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        <name>SANTANDER BANK, N.A.</name>
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        <name>HOMEWOOD ALA EDL BLDG AUTH REV</name>
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        <name>Truist Financial Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OCTAGON INVESTMENT PARTNERS, LTD.</name>
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        <name>EVERGREEN CREDIT CARD TRUST</name>
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          <maturityDt>2026-11-15</maturityDt>
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        <name>CITIGROUP COMMERCIAL MORTGAGE TRUST</name>
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        <name>AMUR EQUIPMENT FINANCE RECEIVABLES LLC</name>
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        <name>KEYCORP</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <issuerCat>UST</issuerCat>
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        <name>YARA INTERNATIONAL ASA</name>
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        <name>XPO ESCROW SUB, LLC</name>
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        <name>United States of America</name>
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        <name>TENET HEALTHCARE CORPORATION</name>
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        <name>STRATUS CLO LTD.</name>
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        <name>DISH NETWORK CORPORATION</name>
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        <name>BX COMMERCIAL MORTGAGE TRUST</name>
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        <name>BP CAPITAL MARKETS P.L.C.</name>
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        <name>SANTANDER BANK, N.A.</name>
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        <name>VICI PROPERTIES L.P.</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rogers Communications Inc.</name>
        <lei>54930030NVF3Y2OL0A78</lei>
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          <isin value="US775109CD18"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>720 EAST CLO LTD</name>
        <lei>N/A</lei>
        <title>720 EAST CLO 2022 I LTD</title>
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          <isin value="US81785AAG31"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST</name>
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          <isin value="US46640JAW71"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-01-15</maturityDt>
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      <invstOrSec>
        <name>BPR TRUST</name>
        <lei>N/A</lei>
        <title>BPR TRUST 2022 STAR</title>
        <cusip>055980AA4</cusip>
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          <isin value="USU0951XAA10"/>
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        <balance>211364.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209149.79000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-15</maturityDt>
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      <invstOrSec>
        <name>PLAINS ALL AMERICAN PIPELINE, L.P.</name>
        <lei>5521FA2ITF25TVH63740</lei>
        <title>PLAINS ALL AMERICAN PIPELINE LP</title>
        <cusip>72650RBN1</cusip>
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          <isin value="US72650RBN17"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
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      <invstOrSec>
        <name>SCF EQUIPMENT LEASING LLC</name>
        <lei>N/A</lei>
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          <isin value="US783897AF83"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>420256.73000000</valUSD>
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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>2030-09-20</maturityDt>
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          <annualizedRt>1.93000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAGELLAN MIDSTREAM PARTNERS, L.P.</name>
        <lei>MZF5TI8NFVZZNUSKDL39</lei>
        <title>MAGELLAN MIDSTREAM PARTNERS LP</title>
        <cusip>559080AG1</cusip>
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          <isin value="US559080AG18"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>435015.00000000</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>2043-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUTONATION, INC.</name>
        <lei>N/A</lei>
        <title>AUTONATION INC</title>
        <cusip>05329WAS1</cusip>
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          <isin value="US05329WAS17"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>359200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>NRG ENERGY, INC.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG ENERGY INC</title>
        <cusip>629377CL4</cusip>
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          <isin value="US629377CL46"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>440740.00000000</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>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>NORTHERN TRUST CORPORATION</name>
        <lei>549300GLF98S992BC502</lei>
        <title>NORTHERN TRUST CORP</title>
        <cusip>665859AX2</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>264280.00000000</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>2032-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HUDSON YARDS MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>HUDSON YARDS 2019 30HY MORTGAGE TRUST</title>
        <cusip>44421GAA1</cusip>
        <identifiers>
          <isin value="USU44354AA35"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1031843.45000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-10</maturityDt>
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          <annualizedRt>3.22800000</annualizedRt>
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      <invstOrSec>
        <name>TRINITY RAIL LEASING LLC</name>
        <lei>N/A</lei>
        <title>TRINITY RAIL LEASING 2022 LLC</title>
        <cusip>89656RAA8</cusip>
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          <isin value="US89656RAA86"/>
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        <balance>492614.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>447486.55000000</valUSD>
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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>2052-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>AUTONATION, INC.</name>
        <lei>N/A</lei>
        <title>AUTONATION INC</title>
        <cusip>05329RAA1</cusip>
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          <isin value="US05329RAA14"/>
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        <balance>750000.00000000</balance>
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        <valUSD>599475.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>EVERGREEN CREDIT CARD TRUST</name>
        <lei>N/A</lei>
        <title>EVERGREEN CREDIT CARD TRUST</title>
        <cusip>30023JBT4</cusip>
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          <isin value="US30023JBT43"/>
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        <balance>391000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>362710.25000000</valUSD>
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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>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.15000000</annualizedRt>
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      <invstOrSec>
        <name>DIAMOND ISSUER LLC</name>
        <lei>N/A</lei>
        <title>DIAMOND ISSUER</title>
        <cusip>25267TAQ4</cusip>
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          <isin value="US25267TAQ40"/>
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        <balance>654000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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          <maturityDt>2051-11-20</maturityDt>
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          <annualizedRt>2.70100000</annualizedRt>
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      <invstOrSec>
        <name>HOST HOTELS &amp; RESORTS, L.P.</name>
        <lei>FXB7X4WXVA8QPMNOGS12</lei>
        <title>HOST HOTELS RESORTS LP</title>
        <cusip>44107TAZ9</cusip>
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        <balance>250000.00000000</balance>
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        <valUSD>206227.50000000</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>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK N Y CITY HSG DEV CORP REV</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY HOUSING DEVELOPMENT CORP</title>
        <cusip>64966WHC4</cusip>
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          <isin value="US64966WHC47"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>228514.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>DENTSPLY SIRONA INC.</name>
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        <name>AVENTURA MALL VENTURE</name>
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        <name>STRATUS STATIC CLO LTD</name>
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        <name>SPIRIT IP CAYMAN LTD.</name>
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        <name>OSCAR US FUNDING TRUST</name>
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        <name>AVIS BUDGET RENTAL CAR FUNDING</name>
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        <name>ENTERPRISE FLEET FINANCING LLC</name>
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        <name>Federal National Mortgage Association</name>
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          <isin value="US31418EHL74"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AOA MORTGAGE TRUST</name>
        <lei>N/A</lei>
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          <isin value="USU0021MAF06"/>
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        <name>RHP HOTEL PROPERTIES, LP</name>
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          <isin value="US749571AG03"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U S TREASURY BOND</title>
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        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WILLIS NORTH AMERICA INC.</name>
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        <name>BROWN &amp; BROWN, INC.</name>
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        <name>Brookfield Finance Inc.</name>
        <lei>549300XH8D8K6OYWGD17</lei>
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        <name>MIDWEST CONNECTOR CAPITAL COMPANY LLC</name>
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        <name>United States of America</name>
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        <name>EVERGREEN CREDIT CARD TRUST</name>
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        <name>7-ELEVEN, INC.</name>
        <lei>549300K23JPL0SS3LB18</lei>
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        <name>BBCMS TRUST</name>
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        <title>BBCMS MORTGAGE TRUST 2022 C16</title>
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        <name>HUB INTERNATIONAL LIMITED</name>
        <lei>549300JQT6ATTUNS5E06</lei>
        <title>HUB INTERNATIONAL</title>
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        <name>PENFED AUTO RECEIVABLES OWNER TRUST</name>
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        <name>CARVANA AUTO RECEIVABLES TRUST</name>
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        <name>GOLDEN CREDIT CARD TRUST</name>
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        <name>ANHEUSER-BUSCH INBEV WORLDWIDE INC.</name>
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        <name>EAGLE MATERIALS INC.</name>
        <lei>529900KRXRGXL61SG039</lei>
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        <name>MHC COMMERCIAL MORTGAGE TRUST</name>
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        <name>HYUNDAI AUTO RECEIVABLES TRUST</name>
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        <name>ENEL - SPA</name>
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        <name>NXP B.V.</name>
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        <name>United States of America</name>
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        <name>REYNOLDS CONSUMER PRODUCTS LLC</name>
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        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
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        <name>BROOKFIELD FINANCE I (UK) PLC</name>
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        <name>CAMB COMMERCIAL MORTGAGE TRUST</name>
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        <name>ARI FLEET LEASE TRUST</name>
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        <title>ARI FLEET LEASE TRUST 2022 A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2031-01-15</maturityDt>
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      <invstOrSec>
        <name>BAMLL COMMERCIAL MORTGAGE SECURITIES TRUST</name>
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        <cusip>05526QAJ5</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FLATIRON CLO LTD</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THE DOW CHEMICAL COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-15</maturityDt>
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      <invstOrSec>
        <name>GLP Capital, L.P.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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      <invstOrSec>
        <name>GLOBAL ATLANTIC (FIN) COMPANY</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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      <invstOrSec>
        <name>CARDS II TRUST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIRSTKEY HOMES TRUST</name>
        <lei>N/A</lei>
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        <cusip>33768JBL4</cusip>
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          <isin value="US33768JAA97"/>
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        <balance>741925.83000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMGEN INC.</name>
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        <title>AMGEN INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-01-15</maturityDt>
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        <name>Ferguson Finance Plc</name>
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        <title>FERGUSON FINANCE PLC</title>
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        <balance>250000.00000000</balance>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>KUBOTA CREDIT OWNER TRUST</name>
        <lei>N/A</lei>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Ontario Teachers' Cadillac Fairview Properties Trust</name>
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        <title>ONTARIO TEACHERS CADILLAC FAIRVIEW PROP</title>
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        <invCountry>CA</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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        <name>LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY</name>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FEDERAL HOME LOAN MORTGAGE CORPORATION</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>ALCON FINANCE CORPORATION</name>
        <lei>549300CUZUI9VU7XNK42</lei>
        <title>ALCON FINANCE CORP</title>
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          <isin value="US01400EAF07"/>
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      <invstOrSec>
        <name>BX COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST</title>
        <cusip>05605NAA5</cusip>
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          <isin value="USU1222PAA94"/>
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        <balance>500000.00000000</balance>
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          <maturityDt>2044-03-09</maturityDt>
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      <invstOrSec>
        <name>DOLLAR TREE, INC.</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>DOLLAR TREE INC</title>
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        <balance>500000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <name>INVITATION HOMES OPERATING PARTNERSHIP LP</name>
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        <name>ARES FINANCE CO. IV LLC</name>
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        <name>COMM MORTGAGE TRUST</name>
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        <name>Kraft Heinz Foods Company</name>
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        <name>ZOOMINFO TECHNOLOGIES LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>PAWNEE EQUIPMENT RECEIVABLES LLC</name>
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        <name>WESTPAC BANKING CORPORATION</name>
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        <name>AIMCO CLO LTD</name>
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        <name>Federal National Mortgage Association</name>
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        <name>United States of America</name>
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        <name>CHASE AUTO CREDIT LINKED NOTES</name>
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        <name>BBCMS TRUST</name>
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        <name>VERIZON MASTER TRUST</name>
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        <name>CENTENE CORPORATION</name>
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        <name>Freddie Mac</name>
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        <name>SREIT COMMERCIAL MORTGAGE TRUST</name>
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        <name>HSBC HOLDINGS PLC</name>
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        <name>37 CAPITAL CLO LTD</name>
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        <name>CSC HOLDINGS, LLC</name>
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        <name>STRATUS STATIC CLO LTD</name>
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        <name>SOCIETE GENERALE SA</name>
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        <name>MARRIOTT INTERNATIONAL, INC.</name>
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        <name>HERTZ VEHICLE FINANCING III LLC</name>
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        <name>TRIMARAN CAVU LTD</name>
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        <name>GOLUB CAPITAL PARTNERS CLO LTD</name>
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        <name>NEW ECONOMY ASSETS PHASE I SPONSOR LLC</name>
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        <name>MTN COMMERCIAL MORTGAGE TRUST</name>
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      <invstOrSec>
        <name>CARVANA AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-11</maturityDt>
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      <invstOrSec>
        <name>DELTA 2 LUX SARL</name>
        <lei>N/A</lei>
        <title>DELTA 2 LUX SARL</title>
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          <other otherDesc="Internal" value="LX209369"/>
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        <curCd>USD</curCd>
        <valUSD>499375.00000000</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>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAB Holdings B.V.</name>
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          <isin value="US46653KAB44"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
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          <isin value="US09261HAJ68"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EVERGREEN CREDIT CARD TRUST</name>
        <lei>N/A</lei>
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          <isin value="US30023JBU16"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIRSTKEY HOMES TRUST</name>
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          <isin value="US33768JAG67"/>
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        <balance>750000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-17</maturityDt>
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      <invstOrSec>
        <name>VERTICAL BRIDGE CC LLC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-02-15</maturityDt>
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      <invstOrSec>
        <name>DUNKIN BRANDS</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-20</maturityDt>
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      <invstOrSec>
        <name>SCF EQUIPMENT LEASING LLC</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OWL ROCK CORE INCOME CORP.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NEWELL BRANDS INC.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>NEWELL BRANDS INC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TRICON RESIDENTIAL TRUST</name>
        <lei>N/A</lei>
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        <name>GENERAL MILLS, INC.</name>
        <lei>2TGYMUGI08PO8X8L6150</lei>
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        <name>United States of America</name>
        <lei>N/A</lei>
        <title>10 YEAR US TREASURY NOTE FUTURE MAR23</title>
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        <name>STATE STREET CORPORATION</name>
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        <name>HILTON USA TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>The Huntington National Bank</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United States of America</name>
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        <name>T-MOBILE USA, INC.</name>
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        <name>FLAGSHIP CREDIT AUTO TRUST</name>
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        <name>SkyMiles IP Ltd.</name>
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        <title>DELTA AIR LINES SKYMILES</title>
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        <name>Carnival Corporation</name>
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        <name>BX COMMERCIAL MORTGAGE TRUST</name>
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        <name>BXP TRUST</name>
        <lei>N/A</lei>
        <title>BXP TRUST 2017 GM</title>
        <cusip>05607TAE2</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-01-15</maturityDt>
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          <annualizedRt>2.77546000</annualizedRt>
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      <invstOrSec>
        <name>AIRCASTLE LIMITED</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>AIRCASTLE LTD</title>
        <cusip>00928QAS0</cusip>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SMRT COMMERCIAL MORTGAGE TRUST</name>
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        <name>DRYDEN CLO LTD</name>
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        <title>DRYDEN 112 CLO LTD</title>
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        <name>ASHTEAD CAPITAL, INC.</name>
        <lei>213800J1134IW58IC398</lei>
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        <name>OSCAR US FUNDING TRUST</name>
        <lei>549300GTSLUONMR77U11</lei>
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        <name>WORKDAY, INC.</name>
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        <name>KOHL'S CORPORATION</name>
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        <name>SOTHEBY'S</name>
        <lei>549300P5BAAMQQ7VL735</lei>
        <title>SOTHEBY S</title>
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        <name>ACUITY BRANDS LIGHTING, INC.</name>
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      <invstOrSec>
        <name>COSTAR GROUP, INC.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Whatabrands LLC</name>
        <lei>254900HMMX4HTWIP0085</lei>
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          <isin value="US96244UAF49"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CENTRAL PARENT INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TSTAT LTD</name>
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        <title>TSTAT 2022 1 LTD</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-20</maturityDt>
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        <name>MASTER CREDIT CARD TRUST II</name>
        <lei>N/A</lei>
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          <isin value="US576339CL79"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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          <isin value="US912810PX00"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>VERTICAL BRIDGE CC LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>AT&amp;T INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SANTANDER CONSUMER AUTO RECEIVABLES TRUST</name>
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        <name>VULCAN MATERIALS COMPANY</name>
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        <name>HUDSON YARDS MORTGAGE TRUST</name>
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        <name>FIRSTKEY HOMES TRUST</name>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <name>GS MORTGAGE SECURITIES CORPORATION TRUST</name>
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        <name>ILPT COMMERCIAL MORTGAGE TRUST</name>
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        <name>SUMIT MORTGAGE TRUST</name>
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        <title>SUMIT 2022 BVUE MORTGAGE TRUST</title>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PRESTIGE BRANDS, INC.</name>
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        <valUSD>172872.26000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SANTANDER DRIVE AUTO RECEIVABLES TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>EVERGREEN CREDIT CARD TRUST</name>
        <lei>N/A</lei>
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        <cusip>30023JBV9</cusip>
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          <isin value="US30023JBV98"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.61000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NORDSTROM, INC.</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>NORDSTROM INC</title>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CNT HOLDINGS I CORP</name>
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        <cusip>12656AAC3</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUND POINT CLO</name>
        <lei>N/A</lei>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-25</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pentair Finance S.a r.l.</name>
        <lei>549300H2U8U8TZPV3T89</lei>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIR LEASE CORPORATION</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP</title>
        <cusip>00914AAS1</cusip>
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          <isin value="US00914AAS15"/>
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        <balance>500000.00000000</balance>
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        <valUSD>398855.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>FLAGSHIP CREDIT AUTO TRUST</name>
        <lei>N/A</lei>
        <title>FLAGSHIP CREDIT AUTO TRUST</title>
        <cusip>33845DAD3</cusip>
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          <isin value="US33845DAD30"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.33000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METLIFE, INC.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC</title>
        <cusip>59156RBS6</cusip>
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          <isin value="US59156RBS67"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291892.50000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2068-04-08</maturityDt>
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          <annualizedRt>9.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>GROUP 1 AUTOMOTIVE, INC.</name>
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          <isin value="US398905AN98"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85020.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios II</ncom:nameOfApplicant>
      <ncom:signature>Allan Shaer</ncom:signature>
      <ncom:signerName>Allan Shaer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
