name>Republic of Panama</name>
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        <name>Japan Tobacco, Inc.</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <name>Carvana Auto Receivables Trust</name>
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        <name>FREMF 2019-K92 Mortgage Trust</name>
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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>Southern California Edison Co.</name>
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        <title>Southern California Edison Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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          <isin value="US06051GGR48"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-21</maturityDt>
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        <name>Scotts Miracle-Gro Co. (The)</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-28</maturityDt>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Rite Aid Corp.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Ameren Corp.</name>
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        <name>FNMA</name>
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        <name>OGE Energy Corp.</name>
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        <name>Entegris, Inc.</name>
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        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
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        <name>FNMA</name>
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        <name>Spirit AeroSystems, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140QN3N0</cusip>
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        <name>Westpac Banking Corp.</name>
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        <name>FHLMC Pool</name>
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        <title>FHLMC Gold Pools, Other</title>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>S&amp;P Global, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ventas Realty LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lumen Technologies, Inc.</name>
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        <name>Walt Disney Co. (The)</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>AMSR Trust</name>
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          <maturityDt>2037-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-01</maturityDt>
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          <annualizedRt>4.52000000</annualizedRt>
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        <name>UBS Group AG</name>
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        <title>UBS Group AG</title>
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        <curCd>USD</curCd>
        <valUSD>2195918.30000000</valUSD>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.12600000</annualizedRt>
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        <name>FMC GMSR Issuer Trust</name>
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        <cusip>30259RAR6</cusip>
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        <balance>6900000.00000000</balance>
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        <name>Extra Space Storage LP</name>
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          <maturityDt>2030-10-15</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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        <name>Crown Castle, Inc.</name>
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          <annualizedRt>2.90000000</annualizedRt>
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        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource, Inc.</title>
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        <name>Progress Residential</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <name>BAMLL Re-REMIC Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
        <cusip>03073EAU9</cusip>
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        <balance>770000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
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          <isin value="US378272BU12"/>
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        <balance>10770000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63400000</annualizedRt>
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      <invstOrSec>
        <name>Packaging Corp. of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
        <title>Packaging Corp. of America</title>
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          <isin value="US695156AV10"/>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GGL77"/>
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        <balance>1205000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.70500000</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 2019-KG01, Class X2B</title>
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          <isin value="US30298CAQ42"/>
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        <balance>16000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50542.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-25</maturityDt>
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          <annualizedRt>0.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <balance>2500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.27000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
        <cusip>62482BAA0</cusip>
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          <isin value="US62482BAA08"/>
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        <balance>4240000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPCK7</cusip>
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        <balance>3950000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617FL5S0</cusip>
        <identifiers>
          <isin value="US3617FL5S03"/>
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        <balance>6451098.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6213585.10000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 19K-1510, Class C</title>
        <cusip>30265DAG3</cusip>
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          <isin value="US30265DAG34"/>
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        <balance>10000000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2034-01-25</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558BZ5</cusip>
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          <isin value="US375558BZ59"/>
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        <balance>2580000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>HGI CRE CLO Ltd.</name>
        <lei>N/A</lei>
        <title>HGI CRE CLO Ltd., Series 2022-FL3, Class E</title>
        <cusip>403950AJ7</cusip>
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          <isin value="US403950AJ70"/>
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        <balance>663500.00000000</balance>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YDX4</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Multi-Family Structured Credit Risk</name>
        <lei>N/A</lei>
        <title>FHLMC, Multi-Family Structured Credit Risk, Series 2021-MN3, Class M1</title>
        <cusip>35563GAA7</cusip>
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          <isin value="US35563GAA76"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.62196960</annualizedRt>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc.</title>
        <cusip>606822BY9</cusip>
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          <isin value="US606822BY90"/>
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        <balance>1060000.00000000</balance>
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        <valUSD>1023660.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.53800000</annualizedRt>
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      <invstOrSec>
        <name>Archrock Partners LP</name>
        <lei>N/A</lei>
        <title>Archrock Partners LP</title>
        <cusip>03959KAD2</cusip>
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          <isin value="US03959KAD28"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>381998.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intelsat SA</name>
        <lei>549300YV2L21F4K80V46</lei>
        <title>Intelsat SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU2445093128"/>
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        <balance>270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10968.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
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      <invstOrSec>
        <name>AMSR Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <title>GNMA II</title>
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          <isin value="US3617X0T928"/>
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        <balance>5884860.78000000</balance>
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      <invstOrSec>
        <name>Albertsons Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Albertsons Cos., Inc.</title>
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      <invstOrSec>
        <name>RTX Corp.</name>
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        <title>RTX Corp.</title>
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          <isin value="US913017BT50"/>
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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>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
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          <isin value="US13607PHS65"/>
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        <balance>965000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-11</maturityDt>
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      <invstOrSec>
        <name>Wynn Las Vegas LLC</name>
        <lei>N/A</lei>
        <title>Wynn Las Vegas LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
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          <isin value="US49456BAS07"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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          <isin value="US74331UAN81"/>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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      <invstOrSec>
        <name>Saavi Energia Sarl</name>
        <lei>N/A</lei>
        <title>Saavi Energia Sarl</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-10</maturityDt>
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          <annualizedRt>8.87500000</annualizedRt>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
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        <balance>480000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FRTKL</name>
        <lei>N/A</lei>
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          <isin value="US30322DAG43"/>
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      <invstOrSec>
        <name>FREMF 2021-KF112 Mortgage Trust</name>
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        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Pagaya AI Technology in Housing Trust</name>
        <lei>N/A</lei>
        <title>Pagaya AI Technology in Housing Trust, Series 2022-1, Class F</title>
        <cusip>69547NAG9</cusip>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4862, Class NO</title>
        <cusip>3137FKUH7</cusip>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MVW LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONEOK, Inc.</name>
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          <isin value="US682680CD39"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US3136BDXP80"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-25</maturityDt>
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      <invstOrSec>
        <name>CNO Global Funding</name>
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          <isin value="US18977W2D15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Central Garden &amp; Pet Co.</name>
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        <title>Central Garden &amp; Pet Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-01</maturityDt>
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          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
        <title>Outfront Media Capital LLC</title>
        <cusip>69007TAG9</cusip>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-19</maturityDt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond</title>
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          <other otherDesc="Inhouse Sedol" value="USU5COM"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>White Cap Supply Holdings LLC</name>
        <lei>254900L2N0T6GULCL366</lei>
        <title>White Cap Supply Holdings LLC, 1st Lien Term Loan C</title>
        <cusip>96350TAH3</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LP LMS Asset Securitization Trust</name>
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        <cusip>50214VAB4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc., 1st Lien Term Loan</title>
        <cusip>18452RAF2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities, Inc.</title>
        <cusip>015271AV1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Prudential Funding Asia plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-01</maturityDt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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          <isin value="US05401AAM36"/>
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        <balance>215000.00000000</balance>
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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>2026-02-21</maturityDt>
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      <invstOrSec>
        <name>CoreVest American Finance Trust</name>
        <lei>N/A</lei>
        <title>CoreVest American Finance Trust, Series 2019-2, Class E</title>
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          <isin value="US21872GAN51"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
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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>2032-11-01</maturityDt>
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          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>Aqua Finance Trust</name>
        <lei>N/A</lei>
        <title>Aqua Finance Trust, Series 2019-A, Class B</title>
        <cusip>038370AB8</cusip>
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          <isin value="US038370AB82"/>
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        <balance>121999.86000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.47000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Axalta Coating Systems US Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Axalta Coating Systems US Holdings, Inc., 1st Lien Term Loan B-7</title>
        <cusip>90347BAP3</cusip>
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          <isin value="US90347BAP31"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.04920000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>914000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.47500000</annualizedRt>
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      <invstOrSec>
        <name>American Builders &amp; Contractors Supply Co., Inc.</name>
        <lei>549300H5GQ4C1BEKG397</lei>
        <title>American Builders &amp; Contractors Supply Co., Inc.</title>
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        <balance>155000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp.</title>
        <cusip>756109AX2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF 2020-K105 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-25</maturityDt>
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      <invstOrSec>
        <name>MNR ABS Issuer I LLC</name>
        <lei>254900P5PAYARXBH9O74</lei>
        <title>MNR ABS Issuer I LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <annualizedRt>12.43600000</annualizedRt>
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        <name>Virgin Media Secured Finance plc</name>
        <lei>213800X3RLP4NOTPY579</lei>
        <title>Virgin Media Secured Finance plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>25714PEE4</cusip>
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          <isin value="US25714PEE43"/>
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        <balance>300000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>Atmos Energy Corp.</title>
        <cusip>049560AK1</cusip>
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          <isin value="US049560AK13"/>
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        <balance>52000.00000000</balance>
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        <valUSD>51136.83000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Wayfair LLC</name>
        <lei>549300CTUWTZGOXMYI40</lei>
        <title>Wayfair LLC</title>
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        <balance>1315000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>BG Beta I Ltd.</name>
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        <name>Union Electric Co.</name>
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        <name>Berkshire Hathaway Finance Corp.</name>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
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      <invstOrSec>
        <name>Banco Nacional de Comercio Exterior SNC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS Group AG</name>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westgate Resorts LLC</name>
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        <name>LHOME Mortgage Trust</name>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Diversified Gas &amp; Oil Corp.</name>
        <lei>5493008O08WU7K5XC271</lei>
        <title>Diversified Gas &amp; Oil Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175BV5</cusip>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>GAM Re-REMIC Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>3143625.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>Paraguay Government International Bond</name>
        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Republic of Paraguay</title>
        <cusip>N/A</cusip>
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        <balance>3100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2604139.50000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3132DQ6C5</cusip>
        <identifiers>
          <isin value="US3132DQ6C53"/>
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        <balance>3380729.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3206998.86000000</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>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
        <cusip>969457CN8</cusip>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1892981.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LJQZ2</cusip>
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        <balance>2177000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.76000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36179WLP1</cusip>
        <identifiers>
          <isin value="US36179WLP13"/>
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        <balance>3746827.74000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3140466.28000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2051-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>NuStar Logistics LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NuStar Logistics LP</title>
        <cusip>67059TAH8</cusip>
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        <balance>925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>942389.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
        <cusip>69331CAJ7</cusip>
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        <balance>695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>674331.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Kinetik Holdings LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
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        <name>Icon Parent, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Gray Oak Pipeline LLC</name>
        <lei>N/A</lei>
        <title>Gray Oak Pipeline LLC</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-15</maturityDt>
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        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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        <cusip>10805NAF2</cusip>
        <identifiers>
          <isin value="US10805NAF24"/>
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        <balance>3937000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3999594.76000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>STAR Trust</name>
        <lei>N/A</lei>
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          <isin value="US85520CAA36"/>
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        <balance>6491000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6491000.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-17</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>Avis Budget Car Rental LLC</name>
        <lei>N/A</lei>
        <title>Avis Budget Car Rental LLC</title>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Puget Sound Energy, Inc.</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
        <title>Puget Sound Energy, Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-06-15</maturityDt>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3142GTGW0</cusip>
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          <isin value="US3142GTGW08"/>
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        <balance>6546199.45000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810SR05"/>
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        <balance>8454000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12500000</annualizedRt>
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      <invstOrSec>
        <name>PG&amp;E Wildfire Recovery Funding LLC</name>
        <lei>N/A</lei>
        <title>PG&amp;E Wildfire Recovery Funding LLC, Series A-5</title>
        <cusip>693342AK3</cusip>
        <identifiers>
          <isin value="US693342AK39"/>
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        <balance>70000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.09900000</annualizedRt>
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      <invstOrSec>
        <name>Knife River Corp.</name>
        <lei>N/A</lei>
        <title>Knife River Corp.</title>
        <cusip>498894AA2</cusip>
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          <isin value="US498894AA29"/>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2023-1A, Class E</title>
        <cusip>36266XAF7</cusip>
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        <balance>1500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>11.42000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Acadia Healthcare Co., Inc.</name>
        <lei>5493005CW985Y9D0NC11</lei>
        <title>Acadia Healthcare Co., Inc.</title>
        <cusip>00404AAN9</cusip>
        <identifiers>
          <isin value="US00404AAN90"/>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1374599.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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          <isin value="US172967LP48"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-24</maturityDt>
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          <annualizedRt>3.66800000</annualizedRt>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
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          <isin value="US33767PAW86"/>
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        <balance>4710000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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          <isin value="US83368RAW25"/>
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        <balance>550000.00000000</balance>
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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>2030-01-22</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities, Inc.</title>
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          <isin value="US015271BB48"/>
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        <balance>30000.00000000</balance>
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        <valUSD>25277.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-15</maturityDt>
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      <invstOrSec>
        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
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          <isin value="US105756CJ75"/>
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        <balance>1515000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-13</maturityDt>
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      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
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        <cusip>03690AAD8</cusip>
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          <isin value="US03690AAD81"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HIN Timeshare Trust</name>
        <lei>N/A</lei>
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          <isin value="US40439HAD17"/>
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        <balance>345392.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>334567.44000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-09</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Investors Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>First Investors Auto Owner Trust, Series 2021-2A, Class C</title>
        <cusip>32057JAE3</cusip>
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          <isin value="US32057JAE38"/>
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        <balance>2577994.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2540293.50000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>1.47000000</annualizedRt>
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        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175CP7</cusip>
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          <isin value="US161175CP73"/>
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        <balance>3670000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3857800.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.65000000</annualizedRt>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
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          <isin value="US097023CX16"/>
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        <balance>1580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1462770.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.93000000</annualizedRt>
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      <invstOrSec>
        <name>United Airlines, Inc.</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines, Inc.</title>
        <cusip>90932LAH0</cusip>
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        <balance>1680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1595750.86000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>State of Israel</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
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        <cusip>46514BRM1</cusip>
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        <balance>1166000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1030962.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
        <cusip>682691AH3</cusip>
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        <balance>1340000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.62500000</annualizedRt>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-13</maturityDt>
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          <annualizedRt>9.25000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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              <title>N/A</title>
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        <name>Shell International Finance BV</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
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        <balance>620000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-26</maturityDt>
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      <invstOrSec>
        <name>Lamb Weston Holdings, Inc.</name>
        <lei>5493005SMYID1D2OY946</lei>
        <title>Lamb Weston Holdings, Inc.</title>
        <cusip>513272AD6</cusip>
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          <isin value="US513272AD65"/>
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        <balance>795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>749719.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOVA Chemicals Corp.</name>
        <lei>549300ZOD6N7RI2FJP09</lei>
        <title>NOVA Chemicals Corp.</title>
        <cusip>66977WAU3</cusip>
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        <balance>2105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2266293.52000000</valUSD>
        <pctVal>0.034959723148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>UOG ABS Issuer I LLC</name>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>iHeartCommunications, Inc.</name>
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        <name>NatWest Group plc</name>
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        <name>FNMA</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Bombardier, Inc.</name>
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        <invCountry>CA</invCountry>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
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        <name>Bath &amp; Body Works, Inc.</name>
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        <name>Piedmont Natural Gas Co., Inc.</name>
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        <name>BBCMS Mortgage Trust</name>
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        <name>Jonah Energy ABS II LLC</name>
        <lei>254900MMTK6TS4MGMV20</lei>
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        <name>MGM Resorts International</name>
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        <title>MGM Resorts International</title>
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        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30311XAA63"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3136A1G823"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
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          <isin value="US651229AW64"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Incora Intermediate LLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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          <isin value="US3140LH3D01"/>
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      <invstOrSec>
        <name>PPL Electric Utilities Corp.</name>
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          <isin value="US69351UAM53"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>VOLT CII LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>Connecticut Avenue Securities Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Siemens Financieringsmaatschappij NV</name>
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        <title>Siemens Financieringsmaatschappij NV</title>
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        <name>Arbor Realty SR, Inc.</name>
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        <name>Government of Mongolia</name>
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        <name>Multi-Family Connecticut Avenue Securities Trust</name>
        <lei>549300HG8ZEWVWVSN227</lei>
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      <invstOrSec>
        <name>AIB Group plc</name>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MidAmerican Energy Co.</name>
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        <name>Vistra Operations Co. LLC</name>
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      <invstOrSec>
        <name>Avient Corp.</name>
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        <title>Avient Corp.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <title>American Tower Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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          <maturityDt>2031-02-15</maturityDt>
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        <name>BPCE SA</name>
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        <name>GNMA</name>
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        <title>GNMA II</title>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <name>EMRLD Borrower LP</name>
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        <name>FREMF 2020-K105 Mortgage Trust</name>
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        <name>Foundation Finance Trust</name>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Range Resources Corp.</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
        <title>Range Resources Corp.</title>
        <cusip>75281ABJ7</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Intelsat Jackson Holdings SA</name>
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        <name>NNN REIT, Inc.</name>
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        <name>NatWest Markets plc</name>
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        <name>Terex Corp.</name>
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        <name>ONEOK, Inc.</name>
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        <name>Oracle Corp.</name>
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        <name>United Airlines Pass-Through Trust</name>
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        <name>Sprint Capital Corp.</name>
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        <name>FNMA</name>
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        <name>Encompass Health Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>FNMA</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>Aon North America, Inc.</name>
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        <name>FNMA</name>
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        <name>FHLMC Pool</name>
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        <name>JBS USA Holding Lux SARL</name>
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        <name>ConocoPhillips Co.</name>
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        <name>AMSR Trust</name>
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        <name>Charles River Laboratories International, Inc.</name>
        <lei>549300BSQ0R4UZ5KX287</lei>
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        <name>Bank of America Corp.</name>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
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        <name>Imola Merger Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>FHLMC Pool</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>GLS Auto Select Receivables Trust</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>Mars, Inc.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>HGI CRE CLO Ltd.</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="TYU5COM"/>
          <other otherDesc="Future Ticker" value="TYU5 Comdty"/>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>FNMA/FHLMC</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>DT Midstream, Inc.</name>
        <lei>N/A</lei>
        <title>DT Midstream, Inc.</title>
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          <isin value="US23345MAB37"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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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>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Valaris Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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          <isin value="US46284VAE11"/>
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        <balance>540000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF 2018-K1507 Mortgage Trust</name>
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        <cusip>30297EAS7</cusip>
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          <isin value="US30297EAS72"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Owens-Brockway Glass Container, Inc.</name>
        <lei>V2UQUCDZJ9WY98W8QU33</lei>
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        <cusip>69073TAT0</cusip>
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          <isin value="US69073TAT07"/>
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        <balance>920000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd.</title>
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        <balance>1650000.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMSR Trust</name>
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          <isin value="US00178YAE14"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2023-M8, Class A2</title>
        <cusip>3136BQSN0</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
        <cusip>043436AU8</cusip>
        <identifiers>
          <isin value="US043436AU81"/>
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        <balance>297000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>289348.15000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Oman Government International Bond</name>
        <lei>549300SZ20F0QTKNQC75</lei>
        <title>Sultanate of Oman Government Bond</title>
        <cusip>68205LAT0</cusip>
        <identifiers>
          <isin value="US68205LAT08"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1852884.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>OM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Acushnet Co.</name>
        <lei>549300H805O14KEFES79</lei>
        <title>Acushnet Co.</title>
        <cusip>005095AA2</cusip>
        <identifiers>
          <isin value="US005095AA29"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>606181.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA, Grantor Trust</name>
        <lei>N/A</lei>
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          <maturityDt>2027-06-25</maturityDt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHDX5</cusip>
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        <balance>2555639.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133BQY67</cusip>
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        <balance>1840500.40000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Southern Co. Gas Capital Corp.</name>
        <lei>E8CD46SWUD2TSN8PA636</lei>
        <title>Southern Co. Gas Capital Corp., Series 21A</title>
        <cusip>8426EPAE8</cusip>
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          <isin value="US8426EPAE81"/>
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        <balance>710000.00000000</balance>
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        <valUSD>437844.86000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
        <cusip>29364WBE7</cusip>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.60000000</annualizedRt>
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      <invstOrSec>
        <name>Berkshire Hathaway Finance Corp.</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>Berkshire Hathaway Finance Corp.</title>
        <cusip>084664CX7</cusip>
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          <isin value="US084664CX75"/>
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        <balance>200000.00000000</balance>
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        <valUSD>116157.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
        <cusip>46284VAC5</cusip>
        <identifiers>
          <isin value="US46284VAC54"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>449607.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Carvana Auto Receivables Trust, Series 2023-P3, Class A4</title>
        <cusip>14688GAD6</cusip>
        <identifiers>
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        <balance>709000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Triad Holdings III LLC</name>
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        <name>GNMA</name>
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        <name>American Express Co.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>ONEOK Partners LP</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Sirius XM Radio LLC</name>
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        <name>FNMA</name>
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        <name>PG&amp;E Recovery Funding LLC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Acadia Healthcare Co., Inc.</name>
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        <name>Drive Auto Receivables Trust</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Coherent Corp.</name>
        <lei>549300O5C25A0MMHHU33</lei>
        <title>Coherent Corp.</title>
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        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
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        <name>SCF Equipment Leasing LLC</name>
        <lei>N/A</lei>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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          <isin value="US694308JU20"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22732.15000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>Danske Bank A/S</title>
        <cusip>23636ABH3</cusip>
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          <isin value="US23636ABH32"/>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>870723.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>DK</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>5.70500000</annualizedRt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ABT3</cusip>
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          <isin value="US44891ABT34"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323832.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>949746SH5</cusip>
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          <isin value="US949746SH57"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>352724.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
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          <isin value="US98379KAA07"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>333297.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dana, Inc.</name>
        <lei>KVWHW7YLZPFJM8QYNJ51</lei>
        <title>Dana, Inc.</title>
        <cusip>235825AF3</cusip>
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          <isin value="US235825AF32"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>588032.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP, 1st Lien Term Loan</title>
        <cusip>58503UAF0</cusip>
        <identifiers>
          <isin value="US58503UAF03"/>
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        <balance>202387.54370000</balance>
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        <curCd>USD</curCd>
        <valUSD>202152.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.57681000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT, Inc.</title>
        <cusip>637417AT3</cusip>
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          <isin value="US637417AT37"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>220263.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp.</title>
        <cusip>26884LBC2</cusip>
        <identifiers>
          <isin value="US26884LBC28"/>
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        <balance>3261000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3154668.05000000</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>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172CE7</cusip>
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        <balance>459000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445616.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
        <cusip>3617WWP63</cusip>
        <identifiers>
          <isin value="US3617WWP637"/>
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        <balance>6391524.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6622425.20000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2071-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62899960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nissan Auto Lease Trust</name>
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        <cusip>65473FAE7</cusip>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>802908.88000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.61000000</annualizedRt>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
        <cusip>87470LAJ0</cusip>
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          <isin value="US87470LAJ08"/>
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        <balance>1865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1787017.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
        <cusip>055451BA5</cusip>
        <identifiers>
          <isin value="US055451BA54"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99158.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851BS7</cusip>
        <identifiers>
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        <balance>1960000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1910924.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
        <cusip>88033GDR8</cusip>
        <identifiers>
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        <balance>875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>836312.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617FGL46</cusip>
        <identifiers>
          <isin value="US3617FGL469"/>
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        <balance>819129.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>796139.38000000</valUSD>
        <pctVal>0.012281203677</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHSR2</cusip>
        <identifiers>
          <isin value="US3140LHSR26"/>
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        <name>Consolidated Edison Co. of New York, Inc.</name>
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        <name>Banc of America Re-REMIC Trust</name>
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        <name>L3Harris Technologies, Inc.</name>
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        <name>RXO, Inc.</name>
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        <name>CoreVest American Finance Trust</name>
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        <name>Svenska Handelsbanken AB</name>
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        <name>Eversource Energy</name>
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        <name>Sonoco Products Co.</name>
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        <name>BMD2 Re-REMIC Trust</name>
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        <name>Edison International</name>
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        <name>Hyundai Capital America</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Upstart Securitization Trust</name>
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        <name>Zoetis, Inc.</name>
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        <name>Eni USA, Inc.</name>
        <lei>N/A</lei>
        <title>Eni USA, Inc.</title>
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        <name>FHLMC Pool</name>
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        <name>Terex Corp.</name>
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        <name>Canadian Pacific Railway Co.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Performance Food Group, Inc.</name>
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        <name>Republic of El Salvador</name>
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        <name>Societe Generale SA</name>
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        <name>FHLMC Pool</name>
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        <name>Electricite de France SA</name>
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        <name>FHLMC Mscr Trust Mn10</name>
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        <name>IQVIA, Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
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      <invstOrSec>
        <name>Bath &amp; Body Works, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSL Finance plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCR Atleos Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-27</maturityDt>
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        <name>Republic of Uzbekistan International Bond</name>
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        <curCd>USD</curCd>
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        <invCountry>UZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-25</maturityDt>
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        <name>Ardagh Packaging Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
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        <valUSD>12281.47000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sealed Air Corp.</name>
        <lei>N/A</lei>
        <title>Sealed Air Corp.</title>
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        <valUSD>207293.34000000</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>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <name>Takeda Pharmaceutical Co. Ltd.</name>
        <lei>549300ZLMVP4X0OGR454</lei>
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        <valUSD>470930.10000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AMSR Trust</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>EMRLD Borrower LP</name>
        <lei>5493000GJYE7GAQCUC61</lei>
        <title>EMRLD Borrower LP, 1st Lien Term Loan B</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-31</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Cheniere Energy Partners LP</name>
        <lei>5493005UEC8AZ34LDV29</lei>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <invCountry>FR</invCountry>
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        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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        <curCd>USD</curCd>
        <valUSD>355320.09000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avient Corp.</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
        <title>Avient Corp.</title>
        <cusip>05368VAA4</cusip>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>669825.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>Eni SpA</name>
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        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>Alabama Power Co.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
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        <name>TransDigm, Inc.</name>
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        <name>DLLAA LLC</name>
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        <name>Avantor Funding, Inc.</name>
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        <name>BAMLL Re-REMIC Trust</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140ADA84</cusip>
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        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
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        <invCountry>FI</invCountry>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <balance>2551807.35000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ITC Holdings Corp.</name>
        <lei>549300HTO5U9D3SLE207</lei>
        <title>ITC Holdings Corp.</title>
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          <isin value="US465685AS47"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>298073.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
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          <annualizedRt>5.40000000</annualizedRt>
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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>
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          <isin value="XS1577950311"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>775350.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>Seasoned Credit Risk Transfer Trust, Series 2025-1, Class MTU</title>
        <cusip>35563PYZ6</cusip>
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          <isin value="US35563PYZ60"/>
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        <balance>28218547.06000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24154748.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vital Energy, Inc.</name>
        <lei>549300X0PTWU2QSLSL14</lei>
        <title>Vital Energy, Inc.</title>
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          <isin value="US516806AK23"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>365007.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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          <annualizedRt>7.87500000</annualizedRt>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>Volkswagen Group of America Finance LLC</title>
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        <balance>2950000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-27</maturityDt>
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      <invstOrSec>
        <name>Continental Finance Credit Card ABS Master Trust</name>
        <lei>N/A</lei>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>828696.99000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.19000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140NXF73</cusip>
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          <isin value="US3140NXF737"/>
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        <curCd>USD</curCd>
        <valUSD>5914703.87000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37000000</annualizedRt>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>05571ABA2</cusip>
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          <isin value="US05571ABA25"/>
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        <balance>2680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2782027.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.29300000</annualizedRt>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2021-SFR1, Class F2</title>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.45200000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHWM8</cusip>
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          <isin value="US3140LHWM82"/>
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        <balance>13290000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QNPS5</cusip>
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          <isin value="US3140QNPS58"/>
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        <balance>2706913.80000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
        <cusip>3617VYM97</cusip>
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          <isin value="US3617VYM970"/>
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        <balance>740097.12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>770783.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2071-11-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.73300000</annualizedRt>
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        <name>Dominican Republic</name>
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        <cusip>N/A</cusip>
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          <isin value="USP3579ECE51"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>DO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-05</maturityDt>
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        <name>Banc of America Re-REMIC Trust</name>
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      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
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        <balance>850000.00000000</balance>
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        <invCountry>EG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-12</maturityDt>
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          <annualizedRt>6.80000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XDGG5</cusip>
        <identifiers>
          <isin value="US3140XDGG56"/>
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        <balance>5661524.78000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4672185.67000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Honeywell International, Inc.</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Wand NewCo 3, Inc.</name>
        <lei>549300Y3VZEWMSQW8494</lei>
        <title>Wand NewCo 3, Inc.</title>
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        <name>Credit Agricole SA</name>
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        <name>Blue Racer Midstream LLC</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dana, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Scripps Escrow II, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>ConocoPhillips Co.</name>
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        <name>ams-OSRAM AG</name>
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        <invCountry>AT</invCountry>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Nationwide Building Society</name>
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        <name>Progress Residential Trust</name>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
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        <name>AerCap Ireland Capital DAC</name>
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        <title>AerCap Ireland Capital DAC</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
        <cusip>28470RAK8</cusip>
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          <isin value="US28470RAK86"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95139.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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      <invstOrSec>
        <name>Raizen Fuels Finance SA</name>
        <lei>52990010NH26VC32Q522</lei>
        <title>Raizen Fuels Finance SA</title>
        <cusip>75102XAB2</cusip>
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          <isin value="US75102XAB29"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>242550.00000000</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>2034-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GKW8</cusip>
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          <isin value="US06051GKW86"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>392451.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.94800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Goodman US Finance Three LLC</name>
        <lei>N/A</lei>
        <title>Goodman US Finance Three LLC</title>
        <cusip>38239JAA9</cusip>
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          <isin value="US38239JAA97"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>574330.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Essex Portfolio LP</name>
        <lei>5493003GN3O58H286O74</lei>
        <title>Essex Portfolio LP</title>
        <cusip>29717PBA4</cusip>
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          <isin value="US29717PBA49"/>
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        <balance>2160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2170164.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2023-4A, Class D</title>
        <cusip>96041AAN6</cusip>
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          <isin value="US96041AAN63"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3630818.45000000</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>2029-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.19000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal Republic of Nigeria</name>
        <lei>549300GSBZD84TNEQ285</lei>
        <title>Federal Republic of Nigeria</title>
        <cusip>65412JAR4</cusip>
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          <isin value="US65412JAR41"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1390785.00000000</valUSD>
        <pctVal>0.021454175343</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Purewest ABS Issuer LLC</name>
        <lei>254900N011GHBESCKS35</lei>
        <title>Purewest ABS Issuer LLC, Series 2025-1, Class A2</title>
        <cusip>74628AAB0</cusip>
        <identifiers>
          <isin value="US74628AAB08"/>
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        <balance>5992306.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5992306.07000000</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>2040-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.53100000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AF4</cusip>
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          <isin value="US428102AF45"/>
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        <balance>1365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1349589.19000000</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>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp.</title>
        <cusip>26884LAW9</cusip>
        <identifiers>
          <isin value="US26884LAW90"/>
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        <balance>199000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194460.75000000</valUSD>
        <pctVal>0.002999741173</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22534PAC7</cusip>
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        <balance>990000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1010700.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30100000</annualizedRt>
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      <invstOrSec>
        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR Trust, Series 2022-SFR3, Class E2</title>
        <cusip>66981YAF6</cusip>
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          <isin value="US66981YAF60"/>
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        <balance>3504000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3349666.32000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ACY9</cusip>
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          <isin value="US87264ACY91"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>351973.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2022-SFR2, Class E2</title>
        <cusip>74332VAL9</cusip>
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          <isin value="US74332VAL99"/>
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        <balance>651000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617AT4J9</cusip>
        <identifiers>
          <isin value="US3617AT4J90"/>
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        <balance>18877.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17405.62000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2021-M3, Class X1</title>
        <cusip>3136BDXR4</cusip>
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          <isin value="US3136BDXR47"/>
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        <balance>483188.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32495.41000000</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>2033-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.90445040</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>Archrock Partners LP</name>
        <lei>N/A</lei>
        <title>Archrock Partners LP</title>
        <cusip>03959KAA8</cusip>
        <identifiers>
          <isin value="US03959KAA88"/>
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        <balance>173000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173249.47000000</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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2021-SFR2, Class E2</title>
        <cusip>33767TAL4</cusip>
        <identifiers>
          <isin value="US33767TAL44"/>
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        <balance>814000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AthenaHealth Group, Inc.</name>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating LLC</title>
        <cusip>15138AAA8</cusip>
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          <isin value="US15138AAA88"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>314177.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Credit Suisse USA LLC</name>
        <lei>EXD7DEVFDH4HOFFQ7349</lei>
        <title>Credit Suisse USA LLC</title>
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        <balance>53000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59291.95000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR Trust, Series 2022-SFR3, Class D</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <curCd>USD</curCd>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Amcor Flexibles North America, Inc.</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
        <title>Amcor Flexibles North America, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>1721172.80000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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        <name>Sigeco Securitization I LLC</name>
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        <curCd>USD</curCd>
        <valUSD>47182.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Directv Financing LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CFIN 2022-RTL1 Issuer LLC</name>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>Lendmark Funding Trust</name>
        <lei>N/A</lei>
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        <cusip>52604DAB8</cusip>
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          <isin value="US52604DAB82"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FS Luxembourg Sarl</name>
        <lei>222100EKR3JUJPGGOY81</lei>
        <title>FS Luxembourg Sarl</title>
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          <isin value="US30315XAC83"/>
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        <balance>773000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.87500000</annualizedRt>
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        <name>Suncor Energy, Inc.</name>
        <lei>549300W70ZOQDVLCHY06</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MVW LLC</name>
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        <name>FHF Trust</name>
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          <isin value="US31568EAA64"/>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured Credit Risk</name>
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        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series 2024-MN9, Class M2</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
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          <isin value="US3132DVGU35"/>
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        <curCd>USD</curCd>
        <valUSD>16711283.39000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FNMA</name>
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        <name>DTE Electric Co.</name>
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        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
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        <name>Darling Ingredients, Inc.</name>
        <lei>L1N0SPPKS7EXZYUMZ898</lei>
        <title>Darling Ingredients, Inc.</title>
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          <isin value="US237266AJ06"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2022-1, Class MAU</title>
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          <isin value="US35563P7F01"/>
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        <balance>8588327.21000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7798236.32000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QDKQ6</cusip>
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          <isin value="US3140QDKQ65"/>
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        <balance>1139432.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>941442.30000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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 BK98</title>
        <cusip>12529YBY7</cusip>
        <identifiers>
          <isin value="US12529YBY77"/>
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        <balance>4150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3106532.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SPX FLOW, Inc.</name>
        <lei>5493003YXEKRBINIEM78</lei>
        <title>SPX FLOW, Inc., 1st Lien Term Loan B</title>
        <cusip>78470DAV0</cusip>
        <identifiers>
          <isin value="US78470DAV01"/>
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        <balance>400212.05000000</balance>
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        <curCd>USD</curCd>
        <valUSD>401212.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-05</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>292480AM2</cusip>
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          <isin value="US292480AM22"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Duke Energy Indiana LLC</name>
        <lei>6URPHM2EAWGJ2C6ISB97</lei>
        <title>Duke Energy Indiana LLC</title>
        <cusip>26443TAC0</cusip>
        <identifiers>
          <isin value="US26443TAC09"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234079.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>639057AN8</cusip>
        <identifiers>
          <isin value="US639057AN83"/>
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        <balance>415000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>423011.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.77800000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>DT Auto Owner Trust, Series 2023-2A, Class D</title>
        <cusip>23346CAG3</cusip>
        <identifiers>
          <isin value="US23346CAG33"/>
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        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1631308.64000000</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>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SY5</cusip>
        <identifiers>
          <isin value="US912810SY55"/>
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        <balance>4699000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3344733.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617Y24W3</cusip>
        <identifiers>
          <isin value="US3617Y24W39"/>
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        <balance>407582.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>368473.24000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4302, Class PA</title>
        <cusip>3137B8F51</cusip>
        <identifiers>
          <isin value="US3137B8F513"/>
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        <balance>44322.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43078.18000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Trinity Industries, Inc.</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>Trinity Industries, Inc.</title>
        <cusip>896522AJ8</cusip>
        <identifiers>
          <isin value="US896522AJ82"/>
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        <balance>765000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>794965.05000000</valUSD>
        <pctVal>0.012263088525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COPT Defense Properties LP</name>
        <lei>H0TWO5VRNEP6CQAWPX27</lei>
        <title>COPT Defense Properties LP</title>
        <cusip>22003BAL0</cusip>
        <identifiers>
          <isin value="US22003BAL09"/>
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        <balance>94000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92029.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>639057AQ1</cusip>
        <identifiers>
          <isin value="US639057AQ15"/>
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        <balance>605000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>641462.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>N/A</name>
              <title>N/A</title>
              <curCd>USD</curCd>
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          <currencyInfos>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2021-3A, Class D</title>
        <cusip>96043JAL9</cusip>
        <identifiers>
          <isin value="US96043JAL98"/>
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        <balance>318467.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>316361.07000000</valUSD>
        <pctVal>0.004880169018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140NUPQ6</cusip>
        <identifiers>
          <isin value="US3140NUPQ62"/>
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        <balance>3625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3510602.90000000</valUSD>
        <pctVal>0.054154373378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.32000000</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>
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        <name>Mariner Finance Issuance Trust</name>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
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        <name>Fiserv, Inc.</name>
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      <invstOrSec>
        <name>FHLMC Multi-Family Structured Credit Risk</name>
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        <name>Charter Communications Operating LLC</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Florida Power &amp; Light Co.</name>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
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        <name>SM Energy Co.</name>
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        <name>HCA, Inc.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>MFA Trust</name>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
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        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
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        <invCountry>EG</invCountry>
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        <name>RB Global Holdings, Inc.</name>
        <lei>254900LH3N0EGB1LQ203</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Union Electric Co.</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>Union Electric Co.</title>
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          <isin value="US906548CW07"/>
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        <balance>555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>519416.23000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT</title>
        <cusip>35563PFF1</cusip>
        <identifiers>
          <isin value="US35563PFF18"/>
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        <balance>516841.80600000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Media, Inc.</title>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
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        <cusip>3617YMQ70</cusip>
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          <isin value="US3617YMQ707"/>
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        <balance>789651.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705516.57000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series KJ48, Class A2</title>
        <cusip>3137HBC77</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-25</maturityDt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-24</maturityDt>
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      <invstOrSec>
        <name>STAR Trust</name>
        <lei>N/A</lei>
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        <balance>2000000.00000000</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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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <balance>1647000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
        <lei>54930043I78H35DVVW89</lei>
        <title>Entergy Mississippi LLC</title>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13369.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance Issuance Trust, Series 2021-AA, Class B</title>
        <cusip>56848DAB5</cusip>
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          <isin value="US56848DAB55"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.33000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280DG1</cusip>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>308145.91000000</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>2028-08-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
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      <invstOrSec>
        <name>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
        <cusip>552953CK5</cusip>
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        <balance>1290000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <balance>684000.00000000</balance>
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          <annualizedRt>4.01600000</annualizedRt>
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      <invstOrSec>
        <name>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
        <cusip>36168QAL8</cusip>
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        <balance>735000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122EH7</cusip>
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        <balance>1760000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Standard Building Solutions, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Building Solutions, Inc.</title>
        <cusip>853191AA2</cusip>
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          <isin value="US853191AA25"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>472243.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Diego Gas &amp; Electric Co.</name>
        <lei>KNIRVXKVNJJ4P8OTMS63</lei>
        <title>San Diego Gas &amp; Electric Co.</title>
        <cusip>797440CD4</cusip>
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        <balance>4070000.00000000</balance>
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        <valUSD>3681260.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 15 Year</title>
        <cusip>3140XCL30</cusip>
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          <isin value="US3140XCL308"/>
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        <balance>1875476.30000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1842240.18000000</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>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K088, Class A2</title>
        <cusip>3137FKZZ2</cusip>
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          <isin value="US3137FKZZ25"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>343479.57000000</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>2029-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.69000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCU3</cusip>
        <identifiers>
          <isin value="US20030NCU37"/>
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        <balance>1344000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1323835.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
        <cusip>785592AS5</cusip>
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          <isin value="US785592AS57"/>
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        <balance>1225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1230381.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133KMAX3</cusip>
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          <isin value="US3133KMAX39"/>
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        <balance>7459769.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6410772.47000000</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>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175CD4</cusip>
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          <isin value="US161175CD44"/>
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        <balance>2315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2116585.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Quest Diagnostics, Inc.</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>Quest Diagnostics, Inc.</title>
        <cusip>74834LBG4</cusip>
        <identifiers>
          <isin value="US74834LBG41"/>
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        <balance>3055000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2998610.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
        <cusip>29364WBD9</cusip>
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          <isin value="US29364WBD92"/>
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        <balance>823000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496220.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2023-A, Class D</title>
        <cusip>12664LAD7</cusip>
        <identifiers>
          <isin value="US12664LAD73"/>
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        <balance>723000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>735205.98000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.44000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2022-SFR3, Class D</title>
        <cusip>74331UAG3</cusip>
        <identifiers>
          <isin value="US74331UAG31"/>
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        <balance>1090000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1064479.94000000</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>2039-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ADC8</cusip>
        <identifiers>
          <isin value="US44891ADC80"/>
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        <balance>1160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1171210.95000000</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>2029-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Auto Loan Trust, Series 2023-1A, Class C</title>
        <cusip>224927AE3</cusip>
        <identifiers>
          <isin value="US224927AE34"/>
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        <balance>1675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1721153.96000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.71000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Multi-Family Connecticut Avenue Securities Trust</name>
        <lei>254900JAK6X5OPMD5925</lei>
        <title>Multi-Family Connecticut Avenue Securities Trust, Series 2023-01, Class M10</title>
        <cusip>62548NAB4</cusip>
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          <isin value="US62548NAB47"/>
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        <balance>5685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6352724.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.82197080</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FXFD9</cusip>
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          <isin value="US3140FXFD90"/>
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        <balance>6617158.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6603503.43000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XN5L4</cusip>
        <identifiers>
          <isin value="US3140XN5L44"/>
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        <balance>8126082.90000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAS0</cusip>
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          <isin value="US05401AAS06"/>
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        <balance>975000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SpringCastle America Funding LLC</name>
        <lei>N/A</lei>
        <title>SpringCastle America Funding LLC, Series 2020-AA, Class A</title>
        <cusip>85022WAP9</cusip>
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          <isin value="US85022WAP95"/>
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        <balance>318483.26370000</balance>
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        <curCd>USD</curCd>
        <valUSD>297960.01000000</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>2037-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.97000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617Y0N97</cusip>
        <identifiers>
          <isin value="US3617Y0N979"/>
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        <balance>187918.95000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>HINNT LLC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <cusip>3140QRA60</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>HIN Timeshare Trust</name>
        <lei>N/A</lei>
        <title>HIN Timeshare Trust, Series 2020-A, Class E</title>
        <cusip>40439HAE9</cusip>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140JMSB9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JPFR1</cusip>
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        <balance>7441.62000000</balance>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Puget Sound Energy, Inc.</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
        <cusip>3617XP4J2</cusip>
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        <balance>463964.01000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>46115HBS5</cusip>
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        <balance>3450000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CGI, Inc.</name>
        <lei>549300WSRCZY73ZG3090</lei>
        <title>CGI, Inc.</title>
        <cusip>12532HAC8</cusip>
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        <balance>170000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>PepsiCo, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Synopsys, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2017-K69 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Florida Power &amp; Light Co.</name>
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        <title>Florida Power &amp; Light Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jersey Central Power &amp; Light Co.</name>
        <lei>549300W9UGH9ZPLNPF79</lei>
        <title>Jersey Central Power &amp; Light Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Adient US LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Smyrna Ready Mix Concrete LLC</name>
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        <title>Smyrna Ready Mix Concrete LLC</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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2063-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR Trust, Series 2021-SFR1, Class F</title>
        <cusip>00179DAG1</cusip>
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          <isin value="US00179DAG16"/>
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          <maturityDt>2038-06-17</maturityDt>
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        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>SS&amp;C Technologies, Inc.</name>
        <lei>549300KY09TR3J12JU49</lei>
        <title>SS&amp;C Technologies, Inc.</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <balance>1475000.00000000</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>2032-05-17</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP</title>
        <cusip>18060TAD7</cusip>
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          <isin value="US18060TAD72"/>
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        <balance>291000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296386.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Newmont Corp.</name>
        <lei>N/A</lei>
        <title>Newmont Corp.</title>
        <cusip>65163LAD1</cusip>
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          <isin value="US65163LAD10"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297680.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
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        <name>FNMA</name>
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        <name>Sinclair Television Group, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>AdaptHealth LLC</name>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Danske Bank A/S</name>
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        <name>Glencore Funding LLC</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>Sabra Health Care LP</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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      <invstOrSec>
        <name>Resideo Funding, Inc.</name>
        <lei>5493000IFJ6XJKH66598</lei>
        <title>Resideo Funding, Inc.</title>
        <cusip>76119LAD3</cusip>
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        <balance>915000.00000000</balance>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Westpac New Zealand Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Select Receivables Trust</name>
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        <name>Gap, Inc. (The)</name>
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        <name>Owens &amp; Minor, Inc.</name>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>Southwestern Public Service Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Realty Income Corp.</name>
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        <name>Societe Generale SA</name>
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        <name>ABN AMRO Bank NV</name>
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        <name>FHLMC Pool</name>
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        <name>Take-Two Interactive Software, Inc.</name>
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        <name>MVW LLC</name>
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        <name>Westgate Resorts LLC</name>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
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        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Rocket Mortgage LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lumen Technologies, Inc.</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>Lumen Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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      <invstOrSec>
        <name>Macquarie Group Ltd.</name>
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        <curCd>USD</curCd>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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          <annualizedRt>5.03300000</annualizedRt>
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        <name>ADT Security Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-20</maturityDt>
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      <invstOrSec>
        <name>Banque Federative du Credit Mutuel SA</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA</title>
        <cusip>06675FBB2</cusip>
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        <balance>1005000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-13</maturityDt>
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          <annualizedRt>5.79000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Axalta Coating Systems LLC</name>
        <lei>N/A</lei>
        <title>Axalta Coating Systems LLC</title>
        <cusip>05454NAA7</cusip>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296878.23000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Scripps Escrow, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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          <maturityDt>2051-11-20</maturityDt>
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        <name>TEGNA, Inc.</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA, Inc.</title>
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        <name>Camden Property Trust</name>
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      <invstOrSec>
        <name>Williams Scotsman, Inc.</name>
        <lei>549300DAKDS8SCO1OT57</lei>
        <title>Williams Scotsman, Inc.</title>
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        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PPL Electric Utilities Corp.</name>
        <lei>549300GCZLSGYEYPIR35</lei>
        <title>PPL Electric Utilities Corp.</title>
        <cusip>69351UBB8</cusip>
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        <valUSD>65091.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140NMJW8</cusip>
        <identifiers>
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        <balance>2887875.12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2799742.17000000</valUSD>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <name>FNMA</name>
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        <name>Lendmark Funding Trust</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>Medline Borrower LP</name>
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        <name>FHLMC</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Herc Holdings Escrow, Inc.</name>
        <lei>N/A</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140LGXS60"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Prestige Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
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        <title>FHLMC UMBS, 30 Year</title>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2013-108, Class GU</title>
        <cusip>3136AGMM1</cusip>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <balance>703237.09000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>ADT Security Corp. (The)</name>
        <lei>5493009JEEDYLVRA0J13</lei>
        <title>ADT Security Corp. (The)</title>
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      <invstOrSec>
        <name>US Auto Funding Trust</name>
        <lei>N/A</lei>
        <title>US Auto Funding Trust, Series 2022-1A, Class D</title>
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        <name>MVW LLC</name>
        <lei>N/A</lei>
        <title>MVW LLC, Series 2020-1A, Class C</title>
        <cusip>55400EAC3</cusip>
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        <balance>56125.31000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55220.51000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.21000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2014-57, Class PE</title>
        <cusip>3136AKQ48</cusip>
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        <balance>1129000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>916200.21000000</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>2044-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Eversource Energy</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aetna, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Republic of Cote d'Ivoire</name>
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        <title>Republic of Cote d'Ivoire</title>
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        <invCountry>CI</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wabash National Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NRZ Excess Spread-Collateralized Notes</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Penske Truck Leasing Co. LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
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          <annualizedRt>1.20000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-18</maturityDt>
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      <invstOrSec>
        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
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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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        <name>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Adient Global Holdings Ltd.</name>
        <lei>213800VA38VCKE6M8790</lei>
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        <invCountry>JE</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp.</title>
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        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
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        <balance>1082000.00000000</balance>
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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>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LHOME Mortgage Trust, Series 2023-RTL4, Class A1</title>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US38384DAX57"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U2A01"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMBC Aviation Capital Finance DAC</name>
        <lei>549300OD7VKRVNWB2J98</lei>
        <title>SMBC Aviation Capital Finance DAC</title>
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          <isin value="US78448TAL61"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison IAQ LLC</name>
        <lei>549300IXDNBXNHUPBU73</lei>
        <title>Madison IAQ LLC, 1st Lien Term Loan</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-21</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Republic of Costa Rica</name>
        <lei>549300S1EK2VN6XVJP58</lei>
        <title>Republic of Costa Rica</title>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-13</maturityDt>
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          <annualizedRt>7.30000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QQLL7</cusip>
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          <isin value="US3140QQLL72"/>
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        <balance>1237988.31000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>CSMC OA LLC</name>
        <lei>549300818AKCJ4Q9TD76</lei>
        <title>CSMC OA LLC, Series 2014-USA, Class D</title>
        <cusip>12649AAN9</cusip>
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        <balance>4374000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3339939.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37330000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617XLK53</cusip>
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          <isin value="US3617XLK530"/>
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        <balance>682847.89000000</balance>
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        <curCd>USD</curCd>
        <valUSD>609896.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>BMD2 Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BMD2 Re-REMIC Trust, Series 2019-FRR1, Class 4D1</title>
        <cusip>055631BM6</cusip>
        <identifiers>
          <isin value="US055631BM61"/>
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        <balance>9786000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7297420.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GKQ1</cusip>
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          <isin value="US06051GKQ19"/>
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        <balance>4049000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.57100000</annualizedRt>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613BL1</cusip>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.61700000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
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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>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3138LME74</cusip>
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        <balance>926510.73000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020AX5</cusip>
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        <balance>3026000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust, Series 2022-1D, Class D</title>
        <cusip>43283BAD5</cusip>
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        <balance>129495.48750000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
        <cusip>91324PES7</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-02-15</maturityDt>
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      <invstOrSec>
        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
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        <balance>4405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4467401.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MHC Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>MHC Commercial Mortgage Trust, Series 2021-MHC, Class F</title>
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          <isin value="US55316VAL80"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Freeport-McMoRan, Inc.</name>
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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>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Park River Holdings, Inc.</name>
        <lei>254900PGY077KWCROT75</lei>
        <title>Park River Holdings, Inc., 1st Lien Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QLR40</cusip>
        <identifiers>
          <isin value="US3140QLR409"/>
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        <curCd>USD</curCd>
        <valUSD>10871637.34000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QKNP9</cusip>
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          <isin value="US3140QKNP98"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.69100000</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XCD5</cusip>
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        <curCd>USD</curCd>
        <valUSD>14169.52000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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        <name>Metropolitan Life Global Funding I</name>
        <lei>635400MMSOCXNNNZDZ82</lei>
        <title>Metropolitan Life Global Funding I</title>
        <cusip>59217GFP9</cusip>
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          <isin value="US59217GFP90"/>
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        <balance>880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>882565.58000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2014-2, Class A</title>
        <cusip>90932QAA4</cusip>
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          <isin value="US90932QAA40"/>
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        <balance>519371.67000000</balance>
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        <curCd>USD</curCd>
        <valUSD>508937.65000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2026-09-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="USP3579ECP09"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394600.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHD98</cusip>
        <identifiers>
          <isin value="US3140LHD986"/>
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        <balance>1010000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>931832.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K753, Class A2</title>
        <cusip>3137HB2L7</cusip>
        <identifiers>
          <isin value="US3137HB2L74"/>
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        <balance>3125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3126655.63000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KDE7</cusip>
        <identifiers>
          <isin value="US65339KDE73"/>
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        <balance>1110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1111379.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61748UAE2</cusip>
        <identifiers>
          <isin value="US61748UAE29"/>
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        <balance>5380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5459481.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.23000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>Harvest Midstream I LP</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <name>BP Capital Markets America, Inc.</name>
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        <name>Charter Communications Operating LLC</name>
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        <name>Avis Budget Car Rental LLC</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ATI, Inc.</name>
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        <title>ATI, Inc.</title>
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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>FNMA</name>
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        <name>Entergy Texas, Inc.</name>
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        <name>NMG Parent LLC</name>
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        <name>HINNT LLC</name>
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        <name>United States of America</name>
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        <name>Edison International</name>
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        <name>Multi-Family Connecticut Avenue Securities Trust</name>
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        <name>GNMA</name>
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        <name>Progress Residential Trust</name>
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      <invstOrSec>
        <name>Avis Budget Car Rental LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Level 3 Financing, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Monongahela Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Schlumberger Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-17</maturityDt>
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          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-22</maturityDt>
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        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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        <name>Arab Republic of Egypt</name>
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        <invCountry>EG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Buckeye Partners LP</name>
        <lei>549300C1PQJLVEIUBK50</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.07681000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Electric and Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Escrow Rite Aid</name>
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        <fairValLevel>3</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>FREMF 2018-K1505 Mortgage Trust</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
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      <invstOrSec>
        <name>Matador Resources Co.</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co.</title>
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        <name>Somnigroup International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
        <title>Somnigroup International, Inc.</title>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>BG Energy Capital plc</name>
        <lei>S2M8QDKEE05NZN8JD460</lei>
        <title>BG Energy Capital plc</title>
        <cusip>05541VAF3</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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      <invstOrSec>
        <name>ITC Holdings Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>Griffon Corp.</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>SBA Communications Corp.</name>
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        <name>Regional Management Issuance Trust</name>
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        <name>Radnor RE Ltd.</name>
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        <name>Ascent Resources Utica Holdings LLC</name>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas SA</name>
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        <name>FirstKey Homes Trust</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Apple, Inc.</name>
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        <name>RFM Reremic Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vertiv Group Corp.</name>
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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>NGPL PipeCo LLC</name>
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        <name>Invitation Homes Trust</name>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Jonah Energy ABS II LLC</name>
        <lei>254900MMTK6TS4MGMV20</lei>
        <title>Jonah Energy ABS II LLC, Series 2025-1A, Class B</title>
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        <curCd>USD</curCd>
        <valUSD>4894339.41000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>11.24700000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAK3</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>VOLT XCIII LLC</name>
        <lei>N/A</lei>
        <title>VOLT XCIII LLC, Series 2021-NPL2, Class A1</title>
        <cusip>92873CAA2</cusip>
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        <balance>75674.83000000</balance>
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        <valUSD>75589.89000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.89250160</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2023-2, Class C</title>
        <cusip>80287JAE4</cusip>
        <identifiers>
          <isin value="US80287JAE47"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1517034.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.47000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>FHLMC Multi-Family Structured Credit Risk</name>
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      <invstOrSec>
        <name>DT Midstream, Inc.</name>
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        <name>Republic of Turkiye (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominion Energy, Inc.</name>
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        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
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        <name>Antero Resources Corp.</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
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        <name>FHLMC Pool</name>
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        <title>FHLMC UMBS, 30 Year</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Home Partners of America Trust</name>
        <lei>N/A</lei>
        <title>Home Partners of America Trust, Series 2019-2, Class A</title>
        <cusip>43732TAA9</cusip>
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          <isin value="US43732TAA97"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-19</maturityDt>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
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          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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        <name>Ascent Resources Utica Holdings LLC</name>
        <lei>N/A</lei>
        <title>Ascent Resources Utica Holdings LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <name>First Investors Auto Owner Trust</name>
        <lei>N/A</lei>
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        <cusip>320986AE2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-17</maturityDt>
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          <annualizedRt>6.81000000</annualizedRt>
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        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>98313RAH9</cusip>
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        <balance>650000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Healthpeak OP LLC</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak OP LLC</title>
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        <balance>87000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2015-K48, Class B</title>
        <cusip>30293HAE5</cusip>
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          <isin value="US30293HAE53"/>
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        <balance>200000.00000000</balance>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2023-1A, Class D</title>
        <cusip>96042XAG0</cusip>
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        <balance>905000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.79000000</annualizedRt>
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      <invstOrSec>
        <name>Home Partners of America Trust</name>
        <lei>N/A</lei>
        <title>Home Partners of America Trust, Series 2021-2, Class D</title>
        <cusip>43732VAE6</cusip>
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          <isin value="US43732VAE65"/>
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        <balance>9599158.49000000</balance>
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        <name>CPS Auto Receivables Trust</name>
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      <invstOrSec>
        <name>Takeda Pharmaceutical Co. Ltd.</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <name>General Motors Financial Co., Inc.</name>
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      <invstOrSec>
        <name>FREMF 2020-K116 Mortgage Trust</name>
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        <name>US Bancorp</name>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <invCountry>MX</invCountry>
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          <annualizedRt>10.00000000</annualizedRt>
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        <name>Baker Hughes Holdings LLC</name>
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        <name>Tallgrass Energy Partners LP</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>United States of America</name>
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        <name>Ally Financial, Inc.</name>
        <lei>549300JBN1OSM8YNAI90</lei>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3133KM4M48"/>
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        <balance>4584984.48000000</balance>
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        <name>Entergy Arkansas LLC</name>
        <lei>549300A0I5ONUIFMLP35</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XN4D3</cusip>
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          <isin value="US3140XN4D37"/>
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        <balance>6227372.55000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38145GAM2</cusip>
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        <balance>800000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>DataBank Issuer</name>
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        <name>Flagship Credit Auto Trust</name>
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        <name>Cheniere Energy Partners LP</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>Leidos, Inc.</name>
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        <title>Leidos, Inc.</title>
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        <name>Petco Health &amp; Wellness Co., Inc.</name>
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        <title>Petco Health &amp; Wellness Co., Inc., 1st Lien Term Loan</title>
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        <name>Interstate Power and Light Co.</name>
        <lei>EF9UQIIO4KY2BWOK3P26</lei>
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        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>DNB Bank ASA</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB Bank ASA</title>
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        <name>Alumina Pty. Ltd.</name>
        <lei>N/A</lei>
        <title>Alumina Pty. Ltd.</title>
        <cusip>02220AAA5</cusip>
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        <invCountry>AU</invCountry>

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          <maturityDt>2030-03-15</maturityDt>
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      <invstOrSec>
        <name>Boston Scientific Corp.</name>
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        <title>Boston Scientific Corp.</title>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <title>Oracle Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
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      <invstOrSec>
        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Genesee &amp; Wyoming, Inc.</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
        <title>Genesee &amp; Wyoming, Inc., 1st Lien Term Loan</title>
        <cusip>37156QAZ9</cusip>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-10</maturityDt>
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          <annualizedRt>6.04920000</annualizedRt>
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      <invstOrSec>
        <name>FREMF 2020-K739 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K739, Class D</title>
        <cusip>30289SAS6</cusip>
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          <isin value="US30289SAS68"/>
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        <balance>13500000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-25</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140J1VA3</cusip>
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          <isin value="US3140J1VA33"/>
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        <balance>200000.00000000</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>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.40000000</annualizedRt>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>WP Carey, Inc.</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WP Carey, Inc.</title>
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        <balance>700000.00000000</balance>
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          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <balance>890000.00000000</balance>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.38900000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QLR99</cusip>
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        <balance>3251182.60000000</balance>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2051-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2016-K53, Class C</title>
        <cusip>30288LAQ6</cusip>
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          <isin value="US30288LAQ68"/>
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        <balance>70000.00000000</balance>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
        <title>Antero Midstream Partners LP</title>
        <cusip>03690AAH9</cusip>
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          <isin value="US03690AAH95"/>
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        <balance>1360000.00000000</balance>
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        <valUSD>1346160.37000000</valUSD>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132DQJM9</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <cusip>35563PWX3</cusip>
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          <isin value="US35563PWX31"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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        <balance>588000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>602393.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>RFM Reremic Trust</name>
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        <debtSec>
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          <couponKind>None</couponKind>
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        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
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        <name>EMRLD Borrower LP</name>
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          <isin value="US29103CAA62"/>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133KPJM1</cusip>
        <identifiers>
          <isin value="US3133KPJM14"/>
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        <balance>8907228.66000000</balance>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GA46</cusip>
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          <isin value="US38141GA468"/>
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        <balance>4915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5185166.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.48400000</annualizedRt>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BP Capital Markets America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Palomino Funding Trust I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Shift4 Payments LLC</name>
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        <name>Rio Tinto Finance USA Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PG&amp;E Corp.</name>
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        <name>Cinemark USA, Inc.</name>
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        <name>Norfolk Southern Corp.</name>
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        <name>FNMA</name>
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        <name>Bank of America Corp.</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FHLMC</name>
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        <name>IQVIA, Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA, Inc.</title>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>FHLMC Pool</name>
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        <name>FHLMC</name>
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        <name>FREMF 2018-K082 Mortgage Trust</name>
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        <name>Principal Life Global Funding II</name>
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        <name>Public Storage Operating Co.</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>VOLT CV LLC</name>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
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          <isin value="US33767JAJ16"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prime Security Services Borrower LLC</name>
        <lei>N/A</lei>
        <title>Prime Security Services Borrower LLC</title>
        <cusip>74166MAE6</cusip>
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          <isin value="US74166MAE66"/>
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        <balance>1455000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Identity Digital Ltd.</name>
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          <other otherDesc="Inhouse Sedol" value="O0DD026"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>Atmos Energy Corp.</title>
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          <isin value="US049560BB05"/>
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        <balance>1048000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>American Water Capital Corp.</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>American Water Capital Corp.</title>
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          <isin value="US03040WBC82"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394050.59000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2022-6A, Class D</title>
        <cusip>30168AAF9</cusip>
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          <isin value="US30168AAF93"/>
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        <balance>1291000.00000000</balance>
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        <valUSD>1336021.17000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.03000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shell International Finance BV</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
        <cusip>822582AT9</cusip>
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          <isin value="US822582AT91"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152776.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Corp. Trust, Series 2023-SHIP, Class A</title>
        <cusip>36270GAA9</cusip>
        <identifiers>
          <isin value="US36270GAA94"/>
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        <balance>4140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4106819.14000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-10</maturityDt>
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          <annualizedRt>4.32232920</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Keurig Dr Pepper, Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper, Inc., Series 10</title>
        <cusip>49271VAU4</cusip>
        <identifiers>
          <isin value="US49271VAU44"/>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA/FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA/FHLMC UMBS, Single Family, 30 Year</title>
        <cusip>01F060675</cusip>
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          <isin value="US01F0606750"/>
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        <balance>49000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49417061.54000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>Sherwin-Williams Co. (The)</title>
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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>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAX9</cusip>
        <identifiers>
          <isin value="US05401AAX90"/>
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        <balance>3938000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3919215.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>Piedmont Natural Gas Co., Inc.</name>
        <lei>VXB4M3BDPKF3I2AZ3G89</lei>
        <title>Piedmont Natural Gas Co., Inc.</title>
        <cusip>720186AM7</cusip>
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        <balance>768000.00000000</balance>
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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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          <annualizedRt>3.35000000</annualizedRt>
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      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
        <title>Antero Midstream Partners LP</title>
        <cusip>03690AAF3</cusip>
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          <isin value="US03690AAF30"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>527956.21000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Kingdom of Morocco</name>
        <lei>529900F3MBW9XY5K1X07</lei>
        <title>Kingdom of Morocco</title>
        <cusip>617726AM6</cusip>
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          <isin value="US617726AM65"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263800.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF 2020-K1517</name>
        <lei>N/A</lei>
        <title>FREMF, Series 20K-1517, Class C</title>
        <cusip>30315VAN8</cusip>
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          <isin value="US30315VAN82"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4405161.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-K88, Class C</title>
        <cusip>302971AT3</cusip>
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          <isin value="US302971AT36"/>
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        <balance>1975000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1913844.72000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.38423120</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LFAF1</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Media, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>72375.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-04-17</maturityDt>
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          <annualizedRt>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <cusip>82650BAD8</cusip>
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          <isin value="US82650BAD82"/>
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        <balance>473409.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>489001.91000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.72000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Toorak Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Toorak Mortgage Trust, Series 2024-RRTL1, Class A1</title>
        <cusip>89054YAA1</cusip>
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          <isin value="US89054YAA10"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2008818.80000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-25</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JVFP2</cusip>
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          <isin value="US3140JVFP29"/>
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        <balance>12754.50000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <cusip>20755JAA1</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LEUX3</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cascade MH Asset Trust</name>
        <lei>N/A</lei>
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          <isin value="US14732FAB85"/>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2018-KW04 Trust</name>
        <lei>N/A</lei>
        <title>FREMF Trust, Series 2018-KW04, Class C</title>
        <cusip>30296MAG6</cusip>
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          <isin value="US30296MAG69"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-25</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Great Ajax Operating Partnership LP</name>
        <lei>549300IMX0KE8QJMZ613</lei>
        <title>Great Ajax Operating Partnership LP, Series QIB</title>
        <cusip>38982GAA4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Entegris, Inc.</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris, Inc.</title>
        <cusip>29362UAC8</cusip>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5155, Class JD</title>
        <cusip>3137H35S7</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUB International Ltd.</name>
        <lei>N/A</lei>
        <title>HUB International Ltd., 1st Lien Term Loan</title>
        <cusip>44332EAZ9</cusip>
        <identifiers>
          <isin value="US44332EAZ97"/>
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        <balance>1260047.63240000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-20</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2023-4A, Class E</title>
        <cusip>30166TAG8</cusip>
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        <balance>1120000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
          <maturityDt>2031-02-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.57000000</annualizedRt>
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      <invstOrSec>
        <name>DP Lion Holdco LLC</name>
        <lei>254900327YUW2NAXPW14</lei>
        <title>DP Lion Holdco LLC, Series 2023-1A, Class B</title>
        <cusip>23359MAC4</cusip>
        <identifiers>
          <isin value="US23359MAC47"/>
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        <balance>1228753.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1259840.56000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gulfport Energy Operating Corp.</name>
        <lei>549300FJX18IDUFPHD40</lei>
        <title>Gulfport Energy Operating Corp.</title>
        <cusip>402635AT3</cusip>
        <identifiers>
          <isin value="US402635AT32"/>
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        <balance>1426000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1446613.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Southern California Gas Co.</name>
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        <name>Shutterfly Finance LLC</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Southern California Edison Co.</name>
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        <name>Sensata Technologies BV</name>
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        <name>Oriental Republic of Uruguay</name>
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        <name>Ameren Illinois Co.</name>
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      <invstOrSec>
        <name>Mercury Financial Credit Card Master Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of Montreal</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Civitas Resources, Inc.</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Quanta Services, Inc.</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
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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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      <invstOrSec>
        <name>Darling Ingredients, Inc.</name>
        <lei>L1N0SPPKS7EXZYUMZ898</lei>
        <title>Darling Ingredients, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>Atmos Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHBH2</cusip>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
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        <name>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>National Australia Bank Ltd.</name>
        <lei>549300E2IPL06NDXMZ63</lei>
        <title>National Australia Bank Ltd.</title>
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        <invCountry>AU</invCountry>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FirstKey Homes Trust</name>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WR Grace Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NatWest Group plc</name>
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        <title>NatWest Group plc</title>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-02</maturityDt>
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          <annualizedRt>5.84700000</annualizedRt>
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        <name>Bank of Montreal</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-10</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XGB32</cusip>
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          <isin value="US3140XGB326"/>
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        <curCd>USD</curCd>
        <valUSD>206485.21000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Berry Global, Inc.</name>
        <lei>549300AP2Q7ERHX6RI89</lei>
        <title>Berry Global, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
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        <balance>1010000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-05</maturityDt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U3L56"/>
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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>
        <debtSec>
          <maturityDt>2028-04-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.70700000</annualizedRt>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2021-SFR8, Class E1</title>
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          <isin value="US74333TAJ88"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OCP SA</name>
        <lei>213800D26TAPVTCVWG40</lei>
        <title>OCP SA</title>
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        <invCountry>MA</invCountry>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating LLC</title>
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        <name>Hudson Yards Mortgage Trust</name>
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          <isin value="US44421GAA13"/>
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        <name>CSMC OA LLC</name>
        <lei>549300818AKCJ4Q9TD76</lei>
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        <name>Chemours Co. (The)</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>Chemours Co. (The)</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QQEA9</cusip>
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          <isin value="US3140QQEA90"/>
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        <balance>2016522.30000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>25714PFC7</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>982000.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fiserv, Inc.</name>
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        <name>JBS USA Holding Lux SARL</name>
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      <invstOrSec>
        <name>Allied Universal Holdco LLC</name>
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        <name>FNMA</name>
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        <name>Guardian Life Global Funding</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>FHLMC</name>
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        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <name>FREMF 2020-K113 Mortgage Trust</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <name>Flagship Credit Auto Trust</name>
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        <name>UDR, Inc.</name>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <name>Bank of America Corp.</name>
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        <name>FNMA</name>
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        <name>FHLMC Pool</name>
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        <name>Superior Plus LP</name>
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        <title>Superior Plus LP</title>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
        <lei>N/A</lei>
        <title>Flagship Credit Auto Trust, Series 2020-4, Class D</title>
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          <isin value="US33845XAD93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Baxter International, Inc.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>Baxter International, Inc.</title>
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          <isin value="US071813CV90"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US3617WR6N82"/>
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        <balance>246107.79000000</balance>
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        <curCd>USD</curCd>
        <valUSD>214496.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bioceanico Sovereign Certificate Ltd.</name>
        <lei>N/A</lei>
        <title>Bioceanico Sovereign Certificate Ltd.</title>
        <cusip>09076AAA5</cusip>
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          <isin value="US09076AAA51"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-05</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>549300MQ65NOVQXYNB21</lei>
        <title>Foundation Finance Trust, Series 2021-1A, Class C</title>
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          <isin value="US35041LAC46"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.99000000</annualizedRt>
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      <invstOrSec>
        <name>Take-Two Interactive Software, Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>Take-Two Interactive Software, Inc.</title>
        <cusip>874054AG4</cusip>
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          <isin value="US874054AG47"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>113178.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Noble Finance II LLC</name>
        <lei>N/A</lei>
        <title>Noble Finance II LLC</title>
        <cusip>65505PAA5</cusip>
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          <isin value="US65505PAA57"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>647689.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
        <cusip>81180WBF7</cusip>
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          <isin value="US81180WBF77"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Anchor Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Anchor Mortgage Trust</title>
        <cusip>03332JAB7</cusip>
        <identifiers>
          <isin value="US03332JAB70"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5156382.50000000</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>2031-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>10.13900040</annualizedRt>
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      <invstOrSec>
        <name>Camden Property Trust</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>Camden Property Trust</title>
        <cusip>133131AX0</cusip>
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          <isin value="US133131AX02"/>
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        <balance>130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123215.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Emera US Finance LP</name>
        <lei>N/A</lei>
        <title>Emera US Finance LP</title>
        <cusip>29103DAT3</cusip>
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          <isin value="US29103DAT37"/>
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        <balance>1570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1351858.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63900000</annualizedRt>
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      <invstOrSec>
        <name>Sigeco Securitization I LLC</name>
        <lei>N/A</lei>
        <title>Sigeco Securitization I LLC, Series A2</title>
        <cusip>82655KAB7</cusip>
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          <isin value="US82655KAB70"/>
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        <balance>49000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47501.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.17200000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
        <lei>54930043I78H35DVVW89</lei>
        <title>Entergy Mississippi LLC</title>
        <cusip>29366WAD8</cusip>
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          <isin value="US29366WAD83"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>528060.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>PG&amp;E Wildfire Recovery Funding LLC</name>
        <lei>N/A</lei>
        <title>PG&amp;E Wildfire Recovery Funding LLC, Series A-4</title>
        <cusip>693342AJ6</cusip>
        <identifiers>
          <isin value="US693342AJ65"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36945.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21200000</annualizedRt>
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      <invstOrSec>
        <name>Roc Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Roc Mortgage Trust, Series 2025-RTL1, Class A1</title>
        <cusip>77119RAA4</cusip>
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          <isin value="US77119RAA41"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5983284.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ovintiv, Inc.</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv, Inc.</title>
        <cusip>69047QAC6</cusip>
        <identifiers>
          <isin value="US69047QAC69"/>
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        <balance>1324000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1325782.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ball Corp.</name>
        <lei>0BGI85ALH27ZJP15DY16</lei>
        <title>Ball Corp.</title>
        <cusip>058498AZ9</cusip>
        <identifiers>
          <isin value="US058498AZ97"/>
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        <balance>435000.00000000</balance>
        <units>PA</units>
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        <name>Union Electric Co.</name>
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        <name>Comstock Resources, Inc.</name>
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        <name>Union Pacific Corp.</name>
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        <name>CNO Global Funding</name>
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        <name>FHLMC Pool</name>
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        <name>Starbucks Corp.</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>MV24 Capital BV</name>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3132E0FK3</cusip>
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        <balance>2091086.31000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140NUNT2</cusip>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14748484.80000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
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        <cusip>3140XHE45</cusip>
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        <balance>1538067.82000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>FREED ABS Trust</name>
        <lei>N/A</lei>
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        <cusip>35633KAD8</cusip>
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          <isin value="US35633KAD81"/>
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        <balance>267647.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>266003.31000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140NUPE3</cusip>
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          <isin value="US3140NUPE33"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19785591.40000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Lendingpoint Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>Lendingpoint Asset Securitization Trust, Series 2022-A, Class D</title>
        <cusip>52605AAD9</cusip>
        <identifiers>
          <isin value="US52605AAD90"/>
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        <balance>626620.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>384123.17000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.54000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TN8</cusip>
        <identifiers>
          <isin value="US912810TN81"/>
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        <balance>4682000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3739198.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162DK3</cusip>
        <identifiers>
          <isin value="US031162DK36"/>
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        <balance>5847000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4975041.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Keurig Dr Pepper, Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper, Inc.</title>
        <cusip>49271VBA7</cusip>
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          <isin value="US49271VBA70"/>
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        <balance>3080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3065761.13000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>iHeartCommunications, Inc.</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>iHeartCommunications, Inc.</title>
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          <isin value="US45174HBJ59"/>
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        <balance>1140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.12500000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4281, Class BC</title>
        <cusip>3137B6MM0</cusip>
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          <isin value="US3137B6MM04"/>
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        <balance>68909.42000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68542.15000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Canadian Pacific Railway Co.</name>
        <lei>54930036474DURYNB481</lei>
        <title>Canadian Pacific Railway Co.</title>
        <cusip>13645RBH6</cusip>
        <identifiers>
          <isin value="US13645RBH66"/>
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        <balance>601000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385076.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance Issuance Trust, Series 2021-AA, Class C</title>
        <cusip>56848DAC3</cusip>
        <identifiers>
          <isin value="US56848DAC39"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350952.51000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.96000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 19K-1514, Class C</title>
        <cusip>30315AAB0</cusip>
        <identifiers>
          <isin value="US30315AAB08"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5519346.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5200, Class YV</title>
        <cusip>3137H6G90</cusip>
        <identifiers>
          <isin value="US3137H6G907"/>
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        <balance>3408563.48000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3117500.11000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Performance Food Group, Inc.</name>
        <lei>549300OMUOGBYK0FFO76</lei>
        <title>Performance Food Group, Inc.</title>
        <cusip>71376LAF7</cusip>
        <identifiers>
          <isin value="US71376LAF76"/>
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        <balance>638000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>643133.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>
      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2023-3A, Class C</title>
        <cusip>96041CAL6</cusip>
        <identifiers>
          <isin value="US96041CAL63"/>
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        <balance>2100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2124444.00000000</valUSD>
        <pctVal>0.032771560007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.02000000</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>Georgia Power Co.</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
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      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co. (The)</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>Altar Bidco, Inc.</name>
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        <name>WESCO Distribution, Inc.</name>
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        <name>Societe Generale SA</name>
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        <name>Burlington Northern Santa Fe LLC</name>
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        <name>Westlake Automobile Receivables Trust</name>
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        <name>FNMA</name>
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        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>Duke Energy Florida LLC</title>
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        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
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        <balance>280000.00000000</balance>
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      <invstOrSec>
        <name>Chord Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2020-K105 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rite Aid Corp.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
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      <invstOrSec>
        <name>Bausch Health Americas, Inc.</name>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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      <invstOrSec>
        <name>ITC Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>3617XRCV2</cusip>
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        <balance>574406.50000000</balance>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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          <isin value="US29364GAQ64"/>
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        <balance>3120000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Constellation Energy Generation LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
        <title>Constellation Energy Generation LLC</title>
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          <isin value="US30161MAG87"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Public Storage Operating Co.</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage Operating Co.</title>
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          <isin value="US74460DAJ81"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC, 1st Lien Term Loan</title>
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          <isin value="US64072UAM45"/>
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        <balance>1395707.48240000</balance>
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        <curCd>USD</curCd>
        <valUSD>1376516.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.82871000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EnerSys</name>
        <lei>7ZS3DE5PN30BYUJFWP05</lei>
        <title>EnerSys</title>
        <cusip>29275YAC6</cusip>
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          <isin value="US29275YAC66"/>
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        <balance>630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>609619.88000000</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>2027-12-15</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Crescent Energy Finance LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
        <title>Crescent Energy Finance LLC</title>
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          <isin value="US45344LAC72"/>
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        <curCd>USD</curCd>
        <valUSD>2426397.49000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280FA2</cusip>
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          <isin value="US404280FA24"/>
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        <balance>3970000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4003408.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Frontier Communications Holdings LLC</name>
        <lei>N/A</lei>
        <title>Frontier Communications Holdings LLC</title>
        <cusip>35906ABE7</cusip>
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          <isin value="US35906ABE73"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>235612.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RBX9</cusip>
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          <isin value="US83368RBX98"/>
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        <balance>2078000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2109538.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-19</maturityDt>
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          <annualizedRt>6.06600000</annualizedRt>
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      <invstOrSec>
        <name>Union Electric Co.</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>Union Electric Co.</title>
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        <curCd>USD</curCd>
        <valUSD>1216936.76000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NNN REIT, Inc.</name>
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        <title>NNN REIT, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>Gray Media, Inc.</name>
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        <title>Gray Media, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sunoco LP</name>
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        <title>Sunoco LP</title>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>ATI, Inc.</name>
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        <title>ATI, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YGA7</cusip>
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        <balance>1941000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1972703.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.66399880</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Prologis LP</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>Prologis LP</title>
        <cusip>74340XBZ3</cusip>
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        <balance>149000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129423.11000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank NA</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Genesys Cloud Services, Inc.</name>
        <lei>N/A</lei>
        <title>Genesys Cloud Services, Inc., 1st Lien Term Loan</title>
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          <isin value="US39479UAY91"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MVW LLC</name>
        <lei>N/A</lei>
        <title>MVW LLC, Series 2022-2A, Class C</title>
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        <valUSD>407333.13000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
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        <balance>890000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-06</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-KL3W, Class CW</title>
        <cusip>30307VAQ1</cusip>
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          <isin value="US30307VAQ14"/>
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        <balance>250000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.10300280</annualizedRt>
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        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp</title>
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        <balance>4855000.00000000</balance>
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          <couponKind>Variable</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140HTTZ2</cusip>
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        <balance>514920.93000000</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREMF 2020-K739 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K739, Class X2B</title>
        <cusip>30289SAQ0</cusip>
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          <maturityDt>2053-11-25</maturityDt>
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        <name>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140AELG2</cusip>
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          <isin value="US3140AELG22"/>
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        <balance>7590383.34000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>STAR Trust</name>
        <lei>N/A</lei>
        <title>STAR Trust, Series 2025-SFR5, Class C</title>
        <cusip>85520CAE5</cusip>
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          <isin value="US85520CAE57"/>
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      <invstOrSec>
        <name>Nexstar Media, Inc.</name>
        <lei>5493006PK6I4I2OOT688</lei>
        <title>Nexstar Media, Inc.</title>
        <cusip>65336YAN3</cusip>
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        <balance>565000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>00084DBC3</cusip>
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          <isin value="US00084DBC39"/>
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        <balance>600000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.57500000</annualizedRt>
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        <name>Ameren Illinois Co.</name>
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        <name>FNMA</name>
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        <name>Ajax Mortgage Loan Trust</name>
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        <name>Carnival Corp.</name>
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        <name>Theorem Funding Trust</name>
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        <name>AutoNation Finance Trust</name>
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        <name>FHLMC Pool</name>
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        <name>Consolidated Edison Co. of New York, Inc.</name>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
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        <name>TotalEnergies Capital International SA</name>
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        <title>TotalEnergies Capital International SA</title>
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        <invCountry>FR</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Esab Corp.</name>
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        <title>Esab Corp.</title>
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        <name>FNMA</name>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp.</title>
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        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
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        <name>Baker Hughes Holdings LLC</name>
        <lei>N/A</lei>
        <title>Baker Hughes Holdings LLC</title>
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        <curCd>USD</curCd>
        <valUSD>262978.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>549300QVJKB4ZVR88F06</lei>
        <title>Foundation Finance Trust, Series 2020-1A, Class B</title>
        <cusip>35041KAB8</cusip>
        <identifiers>
          <isin value="US35041KAB89"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299430.30000000</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>2040-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2022-5, Class D</title>
        <cusip>80287HAF5</cusip>
        <identifiers>
          <isin value="US80287HAF55"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6049063.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.67000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CFIN 2022-RTL1 Issuer LLC</name>
        <lei>N/A</lei>
        <title>CFIN 2022-RTL1 Issuer LLC, Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="O1FB0E2"/>
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        <balance>825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>825000.00000000</valUSD>
        <pctVal>0.012726406064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Topgolf Callaway Brands Corp.</name>
        <lei>5493005UB0KFRKBPCU72</lei>
        <title>Topgolf Callaway Brands Corp., 1st Lien Term Loan</title>
        <cusip>89071LAB6</cusip>
        <identifiers>
          <isin value="US89071LAB62"/>
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        <balance>440403.03120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>429282.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.32681000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
        <cusip>29444UBU9</cusip>
        <identifiers>
          <isin value="US29444UBU97"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262981.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Connecticut Light and Power Co. (The)</name>
        <lei>549300O45IUXEDS1VZ32</lei>
        <title>Connecticut Light and Power Co. (The)</title>
        <cusip>207597EL5</cusip>
        <identifiers>
          <isin value="US207597EL50"/>
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        <balance>46000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35182.50000000</valUSD>
        <pctVal>0.000542723371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2022-3, Class C</title>
        <cusip>68378PAC9</cusip>
        <identifiers>
          <isin value="US68378PAC95"/>
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        <balance>65235.59000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65273.51000000</valUSD>
        <pctVal>0.001006905689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.14700000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QPAJ6</cusip>
        <identifiers>
          <isin value="US3140QPAJ62"/>
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        <balance>4421069.77000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3933961.43000000</valUSD>
        <pctVal>0.060685079516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class C</title>
        <cusip>108056AE2</cusip>
        <identifiers>
          <isin value="US108056AE24"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5127718.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
        <cusip>842400HU0</cusip>
        <identifiers>
          <isin value="US842400HU08"/>
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        <balance>719000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>726635.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RBC5</cusip>
        <identifiers>
          <isin value="US83368RBC51"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>193726.03000000</valUSD>
        <pctVal>0.002988407421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.79200000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617UUPQ5</cusip>
        <identifiers>
          <isin value="US3617UUPQ59"/>
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        <balance>693064.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>634889.87000000</valUSD>
        <pctVal>0.009793777323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-20</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>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558BK8</cusip>
        <identifiers>
          <isin value="US375558BK80"/>
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        <balance>330000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263891.01000000</valUSD>
        <pctVal>0.004070768666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</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>Pfizer Investment Enterprises Pte. Ltd.</name>
        <lei>5493000FQO8XF9C0RT95</lei>
        <title>Pfizer Investment Enterprises Pte. Ltd.</title>
        <cusip>716973AG7</cusip>
        <identifiers>
          <isin value="US716973AG71"/>
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        <balance>3275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3001763.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QL2S4</cusip>
        <identifiers>
          <isin value="US3140QL2S48"/>
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        <balance>8625076.82000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7412148.22000000</valUSD>
        <pctVal>0.114339403709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-01</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>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617FYPA9</cusip>
        <identifiers>
          <isin value="US3617FYPA94"/>
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        <balance>958507.75000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>895449.40000000</valUSD>
        <pctVal>0.013813154757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New Evhc Physical Equity</name>
        <lei>N/A</lei>
        <title>New Evhc Physical Equity</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="99TBZZ9H7"/>
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        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>261.57000000</valUSD>
        <pctVal>0.000004034964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <balance>76499.20000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BCPE Pequod Buyer, Inc.</name>
        <lei>N/A</lei>
        <title>BCPE Pequod Buyer, Inc., 1st Lien Term Loan</title>
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          <other otherDesc="CINS" value="05624AAB8"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cascade MH Asset Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth Edison Co.</name>
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        <title>Commonwealth Edison Co.</title>
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          <isin value="US202795JY77"/>
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        <balance>450000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US3617X0WY33"/>
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        <balance>637306.12000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <title>GNMA II</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MIWD Holdco II LLC</name>
        <lei>254900X3SPV5RVFJEY72</lei>
        <title>MIWD Holdco II LLC, 1st Lien Term Loan</title>
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        <assetCat>LON</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2024-1A, Class C</title>
        <cusip>37988XAD7</cusip>
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          <isin value="US37988XAD75"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cascade Funding Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Cascade Funding Mortgage Trust, Series 2021-FRR1, Class AK99</title>
        <cusip>12529YCG5</cusip>
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          <isin value="US12529YCG52"/>
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        <balance>3000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>FirstEnergy Corp.</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp., Series B</title>
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        <balance>2330000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2021-C, Class A</title>
        <cusip>68377WAA9</cusip>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135CJ3</cusip>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Raizen Fuels Finance SA</name>
        <lei>52990010NH26VC32Q522</lei>
        <title>Raizen Fuels Finance SA</title>
        <cusip>75102XAD8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
        <lei>529900AS2CYWYFHRS781</lei>
        <title>Six Flags Entertainment Corp.</title>
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      <invstOrSec>
        <name>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
        <cusip>552953CH2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Hughes Satellite Systems Corp.</name>
        <lei>N/A</lei>
        <title>Hughes Satellite Systems Corp.</title>
        <cusip>444454AD4</cusip>
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          <isin value="US444454AD48"/>
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        <balance>185000.00000000</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Icahn Enterprises LP</name>
        <lei>N/A</lei>
        <title>Icahn Enterprises LP</title>
        <cusip>451102BZ9</cusip>
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        <balance>675000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Diego Gas &amp; Electric Co.</name>
        <lei>KNIRVXKVNJJ4P8OTMS63</lei>
        <title>San Diego Gas &amp; Electric Co.</title>
        <cusip>797440CE2</cusip>
        <identifiers>
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        <name>Viterra Finance BV</name>
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        <name>JBS USA Holding Lux SARL</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>FREMF 2018-K84 Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Business Jet Securities LLC</name>
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        <name>Transocean, Inc.</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>Mariner Finance issuance Trust</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-20</maturityDt>
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        <name>Texas Instruments, Inc.</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.05000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
        <cusip>3617VUE60</cusip>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2071-11-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.83899840</annualizedRt>
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        <name>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc.</title>
        <cusip>98138HAH4</cusip>
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          <isin value="US98138HAH49"/>
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        <balance>172000.00000000</balance>
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        <valUSD>166609.54000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR Trust, Series 2023-SFR2G, Class G1</title>
        <cusip>031928AB0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHTF7</cusip>
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        <balance>771246.39000000</balance>
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        <curCd>USD</curCd>
        <valUSD>752605.82000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.23000000</annualizedRt>
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        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140LHAB6</cusip>
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        <balance>945000.00000000</balance>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GZN7</cusip>
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        <balance>18000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.43600000</annualizedRt>
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        <name>Standard Chartered plc</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered plc</title>
        <cusip>853254BZ2</cusip>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>300000.00000000</balance>
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        <name>NuStar Logistics LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
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        <balance>395000.00000000</balance>
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      <invstOrSec>
        <name>FHLMC MSCR Trust</name>
        <lei>529900NYZHC090WEXH18</lei>
        <title>FHLMC, Series 2023-MN7, Class M2</title>
        <cusip>35563QAB3</cusip>
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        <balance>1240000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <name>ABN AMRO Bank NV</name>
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      <invstOrSec>
        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-13</maturityDt>
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        <name>FNMA</name>
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        <title>FNMA UMBS, 30 Year</title>
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          <isin value="US3140W0L377"/>
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      <invstOrSec>
        <name>Matador Resources Co.</name>
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        <title>Matador Resources Co.</title>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lumen Technologies, Inc.</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>Lumen Technologies, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <name>LHOME Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 19K-1511, Class C</title>
        <cusip>30309KAN0</cusip>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2021-SFR5, Class E2</title>
        <cusip>74333FAF6</cusip>
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          <maturityDt>2038-07-17</maturityDt>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
        <cusip>037833EK2</cusip>
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          <annualizedRt>2.70000000</annualizedRt>
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        <name>Engie SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>Engie SA</title>
        <cusip>29286DAA3</cusip>
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        <balance>715000.00000000</balance>
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        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR3, Class E1</title>
        <cusip>33768EAJ1</cusip>
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        <balance>4500000.00000000</balance>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCJ8</cusip>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>436019.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Gas &amp; Electric Co.</name>
        <lei>KNIRVXKVNJJ4P8OTMS63</lei>
        <title>San Diego Gas &amp; Electric Co.</title>
        <cusip>797440CA0</cusip>
        <identifiers>
          <isin value="US797440CA05"/>
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        <balance>170000.00000000</balance>
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        <valUSD>103550.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>Home Partners of America Trust</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>GNMA</name>
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        <name>Huntington Bancshares, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Banc of America Re-REMIC Trust</name>
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        <name>Foundry JV Holdco LLC</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>BXG Receivables Note Trust</name>
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        <name>Standard Chartered plc</name>
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        <name>American Builders &amp; Contractors Supply Co., Inc.</name>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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        <name>Oportun Issuance Trust</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <invCountry>JP</invCountry>
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        <name>VMware LLC</name>
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        <name>Southern California Edison Co.</name>
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        <title>Southern California Edison Co.</title>
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        <name>Aker BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
        <title>Aker BP ASA</title>
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        <balance>475000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Permian Resources Operating LLC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Panama</name>
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        <title>Republic of Panama</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FXUH3</cusip>
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        <balance>764189.30000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RHP Hotel Properties LP</name>
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          <maturityDt>2028-07-15</maturityDt>
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        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Expand Energy Corp.</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Expand Energy Corp.</title>
        <cusip>845467AT6</cusip>
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        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140N4VV6</cusip>
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        <balance>1750063.00000000</balance>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>213800CVLC5IFCJL6C96</lei>
        <title>New Residential Mortgage Loan Trust, Series 2024-RTL1, Class A1</title>
        <cusip>64831PAA3</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-03-25</maturityDt>
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      <invstOrSec>
        <name>Boost Newco Borrower LLC</name>
        <lei>N/A</lei>
        <title>Boost Newco Borrower LLC, 1st Lien Term Loan B-2</title>
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        <name>Perrigo Finance Unlimited Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal Republic of Nigeria</name>
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        <name>RTX Corp.</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
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        <name>Southwestern Electric Power Co.</name>
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        <name>FNMA</name>
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        <name>Santander UK Group Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PPL Capital Funding, Inc.</name>
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        <name>Glencore Funding LLC</name>
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        <name>FHLMC Multi-Family Structured Credit Risk</name>
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        <name>Carvana Auto Receivables Trust</name>
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        <name>Aqua Finance Trust</name>
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        <name>FHLMC</name>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <name>JPMorgan U.S. Government Money Market Fund</name>
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        <name>PG&amp;E Recovery Funding LLC</name>
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        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XRQ24</cusip>
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          <isin value="US3140XRQ248"/>
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        <balance>5904620.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4858630.32000000</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>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR2, Class F1</title>
        <cusip>33767PAQ1</cusip>
        <identifiers>
          <isin value="US33767PAQ19"/>
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        <balance>6600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6315874.62000000</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>2039-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BK2</cusip>
        <identifiers>
          <isin value="US871829BK24"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225776.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</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>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
        <lei>N/A</lei>
        <title>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</title>
        <cusip>05974EAA8</cusip>
        <identifiers>
          <isin value="US05974EAA82"/>
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        <balance>1005187.09000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>988978.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
        <cusip>92840VAF9</cusip>
        <identifiers>
          <isin value="US92840VAF94"/>
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        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418775.87000000</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>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Terex Corp.</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>Terex Corp., 1st Lien Term Loan</title>
        <cusip>88078FBM9</cusip>
        <identifiers>
          <isin value="US88078FBM95"/>
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        <balance>575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>575241.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.29917000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2025-2A, Class D</title>
        <cusip>37989BAL6</cusip>
        <identifiers>
          <isin value="US37989BAL62"/>
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        <balance>14300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14399302.06000000</valUSD>
        <pctVal>0.222122866745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.59000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHLB4</cusip>
        <identifiers>
          <isin value="US3140LHLB47"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3862013.28000000</valUSD>
        <pctVal>0.059575211186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</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>
      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
        <cusip>78454LAY6</cusip>
        <identifiers>
          <isin value="US78454LAY65"/>
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        <balance>262000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251522.17000000</valUSD>
        <pctVal>0.003879967599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Texas Natural Gas Securitization Finance Corp.</name>
        <lei>N/A</lei>
        <title>Texas Natural Gas Securitization Finance Corp., Customer Rate Relief Bonds, Series 2023A-2</title>
        <cusip>88258MAB1</cusip>
        <identifiers>
          <isin value="US88258MAB19"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44710.71000000</valUSD>
        <pctVal>0.000689705031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.16900000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XL6W3</cusip>
        <identifiers>
          <isin value="US3140XL6W36"/>
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        <balance>5246928.06000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4331378.57000000</valUSD>
        <pctVal>0.066815615154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>United States Cellular Corp.</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp.</title>
        <cusip>911684AD0</cusip>
        <identifiers>
          <isin value="US911684AD06"/>
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        <balance>455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489609.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
        <title>Outfront Media Capital LLC</title>
        <cusip>69007TAB0</cusip>
        <identifiers>
          <isin value="US69007TAB08"/>
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        <balance>461000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>455048.17000000</valUSD>
        <pctVal>0.007019548836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2021-SFR9, Class F</title>
        <cusip>74333QAN5</cusip>
        <identifiers>
          <isin value="US74333QAN51"/>
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        <balance>10450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9922464.15000000</valUSD>
        <pctVal>0.153063403558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05300000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2010-61, Class FK</title>
        <cusip>38377FHC8</cusip>
        <identifiers>
          <isin value="US38377FHC86"/>
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        <balance>1459658.37000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1453709.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.94314920</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>FHLMC Mscr Trust Mn10</name>
        <lei>529900M14O2Z3FO2N217</lei>
        <title>FHLMC, Series 2025-MN10, Class M2</title>
        <cusip>35563UAB4</cusip>
        <identifiers>
          <isin value="US35563UAB44"/>
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        <balance>3700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3677011.53000000</valUSD>
        <pctVal>0.056721384043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.17197040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KDC/ONE Development Corp., Inc.</name>
        <lei>N/A</lei>
        <title>KDC/ONE Development Corp., Inc., 1st Lien Term Loan</title>
        <cusip>C4879HAH2</cusip>
        <identifiers>
          <other otherDesc="CINS" value="C4879HAH2"/>
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        <balance>1023937.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1023087.61000000</valUSD>
        <pctVal>0.015782094987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.32681000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2022-M3, Class A2</title>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>Seagate HDD Cayman</name>
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        <name>Enel Finance International NV</name>
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      <invstOrSec>
        <name>Star Parent, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lendmark Funding Trust</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Renew</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Republic of Kenya</name>
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        <title>Republic of Kenya</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FirstKey Homes Trust</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Lloyds Banking Group plc</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-05</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Quikrete Holdings, Inc., 1st Lien Term Loan B-2</title>
        <cusip>74839XAK5</cusip>
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        <balance>691236.64160000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.57681000</annualizedRt>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-22</maturityDt>
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      <invstOrSec>
        <name>Mid-Atlantic Interstate Transmission LLC</name>
        <lei>N/A</lei>
        <title>Mid-Atlantic Interstate Transmission LLC</title>
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          <isin value="US59524QAA31"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.22700000</annualizedRt>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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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>2035-02-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.82700000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140KQAS0</cusip>
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          <isin value="US3140KQAS09"/>
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        <balance>7324316.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5734802.49000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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          <isin value="US68377KAD90"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-09</maturityDt>
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          <annualizedRt>10.47000000</annualizedRt>
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      <invstOrSec>
        <name>Dana, Inc.</name>
        <lei>KVWHW7YLZPFJM8QYNJ51</lei>
        <title>Dana, Inc.</title>
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          <isin value="US235825AJ53"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>05571AAQ8</cusip>
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          <isin value="US05571AAQ85"/>
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        <balance>1480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1513173.06000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>6.61200000</annualizedRt>
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      <invstOrSec>
        <name>Comision Federal de Electricidad</name>
        <lei>4469000001BFPONMPF32</lei>
        <title>Comision Federal de Electricidad</title>
        <cusip>200447AH3</cusip>
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          <isin value="US200447AH32"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>603750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.34800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XKR69</cusip>
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          <isin value="US3140XKR696"/>
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        <balance>3270171.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3007886.89000000</valUSD>
        <pctVal>0.046399502980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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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        <name>Goldman Sachs Group, Inc. (The)</name>
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      <invstOrSec>
        <name>Cooper-Standard Automotive, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>ANZ New Zealand Int'l Ltd.</name>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
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        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
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      <invstOrSec>
        <name>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Republic of Senegal</name>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <name>Anheuser-Busch Cos. LLC</name>
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        <name>FREMF 2023-K752 Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>30333RAQ8</cusip>
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        <name>Republic of Guatemala</name>
        <lei>529900QKDFFU9UWW5315</lei>
        <title>Republic of Guatemala</title>
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        <invCountry>GT</invCountry>
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      <invstOrSec>
        <name>FREMF 2021-KF112 Mortgage Trust</name>
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        <title>FREMF Mortgage Trust, Series 21K-1519, Class C</title>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
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        <balance>3830000.00000000</balance>
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      <invstOrSec>
        <name>TSMC Global Ltd.</name>
        <lei>549300N2ZLI21P85T117</lei>
        <title>TSMC Global Ltd.</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Merchants Fleet Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCF Equipment Leasing LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cadence Design Systems, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WEC US Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lendmark Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-21</maturityDt>
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        <name>Intuit, Inc.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc.</title>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36179XDD5</cusip>
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        <balance>1626645.41000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
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        <balance>4394000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Rain City Mortgage Trust</name>
        <lei>N/A</lei>
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        <balance>5789000.00000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.53000040</annualizedRt>
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        <name>Bank of New York Mellon Corp. (The)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
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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>SS&amp;C Technologies, Inc.</name>
        <lei>549300KY09TR3J12JU49</lei>
        <title>SS&amp;C Technologies, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2176899701"/>
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        <balance>1500000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Vail Resorts, Inc.</name>
        <lei>529900PSZHRNU9HKH870</lei>
        <title>Vail Resorts, Inc.</title>
        <cusip>91879QAP4</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140KK3D4</cusip>
        <identifiers>
          <isin value="US3140KK3D49"/>
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        <balance>3914047.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3224453.35000000</valUSD>
        <pctVal>0.049740245659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>GNMA</name>
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        <name>EnerSys</name>
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        <name>American Express Co.</name>
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        <name>American Credit Acceptance Receivables Trust</name>
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        <name>JetBlue Airways Corp.</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Expand Energy Corp.</name>
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      <invstOrSec>
        <name>New York Life Insurance Co.</name>
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        <name>FHLMC Pool</name>
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        <name>Phoenix Newco, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>CaixaBank SA</name>
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        <name>ABN AMRO Bank NV</name>
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        <name>Citigroup, Inc.</name>
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        <name>FNMA</name>
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        <name>KBC Group NV</name>
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        <invCountry>BE</invCountry>
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        <name>AMSR Trust</name>
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        <name>MPLX LP</name>
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        <name>GNMA</name>
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        <name>MVW LLC</name>
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        <name>FNMA</name>
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        <name>Elara HGV Timeshare Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NGL Energy Operating LLC</name>
        <lei>N/A</lei>
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        <balance>273000.00000000</balance>
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        <invCountry>US</invCountry>
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          <annualizedRt>8.12500000</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>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
        <cusip>10373QBU3</cusip>
        <identifiers>
          <isin value="US10373QBU31"/>
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        <balance>3760000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3690501.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.81200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2021-KHG3, Class BFX</title>
        <cusip>30323AAN4</cusip>
        <identifiers>
          <isin value="US30323AAN46"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>887073.50000000</valUSD>
        <pctVal>0.013683948570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.40093000</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>Jetblue Airways Corp.</name>
        <lei>N/A</lei>
        <title>Jetblue Airways Corp., 1st Lien Term Loan</title>
        <cusip>G5112TAB9</cusip>
        <identifiers>
          <isin value="XAG5112TAB98"/>
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        <balance>995000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>966393.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.05469000</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>NYMT Loan Trust</name>
        <lei>254900Q6RDCV3HGA6340</lei>
        <title>NYMT Loan Trust, Series 2024-BPL3, Class A1</title>
        <cusip>67119RAA5</cusip>
        <identifiers>
          <isin value="US67119RAA59"/>
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        <balance>4395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4361666.56000000</valUSD>
        <pctVal>0.067282836074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.26799880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="WNU5COM"/>
          <other otherDesc="Future Ticker" value="WNU5 Comdty"/>
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        <balance>1865.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4897980.20000000</valUSD>
        <pctVal>0.075555981724</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>U.S. Treasury Ultra Bond</issueTitle>
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                  <ticker value="WNU5 Comdty"/>
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              </otherRefInst>
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            <expDate>2025-09-19</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>4897980.20000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Scentre Group Trust 1</name>
        <lei>N/A</lei>
        <title>Scentre Group Trust 1</title>
        <cusip>806213AD6</cusip>
        <identifiers>
          <isin value="US806213AD65"/>
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        <balance>160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158972.38000000</valUSD>
        <pctVal>0.002452299467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-28</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>
      <invstOrSec>
        <name>ReadyCap Lending Small Business Loan Trust</name>
        <lei>N/A</lei>
        <title>ReadyCap Lending Small Business Loan Trust, Series 2019-2, Class A</title>
        <cusip>75576QAA6</cusip>
        <identifiers>
          <isin value="US75576QAA67"/>
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        <balance>17586.70210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17574.34000000</valUSD>
        <pctVal>0.000271100832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.99999840</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Cote d'Ivoire</name>
        <lei>254900ICW11T82O6H590</lei>
        <title>Republic of Cote d'Ivoire</title>
        <cusip>221625AV8</cusip>
        <identifiers>
          <isin value="US221625AV83"/>
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        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1508088.00000000</valUSD>
        <pctVal>0.023263685175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.07500000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36179X2E5</cusip>
        <identifiers>
          <isin value="US36179X2E54"/>
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        <balance>16096498.20000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13492306.12000000</valUSD>
        <pctVal>0.208131595676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR3, Class F1</title>
        <cusip>33768EAQ5</cusip>
        <identifiers>
          <isin value="US33768EAQ52"/>
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        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6455453.20000000</valUSD>
        <pctVal>0.099581477279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-17</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613BJ6</cusip>
        <identifiers>
          <isin value="US902613BJ61"/>
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        <balance>483000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492652.78000000</valUSD>
        <pctVal>0.007599635548</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.42800000</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>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
        <cusip>23918KAS7</cusip>
        <identifiers>
          <isin value="US23918KAS78"/>
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        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1588549.53000000</valUSD>
        <pctVal>0.024504880451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF 2019-KW10 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-KW10, Class X2A</title>
        <cusip>30298XAE5</cusip>
        <identifiers>
          <isin value="US30298XAE58"/>
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        <balance>35567148.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112637.60000000</valUSD>
        <pctVal>0.001737541619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QRRS4</cusip>
        <identifiers>
          <isin value="US3140QRRS45"/>
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        <balance>1694025.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1646713.67000000</valUSD>
        <pctVal>0.025402117377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Southwestern Electric Power Co.</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>Southwestern Electric Power Co.</title>
        <cusip>845437BT8</cusip>
        <identifiers>
          <isin value="US845437BT80"/>
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        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>129775.90000000</valUSD>
        <pctVal>0.002001916122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</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>
      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>213800CVLC5IFCJL6C96</lei>
        <title>New Residential Mortgage Loan Trust, Series 2024-RTL1, Class M1</title>
        <cusip>64831PAC9</cusip>
        <identifiers>
          <isin value="US64831PAC95"/>
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        <balance>3250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3273426.00000000</valUSD>
        <pctVal>0.050495695150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.29832840</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Other</title>
        <cusip>3617YYCU8</cusip>
        <identifiers>
          <isin value="US3617YYCU84"/>
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        <balance>13175894.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11465350.27000000</valUSD>
        <pctVal>0.176863882679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JXLV8</cusip>
        <identifiers>
          <isin value="US3140JXLV88"/>
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        <balance>151259.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129030.12000000</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>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LHXY1</cusip>
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          <isin value="US3140LHXY12"/>
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        <balance>661000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>667498.63000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</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>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
        <cusip>210518CU8</cusip>
        <identifiers>
          <isin value="US210518CU85"/>
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        <balance>1610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1287357.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Graham Packaging Co., Inc.</name>
        <lei>549300YS0ZFT826HIK72</lei>
        <title>Graham Packaging Co., Inc., 1st Lien Term Loan</title>
        <cusip>38469EAE3</cusip>
        <identifiers>
          <isin value="US38469EAE32"/>
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        <balance>738556.74040000</balance>
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        <curCd>USD</curCd>
        <valUSD>738357.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-04</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.82681000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
        <cusip>842400HY2</cusip>
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          <isin value="US842400HY20"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>611931.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iHeartCommunications, Inc.</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>iHeartCommunications, Inc.</title>
        <cusip>45174HBM8</cusip>
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          <isin value="US45174HBM88"/>
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        <balance>231400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>178207.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</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 UMBS, 30 Year</title>
        <cusip>3140K0AV0</cusip>
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          <isin value="US3140K0AV08"/>
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        <balance>3345.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3101.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K118, Class X2B</title>
        <cusip>30316TAQ5</cusip>
        <identifiers>
          <isin value="US30316TAQ58"/>
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        <balance>31043000.00000000</balance>
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        <curCd>USD</curCd>
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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>2053-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class E</title>
        <cusip>107933AG8</cusip>
        <identifiers>
          <isin value="US107933AG80"/>
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        <balance>6990000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7160258.93000000</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>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.43000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RKA9</cusip>
        <identifiers>
          <isin value="US00206RKA94"/>
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        <balance>1015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705718.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Re-REMIC Trust, Series 2025-FRR5, Class D736</title>
        <cusip>05494BAG2</cusip>
        <identifiers>
          <isin value="US05494BAG23"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3713324.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-27</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Pagaya AI Technology in Housing Trust</name>
        <lei>N/A</lei>
        <title>Pagaya AI Technology in Housing Trust, Series 2022-1, Class G</title>
        <cusip>69547NAH7</cusip>
        <identifiers>
          <isin value="US69547NAH70"/>
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        <balance>3000000.00000000</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>2025-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.48000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3618AW2Y9</cusip>
        <identifiers>
          <isin value="US3618AW2Y95"/>
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        <balance>2809107.33000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bridge Trust</name>
        <lei>N/A</lei>
        <title>Bridge Trust, Series 2022-SFR1, Class A</title>
        <cusip>10805VAA5</cusip>
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          <isin value="US10805VAA52"/>
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        <balance>7364270.44000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-17</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>ACCO Brands Corp.</name>
        <lei>JCT8P4Y190IH4I1NX328</lei>
        <title>ACCO Brands Corp.</title>
        <cusip>00081TAK4</cusip>
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          <isin value="US00081TAK43"/>
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        <balance>1697000.00000000</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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      <invstOrSec>
        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
        <cusip>10373QBR0</cusip>
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          <isin value="US10373QBR02"/>
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        <balance>630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>452965.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.06000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lendmark Funding Trust</name>
        <lei>N/A</lei>
        <title>Lendmark Funding Trust, Series 2025-1A, Class E</title>
        <cusip>52604QAE3</cusip>
        <identifiers>
          <isin value="US52604QAE35"/>
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        <balance>4745000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4813740.34000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.91000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>TEGNA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Porsche Financial Auto Securitization Trust</name>
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      <invstOrSec>
        <name>Edgewell Personal Care Co.</name>
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        <name>Intuit, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>US Bancorp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MH Sub I LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boost Newco Borrower LLC</name>
        <lei>254900S8RE1OL7TTCU64</lei>
        <title>Boost Newco Borrower LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tricon Residential Trust</name>
        <lei>N/A</lei>
        <title>Tricon Residential Trust, Series 2025-SFR1, Class C</title>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <name>CoreWeave, Inc.</name>
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        <name>N/A</name>
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        <name>Pine Street Trust III</name>
        <lei>N/A</lei>
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        <name>ACRE Commercial Mortgage Ltd.</name>
        <lei>N/A</lei>
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        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
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        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ATS Corp.</name>
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      <invstOrSec>
        <name>Fair Isaac Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>American Water Capital Corp.</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA, Inc.</name>
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        <name>Tucson Electric Power Co.</name>
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        <title>Tucson Electric Power Co.</title>
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        <name>Burlington Northern Santa Fe LLC</name>
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        <name>Simon Property Group LP</name>
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        <title>Simon Property Group LP</title>
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        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
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          <maturityDt>2046-02-15</maturityDt>
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        <name>NRZ FHT Excess LLC</name>
        <lei>N/A</lei>
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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <name>BPCE SA</name>
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        <invCountry>FR</invCountry>
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        <name>Rite Aid Corp.</name>
        <lei>529900W353T1JY1DKT44</lei>
        <title>Rite Aid Corp., Escrow</title>
        <cusip>767ESCAG1</cusip>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <name>BAMLL Re-REMIC Trust</name>
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        <title>BAMLL Re-REMIC Trust, Series 2025-FRR5, Class CK86</title>
        <cusip>05494BBE6</cusip>
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        <balance>4000000.00000000</balance>
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        <valUSD>3198252.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-27</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Central Parent LLC</name>
        <lei>N/A</lei>
        <title>Central Parent LLC, 1st Lien Term Loan</title>
        <cusip>15477BAE7</cusip>
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        <balance>820875.00000000</balance>
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        <valUSD>729257.14000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <name>Entergy Texas Restoration Funding II LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>Columbia Pipelines Holding Co. LLC</name>
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        <name>FNMA</name>
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          <maturityDt>2029-02-01</maturityDt>
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        <name>Elastic NV</name>
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        <name>GNMA</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>AutoZone, Inc.</name>
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        <name>FNMA</name>
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        <name>Santander UK Group Holdings plc</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies, Inc.</title>
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        <name>Cooper-Standard Automotive, Inc.</name>
        <lei>ITCH5B3Q4RTX2PH9UN62</lei>
        <title>Cooper-Standard Automotive, Inc.</title>
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        <name>Zimmer Biomet Holdings, Inc.</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>Zimmer Biomet Holdings, Inc.</title>
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        <name>Prologis LP</name>
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      <invstOrSec>
        <name>BG Beta I Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Sealed Air Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-20</maturityDt>
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      <invstOrSec>
        <name>KLA Corp.</name>
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        <title>KLA Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Penske Automotive Group, Inc.</name>
        <lei>549300W7UTQ0M4C7LB15</lei>
        <title>Penske Automotive Group, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Expand Energy Corp.</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Expand Energy Corp.</title>
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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>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Tierra Mojada Luxembourg II SARL</name>
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        <title>Tierra Mojada Luxembourg II SARL</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AIB Group plc</name>
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        <invCountry>IE</invCountry>
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        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Home Depot, Inc. (The)</name>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <invCountry>US</invCountry>
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        <name>PG&amp;E Energy Recovery Funding LLC</name>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2007-89, Class F</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
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        <cusip>30168CAE8</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>ConocoPhillips Co.</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>ConocoPhillips Co.</title>
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        <balance>2540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2480585.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
        <title>Wynn Resorts Finance LLC</title>
        <cusip>983133AC3</cusip>
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        <balance>985000.00000000</balance>
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        <name>1261229 BC Ltd.</name>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>Home Partners of America Trust</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>FHLMC</name>
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        <name>Morgan Stanley</name>
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        <name>Jonah Energy Abs LLC</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>GAM Re-REMIC Trust</name>
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        <name>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
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        <name>Benin Government International Bond</name>
        <lei>635400Q11P6AE5A5Y230</lei>
        <title>Benin Government Bond</title>
        <cusip>08205QAC2</cusip>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
        <cusip>969457BZ2</cusip>
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          <maturityDt>2032-08-15</maturityDt>
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        <name>BMD2 Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BMD2 Re-REMIC Trust, Series 2019-FRR1, Class 5B13</title>
        <cusip>055631GM1</cusip>
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        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
        <cusip>871607AD9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Carvana Auto Receivables Trust, Series 2022-P1, Class A4</title>
        <cusip>14688DAD3</cusip>
        <identifiers>
          <isin value="US14688DAD30"/>
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        <balance>3500000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.52000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Consumers 2023 Securitization Funding LLC</name>
        <lei>N/A</lei>
        <title>Consumers 2023 Securitization Funding LLC, Series A2</title>
        <cusip>21071BAB1</cusip>
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          <isin value="US21071BAB18"/>
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        <balance>771000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>781143.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Turkiye (The)</name>
        <lei>5493000PCHOG3B6S3Q85</lei>
        <title>Republic of Turkiye (The)</title>
        <cusip>900123DP2</cusip>
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          <isin value="US900123DP27"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>684971.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122DX3</cusip>
        <identifiers>
          <isin value="US110122DX32"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125171.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133KM4F9</cusip>
        <identifiers>
          <isin value="US3133KM4F96"/>
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        <balance>2989253.56000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2551566.96000000</valUSD>
        <pctVal>0.039360336041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR1, Class E1</title>
        <cusip>33768NAJ1</cusip>
        <identifiers>
          <isin value="US33768NAJ19"/>
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        <balance>3165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3131150.64000000</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>2039-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LFXZ2</cusip>
        <identifiers>
          <isin value="US3140LFXZ21"/>
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        <balance>2015010.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1803855.54000000</valUSD>
        <pctVal>0.027826179496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SMRT</name>
        <lei>N/A</lei>
        <title>SMRT, Series 2022-MINI, Class F</title>
        <cusip>78457JAQ5</cusip>
        <identifiers>
          <isin value="US78457JAQ58"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4860018.50000000</valUSD>
        <pctVal>0.074970386561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.67900160</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>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy, Inc.</title>
        <cusip>25746UDW6</cusip>
        <identifiers>
          <isin value="US25746UDW62"/>
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        <balance>6730000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6794593.40000000</valUSD>
        <pctVal>0.104813035943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Wisconsin Public Service Corp.</name>
        <lei>549300BJRHJVYNUMQZ30</lei>
        <title>Wisconsin Public Service Corp.</title>
        <cusip>976843BJ0</cusip>
        <identifiers>
          <isin value="US976843BJ00"/>
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        <balance>69000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60008.15000000</valUSD>
        <pctVal>0.000925682526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75200000</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>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
        <cusip>95081QAP9</cusip>
        <identifiers>
          <isin value="US95081QAP90"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>708274.00000000</valUSD>
        <pctVal>0.010925797004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>OCP SA</name>
        <lei>213800D26TAPVTCVWG40</lei>
        <title>OCP SA</title>
        <cusip>67091TAJ4</cusip>
        <identifiers>
          <isin value="US67091TAJ43"/>
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        <balance>670000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>658149.38000000</valUSD>
        <pctVal>0.010152577286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BMD2 Re-Remic Trust</name>
        <lei>N/A</lei>
        <title>BMD2 Re-REMIC Trust, Series 2019-FRR1, Class 5D1</title>
        <cusip>055631BY0</cusip>
        <identifiers>
          <isin value="US055631BY00"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1779208.00000000</valUSD>
        <pctVal>0.027445967856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>BAMLL Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Re-REMIC Trust, Series 2024-FRR3, Class D</title>
        <cusip>054988AG5</cusip>
        <identifiers>
          <isin value="US054988AG54"/>
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        <balance>11563000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10290402.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.57568680</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>Southern Co. (The)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. (The)</title>
        <cusip>842587DR5</cusip>
        <identifiers>
          <isin value="US842587DR51"/>
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        <balance>109000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108858.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</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>Marlette Funding Trust</name>
        <lei>N/A</lei>
        <title>Marlette Funding Trust, Series 2023-2A, Class C</title>
        <cusip>57109LAC7</cusip>
        <identifiers>
          <isin value="US57109LAC72"/>
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        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>377294.40000000</valUSD>
        <pctVal>0.005820123321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.96000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LKHL0</cusip>
        <identifiers>
          <isin value="US3140LKHL04"/>
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        <balance>2368369.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2362979.63000000</valUSD>
        <pctVal>0.036451197932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.71000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XJ4W0</cusip>
        <identifiers>
          <isin value="US3140XJ4W08"/>
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        <balance>1651904.82000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1561183.68000000</valUSD>
        <pctVal>0.024082736307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Vistra Operations Co. LLC</name>
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        <name>Sirius XM Radio LLC</name>
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        <name>FNMA</name>
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        <name>Mizuho Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Select Receivables Trust</name>
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        <name>Block, Inc.</name>
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        <name>Guardian Life Global Funding</name>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-23</maturityDt>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <invCountry>FR</invCountry>
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        <name>Apple, Inc.</name>
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        <name>General Motors Co.</name>
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        <title>General Motors Co.</title>
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        <name>FHLMC</name>
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        <name>United States Steel Corp.</name>
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        <name>MYT Holding LLC</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <name>CoreVest American Finance Trust</name>
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        <name>Emera US Finance LP</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>Amer Sports Co.</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Citigroup, Inc.</name>
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        <name>FNMA</name>
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        <name>Tenet Healthcare Corp.</name>
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        <title>Tenet Healthcare Corp.</title>
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        <name>Bunge Ltd. Finance Corp.</name>
        <lei>549300QHC068L40NNM71</lei>
        <title>Bunge Ltd. Finance Corp.</title>
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        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QEDX7</cusip>
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        <name>FHF Issuer Trust</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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          <annualizedRt>7.10000000</annualizedRt>
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        <name>DT Midstream, Inc.</name>
        <lei>N/A</lei>
        <title>DT Midstream, Inc.</title>
        <cusip>23345MAC1</cusip>
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          <isin value="US23345MAC10"/>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>ASB Bank Ltd.</name>
        <lei>549300IBZWZL1KTPF918</lei>
        <title>ASB Bank Ltd.</title>
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          <isin value="US00216LAE39"/>
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        <invCountry>NZ</invCountry>
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        <name>ZF North America Capital, Inc.</name>
        <lei>529900JYGMS9CW9IQX78</lei>
        <title>ZF North America Capital, Inc.</title>
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        <balance>790000.00000000</balance>
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        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>DT Auto Owner Trust, Series 2023-3A, Class E</title>
        <cusip>23345WAE5</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>10.21000000</annualizedRt>
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        <name>Hilton Worldwide Finance LLC</name>
        <lei>N/A</lei>
        <title>Hilton Worldwide Finance LLC</title>
        <cusip>432891AK5</cusip>
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        <balance>955000.00000000</balance>
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        <valUSD>951963.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
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        <name>FHLMC MSCR Trust</name>
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        <name>Entergy Louisiana LLC</name>
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        <name>FMC GMSR Issuer Trust</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Octane Receivables Trust</name>
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        <name>Boeing Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>WEC Energy Group, Inc.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-25</maturityDt>
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          <annualizedRt>2.87500000</annualizedRt>
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        <name>Graphic Packaging International LLC</name>
        <lei>SO75N4VY5NXGQSK8YQ65</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.37500000</annualizedRt>
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        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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        <balance>250000.00000000</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>2035-01-23</maturityDt>
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          <annualizedRt>5.67800000</annualizedRt>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
        <cusip>651229BE5</cusip>
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        <balance>1500000.00000000</balance>
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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>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <name>AmeriGas Partners LP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP</title>
        <cusip>030981AJ3</cusip>
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        <balance>540000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MAW5</cusip>
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        <balance>4747000.00000000</balance>
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        <invCountry>IE</invCountry>
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      <invstOrSec>
        <name>XPO, Inc.</name>
        <lei>54930096DB9LCLPN7H13</lei>
        <title>XPO, Inc.</title>
        <cusip>98379KAB8</cusip>
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        <balance>1885000.00000000</balance>
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        <invCountry>US</invCountry>
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          <annualizedRt>7.12500000</annualizedRt>
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        <name>Guara Norte SARL</name>
        <lei>549300U2I4L03BBA3485</lei>
        <title>Guara Norte SARL</title>
        <cusip>400666AA1</cusip>
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        <balance>479190.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2014-H03, Class FA</title>
        <cusip>38375UEJ5</cusip>
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        <balance>7706.14000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7748.28000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Service Corp. International</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp. International</title>
        <cusip>817565CG7</cusip>
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        <balance>735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>677484.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Duke Energy Corp.</name>
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        <name>Nabors Industries, Inc.</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <name>Duke Energy Carolinas LLC</name>
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        <name>Citigroup, Inc.</name>
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        <name>FREMF K-100 Mortgage Trust</name>
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        <name>AMSR Trust</name>
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        <name>FREMF 17-K68 Mortgage Trust</name>
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        <name>Seasoned Loans Structured Transaction Trust</name>
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        <name>NCR Atleos Corp.</name>
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        <name>Bimbo Bakeries USA, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>FNMA</name>
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        <name>FREMF 2017-K69 Mortgage Trust</name>
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        <name>Truist Financial Corp.</name>
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        <name>UDR, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <name>ReadyCap Holdings LLC</name>
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      <invstOrSec>
        <name>FREMF 2020-K122 Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Entergy Arkansas LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OneMain Direct Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>OneMain Direct Auto Receivables Trust, Series 2019-1A, Class B</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2022-M2, Class A2</title>
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          <isin value="US3136BK6X56"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-25</maturityDt>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust, Series 2022-2A, Class D</title>
        <cusip>43283GAD4</cusip>
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          <isin value="US43283GAD43"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2024-1A, Class C</title>
        <cusip>68377JAE0</cusip>
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        <name>Brink's Co. (The)</name>
        <lei>XFP140TFNOQMIVFTVQ13</lei>
        <title>Brink's Co. (The)</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2018-1, Class M60C</title>
        <cusip>35563PEL9</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>Eversource Energy</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
        <cusip>29364WAY4</cusip>
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      <invstOrSec>
        <name>PG&amp;E Recovery Funding LLC</name>
        <lei>N/A</lei>
        <title>PG&amp;E Recovery Funding LLC, Series A-3</title>
        <cusip>71710TAF5</cusip>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61744YAK4</cusip>
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      <invstOrSec>
        <name>Axalta Coating Systems LLC</name>
        <lei>549300G80QONCHILSF69</lei>
        <title>Axalta Coating Systems LLC</title>
        <cusip>05453GAC9</cusip>
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        <balance>800000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Conair Holdings LLC</name>
        <lei>549300804G00T34FLV17</lei>
        <title>Conair Holdings LLC, 1st Lien Term Loan B</title>
        <cusip>20600RAB8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FXUL4</cusip>
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        <balance>712828.71000000</balance>
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        <name>Calpine Corp.</name>
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        <name>Federal Republic of Nigeria</name>
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        <name>United States of America</name>
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        <name>FNMA</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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      <invstOrSec>
        <name>Oklahoma Gas and Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Alliant Energy Finance LLC</name>
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        <curCd>USD</curCd>
        <valUSD>333441.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-06</maturityDt>
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          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
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        <name>Jonah Energy Abs I LLC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Marvell Technology, Inc.</name>
        <lei>N/A</lei>
        <title>Marvell Technology, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>DTE Energy Co.</name>
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        <title>DTE Energy Co.</title>
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        <balance>500000.00000000</balance>
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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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        <name>Westlake Automobile Receivables Trust</name>
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        <cusip>959926AG1</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
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        <title>FNMA, Other</title>
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        <balance>1500000.00000000</balance>
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          <couponKind>Fixed</couponKind>
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        <name>ACHV ABS TRUST</name>
        <lei>N/A</lei>
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        <cusip>000876AC6</cusip>
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          <isin value="US000876AC64"/>
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        <name>Ecopetrol SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Asurion LLC</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>Asurion LLC, 1st Lien Term Loan B-11</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3132E0FW7</cusip>
        <identifiers>
          <isin value="US3132E0FW77"/>
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        <balance>4554479.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4182818.46000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830CG2</cusip>
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          <isin value="US539830CG29"/>
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        <balance>3260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3276763.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
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        <name>Vital Energy, Inc.</name>
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        <name>William Carter Co. (The)</name>
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        <name>FNMA</name>
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        <name>Standard Industries, Inc.</name>
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        <name>FHLMC</name>
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        <name>Truist Financial Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Ford Motor Co.</name>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <name>Eastern Energy Gas Holdings LLC</name>
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        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <name>BPCE SA</name>
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        <name>HINNT LLC</name>
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        <name>NRZ Excess Spread-Collateralized Notes</name>
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        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2021-3A, Class E</title>
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        <name>Istanbul Metropolitan Municipality</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
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      <invstOrSec>
        <name>Center Street Lending Resi-Investor ABS Mortgage Trust</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>EquipmentShare.com, Inc.</name>
        <lei>254900PWJK48CGPKPI80</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp., 1st Lien Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Boston Gas Co.</name>
        <lei>FN7P4E7K9JOBORDEUX61</lei>
        <title>Boston Gas Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.00100000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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      <invstOrSec>
        <name>MEG Energy Corp.</name>
        <lei>5493002WXPTG5ZC1T326</lei>
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        <name>BXP Trust</name>
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        <name>TransCanada PipeLines Ltd.</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>MH Sub I LLC</name>
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        <title>MH Sub I LLC, 1st Lien Term Loan</title>
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        <name>Constellation Energy Generation LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
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        <name>Business Jet Securities LLC</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury STRIPS Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Realty Income Corp.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Republic of Colombia</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Seagate HDD Cayman</name>
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        <invCountry>KY</invCountry>

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        <name>FHLMC</name>
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        <name>Ford Motor Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cascade MH Asset Trust</name>
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        <name>Visa, Inc.</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>AutoZone, Inc.</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Hertz Vehicle Financing III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
        <title>Hertz Vehicle Financing LLC, Series 2023-3A, Class A</title>
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          <maturityDt>2028-02-25</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Diamond Foreign Asset Co.</name>
        <lei>N/A</lei>
        <title>Diamond Foreign Asset Co.</title>
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          <isin value="US25260WAD39"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>741289.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Oportun Funding Trust</name>
        <lei>N/A</lei>
        <title>Oportun Funding Trust, Series 2024-3, Class B</title>
        <cusip>68377NAB7</cusip>
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          <isin value="US68377NAB73"/>
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        <balance>3617000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3614157.04000000</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>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.48000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>3617FDD91</cusip>
        <identifiers>
          <isin value="US3617FDD919"/>
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        <balance>1169075.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1208749.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multi-Family Structured Credit Risk</name>
        <lei>N/A</lei>
        <title>FHLMC, Multi-Family Structured Credit Risk, Series 2021-MN3, Class M2</title>
        <cusip>35563GAB5</cusip>
        <identifiers>
          <isin value="US35563GAB59"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4640413.50000000</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>2051-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.32196880</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22535WAN7</cusip>
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          <isin value="US22535WAN74"/>
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        <balance>3090000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3139197.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.86200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Entergy Texas, Inc.</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas, Inc.</title>
        <cusip>29365TAK0</cusip>
        <identifiers>
          <isin value="US29365TAK07"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>455511.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAN2</cusip>
        <identifiers>
          <isin value="US89788MAN20"/>
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        <balance>2300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2329693.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.04700000</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>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2020-SFR2, Class F1</title>
        <cusip>33767JAL6</cusip>
        <identifiers>
          <isin value="US33767JAL61"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>986425.60000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.01700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BV8</cusip>
        <identifiers>
          <isin value="US893647BV82"/>
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        <balance>1145000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1169623.23000000</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>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>13608JAA5</cusip>
        <identifiers>
          <isin value="US13608JAA51"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>460440.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.26000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance Issuance Trust, Series 2020-AA, Class D</title>
        <cusip>56848MAD1</cusip>
        <identifiers>
          <isin value="US56848MAD11"/>
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        <balance>1582441.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1580936.64000000</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>2034-08-21</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>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
        <cusip>36168QAQ7</cusip>
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          <isin value="US36168QAQ73"/>
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        <balance>2305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2390974.20000000</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>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-A, Class D</title>
        <cusip>68377TAD0</cusip>
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          <isin value="US68377TAD00"/>
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        <balance>10659000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10503559.80000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140NMHN0</cusip>
        <identifiers>
          <isin value="US3140NMHN08"/>
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        <balance>2645336.48000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2635647.80000000</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>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2022-M13, Class A2</title>
        <cusip>3136BNX43</cusip>
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          <isin value="US3136BNX437"/>
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        <balance>1372000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1216488.74000000</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>2032-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.59373880</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LB4R1</cusip>
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          <isin value="US3140LB4R15"/>
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        <balance>936570.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>819533.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.81500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Re-REMIC Trust, Series 2025-FRR5, Class DK86</title>
        <cusip>05494BBG1</cusip>
        <identifiers>
          <isin value="US05494BBG14"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3070396.00000000</valUSD>
        <pctVal>0.047363765182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-27</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>Hilcorp Energy I LP</name>
        <lei>N/A</lei>
        <title>Hilcorp Energy I LP</title>
        <cusip>431318AU8</cusip>
        <identifiers>
          <isin value="US431318AU81"/>
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        <name>Simon Property Group LP</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>UniCredit SpA</name>
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        <name>McDonald's Corp.</name>
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        <name>RTX Corp.</name>
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        <name>Quest Diagnostics, Inc.</name>
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        <name>Regional Management Issuance Trust</name>
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        <name>AMSR Trust</name>
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        <name>Synopsys, Inc.</name>
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        <name>Caesars Entertainment, Inc.</name>
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        <name>American Airlines, Inc.</name>
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        <name>FHLMC Pool</name>
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        <title>FHLMC UMBS, 30 Year</title>
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        <name>Mid-America Apartments LP</name>
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        <title>Mid-America Apartments LP</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single Family, 30 Year</title>
        <cusip>21H050664</cusip>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Marvell Technology, Inc.</name>
        <lei>N/A</lei>
        <title>Marvell Technology, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cascade MH Asset Trust</name>
        <lei>N/A</lei>
        <title>Cascade MH Asset Trust, Series 2024-MH1, Class B1</title>
        <cusip>14731VAE8</cusip>
        <identifiers>
          <isin value="US14731VAE83"/>
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        <balance>2402000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2452537.36000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.50399840</annualizedRt>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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          <isin value="US91324PBN15"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>784141.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>New York Life Insurance Co.</name>
        <lei>TAE73CY392TBWJ3O3305</lei>
        <title>New York Life Insurance Co.</title>
        <cusip>64952GAQ1</cusip>
        <identifiers>
          <isin value="US64952GAQ10"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37852.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UKG, Inc.</name>
        <lei>529900FKHWSTQ1GXK240</lei>
        <title>UKG, Inc., 1st Lien Term Loan</title>
        <cusip>89841EAB1</cusip>
        <identifiers>
          <isin value="US89841EAB11"/>
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        <balance>2447029.54760000</balance>
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        <curCd>USD</curCd>
        <valUSD>2450944.79000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.32850000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QEXT4</cusip>
        <identifiers>
          <isin value="US3140QEXT41"/>
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        <balance>4045831.38000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3349685.00000000</valUSD>
        <pctVal>0.051672062423</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VAZ3</cusip>
        <identifiers>
          <isin value="US29273VAZ31"/>
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        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1067203.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Buckeye Partners LP</name>
        <lei>549300C1PQJLVEIUBK50</lei>
        <title>Buckeye Partners LP</title>
        <cusip>118230AQ4</cusip>
        <identifiers>
          <isin value="US118230AQ44"/>
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        <balance>795000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>779490.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
        <cusip>842400JH7</cusip>
        <identifiers>
          <isin value="US842400JH78"/>
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        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>287339.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GJZ3</cusip>
        <identifiers>
          <isin value="US06051GJZ37"/>
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        <balance>635000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>589477.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.08700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>New York Life Global Funding</title>
        <cusip>64952WCX9</cusip>
        <identifiers>
          <isin value="US64952WCX92"/>
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        <balance>51000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49420.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>DT Auto Owner Trust, Series 2023-1A, Class D</title>
        <cusip>23346KAG5</cusip>
        <identifiers>
          <isin value="US23346KAG58"/>
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        <balance>1440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1458593.71000000</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>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.44000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Energy Assets</name>
        <lei>N/A</lei>
        <title>Energy Assets</title>
        <cusip>302704AB7</cusip>
        <identifiers>
          <isin value="US302704AB71"/>
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        <balance>1485065.60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1495977.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.10600000</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>Columbia Pipelines Operating Co. LLC</name>
        <lei>N/A</lei>
        <title>Columbia Pipelines Operating Co. LLC</title>
        <cusip>19828TAE6</cusip>
        <identifiers>
          <isin value="US19828TAE64"/>
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        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210986.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.49700000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rio Tinto Finance USA plc</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>Rio Tinto Finance USA plc</title>
        <cusip>76720AAG1</cusip>
        <identifiers>
          <isin value="US76720AAG13"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304576.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ventas Realty LP</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>Ventas Realty LP</title>
        <cusip>92277GBA4</cusip>
        <identifiers>
          <isin value="US92277GBA40"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>961576.95000000</valUSD>
        <pctVal>0.014833234822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp.</title>
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        <name>Oracle Corp.</name>
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        <name>Banco Nacional de Comercio Exterior SNC</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Civitas Resources, Inc.</name>
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        <name>Civitas Resources, Inc.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>Ball Corp.</name>
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        <name>Octane Receivables Trust</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>GNMA</name>
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        <name>ACC Trust</name>
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        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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          <annualizedRt>6.25000000</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>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc.</title>
        <cusip>097751BX8</cusip>
        <identifiers>
          <isin value="US097751BX80"/>
        </identifiers>
        <balance>1590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1588960.09000000</valUSD>
        <pctVal>0.024511213728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2010-H24, Class FA</title>
        <cusip>38375BGP1</cusip>
        <identifiers>
          <isin value="US38375BGP13"/>
        </identifiers>
        <balance>16647.66000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16674.44000000</valUSD>
        <pctVal>0.000257219023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.78343880</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>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
        <cusip>29336UAC1</cusip>
        <identifiers>
          <isin value="US29336UAC18"/>
        </identifiers>
        <balance>1975000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1762261.10000000</valUSD>
        <pctVal>0.027184545879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>31418EBS8</cusip>
        <identifiers>
          <isin value="US31418EBS81"/>
        </identifiers>
        <balance>5792290.56000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4735234.02000000</valUSD>
        <pctVal>0.073045467818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-30</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>
