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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AFFIRM ASSET SECURITIZATION TRUST</name>
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        <name>AKAMAI TECHNOLOGIES, INC.</name>
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        <name>AKAMAI TECHNOLOGIES, INC.</name>
        <lei>OC1LZNN2LF5WTJ5RIL89</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALBEMARLE CORPORATION</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALBERTSONS COMPANIES, INC.</name>
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          <isin value="US01309QAA67"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Alibaba Group Holding Limited</name>
        <lei>5493001NTNQJDH60PM02</lei>
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        <valUSD>5895258.49000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>ALIBABA GROUP HOLDING</title>
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        <name>Alibaba Group Holding Limited</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALLIANT ENERGY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>ALLIANT ENERGY CORP</title>
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        <name>ALLIANT ENERGY CORPORATION</name>
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        <name>ALLY BANK AUTO CREDIT-LINKED NOTES</name>
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        <name>ALLY BANK AUTO CREDIT-LINKED NOTES</name>
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        <title>ALLY BANK AUTO CREDIT-LINKED NOTES SERIES 2024-B ABCLN 2024-B G</title>
        <cusip>02007G4H3</cusip>
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          <isin value="US02007G4H32"/>
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        <name>ALTA EQUIPMENT GROUP INC.</name>
        <lei>549300DGOB28CLGS1X27</lei>
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        <cusip>02128LAC0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>AADVANTAGE LOYALTY IP LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <title>AMSR 2023-SFR2 TRUST AMSR 2023-SFR2 F2</title>
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        <name>ANCHORAGE CAPITAL CLO LTD</name>
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        <name>ANCHORAGE CAPITAL CLO LTD</name>
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        <name>ANCHORAGE CAPITAL CLO LTD</name>
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          <isin value="US03332RAA14"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>APIDOS CLO</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>APIDOS CLO</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>APIDOS CLO</name>
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        <title>APIDOS CLO XXIII APID 2015-23A ERR</title>
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          <isin value="US03766QAJ94"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>APOLLO GLOBAL MANAGEMENT, INC.</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>APOLLO GLOBAL MANAGEMENT INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AQUA FINANCE TRUST</name>
        <lei>N/A</lei>
        <title>AQUA FINANCE TRUST 2024-A AQFIT 2024-A A</title>
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          <isin value="US03837DAA28"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ARBOR REALTY COMMERCIAL REAL ESTATE NOTES LTD</name>
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        <title>ARBOR REALTY COMMERCIAL REAL ESTATE NOTES 2022-FL1 ARCLO 2022-FL1 D</title>
        <cusip>03880XAJ5</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>ARCOSA, INC.</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>ARCOSA INC 144A 4.375000% 04/15/2029</title>
        <cusip>039653AA8</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARCOSA, INC.</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>ARCOSA INC 144A 6.875000% 08/15/2032</title>
        <cusip>039653AC4</cusip>
        <identifiers>
          <isin value="US039653AC46"/>
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        <balance>1010000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1048198.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARDONAGH FINCO LIMITED</name>
        <lei>254900D2T84O1K03BA28</lei>
        <title>ARDONAGH FINCO LTD 144A 7.750000% 02/15/2031</title>
        <cusip>039853AA4</cusip>
        <identifiers>
          <isin value="US039853AA46"/>
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        <balance>1179000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1232607.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AREIT LTD.</name>
        <lei>N/A</lei>
        <title>AREIT 2022-CRE6 TRUST AREIT 2022-CRE6 D</title>
        <cusip>04002VAJ0</cusip>
        <identifiers>
          <isin value="US04002VAJ08"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARES CAPITAL CORPORATION.</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>ARES CAPITAL CORP 2.875000% 06/15/2028</title>
        <cusip>04010LBB8</cusip>
        <identifiers>
          <isin value="US04010LBB80"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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        <name>ARES CAPITAL CORPORATION.</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>ARES CAPITAL CORP 5.875000% 03/01/2029</title>
        <cusip>04010LBF9</cusip>
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          <isin value="US04010LBF94"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ARES CAPITAL CORPORATION.</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>ARES CAPITAL CORP 7.000000% 01/15/2027</title>
        <cusip>04010LBE2</cusip>
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          <isin value="US04010LBE20"/>
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        <name>ARES CLO LTD</name>
        <lei>N/A</lei>
        <title>ARES LII CLO LTD ARES 2019-52A ERR</title>
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          <isin value="US04009FAG46"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARES CLO LTD</name>
        <lei>N/A</lei>
        <title>ARES XLV CLO LTD ARES 2017-45A ER</title>
        <cusip>04015VAG1</cusip>
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          <isin value="US04015VAG14"/>
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        <balance>1780000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARKO CORP.</name>
        <lei>N/A</lei>
        <title>ARKO CORP 144A 5.125000% 11/15/2029</title>
        <cusip>041242AA6</cusip>
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          <isin value="US041242AA67"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BAMLL COMMERCIAL MORTGAGE SECURITIES TRUST</name>
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        <cusip>05492PAA6</cusip>
        <identifiers>
          <isin value="US05492PAA66"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="All Others" value="FSCOLLBOA"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1700000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BANK OF AMERICA COLLATERAL BALANCE FS FUNDS</title>
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        <identifiers>
          <other otherDesc="All Others" value="FSCOLLBOA"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BANK OF AMERICA COLLATERAL BALANCE FS FUNDS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="FSCOLLBOA"/>
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        <balance>2710000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2710000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BANK OF AMERICA COLLATERAL BALANCE FS FUNDS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="FSCOLLBOA"/>
        </identifiers>
        <balance>2428848.33000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2428848.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>BARCLAYS BANK PLC 144A ZERO COUPON 12/29/2025</title>
        <cusip>YS2761296</cusip>
        <identifiers>
          <isin value="XS2920897084"/>
        </identifiers>
        <balance>148959685.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158581735.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2025</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2998461995"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50856050.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-29</maturityDt>
          <couponKind>Fixed</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>BARINGS EURO CLO DAC</name>
        <lei>N/A</lei>
        <title>BARINGS EURO CLO 2024-1 DAC BABSE 2024-1A D</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2831526186"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.84893000"/>
        <valUSD>1774547.37000000</valUSD>
        <pctVal>0.100183892980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.73599960</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>Bausch + Lomb Corporation</name>
        <lei>549300NY6OZM39SO6475</lei>
        <title>BAUSCH + LOMB CORP 144A 8.375000% 10/01/2028</title>
        <cusip>071705AA5</cusip>
        <identifiers>
          <isin value="US071705AA56"/>
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        <balance>1506000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1571887.50000000</valUSD>
        <pctVal>0.088742522030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</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>BDS LTD</name>
        <lei>N/A</lei>
        <title>BDS 2024-FL13 LLC BDS 2024-FL13 A</title>
        <cusip>05555MAA7</cusip>
        <identifiers>
          <isin value="US05555MAA71"/>
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        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8019704.00000000</valUSD>
        <pctVal>0.452760619892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.89372920</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>BEACON MOBILITY FINANCE CORP.</name>
        <lei>N/A</lei>
        <title>BEACON MOBILITY CORP 144A 7.250000% 08/01/2030</title>
        <cusip>073644AA4</cusip>
        <identifiers>
          <isin value="US073644AA49"/>
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        <balance>1602000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1635692.69000000</valUSD>
        <pctVal>0.092344709515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</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>
      <invstOrSec>
        <name>BELRON UK FINANCE PLC</name>
        <lei>9845006BC9D1A77B8178</lei>
        <title>BELRON UK FINANCE PLC 144A 5.750000% 10/15/2029</title>
        <cusip>080782AA3</cusip>
        <identifiers>
          <isin value="US080782AA38"/>
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        <balance>2062000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2079203.88000000</valUSD>
        <pctVal>0.117383588919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BENCHMARK MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2020-B18 MORTGAGE TRUST BMARK 2020-B18 AGNF</title>
        <cusip>08163ABR3</cusip>
        <identifiers>
          <isin value="US08163ABR32"/>
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        <balance>378000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373644.53000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.13900000</annualizedRt>
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          <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>BENCHMARK MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2025-V13 MORTGAGE TRUST BMARK 2025-V13 HCD</title>
        <cusip>08164ABN1</cusip>
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          <isin value="US08164ABN19"/>
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        <balance>2610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2567888.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <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>N/A</name>
        <lei>N/A</lei>
        <title>BLCKRCK CASH-TRSRY-INST MONEY MARKET</title>
        <cusip>066922659</cusip>
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          <isin value="US0669226591"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10320579.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLOOM ENERGY CORPORATION</name>
        <lei>549300XB5J9BFW5JXV97</lei>
        <title>BLOOM ENERGY CORP 3.000000% 06/01/2028</title>
        <cusip>093712AK3</cusip>
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          <isin value="US093712AK34"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1134393.00000000</valUSD>
        <pctVal>0.064043321035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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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          <isDefault>N</isDefault>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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              <title>BLOOM ENERGY CORP</title>
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                <isin value="US093712AK34"/>
                <ticker value="BE"/>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLOOM ENERGY CORPORATION</name>
        <lei>549300XB5J9BFW5JXV97</lei>
        <title>BLOOM ENERGY CORP- A COMMON STOCK</title>
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        <identifiers>
          <isin value="US0937121079"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-763239.36000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLUE OWL CAPITAL CORPORATION</name>
        <lei>2549000BD79OOCPF2L94</lei>
        <title>BLUE OWL CAPITAL CORP 6.200000% 07/15/2030</title>
        <cusip>69121KAJ3</cusip>
        <identifiers>
          <isin value="US69121KAJ34"/>
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        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267696.89000000</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>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BLUE OWL CREDIT INCOME CORP.</name>
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        <cusip>09581CAD3</cusip>
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          <isin value="US09581CAD39"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BLUE OWL TECHNOLOGY FINANCE CORP.</name>
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          <isin value="US69121JAB35"/>
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        <balance>959000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
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          <other otherDesc="All Others" value="TFXMRGU01"/>
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        <balance>227073.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>BNP Paribas</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BOMBARDIER INC.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>BOMBARDIER INC 144A 7.875000% 04/15/2027</title>
        <cusip>097751BT7</cusip>
        <identifiers>
          <isin value="US097751BT78"/>
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        <balance>2709000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2724647.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</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>BOYCE PARK CLO, LTD.</name>
        <lei>N/A</lei>
        <title>BOYCE PARK CLO LTD BOYCE 2022-1A E</title>
        <cusip>103226AA4</cusip>
        <identifiers>
          <isin value="US103226AA40"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>998601.00000000</valUSD>
        <pctVal>0.056377044313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.52237880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRAVO RESIDENTIAL FUNDING TRUST</name>
        <lei>N/A</lei>
        <title>BRAVO RESIDENTIAL FUNDING TRUST 2024-CES2 BRAVO 2024-CES2 A1A</title>
        <cusip>10570PAA1</cusip>
        <identifiers>
          <isin value="US10570PAA12"/>
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        <balance>8885112.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8916005.21000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRAVO RESIDENTIAL FUNDING TRUST</name>
        <lei>N/A</lei>
        <title>BRAVO RESIDENTIAL FUNDING TRUST 2024-NQM1 BRAVO 2024-NQM1 B2</title>
        <cusip>10570FAF2</cusip>
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          <isin value="US10570FAF27"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99724.73000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2063-12-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRAVO RESIDENTIAL FUNDING TRUST</name>
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        <title>BRAVO RESIDENTIAL FUNDING TRUST 2024-NQM3 BRAVO 2024-NQM3 B2</title>
        <cusip>10569LAF2</cusip>
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          <isin value="US10569LAF22"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100092.81000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-03-25</maturityDt>
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      <invstOrSec>
        <name>BREAD FINANCIAL HOLDINGS INC 144A</name>
        <lei>N/A</lei>
        <title>BREAD FINANCIAL HOLDINGS INC 144A 8.375000% 06/15/2035</title>
        <cusip>018581AQ1</cusip>
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          <isin value="US018581AQ17"/>
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        <curCd>USD</curCd>
        <valUSD>675611.78000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BREAD FINANCIAL HOLDINGS, INC.</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BREAD FINANCIAL HOLDINGS INC 144A 8.375000% 06/15/2035</title>
        <cusip>018581AQ1</cusip>
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          <isin value="US018581AQ17"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>BREAD FINANCIAL HOLDINGS, INC.</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BREAD FINANCIAL HOLDINGS INC 144A 9.750000% 03/15/2029</title>
        <cusip>018581AP3</cusip>
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          <isin value="US018581AP34"/>
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        <balance>7229000.00000000</balance>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BREX COMMERCIAL CHARGE CARD MASTER TRUST</name>
        <lei>N/A</lei>
        <title>BREX COMMERCIAL CHARGE CARD MASTER TRUST BREX 2024-1 B</title>
        <cusip>05601DAG8</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>THE BRINK'S COMPANY</name>
        <lei>XFP140TFNOQMIVFTVQ13</lei>
        <title>BRINK'S CO/THE 144A 6.500000% 06/15/2029</title>
        <cusip>109696AC8</cusip>
        <identifiers>
          <isin value="US109696AC87"/>
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        <balance>985000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1015331.78000000</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>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: BANK OF AMERICA COL: 58004JAA0</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="58004JARD"/>
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        <balance>-2024000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-2024000.00000000</valUSD>
        <pctVal>-0.11426699721</pctVal>
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        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <clearedCentCparty centralCounterparty="MONTGOMERY/BANK OF AMERICA" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.87020000</repurchaseRt>
          <maturityDt>2025-09-11</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>3000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2989779.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: BANK OF AMERICA COL: 67118KAA1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="67118KARC"/>
        </identifiers>
        <balance>-3002000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3002000.00000000</valUSD>
        <pctVal>-0.16948099093</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="MONTGOMERY/BANK OF AMERICA" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.82250000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>5039208.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: CITIBANK NA COL: 500937AA5</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="500937ARB"/>
        </identifiers>
        <balance>-1596000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1596000.00000000</valUSD>
        <pctVal>-0.09010381796</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="CITIGROUP" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.90749000</repurchaseRt>
          <maturityDt>2025-09-17</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>1996141.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 24380QAC6</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="24380QARA"/>
        </identifiers>
        <balance>-3551000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3551000.00000000</valUSD>
        <pctVal>-0.20047534936</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.92491000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>5026714.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 34461WAA8</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="34461WAAR"/>
        </identifiers>
        <balance>-1999000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1999000.00000000</valUSD>
        <pctVal>-0.11285559656</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.89795000</repurchaseRt>
          <maturityDt>2025-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2500000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2500000.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 34461WAA8</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="34461WARA"/>
        </identifiers>
        <balance>-5985000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-5985000.00000000</valUSD>
        <pctVal>-0.33788931736</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.86769000</repurchaseRt>
          <maturityDt>2025-09-24</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>7500000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>7499999.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 403945AC2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="403945ARA"/>
        </identifiers>
        <balance>-3629000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3629000.00000000</valUSD>
        <pctVal>-0.20487891942</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.92491000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>4979519.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 500937AA5</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="500937ARA"/>
        </identifiers>
        <balance>-4749000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-4749000.00000000</valUSD>
        <pctVal>-0.26810966886</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.85972000</repurchaseRt>
          <maturityDt>2025-08-05</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>6000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>5988422.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 85520AAA7</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="85520AARB"/>
        </identifiers>
        <balance>-7992000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-7992000.00000000</valUSD>
        <pctVal>-0.45119656214</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.92424000</repurchaseRt>
          <maturityDt>2025-08-15</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>10062205.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: JP MORGAN CHASE BANK NA COL: 85520CAA3</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="85520CAAR"/>
        </identifiers>
        <balance>-6400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-6400000.00000000</valUSD>
        <pctVal>-0.36131856828</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J P MORGAN CHASE BANK" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.89783000</repurchaseRt>
          <maturityDt>2025-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>8000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>8010032.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 05555MAA7</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="05555MARE"/>
        </identifiers>
        <balance>-2700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-2700000.00000000</valUSD>
        <pctVal>-0.15243127099</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.85160000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>3000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>3007389.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 05555MAA7</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="05555MARF"/>
        </identifiers>
        <balance>-3972000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3972000.00000000</valUSD>
        <pctVal>-0.22424333643</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="MONTGOMERY/BANK OF AMERICA" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.82170000</repurchaseRt>
          <maturityDt>2025-09-05</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>5012315.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 05613RAA6</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="05613RARD"/>
        </identifiers>
        <balance>-4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-4000000.00000000</valUSD>
        <pctVal>-0.22582410517</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.85160000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>5004175.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 05613RAA6</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="05613RARE"/>
        </identifiers>
        <balance>-3972000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3972000.00000000</valUSD>
        <pctVal>-0.22424333643</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="MONTGOMERY/BANK OF AMERICA" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.82170000</repurchaseRt>
          <maturityDt>2025-09-05</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>5004175.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 10570PAA1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="10570PARC"/>
        </identifiers>
        <balance>-7237000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-7237000.00000000</valUSD>
        <pctVal>-0.40857226228</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="MONTGOMERY/BANK OF AMERICA" isCleared="Y"/>
          <isTriParty>N</isTriParty>
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            <repurchaseCollateral>
              <principalAmt>8500000.00000000</principalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 12659VAA8</title>
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          <other otherDesc="All Others" value="12659VARB"/>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="MONTGOMERY/BANK OF AMERICA" isCleared="Y"/>
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            <repurchaseCollateral>
              <principalAmt>7950000.00000000</principalAmt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 55284JAA7</title>
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        <identifiers>
          <other otherDesc="All Others" value="55284JARB"/>
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        <valUSD>-6669000.00000000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
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          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10000000.00000000</principalAmt>
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              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 66858CAQ0</title>
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        <identifiers>
          <other otherDesc="All Others" value="66858CARB"/>
        </identifiers>
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        <curCd>USD</curCd>
        <valUSD>-8014000.00000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.85160000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10000000.00000000</principalAmt>
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              <collateralVal>10016870.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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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>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 67118KAA1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="67118KARD"/>
        </identifiers>
        <balance>-3002000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3002000.00000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.85160000</repurchaseRt>
          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
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              <collateralVal>5039208.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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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>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 749414AA6</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="749414ARB"/>
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        <balance>-3683000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-3683000.00000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
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          <maturityDt>2025-07-10</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>5000000.00000000</principalAmt>
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              <collateralVal>4985657.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTSPIRE CAPITAL</name>
        <lei>N/A</lei>
        <title>BRSP 2024-FL2 LTD BRSP 2024-FL2 D</title>
        <cusip>05613BAJ2</cusip>
        <identifiers>
          <isin value="US05613BAJ26"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1990342.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.15870960</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>BRUNDAGE-BONE CONCRETE PUMPING HOLDINGS, INC.</name>
        <lei>N/A</lei>
        <title>BRUNDAGE-BONE CONCRETE PUMPING HOLDINGS INC 144A 7.500000% 02/01/2032</title>
        <cusip>66981QAB2</cusip>
        <identifiers>
          <isin value="US66981QAB23"/>
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        <balance>1167000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1156719.86000000</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>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>BSPRT ISSUER, LTD.</name>
        <lei>N/A</lei>
        <title>BSPRT 2024-FL11 ISSUER LLC BSPRT 2024-FL11 A</title>
        <cusip>05613RAA6</cusip>
        <identifiers>
          <isin value="US05613RAA68"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10008350.00000000</valUSD>
        <pctVal>0.565031670757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.94975960</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>BW REAL ESTATE, INC.</name>
        <lei>N/A</lei>
        <title>BW REAL ESTATE INC 144A 9.500000% MATURITY: PERPETUAL</title>
        <cusip>05614HAA7</cusip>
        <identifiers>
          <isin value="US05614HAA77"/>
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        <balance>1136000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1168783.82000000</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>2174-06-30</maturityDt>
          <couponKind>Variable</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>
      <invstOrSec>
        <name>BX COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BX COMMERCIAL MORTGAGE TRUST 2021-VOLT BX 2021-VOLT E</title>
        <cusip>05609VAN5</cusip>
        <identifiers>
          <isin value="US05609VAN55"/>
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        <balance>6776952.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.42624120</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>BX COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BX COMMERCIAL MORTGAGE TRUST 2021-VOLT BX 2021-VOLT F</title>
        <cusip>05609VAQ8</cusip>
        <identifiers>
          <isin value="US05609VAQ86"/>
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        <balance>6941653.52000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.82624080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BX COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BX COMMERCIAL MORTGAGE TRUST 2021-VOLT BX 2021-VOLT G</title>
        <cusip>05609VAS4</cusip>
        <identifiers>
          <isin value="US05609VAS43"/>
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        <balance>1855305.86000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>7.27624080</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>
      <invstOrSec>
        <name>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2018-GW BX 2018-GW G</title>
        <cusip>12433UAS4</cusip>
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          <isin value="US12433UAS42"/>
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        <balance>2226823.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2198521.19000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>7.52901120</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2018-GW MZ BX 2018-GWMZ MC</title>
        <cusip>12433RAA0</cusip>
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          <isin value="US12433RAA05"/>
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        <balance>1580000.00000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.09662840</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>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2021-ARIA BX 2021-ARIA G</title>
        <cusip>05608RAQ8</cusip>
        <identifiers>
          <isin value="US05608RAQ83"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2975705.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.56857880</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>BX TRUST</name>
        <lei>N/A</lei>
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        <name>CARLYLE US CLO LTD</name>
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        <name>CARVAL CLO LTD</name>
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        <name>CARVANA AUTO RECEIVABLES TRUST</name>
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        <name>CARVANA CO.</name>
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      <invstOrSec>
        <name>CARVANA CO.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CFMT ISSUER TRUST</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CD&amp;R SMOKEY BUYER, INC.</name>
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          <isin value="US12515KAA60"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CELANESE US HOLDINGS LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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        <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>CENTURY COMMUNITIES, INC.</name>
        <lei>5299002QMB2O7ZL1CA26</lei>
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        <cusip>156504AM4</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CENTURY COMMUNITIES, INC.</name>
        <lei>5299002QMB2O7ZL1CA26</lei>
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        <cusip>156504AL6</cusip>
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          <isin value="US156504AL63"/>
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        <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>CHART INDUSTRIES, INC.</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
        <title>CHART INDUSTRIES INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CHARTER COMMUNICATIONS OPERATING, LLC</name>
        <lei>549300TPZNMN50BJ3745</lei>
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        <cusip>161175CQ5</cusip>
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          <isin value="US161175CQ56"/>
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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>
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      <invstOrSec>
        <name>CHASE HOME LENDING MORTGAGE TRUST</name>
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        <title>CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-4 CHASE 2024-4 AX1</title>
        <cusip>16159NAX2</cusip>
        <identifiers>
          <isin value="US16159NAX21"/>
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        <curCd>USD</curCd>
        <valUSD>26484.87000000</valUSD>
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        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHASE HOME LENDING MORTGAGE TRUST</name>
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        <title>CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-5 CHASE 2024-5 AX1</title>
        <cusip>16159QAX5</cusip>
        <identifiers>
          <isin value="US16159QAX51"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHNGE MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CHNGE MORTGAGE TRUST 2022-4 CHNGE 2022-4 B2</title>
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          <isin value="US12551SAD80"/>
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        <curCd>USD</curCd>
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        <name>CIFC FUNDING LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CITGO PETROLEUM CORPORATION</name>
        <lei>YX52P86PXMLYDOTUQ225</lei>
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        <name>CLARIOS US FINANCE COMPANY, INC.</name>
        <lei>549300QHLDSIXVFWH611</lei>
        <title>CLARIOS GLOBAL LP / CLARIOS US FINANCE CO 144A 8.500000% 05/15/2027</title>
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          <isin value="US69867DAC20"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>CLNY TRUST</name>
        <lei>N/A</lei>
        <title>CLNY TRUST 2019-IKPR CLNY 2019-IKPR C</title>
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        <name>CLNY TRUST</name>
        <lei>N/A</lei>
        <title>CLNY TRUST 2019-IKPR CLNY 2019-IKPR D</title>
        <cusip>12564NAL6</cusip>
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          <isin value="US12564NAL64"/>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CMS ENERGY CORPORATION</name>
        <lei>549300IA9XFBAGNIBW29</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>CMS ENERGY CORP</title>
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      <invstOrSec>
        <name>CMS ENERGY CORPORATION</name>
        <lei>549300IA9XFBAGNIBW29</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COINBASE GLOBAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COINBASE GLOBAL, INC.</name>
        <lei>5493004G3J2SC154DU06</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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              <title>COINBASE GLOBAL INC</title>
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        <name>COLOGIX DATA CENTERS US ISSUER, LLC</name>
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        <name>COLT MORTGAGE LOAN TRUST</name>
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        <title>COLT 2022-7 MORTGAGE LOAN TRUST COLT 2022-7 B2</title>
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      <invstOrSec>
        <name>COLT MORTGAGE LOAN TRUST</name>
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        <title>COLT 2024-2 MORTGAGE LOAN TRUST COLT 2024-2 B2</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLT MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>COLT 2025-4 MORTGAGE LOAN TRUST COLT 2025-4 B1</title>
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          <isin value="US12674HAE27"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>COMM 2014-LC17 MORTGAGE TRUST COMM 2014-LC17 E</title>
        <cusip>12592MAQ3</cusip>
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          <isin value="US12592MAQ33"/>
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        <balance>100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>COMM 2014-UBS6 MORTGAGE TRUST COMM 2014-UBS6 D</title>
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          <isin value="US12592PAJ21"/>
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        <balance>1780000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>COMMERCIAL MORTGAGE RELATED SECURITIES</name>
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        <title>COMM 2019-521F MORTGAGE TRUST COMM 2019-521F B</title>
        <cusip>20048GAU0</cusip>
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          <isin value="US20048GAU04"/>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>COMMERCIAL MORTGAGE RELATED SECURITIES</name>
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        <title>COMM 2019-521F MORTGAGE TRUST COMM 2019-521F C</title>
        <cusip>20048GAG1</cusip>
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      <invstOrSec>
        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>COMM 2024-CBM MORTGAGE TRUST COMM 2024-CBM E</title>
        <cusip>12674GAN4</cusip>
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          <isin value="US12674GAN43"/>
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        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>COMM 2024-CBM MORTGAGE TRUST COMM 2024-CBM F</title>
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          <isin value="US12674GAQ73"/>
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        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>COMM 2024-WCL1 MORTGAGE TRUST COMM 2024-WCL1 D</title>
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        <name>CONE TRUST</name>
        <lei>N/A</lei>
        <title>CONE TRUST 2024-DFW1 CONE 2024-DFW1 C</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CONNECTICUT AVENUE SECURITIES</name>
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          <isin value="US20755TAB70"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CONSOLIDATED COMMUNICATIONS LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CPS AUTO RECEIVABLES TRUST</name>
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          <isin value="US12630SAE19"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="All Others" value="CON121925"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>COP US 07/18/25 C105</name>
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          <ticker value="COP US 07/18/25 C105 Equity"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CORNERSTONE BUILDING BRANDS, INC.</name>
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          <isin value="US21925DAA72"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CORNERSTONE BUILDING BRANDS, INC.</name>
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          <isin value="US21925DAB55"/>
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        <balance>961000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>883467.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CPS AUTO RECEIVABLES TRUST</name>
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        <title>CPS AUTO RECEIVABLES TRUST 2024-B CPS 2024-B E</title>
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          <isin value="US12627SAE63"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>727544.79000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>CREDIT ACCEPTANCE CORPORATION</name>
        <lei>N/A</lei>
        <title>CREDIT ACCEPTANCE CORP 144A 6.625000% 03/15/2030</title>
        <cusip>225310AS0</cusip>
        <identifiers>
          <isin value="US225310AS06"/>
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        <balance>1780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1801956.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CREDIT ACCEPTANCE CORPORATION</name>
        <lei>N/A</lei>
        <title>CREDIT ACCEPTANCE CORP 144A 9.250000% 12/15/2028</title>
        <cusip>225310AQ4</cusip>
        <identifiers>
          <isin value="US225310AQ40"/>
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        <balance>959000.00000000</balance>
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        <valUSD>1015237.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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      <invstOrSec>
        <name>CROSS MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CROSS 2023-H1 MORTGAGE TRUST CROSS 2023-H1 B1</title>
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          <isin value="US22758CAE12"/>
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        <name>CROSS MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CROSS 2023-H2 MORTGAGE TRUST CROSS 2023-H2 B1</title>
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        <name>CROSS MORTGAGE TRUST</name>
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        <title>CROSS 2025-H5 MORTGAGE TRUST CROSS 2025-H5 B1B</title>
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        <name>CSMC COMMERCIAL MORTGAGE TRUST</name>
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        <name>FIGRE TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIGRE TRUST</name>
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          <isin value="US31684LAE11"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FILLMORE PARK CLO LTD</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FUNDAMENTAL INCOME NET-LEASE MORTGAGE NOTES</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FIRSTENERGY CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>FIRSTENERGY CORP</title>
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          <isin value="US3379321074"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FLAGSTAR FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>FLATIRON CLO LTD</name>
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          <isin value="US33883DAY04"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FLEXENTIAL LLC</name>
        <lei>N/A</lei>
        <title>FLEXENTIAL ISSUER 2021-1 FLX 2021-1A A2</title>
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          <isin value="US33938MAA71"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FLEXENTIAL LLC</name>
        <lei>N/A</lei>
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          <isin value="US33938MAB54"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FLEXENTIAL LLC</name>
        <lei>N/A</lei>
        <title>FLEXENTIAL ISSUER 2021-1 FLX 2021-1A C</title>
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          <isin value="US33938MAC38"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FOCUS FINANCIAL PARTNERS, LLC</name>
        <lei>5493007L0E0VKRC2CP39</lei>
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          <isin value="US34417VAA52"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FONTAINEBLEAU MIAMI BEACH TRUST</name>
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          <isin value="US34461WAA80"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO COMMON STOCK</title>
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        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO ZERO COUPON 03/15/2026</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>FORD MOTOR COMPANY</title>
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        <name>FORTRESS CREDIT BSL LIMITED</name>
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        <title>FORTRESS CREDIT BSL III LTD FCBSL 2015-1A ER</title>
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          <isin value="US34960HAE99"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GENERATE CLO LTD</name>
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        <name>GENERATE CLO LTD</name>
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      <invstOrSec>
        <name>GENERATE CLO LTD</name>
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      <invstOrSec>
        <name>GENERATE CLO LTD</name>
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        <title>GENERATE CLO 6 LTD GNRT 6A AR2</title>
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        <name>GENWORTH FINANCIAL, INC.</name>
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        <name>GGAM Finance Limited</name>
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        <name>GLS AUTO RECEIVABLES TRUST</name>
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        <name>Government National Mortgage Association</name>
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      </invstOrSec>
      <invstOrSec>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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      <invstOrSec>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-5 SC</title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-56 SE</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>HERTZ VEHICLE FINANCING III LLC</name>
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        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
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        <name>HOME RE LIMITED</name>
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        <name>HOMES TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOMES TRUST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>HOTWIRE FUNDING LLC</name>
        <lei>N/A</lei>
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          <isin value="US44148JAM18"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HUDSON PACIFIC PROPERTIES, L.P.</name>
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        <cusip>44409MAC0</cusip>
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          <isin value="US44409MAC01"/>
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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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        <name>HUDSON PACIFIC PROPERTIES, L.P.</name>
        <lei>5493007NTUGLGZ8T3526</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>HUSKY IMS CANADIAN ESCROW CO-ISSUER LTD.</name>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co PREFERRED STOCK</title>
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          <isin value="US42824C2089"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ICAHN ENTERPRISES L.P.</name>
        <lei>549300T0G4GS0SINS786</lei>
        <title>ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE C 10.000000% 11/15/2029</title>
        <cusip>451102CK1</cusip>
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          <isin value="US451102CK14"/>
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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>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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        <name>ICAHN ENTERPRISES L.P.</name>
        <lei>549300T0G4GS0SINS786</lei>
        <title>ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE C 5.250000% 05/15/2027</title>
        <cusip>451102BZ9</cusip>
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          <isin value="US451102BZ91"/>
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        <balance>2696000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2612238.25000000</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>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>ICG US CLO</name>
        <lei>N/A</lei>
        <title>ICG US CLO 2023-1 I LTD ICG 2023-1A E</title>
        <cusip>448989AA1</cusip>
        <identifiers>
          <isin value="US448989AA12"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>737225.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILFC E-CAPITAL TRUST I</name>
        <lei>N/A</lei>
        <title>ILFC E-CAPITAL TRUST I 144A VARIABLE RATE 12/21/2065</title>
        <cusip>44965TAA5</cusip>
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          <isin value="US44965TAA51"/>
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        <balance>3180000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILFC E-CAPITAL TRUST II</name>
        <lei>N/A</lei>
        <title>ILFC E-CAPITAL TRUST II 144A 6.538290% 12/21/2065</title>
        <cusip>44965UAA2</cusip>
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          <isin value="US44965UAA25"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.68000160</annualizedRt>
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        <name>LUMMUS TECHNOLOGY HOLDINGS V LLC</name>
        <lei>549300K1Y0YC1YC1H809</lei>
        <title>ILLUMINATE BUYER LLC / ILLUMINATE HOLDINGS IV INC 9.000000% 07/01/2028</title>
        <cusip>45232TAA9</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>IMPERIAL FUND MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>IMPERIAL FUND MORTGAGE TRUST 2020-NQM1 IMPRL 2020-NQM1 B2</title>
        <cusip>452760AF8</cusip>
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          <isin value="US452760AF89"/>
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        <name>IRIS ESCROW ISSUER CORPORATION</name>
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        <title>IRIS HOLDING INC 144A 10.000000% 12/15/2028</title>
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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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          <couponKind>Fixed</couponKind>
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        <name>iShares Bitcoin Trust ETF</name>
        <lei>N/A</lei>
        <title>ISHARES BITCOIN TRUST ETF MUTUAL FUND</title>
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          <isin value="US46438F1012"/>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ISLAND FINANCE TRUST</name>
        <lei>N/A</lei>
        <title>ISLAND FINANCE TRUST 2025-1 ISLN 2025-1A B</title>
        <cusip>463920AB4</cusip>
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          <isin value="US463920AB46"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>307639.98000000</valUSD>
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        <name>JD.COM, INC.</name>
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        <name>JETBLUE AIRWAYS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <title>JP MORGAN COLLATERAL BALANCE FS FUNDS</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KEHE DISTRIBUTORS, LLC</name>
        <lei>549300WQCH7SRQ8JKE47</lei>
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        <cusip>487526AC9</cusip>
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          <isin value="US487526AC91"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>KKR FINANCIAL CLO, LTD.</name>
        <lei>N/A</lei>
        <title>KKR CLO 23 LTD KKR 23 E</title>
        <cusip>48252XAA9</cusip>
        <identifiers>
          <isin value="US48252XAA90"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>962349.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>KOHL'S CORPORATION</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
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        <cusip>500255AY0</cusip>
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          <isin value="US500255AY01"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KOHL'S CORPORATION</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>KOHL'S CORP 5.550000% 07/17/2045</title>
        <cusip>500255AV6</cusip>
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          <isin value="US500255AV61"/>
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        <curCd>USD</curCd>
        <valUSD>585476.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KOHL'S CORPORATION</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>KOHLS CORPORATION 6.875% 12/15/2037</title>
        <cusip>500255AQ7</cusip>
        <identifiers>
          <isin value="US500255AQ76"/>
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        <curCd>USD</curCd>
        <valUSD>12131.73000000</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>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KSL COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>KSL COMMERCIAL MORTGAGE TRUST 2024-HT2 KSL 2024-HT2 A</title>
        <cusip>500937AA5</cusip>
        <identifiers>
          <isin value="US500937AA54"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7984563.20000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LADDER CAPITAL FINANCE HOLDINGS LLLP</name>
        <lei>254900TBF2Z4GR7NSX02</lei>
        <title>LADDER CAPITAL FINANCE HOLDINGS LLLP / LADDER CAPI 5.500000% 08/01/2030</title>
        <cusip>505742AS5</cusip>
        <identifiers>
          <isin value="US505742AS58"/>
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        <balance>1627000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1637491.22000000</valUSD>
        <pctVal>0.092446247372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LADDER CAPITAL FINANCE HOLDINGS LLLP</name>
        <lei>254900TBF2Z4GR7NSX02</lei>
        <title>LADDER CAPITAL FINANCE HOLDINGS LLLP / LADDER CAPI 7.000000% 07/15/2031</title>
        <cusip>505742AR7</cusip>
        <identifiers>
          <isin value="US505742AR75"/>
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        <balance>972000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1016410.68000000</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>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>LAQ MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>LAQ 2023-LAQ MORTGAGE TRUST LAQ 2023-LAQ F</title>
        <cusip>516681AL7</cusip>
        <identifiers>
          <isin value="US516681AL71"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>LAQ MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>LAQ 2023-LAQ MORTGAGE TRUST LAQ 2023-LAQ G</title>
        <cusip>516681AN3</cusip>
        <identifiers>
          <isin value="US516681AN38"/>
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        <balance>405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>387214.38000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>12.74403960</annualizedRt>
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      <invstOrSec>
        <name>DRB PRIME STUDENT LOAN TRUST</name>
        <lei>N/A</lei>
        <title>LAUREL ROAD PRIME STUDENT LOAN TRUST 2017-B DRB 2017-B R</title>
        <cusip>518887104</cusip>
        <identifiers>
          <isin value="US5188871041"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LD HOLDINGS GROUP LLC</name>
        <lei>N/A</lei>
        <title>LD HOLDINGS GROUP LLC 144A 6.125000% 04/01/2028</title>
        <cusip>521088AC8</cusip>
        <identifiers>
          <isin value="US521088AC89"/>
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        <curCd>USD</curCd>
        <valUSD>1369400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>LD HOLDINGS GROUP LLC</name>
        <lei>N/A</lei>
        <title>LD HOLDINGS GROUP LLC 144A 8.750000% 11/01/2027</title>
        <cusip>521088AD6</cusip>
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          <isin value="US521088AD62"/>
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        <valUSD>1049634.85000000</valUSD>
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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>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>LEVEL 3 FINANCING, INC.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>LEVEL 3 FINANCING INC 144A 10.750000% 12/15/2030</title>
        <cusip>527298BZ5</cusip>
        <identifiers>
          <isin value="US527298BZ50"/>
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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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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>LFS TOPCO LLC</name>
        <lei>N/A</lei>
        <title>LFS TOPCO LLC 144A 5.875000% 10/15/2026</title>
        <cusip>50203TAA4</cusip>
        <identifiers>
          <isin value="US50203TAA43"/>
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        <balance>4214000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4213723.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LFS TOPCO LLC</name>
        <lei>N/A</lei>
        <title>LFS TOPCO LLC 144A 8.750000% 07/15/2030</title>
        <cusip>50203TAB2</cusip>
        <identifiers>
          <isin value="US50203TAB26"/>
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        <balance>3473000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3416385.65000000</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>
          <annualizedRt>8.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LONDON CARDS PLC</name>
        <lei>N/A</lei>
        <title>LONDON CARDS NO 2 PLC LDN 2 E</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2778925458"/>
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        <balance>200000.00000000</balance>
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        <pctVal>0.015989147757</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-28</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>MOHEGAN ESCROW ISSUER, LLC</name>
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        <name>MULTIFAMILY CONNECTICUT AVENUE SECURITIES TRUST</name>
        <lei>N/A</lei>
        <title>MULTIFAMILY CONNECTICUT AVENUE SECURITIES TRUST 20 MCAS 2023-01 M10</title>
        <cusip>62548NAB4</cusip>
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          <isin value="US62548NAB47"/>
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        <curCd>USD</curCd>
        <valUSD>1595920.90000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONSTAR MORTGAGE HOLDINGS INC.</name>
        <lei>N/A</lei>
        <title>NATIONSTAR MORTGAGE HOLDINGS INC 144A 6.000000% 01/15/2027</title>
        <cusip>63861CAA7</cusip>
        <identifiers>
          <isin value="US63861CAA71"/>
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        <balance>3543000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3546815.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</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>
      <invstOrSec>
        <name>NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST</name>
        <lei>N/A</lei>
        <title>NATIXIS COMMERCIAL MORTGAGE SECURITIES TRUST 2022- NCMS 2022-RRI E</title>
        <cusip>63875JAN8</cusip>
        <identifiers>
          <isin value="US63875JAN81"/>
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        <balance>1125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1119737.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>9.50475960</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>NCL CORPORATION LTD.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL CORP LTD 1.125000% 02/15/2027</title>
        <cusip>62886HBD2</cusip>
        <identifiers>
          <isin value="US62886HBD26"/>
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        <balance>3825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3758062.50000000</valUSD>
        <pctVal>0.212165275313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>NCL CORPORATION LTD</name>
              <title>NCL CORPORATION LTD</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="62886HBD2"/>
                <isin value="US62886HBD26"/>
                <ticker value="NCLH"/>
                <other otherDesc="FIGI" value="BBG013JZ3RQ3"/>
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          <currencyInfos>
            <currencyInfo convRatio="29.68500000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEPTUNE BIDCO US INC.</name>
        <lei>549300VG15T3VCYZ4531</lei>
        <title>NEPTUNE BIDCO US INC 144A 9.290000% 04/15/2029</title>
        <cusip>640695AA0</cusip>
        <identifiers>
          <isin value="US640695AA01"/>
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        <balance>1401000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1364132.69000000</valUSD>
        <pctVal>0.077013511014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.29000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NESCO HOLDINGS II, INC.</name>
        <lei>254900FAHT0HW9T6L409</lei>
        <title>NESCO HOLDINGS II INC 144A 5.500000% 04/15/2029</title>
        <cusip>64083YAA9</cusip>
        <identifiers>
          <isin value="US64083YAA91"/>
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        <balance>-1675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1631935.25000000</valUSD>
        <pctVal>-0.09213257938</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>NEUBERGER BERMAN LOAN ADVISERS LLC</name>
        <lei>N/A</lei>
        <title>NEUBERGER BERMAN LOAN ADVISERS CLO 29 LTD NEUB 2018-29A A2R</title>
        <cusip>64130XAU0</cusip>
        <identifiers>
          <isin value="US64130XAU00"/>
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        <balance>11700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11714847.30000000</valUSD>
        <pctVal>0.661373727196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.78946960</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>NEUBERGER BERMAN LOAN ADVISERS LLC</name>
        <lei>N/A</lei>
        <title>NEUBERGER BERMAN LOAN ADVISERS CLO 38 LTD NEUB 2020-38A ER2</title>
        <cusip>64133TAN2</cusip>
        <identifiers>
          <isin value="US64133TAN28"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>978918.00000000</valUSD>
        <pctVal>0.055265820347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.86947120</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>NEUBERGER BERMAN LOAN ADVISERS LLC</name>
        <lei>N/A</lei>
        <title>NEUBERGER BERMAN LOAN ADVISERS CLO 46 LTD NEUB 2021-46A ER</title>
        <cusip>64134RAL9</cusip>
        <identifiers>
          <isin value="US64134RAL96"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248790.00000000</valUSD>
        <pctVal>0.014045694781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.41946840</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>NEW ENTERPRISE STONE &amp; LIME CO., INC.</name>
        <lei>549300O5DQ5Y61B8VF38</lei>
        <title>NEW ENTERPRISE STONE &amp; LIME CO INC 144A 5.250000% 07/15/2028</title>
        <cusip>644274AH5</cusip>
        <identifiers>
          <isin value="US644274AH54"/>
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        <balance>1082000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1084868.38000000</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>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>
        <name>NEW ENTERPRISE STONE &amp; LIME CO., INC.</name>
        <lei>549300O5DQ5Y61B8VF38</lei>
        <title>NEW ENTERPRISE STONE &amp; LIME CO INC 144A 9.750000% 07/15/2028</title>
        <cusip>644274AG7</cusip>
        <identifiers>
          <isin value="US644274AG71"/>
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        <balance>2768000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2774460.51000000</valUSD>
        <pctVal>0.156635015503</pctVal>
        <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>9.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE NEW HOME COMPANY INC.</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>NEW HOME CO INC/THE 144A 8.500000% 11/01/2030</title>
        <cusip>645370AG2</cusip>
        <identifiers>
          <isin value="US645370AG22"/>
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        <balance>1288000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1311783.36000000</valUSD>
        <pctVal>0.074058075863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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>THE NEW HOME COMPANY INC.</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
        <title>NEW HOME CO INC/THE 144A 9.250000% 10/01/2029</title>
        <cusip>645370AF4</cusip>
        <identifiers>
          <isin value="US645370AF49"/>
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        <balance>1388000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1438975.69000000</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>
          <annualizedRt>9.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2024-NQM1 NRZT 2024-NQM1 B1</title>
        <cusip>64828DAE7</cusip>
        <identifiers>
          <isin value="US64828DAE76"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2022522.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>7.91200080</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>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2024-NQM1 NRZT 2024-NQM1 B2</title>
        <cusip>64828DAF4</cusip>
        <identifiers>
          <isin value="US64828DAF42"/>
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        <curCd>USD</curCd>
        <valUSD>188256.56000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>8.03872080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2024-NQM3 NRZT 2024-NQM3 B2</title>
        <cusip>647910AH1</cusip>
        <identifiers>
          <isin value="US647910AH16"/>
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        <balance>460000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>434728.70000000</valUSD>
        <pctVal>0.024543054917</pctVal>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.16618160</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM2 NRZT 2025-NQM2 B1</title>
        <cusip>64831XAG3</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM2 NRZT 2025-NQM2 B2</title>
        <cusip>64831XAH1</cusip>
        <identifiers>
          <isin value="US64831XAH17"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94750.73000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>7.28209440</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>NEWDAY FUNDING PLC</name>
        <lei>N/A</lei>
        <title>NEWDAY FUNDING MASTER ISSUER PLC - SERIES 2024-3 NDFT 2024-3A E</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2909753100"/>
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        <balance>780000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.72852000"/>
        <valUSD>1089734.48000000</valUSD>
        <pctVal>0.061522078456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.96819935</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>NEXSTAR MEDIA INC.</name>
        <lei>5493006PK6I4I2OOT688</lei>
        <title>NEXSTAR MEDIA INC 144A 4.750000% 11/01/2028</title>
        <cusip>65336YAN3</cusip>
        <identifiers>
          <isin value="US65336YAN31"/>
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        <balance>-3213000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3129641.93000000</valUSD>
        <pctVal>-0.17668714709</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>
      <invstOrSec>
        <name>NEXTERA ENERGY, INC.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEXTERA ENERGY INC COMMON STOCK</title>
        <cusip>65339F101</cusip>
        <identifiers>
          <isin value="US65339F1012"/>
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        <balance>-12668.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-879412.56000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NLT TRUST</name>
        <lei>N/A</lei>
        <title>NLT 2023-1 TRUST NLT 2023-1 B3</title>
        <cusip>62917MAG8</cusip>
        <identifiers>
          <isin value="US62917MAG87"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>215033.56000000</valUSD>
        <pctVal>0.012139940317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-10-25</maturityDt>
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          <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>N/A</name>
        <lei>N/A</lei>
        <title>NOMURA COLLATERAL BALANCE FS FUNDS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="FSCOLLNOM"/>
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        <balance>1560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1560000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHERN OIL AND GAS, INC.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>NORTHERN OIL &amp; GAS INC 144A 3.625000% 04/15/2029</title>
        <cusip>665531AK5</cusip>
        <identifiers>
          <isin value="US665531AK53"/>
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        <balance>794000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>827745.00000000</valUSD>
        <pctVal>0.046731193484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>NORTHERN OIL &amp; GAS INC</name>
              <title>NORTHERN OIL &amp; GAS INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="665531AK5"/>
                <isin value="US6655313079"/>
                <ticker value="NOG"/>
                <other otherDesc="FIGI" value="BBG000DRTDR6"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="26.9811" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHERN OIL AND GAS, INC.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>NORTHERN OIL &amp; GAS INC 3.625000% 04/15/2029</title>
        <cusip>665531AJ8</cusip>
        <identifiers>
          <isin value="US665531AJ80"/>
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        <balance>2475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2580187.50000000</valUSD>
        <pctVal>0.145667133342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>NORTHERN OIL &amp; GAS INC</name>
              <title>NORTHERN OIL &amp; GAS INC</title>
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                <cusip value="665531AJ8"/>
                <isin value="US6655313079"/>
                <ticker value="NOG"/>
                <other otherDesc="FIGI" value="BBG000DRTDR6"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="27.1217" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHERN OIL AND GAS, INC.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>NORTHERN OIL AND GAS INC COMMON STOCK</title>
        <cusip>665531307</cusip>
        <identifiers>
          <isin value="US6655313079"/>
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        <balance>-53805.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1525371.75000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHWOODS CAPITAL LIMITED</name>
        <lei>N/A</lei>
        <title>NORTHWOODS CAPITAL XII-B LTD WOODS 2018-12BA BR</title>
        <cusip>66858CAQ0</cusip>
        <identifiers>
          <isin value="US66858CAQ06"/>
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        <balance>10500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10517713.50000000</valUSD>
        <pctVal>0.593788309906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.01846920</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>NORWEGIAN CRUISE LINE HOLDINGS LTD.</name>
        <lei>N/A</lei>
        <title>NORWEGIAN CRUISE LINE HOLDIN COMMON STOCK</title>
        <cusip>G66721104</cusip>
        <identifiers>
          <isin value="BMG667211046"/>
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        <balance>-33719.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-683821.32000000</valUSD>
        <pctVal>-0.03860583442</pctVal>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUSTAR LOGISTICS, L.P.</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NUSTAR LOGISTICS LP 5.625000% 04/28/2027</title>
        <cusip>67059TAE5</cusip>
        <identifiers>
          <isin value="US67059TAE55"/>
        </identifiers>
        <balance>1174000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1184189.15000000</valUSD>
        <pctVal>0.066854613789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NUSTAR LOGISTICS, L.P.</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NUSTAR LOGISTICS LP 6.000000% 06/01/2026</title>
        <cusip>67059TAF2</cusip>
        <identifiers>
          <isin value="US67059TAF21"/>
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        <balance>1677000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1683362.59000000</valUSD>
        <pctVal>0.095035962643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</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>NYMT LOAN TRUST</name>
        <lei>N/A</lei>
        <title>NYMT LOAN TRUST 2025-INV1 NYMT 2025-INV1 B1</title>
        <cusip>67120YAG4</cusip>
        <identifiers>
          <isin value="US67120YAG44"/>
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        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216859.96000000</valUSD>
        <pctVal>0.012243051603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.95910960</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 YORK MORTGAGE TRUST, INC.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>New York Mortgage Trust Inc PREFERRED STOCK</title>
        <cusip>649604865</cusip>
        <identifiers>
          <isin value="US6496048652"/>
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        <balance>34100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>721215.00000000</valUSD>
        <pctVal>0.040716933003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEXTERA ENERGY, INC.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy Inc PREFERRED STOCK</title>
        <cusip>65339F663</cusip>
        <identifiers>
          <isin value="US65339F6631"/>
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        <balance>27003.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1271571.27000000</valUSD>
        <pctVal>0.071787861053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOMURA GLOBAL FINANCIAL PRODUCTS</name>
        <lei>0Z3VO5H2G7GRS05BHJ91</lei>
        <title>Nomura G10 FX Mean Reversion 25x TRS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="TRS1H0J6S"/>
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        <balance>315090.05000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>847592.24000000</valUSD>
        <pctVal>0.047851689787</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ONDECK ASSET SECURITIZATION TRUST LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONDECK ASSET SECURITIZATION TRUST LLC</name>
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          <isin value="US67108SAF56"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ONDECK ASSET SECURITIZATION TRUST LLC</name>
        <lei>N/A</lei>
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          <isin value="US67108SAG30"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ONEMAIN FINANCE CORP</name>
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        <balance>792000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>803721.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>OPENDOOR TECHNOLOGIES INC.</name>
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          <isin value="US683712AC73"/>
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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>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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        <name>OPENDOOR TECHNOLOGIES INC.</name>
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        <title>OPENDOOR TECHNOLOGIES INC COMMON STOCK</title>
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          <isin value="US6837121036"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>OPORTUN FUNDING LLC</name>
        <lei>N/A</lei>
        <title>OPORTUN FUNDING TRUST 2024-3 OPTN 2024-3 D</title>
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        <identifiers>
          <isin value="US68377NAD30"/>
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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>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>OPORTUN FUNDING LLC</name>
        <lei>N/A</lei>
        <title>OPORTUN ISSUANCE TRUST 2025-A OPTN 2025-A D</title>
        <cusip>68377TAD0</cusip>
        <identifiers>
          <isin value="US68377TAD00"/>
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        <balance>690000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>689174.76000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>OUTFRONT MEDIA CAPITAL LLC</name>
        <lei>5493005WC7J0FDMW0610</lei>
        <title>OUTFRONT MEDIA CAPITAL LLC / OUTFRONT MEDIA CAPITA 4.250000% 01/15/2029</title>
        <cusip>69007TAE4</cusip>
        <identifiers>
          <isin value="US69007TAE47"/>
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        <balance>1124000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1075301.24000000</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>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OZLM FUNDING LTD</name>
        <lei>N/A</lei>
        <title>OZLM FUNDING II LTD OZLMF 2012-2A DR2</title>
        <cusip>67108CAG8</cusip>
        <identifiers>
          <isin value="US67108CAG87"/>
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        <curCd>USD</curCd>
        <valUSD>637600.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</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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        <name>OZLM FUNDING LTD</name>
        <lei>N/A</lei>
        <title>OZLM IX LTD OZLM 2014-9A DRR</title>
        <cusip>67109LAE2</cusip>
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          <isin value="US67109LAE20"/>
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        <curCd>USD</curCd>
        <valUSD>438904.32000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OZLM FUNDING LTD</name>
        <lei>N/A</lei>
        <title>OZLM XIV LTD OZLM 2015-14A DR3</title>
        <cusip>67110JAL8</cusip>
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          <isin value="US67110JAL89"/>
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        <curCd>USD</curCd>
        <valUSD>248887.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>PG&amp;E CORPORATION</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PAGAYA AI DEBT GRANTOR TRUST</name>
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        <identifiers>
          <isin value="US69544TAE47"/>
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        <curCd>USD</curCd>
        <valUSD>203328.26000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>PARAMOUNT GLOBAL</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PEAC SOLUTIONS RECEIVABLES</name>
        <lei>N/A</lei>
        <title>PEAC SOLUTIONS RECEIVABLES 2024-2 LLC PEAC 2024-2A A3</title>
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          <isin value="US69392BAC00"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5018347.50000000</valUSD>
        <pctVal>0.283315958411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <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>PEACE PARK CLO</name>
        <lei>N/A</lei>
        <title>PEACE PARK CLO LTD PCEPK 2021-1A E</title>
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          <isin value="US70470NAA19"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PEBBLEBROOK HOTEL, L.P.</name>
        <lei>549300DXEFK267TXZ832</lei>
        <title>PEBBLEBROOK HOTEL LP / PEB FINANCE CORP 144A 6.375000% 10/15/2029</title>
        <cusip>70510LAA7</cusip>
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          <isin value="US70510LAA70"/>
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        <balance>1196000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1202426.11000000</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>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</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>
      <invstOrSec>
        <name>PENNYMAC CORP.</name>
        <lei>EWN0I878407TKQNXZ933</lei>
        <title>PENNYMAC CORP 8.500000% 06/01/2029</title>
        <cusip>70932AAH6</cusip>
        <identifiers>
          <isin value="US70932AAH68"/>
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        <balance>825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>833250.00000000</valUSD>
        <pctVal>0.047041983909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>PENNYMAC CORP</name>
              <title>PENNYMAC CORP</title>
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              <identifiers>
                <cusip value="70932AAH6"/>
                <isin value="US70932AAH68"/>
                <ticker value="PMT"/>
                <other otherDesc="FIGI" value="BBG01N0QMC18"/>
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          <currencyInfos>
            <currencyInfo convRatio="63.33320000" curCd="USD"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PFP LTD</name>
        <lei>N/A</lei>
        <title>PFP 2025-12 LTD PFP 2025-12 A</title>
        <cusip>69382JAA9</cusip>
        <identifiers>
          <isin value="US69382JAA97"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9980440.00000000</valUSD>
        <pctVal>0.563455983063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.81079960</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>PG&amp;E CORPORATION</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E CORP 4.250000% 12/01/2027</title>
        <cusip>69331CAL2</cusip>
        <identifiers>
          <isin value="US69331CAL28"/>
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        <balance>6701000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6649402.30000000</valUSD>
        <pctVal>0.375398831086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>PG&amp;E CORP</name>
              <title>PG&amp;E CORP</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="69331CAL2"/>
                <isin value="US69331CAL28"/>
                <ticker value="PCG"/>
                <other otherDesc="FIGI" value="BBG01KCBD7R7"/>
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          <currencyInfos>
            <currencyInfo convRatio="43.1738" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PLANET FINANCIAL GROUP, LLC</name>
        <lei>N/A</lei>
        <title>PLANET FINANCIAL GROUP LLC 144A 10.500000% 12/15/2029</title>
        <cusip>72702AAA5</cusip>
        <identifiers>
          <isin value="US72702AAA51"/>
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        <balance>3174000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3177015.30000000</valUSD>
        <pctVal>0.179361659312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</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>
      <invstOrSec>
        <name>PRKCM TRUST</name>
        <lei>N/A</lei>
        <title>PRKCM 2024-AFC1 TRUST PRKCM 2024-AFC1 B2</title>
        <cusip>69380WAF1</cusip>
        <identifiers>
          <isin value="US69380WAF14"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179995.52000000</valUSD>
        <pctVal>0.010161831809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.43555600</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>PRKCM TRUST</name>
        <lei>N/A</lei>
        <title>PRKCM 2024-HOME1 TRUST PRKCM 2024-HOME1 B2</title>
        <cusip>69391XAF6</cusip>
        <identifiers>
          <isin value="US69391XAF69"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148189.80000000</valUSD>
        <pctVal>0.008366207245</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.66684080</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>PROGRESS RESIDENTIAL MASTER TRUST</name>
        <lei>N/A</lei>
        <title>PROGRESS RESIDENTIAL 2024-SFR2 TRUST PROG 2024-SFR2 F</title>
        <cusip>74290XAN1</cusip>
        <identifiers>
          <isin value="US74290XAN12"/>
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        <balance>690000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>608602.29000000</valUSD>
        <pctVal>0.034359266886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.65000040</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>PROGRESS RESIDENTIAL MASTER TRUST</name>
        <lei>N/A</lei>
        <title>PROGRESS RESIDENTIAL 2024-SFR4 TRUST PROG 2024-SFR4 F1</title>
        <cusip>74334JAN0</cusip>
        <identifiers>
          <isin value="US74334JAN00"/>
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        <balance>140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123495.51000000</valUSD>
        <pctVal>0.006972065759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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          <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>PROVIDENT FUNDING ASSOCIATES, L.P.</name>
        <lei>54930043BMDE130FJ617</lei>
        <title>PROVIDENT FUNDING ASSOCIATES LP / PFG FINANCE CORP 9.750000% 09/15/2029</title>
        <cusip>74387UAK7</cusip>
        <identifiers>
          <isin value="US74387UAK79"/>
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        <balance>1566000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1646675.62000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</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>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2023-NQM2 TRUST PRPM 2023-NQM2 B2</title>
        <cusip>74390KAD0</cusip>
        <identifiers>
          <isin value="US74390KAD00"/>
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        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285320.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.93197640</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2024-NQM4 TRUST PRPM 2024-NQM4 B1</title>
        <cusip>69381UAF4</cusip>
        <identifiers>
          <isin value="US69381UAF49"/>
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        <balance>1440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1442629.01000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>7.64956440</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2024-RCF3 LLC PRPM 2024-RCF3 M2</title>
        <cusip>74390BAJ7</cusip>
        <identifiers>
          <isin value="US74390BAJ70"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277598.43000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2024-RCF5 LLC PRPM 2024-RCF5 M2</title>
        <cusip>69381JAE2</cusip>
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          <isin value="US69381JAE29"/>
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        <curCd>USD</curCd>
        <valUSD>106526.56000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2025-NQM1 TRUST PRPM 2025-NQM1 B1</title>
        <cusip>74391EAF8</cusip>
        <identifiers>
          <isin value="US74391EAF88"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1008111.20000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.78200120</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>PURCHASING POWER FUNDING LLC</name>
        <lei>N/A</lei>
        <title>PURCHASING POWER FUNDING 2024-A LLC PPWR 2024-A D</title>
        <cusip>745935AD8</cusip>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RCKT MORTGAGE TRUST</name>
        <lei>N/A</lei>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RCKT MORTGAGE TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>REACH ABS TRUST</name>
        <lei>N/A</lei>
        <title>REACH ABS TRUST 2025-1 REACH 2025-1A D</title>
        <cusip>75525PAD4</cusip>
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          <isin value="US75525PAD42"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REDWOOD TRUST, INC.</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
        <title>REDWOOD TRUST INC 7.750000% 06/15/2027</title>
        <cusip>758075AF2</cusip>
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          <isin value="US758075AF22"/>
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        <balance>4116000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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              <title>Redwood Trust Inc</title>
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      <invstOrSec>
        <name>REDWOOD TRUST, INC.</name>
        <lei>DRBV4N1ERQLEMIF11G78</lei>
        <title>REDWOOD TRUST INC 7.750000% 06/15/2027</title>
        <cusip>758075AF2</cusip>
        <identifiers>
          <isin value="US758075AF22"/>
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        <balance>1618000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1598562.77000000</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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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Redwood Trust Inc</name>
              <title>Redwood Trust Inc</title>
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                <isin value="US758075AF22"/>
                <ticker value="RWT"/>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Regal Rexnord Corporation</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>REGAL REXNORD CORP 6.050000% 04/15/2028</title>
        <cusip>758750AM5</cusip>
        <identifiers>
          <isin value="US758750AM58"/>
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        <balance>4323000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4454778.87000000</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>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Regal Rexnord Corporation</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>REGAL REXNORD CORP 6.300000% 02/15/2030</title>
        <cusip>758750AN3</cusip>
        <identifiers>
          <isin value="US758750AN32"/>
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        <balance>1946000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2038483.94000000</valUSD>
        <pctVal>0.115084702916</pctVal>
        <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>6.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REGATTA FUNDING LTD</name>
        <lei>N/A</lei>
        <title>REGATTA XIV FUNDING LTD REG14 2018-3A E</title>
        <cusip>75888NAA6</cusip>
        <identifiers>
          <isin value="US75888NAA63"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>REGATTA FUNDING LTD</name>
        <lei>N/A</lei>
        <title>REGATTA XIX FUNDING LTD REG19 2022-1A E</title>
        <cusip>75888CAA0</cusip>
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          <isin value="US75888CAA09"/>
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        <balance>250000.00000000</balance>
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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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      <invstOrSec>
        <name>REGIONAL MANAGEMENT ISSUANCE TRUST</name>
        <lei>N/A</lei>
        <title>REGIONAL MANAGEMENT ISSUANCE TRUST 2024-1 RMIT 2024-1 D</title>
        <cusip>758983AD2</cusip>
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          <isin value="US758983AD25"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RENEW FINANCIAL GROUP LLC</name>
        <lei>N/A</lei>
        <title>RENEW 2024-2 RENEW 2024-2A A</title>
        <cusip>75975DAA2</cusip>
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          <isin value="US75975DAA28"/>
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        <curCd>USD</curCd>
        <valUSD>8131601.82000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>REPUBLIC FINANCE ISSUANCE TRUST</name>
        <lei>N/A</lei>
        <title>REPUBLIC FINANCE ISSUANCE TRUST 2024-B REPS 2024-B D</title>
        <cusip>76042GAD6</cusip>
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          <isin value="US76042GAD60"/>
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        <balance>2970000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>REXFORD INDUSTRIAL REALTY, INC</name>
        <lei>549300MSLO0DF0EMX355</lei>
        <title>REXFORD INDUSTRIAL REALTY IN REIT</title>
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          <isin value="US76169C1009"/>
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        <curCd>USD</curCd>
        <valUSD>-52999.30000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>REXFORD INDUSTRIAL REALTY, L.P.</name>
        <lei>549300028US163ELJN70</lei>
        <title>REXFORD INDUSTRIAL REALTY LP 144A 4.125000% 03/15/2029</title>
        <cusip>76169XAE4</cusip>
        <identifiers>
          <isin value="US76169XAE40"/>
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        <balance>317000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>309709.00000000</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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>REXFORD INDUSTRIAL REALT</name>
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        <lei>549300S9P1HMDERGCR64</lei>
        <title>SIXTH STREET LENDING PARTNERS 5.750000% 01/15/2030</title>
        <cusip>829932AD4</cusip>
        <identifiers>
          <isin value="US829932AD42"/>
        </identifiers>
        <balance>1601000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1604969.30000000</valUSD>
        <pctVal>0.090610189001</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>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOC GEN COLLATERAL BALANCE FS FUNDS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="FSCOLLSG"/>
        </identifiers>
        <balance>4576526.23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4576526.23000000</valUSD>
        <pctVal>0.258372485175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE SOUTHERN COMPANY</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN CO/THE 144A 3.250000% 06/15/2028</title>
        <cusip>842587EC7</cusip>
        <identifiers>
          <isin value="US842587EC73"/>
        </identifiers>
        <balance>6746000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6779730.00000000</valUSD>
        <pctVal>0.382756615144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>SOUTHERN CO</name>
              <title>SOUTHERN CO</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="842587EC7"/>
                <isin value="US842587EC73"/>
                <ticker value="SO"/>
                <other otherDesc="FIGI" value="BBG01V4TQDT4"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="8.80770000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE SOUTHERN COMPANY</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN CO/THE COMMON STOCK</title>
        <cusip>842587107</cusip>
        <identifiers>
          <isin value="US8425871071"/>
        </identifiers>
        <balance>-18400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1689672.00000000</valUSD>
        <pctVal>-0.09539216685</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPECIALTY BUILDING PRODUCTS HOLDINGS, LLC</name>
        <lei>549300ICFD46O3KMJC06</lei>
        <title>SPECIALTY BUILDING PRODUCTS HOLDINGS LLC / SBP FIN 7.750000% 10/15/2029</title>
        <cusip>84749AAC1</cusip>
        <identifiers>
          <isin value="US84749AAC18"/>
        </identifiers>
        <balance>-1631000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1602867.86000000</valUSD>
        <pctVal>-0.09049155004</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</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>SPX FLOW, INC.</name>
        <lei>5493003YXEKRBINIEM78</lei>
        <title>SPX FLOW INC 144A 8.750000% 04/01/2030</title>
        <cusip>758071AA2</cusip>
        <identifiers>
          <isin value="US758071AA21"/>
        </identifiers>
        <balance>5657000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5869488.23000000</valUSD>
        <pctVal>0.331367981844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>8.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SPX-SOFR BINARY CALL OPTION 12/19/25 LONG</title>
        <cusip>SPXC60067</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SPXC60067"/>
        </identifiers>
        <balance>200000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1300000.00000000</valUSD>
        <pctVal>0.073392834181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="SPX-SOFR BINARY CALL OPTION 12/19/25"/>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPY US 07/18/25 P545</name>
        <lei>N/A</lei>
        <title>SPY US 07/18/25 P545 LONG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SPY US 07/18/25 P545 Equity"/>
        </identifiers>
        <balance>120.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3240.00000000</valUSD>
        <pctVal>0.000182917525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="SPY US 07/18/25 P545"/>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPY US 07/18/25 P573</name>
        <lei>N/A</lei>
        <title>SPY US 07/18/25 P573 LONG</title>
        <cusip>59499TJ35</cusip>
        <identifiers>
          <ticker value="SPY US 07/18/25 P573 Equity"/>
        </identifiers>
        <balance>80.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4720.00000000</valUSD>
        <pctVal>0.000266472444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="SPY US 07/18/25 P573"/>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STAR TRUST</name>
        <lei>N/A</lei>
        <title>STAR 2024-SFR4 TRUST STAR 2024-SFR4 A</title>
        <cusip>85520AAA7</cusip>
        <identifiers>
          <isin value="US85520AAA79"/>
        </identifiers>
        <balance>9984821.69000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10046932.27000000</valUSD>
        <pctVal>0.567209872407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.06175920</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>STAR PARENT, INC.</name>
        <lei>254900GRGCJYRMDRWT73</lei>
        <title>STAR PARENT INC 144A 9.000000% 10/01/2030</title>
        <cusip>855170AA4</cusip>
        <identifiers>
          <isin value="US855170AA41"/>
        </identifiers>
        <balance>-1030000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1083373.35000000</valUSD>
        <pctVal>-0.06116295433</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</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>STARWOOD PROPERTY TRUST, INC.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>STARWOOD PROPERTY TRUST INC 144A 6.000000% 04/15/2030</title>
        <cusip>85571BBC8</cusip>
        <identifiers>
          <isin value="US85571BBC81"/>
        </identifiers>
        <balance>2297000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2323284.57000000</valUSD>
        <pctVal>0.131163414771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</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>STARWOOD PROPERTY TRUST, INC.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>STARWOOD PROPERTY TRUST INC 144A 7.250000% 04/01/2029</title>
        <cusip>85571BBB0</cusip>
        <identifiers>
          <isin value="US85571BBB09"/>
        </identifiers>
        <balance>1488000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1565108.74000000</valUSD>
        <pctVal>0.088359820178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>SUNOCO LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUNOCO LP / SUNOCO FINANCE CORP 6.000000% 04/15/2027</title>
        <cusip>86765LAQ0</cusip>
        <identifiers>
          <isin value="US86765LAQ05"/>
        </identifiers>
        <balance>1726000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1725528.63000000</valUSD>
        <pctVal>0.097416489705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</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>SUPER MICRO COMPUTER, INC.</name>
        <lei>54930022CZO1N2UGVW07</lei>
        <title>SUPER MICRO COMPUTER INC 3.500000% 03/01/2029</title>
        <cusip>86800UAB0</cusip>
        <identifiers>
          <isin value="US86800UAB08"/>
        </identifiers>
        <balance>3675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3829350.00000000</valUSD>
        <pctVal>0.216189884288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>SUPER MICRO COMPUTER INC</name>
              <title>SUPER MICRO COMPUTER INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="86800UAB0"/>
                <isin value="US86800UAB08"/>
                <ticker value="SMCI"/>
                <other otherDesc="FIGI" value="BBG01LNV6CT4"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="11.98420000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUPER MICRO COMPUTER, INC.</name>
        <lei>54930022CZO1N2UGVW07</lei>
        <title>SUPER MICRO COMPUTER INC COMMON STOCK</title>
        <cusip>86800U302</cusip>
        <identifiers>
          <isin value="US86800U3023"/>
        </identifiers>
        <balance>-28560.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1399725.60000000</valUSD>
        <pctVal>-0.07902294527</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SURGERY CENTER HOLDINGS, INC.</name>
        <lei>54930054EVI5HWPPW113</lei>
        <title>SURGERY CENTER HOLDINGS INC 144A 7.250000% 04/15/2032</title>
        <cusip>86881WAF9</cusip>
        <identifiers>
          <isin value="US86881WAF95"/>
        </identifiers>
        <balance>1698000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1730282.49000000</valUSD>
        <pctVal>0.097684873751</pctVal>
        <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>7.25000000</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>SWCH COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>SWCH COMMERCIAL MORTGAGE TRUST 2025-DATA SWCH 2025-DATA A</title>
        <cusip>78489CAA7</cusip>
        <identifiers>
          <isin value="US78489CAA71"/>
        </identifiers>
        <balance>5660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5618124.49000000</valUSD>
        <pctVal>0.317176983929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SWCH COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
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          <isin value="US78489CAE93"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SWITCH ABS ISSUER LLC</name>
        <lei>N/A</lei>
        <title>SWITCH ABS ISSUER LLC SWTCH 2024-2A C</title>
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          <isin value="US871044AJ27"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SX5E DIVIDEND FUT DEC26 PHYSICAL INDEX FUTURE.</title>
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          <ticker value="FEXDZ6"/>
          <other otherDesc="Bloomberg Ticker" value="DEDZ6"/>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>DEUTSCHE BANK SECURITIES, INC.</counterpartyName>
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                <indexName>Dow Jones EURO STOXX 50 Index Dividend Futures Dec 2026</indexName>
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      <invstOrSec>
        <name>SYCAMORE TREE CLO LTD</name>
        <lei>N/A</lei>
        <title>SYCAMORE TREE CLO 2023-2 LTD STCP 2023-2A ER</title>
        <cusip>87122EAE9</cusip>
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          <isin value="US87122EAE95"/>
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        <curCd>USD</curCd>
        <valUSD>1005220.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.94946920</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>SYMPHONY CLO, LTD.</name>
        <lei>N/A</lei>
        <title>SYMPHONY CLO XX LTD SYMP 2018-20A E</title>
        <cusip>87166XAA2</cusip>
        <identifiers>
          <isin value="US87166XAA28"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>240640.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEGNA INC.</name>
        <lei>549300YC5EDBGX85AO10</lei>
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        <identifiers>
          <isin value="US87901JAH86"/>
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        <balance>-1135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1084133.50000000</valUSD>
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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>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TENET HEALTHCARE CORPORATION</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>TENET HEALTHCARE CORP 6.250000% 02/01/2027</title>
        <cusip>88033GDS6</cusip>
        <identifiers>
          <isin value="US88033GDS66"/>
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        <balance>2017000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2016922.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>TEXAS COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>TEXAS COMMERCIAL MORTGAGE TRUST 2025-TWR TEXAS 2025-TWR D</title>
        <cusip>88231WAG0</cusip>
        <identifiers>
          <isin value="US88231WAG06"/>
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        <balance>130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130162.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.40235960</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THPT MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>THPT 2023-THL MORTGAGE TRUST THPT 2023-THL E</title>
        <cusip>87252LAL9</cusip>
        <identifiers>
          <isin value="US87252LAL99"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1513131.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.74449880</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>THPT MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>THPT 2023-THL MORTGAGE TRUST THPT 2023-THL F</title>
        <cusip>87252LAN5</cusip>
        <identifiers>
          <isin value="US87252LAN55"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>539081.87000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.18855920</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>TIAA CLO LTD</name>
        <lei>N/A</lei>
        <title>TIAA CLO I LTD TIA 2016-1A DR</title>
        <cusip>87271LAQ5</cusip>
        <identifiers>
          <isin value="US87271LAQ59"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499114.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.03108160</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>TICP CLO LTD</name>
        <lei>N/A</lei>
        <title>TICP CLO VII LTD TICP 2017-7A ER</title>
        <cusip>87248UAD4</cusip>
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          <isin value="US87248UAD46"/>
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        <curCd>USD</curCd>
        <valUSD>1822950.84000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TKC HOLDINGS, INC.</name>
        <lei>N/A</lei>
        <title>TKC HOLDINGS INC 144A 6.875000% 05/15/2028</title>
        <cusip>87256YAC7</cusip>
        <identifiers>
          <isin value="US87256YAC75"/>
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        <balance>2787000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2769785.82000000</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>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TMS INTERNATIONAL CORP.</name>
        <lei>N/A</lei>
        <title>TMS INTERNATIONAL CORP/DE 144A 6.250000% 04/15/2029</title>
        <cusip>87261QAC7</cusip>
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          <isin value="US87261QAC78"/>
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        <balance>2440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2319994.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>TOGETHER ASSET BACKED SECURITISATION 1 PLC</name>
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        <title>TOGETHER ASSET BACKED SECURITISATION 2024-2ND1 PLC TOGET 2024-2ND1A E</title>
        <cusip>TGT8V7VD0</cusip>
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          <isin value="XS2742449171"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.94580018</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>TOWD POINT ASSET TRUST</name>
        <lei>N/A</lei>
        <title>TOWD POINT ASSET TRUST 2021-SL1 TPAT 2021-SL1 D</title>
        <cusip>89179XAD7</cusip>
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          <isin value="US89179XAD75"/>
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        <curCd>USD</curCd>
        <valUSD>2931857.23000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.13206000</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>JP MORGAN CHASE BANK N.A.</name>
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      <invstOrSec>
        <name>VISTA POINT SECURITIZATION TRUST</name>
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        <title>VISTA POINT SECURITIZATION TRUST SERIES 2024-CES2 VSTA 2024-CES2 A1</title>
        <cusip>92841YAA3</cusip>
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          <isin value="US92841YAA38"/>
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        <curCd>USD</curCd>
        <valUSD>6663358.02000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VISTAJET MALTA FINANCE P.L.C.</name>
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        <cusip>92840JAD1</cusip>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VSTRONG AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>VSTRONG AUTO RECEIVABLES TRUST 2023-A VSTRG 2023-A E</title>
        <cusip>92920CAN7</cusip>
        <identifiers>
          <isin value="US92920CAN74"/>
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        <balance>540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576449.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.99000000</annualizedRt>
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      <invstOrSec>
        <name>VORNADO REALTY TRUST</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust PREFERRED STOCK</title>
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          <isin value="US9290427940"/>
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        <balance>175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2520.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>WARNERMEDIA HOLDINGS INC 4.054000% 03/15/2029</title>
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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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>WAYFAIR INC.</name>
        <lei>N/A</lei>
        <title>WAYFAIR INC 3.500000% 11/15/2028</title>
        <cusip>94419LAR2</cusip>
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          <isin value="US94419LAR24"/>
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        <balance>3461000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4675386.51000000</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>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>WAYFAIR INC</title>
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                <ticker value="W"/>
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        <securityLending>
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      <invstOrSec>
        <name>WAYFAIR INC.</name>
        <lei>N/A</lei>
        <title>WAYFAIR INC- CLASS A COMMON STOCK</title>
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          <isin value="US94419L1017"/>
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        <curCd>USD</curCd>
        <valUSD>-2838014.30000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>WCORE COMMERCIAL MORTGAGE TRUST 2024-CORE WCORE 2024-CORE E</title>
        <cusip>951913AJ1</cusip>
        <identifiers>
          <isin value="US951913AJ17"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.25050880</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>
      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-P2 WFCM 2015-P2 D</title>
        <cusip>95000AAC1</cusip>
        <identifiers>
          <isin value="US95000AAC18"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209209.59000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.24100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-MGP WFCM 2024-MGP A11</title>
        <cusip>95003TAA1</cusip>
        <identifiers>
          <isin value="US95003TAA16"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4979594.50000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
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        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-MGP WFCM 2024-MGP D11</title>
        <cusip>95003TAG8</cusip>
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          <isin value="US95003TAG85"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2008571.40000000</valUSD>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>8.00003160</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
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        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-DWHP WFCM 2025-DWHP A</title>
        <cusip>95004EAA3</cusip>
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          <isin value="US95004EAA38"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9990639.00000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-DWHP WFCM 2025-DWHP E</title>
        <cusip>95004EAJ4</cusip>
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          <isin value="US95004EAJ47"/>
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        <name>WELLS FARGO MORTGAGE BACKED SECURITIES TRUST</name>
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        <title>WELLS FARGO MORTGAGE BACKED SECURITIES 2021-RR1 TR WFMBS 2021-RR1 AIO1</title>
        <cusip>95003JAW5</cusip>
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          <isin value="US95003JAW53"/>
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        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WESTGATE RESORTS LLC</name>
        <lei>N/A</lei>
        <title>WESTGATE RESORTS 2023-1 LLC WESTR 2023-1A D</title>
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          <isin value="US96033EAD04"/>
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        <valUSD>257854.93000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WESTGATE RESORTS LLC</name>
        <lei>N/A</lei>
        <title>WESTGATE RESORTS 2024-1 LLC WESTR 2024-1A D</title>
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          <isin value="US96034KAD54"/>
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        <curCd>USD</curCd>
        <valUSD>1134312.14000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JP MORGAN CHASE BANK N.A.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>WF-IRS 10YR PAY FIXED 3.765000</title>
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          <other otherDesc="All Others" value="S62051470"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1495.95000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <title>WF-IRS 4YR PAY FIXED 3.502000</title>
        <cusip>S62051467</cusip>
        <identifiers>
          <other otherDesc="All Others" value="S62051467"/>
        </identifiers>
        <balance>25325000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>19786.00000000</valUSD>
        <pctVal>0.001117038936</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFRRATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Month" resetDtUnit="12"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.502"/>
            <terminationDt>2029-05-06</terminationDt>
            <upfrontPmnt>48.70000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-25325000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>19737.30000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP MORGAN CHASE BANK N.A.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>WF-IRS 5YR PAY FIXED 3.539000</title>
        <cusip>S62051474</cusip>
        <identifiers>
          <other otherDesc="All Others" value="S62051474"/>
        </identifiers>
        <balance>28952000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>27989.00000000</valUSD>
        <pctVal>0.001580147719</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFRRATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Month" resetDtUnit="12"/>
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            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.539"/>
            <terminationDt>2030-05-06</terminationDt>
            <upfrontPmnt>58.02000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-28952000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>27930.98000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP MORGAN CHASE BANK N.A.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>WF-IRS 6YR PAY FIXED 3.584000</title>
        <cusip>S62051469</cusip>
        <identifiers>
          <other otherDesc="All Others" value="S62051469"/>
        </identifiers>
        <balance>2073000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-9988.90000000</valUSD>
        <pctVal>-0.00056393360</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFRRATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Month" resetDtUnit="12"/>
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            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.58400000"/>
            <terminationDt>2031-05-06</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-2073000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-9988.90000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP MORGAN CHASE BANK N.A.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>WF-IRS 7YR PAY FIXED 3.632000</title>
        <cusip>S62051471</cusip>
        <identifiers>
          <other otherDesc="All Others" value="S62051471"/>
        </identifiers>
        <balance>1120000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6735.10000000</valUSD>
        <pctVal>-0.00038023698</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFRRATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Month" resetDtUnit="12"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.63200000"/>
            <terminationDt>2032-05-06</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-1120000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-6735.10000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WINDSOR HOLDINGS III, LLC</name>
        <lei>254900IXUJZ9H146T437</lei>
        <title>WINDSOR HOLDINGS III LLC 144A 8.500000% 06/15/2030</title>
        <cusip>97360AAA5</cusip>
        <identifiers>
          <isin value="US97360AAA51"/>
        </identifiers>
        <balance>1599000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1713532.16000000</valUSD>
        <pctVal>0.096739216680</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>8.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTERN ALLIANCE BANCORPORATION</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp PREFERRED STOCK</title>
        <cusip>957638406</cusip>
        <identifiers>
          <isin value="US9576384062"/>
        </identifiers>
        <balance>19200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>418944.00000000</valUSD>
        <pctVal>0.023651913479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XHR LP</name>
        <lei>549300M88BPT83ZL2164</lei>
        <title>XHR LP 144A 6.625000% 05/15/2030</title>
        <cusip>98372MAE5</cusip>
        <identifiers>
          <isin value="US98372MAE57"/>
        </identifiers>
        <balance>617000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>628640.94000000</valUSD>
        <pctVal>0.035490569438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>6.62500000</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>XOM US 07/18/25 C120</name>
        <lei>N/A</lei>
        <title>XOM US 07/18/25 C120 LONG</title>
        <cusip>472991K56</cusip>
        <identifiers>
          <ticker value="XOM US 07/18/25 C120 Equity"/>
        </identifiers>
        <balance>153.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1224.00000000</valUSD>
        <pctVal>0.000069102176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="XOM US 07/18/25 C120"/>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>THE ADVISORS' INNER CIRCLE III</ncom:nameOfApplicant>
      <ncom:signature>Andrew Metzger</ncom:signature>
      <ncom:signerName>Andrew Metzger</ncom:signerName>
      <ncom:title>Treasurer, Controller and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
