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        <name>AB BSL CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AREIT LTD.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>ARINI US CLO</name>
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        <name>BNP Paribas</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
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          <other otherDesc="All Others" value="041242AA6"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AST SPACEMOBILE, INC.</name>
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        <name>AST SPACEMOBILE, INC.</name>
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        <name>ATLANTICUS HOLDINGS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVANT LOANS FUNDING TRUST</name>
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        <title>AVANT LOANS FUNDING TRUST 2025-REV1 AVNT 2025-REV1 D</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AVIANCA MIDCO 2 PLC</name>
        <lei>213800AMPX5VKH9AMX10</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AVIANCA MIDCO 2 PLC</name>
        <lei>213800AMPX5VKH9AMX10</lei>
        <title>AVIANCA MIDCO 2 PLC 144A 9.000000% 12/01/2028</title>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>AVIS BUDGET RENTAL CAR FUNDING</name>
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        <title>AVIS BUDGET RENTAL CAR FUNDING AESOP LLC AESOP 2026-2A D</title>
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        <name>AVIS BUDGET RENTAL CAR FUNDING</name>
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        <name>ADAMAS TRUST, INC.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>Adamas Trust Inc PREFERRED STOCK</title>
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        <name>ALBEMARLE CORPORATION</name>
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        <title>Alphabet Inc PREFERRED STOCK</title>
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        <name>BAML</name>
        <lei>984500653R409CC5AB28</lei>
        <title>BAML Commodity Vol TRS</title>
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                  <component>
                    <othIndName>NZD USD 1 Month Forward</othIndName>
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                      <ticker value="NZD USD 1 Month Forward"/>
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                  <component>
                    <othIndName>SEK USD 1 Month Forward</othIndName>
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                      <ticker value="SEK USD 1 Month Forward"/>
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                    <othIndNotAmt>0.01000000</othIndNotAmt>
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              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">equity-performance leg</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.10000000"/>
            <terminationDt>2026-09-18</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>137242.93000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: CITIGROUP COL: 95004VAA5</title>
        <cusip>N/A</cusip>
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          <other otherDesc="All Others" value="95004VARD"/>
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        <curCd>USD</curCd>
        <valUSD>-1596000.00000000</valUSD>
        <pctVal>-0.10890030001</pctVal>
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        <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>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2000000.00000000</principalAmt>
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              <collateralVal>2001250.00000000</collateralVal>
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              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 66858CAQ0</title>
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          <other otherDesc="All Others" value="66858CARG"/>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="BAML" isCleared="Y"/>
          <isTriParty>N</isTriParty>
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          <maturityDt>2026-09-11</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10000000.00000000</principalAmt>
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              <collateralVal>10007040.00000000</collateralVal>
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              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 91825KAA5</title>
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        <identifiers>
          <other otherDesc="All Others" value="91825KARB"/>
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        <curCd>USD</curCd>
        <valUSD>-4796000.00000000</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>4.18990000</repurchaseRt>
          <maturityDt>2026-08-12</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>8000000.00000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>7828874.00000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRK: MERRILL LYNCH, PIERCE, FENNER &amp; SMITH COL: 95004EAA3</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="95004EARE"/>
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        <curCd>USD</curCd>
        <valUSD>-8030000.00000000</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>2026-07-14</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10000000.00000000</principalAmt>
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              <collateralVal>10050000.00000000</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>BRIGHTSPIRE CAPITAL</name>
        <lei>N/A</lei>
        <title>BRSP 2024-FL2 LTD BRSP 2024-FL2 D</title>
        <cusip>05613BAJ2</cusip>
        <identifiers>
          <isin value="US05613BAJ26"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1988714.00000000</valUSD>
        <pctVal>0.135696460673</pctVal>
        <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>8.48016000</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>BRUKER CORPORATION</name>
        <lei>LEBZ6VLQ6I8XB1NHVY15</lei>
        <title>BRUKER CORP COMMON STOCK</title>
        <cusip>116794108</cusip>
        <identifiers>
          <isin value="US1167941087"/>
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        <balance>-125733.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-7566611.94000000</valUSD>
        <pctVal>-0.51629468065</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>BSPDF ISSUER LTD</name>
        <lei>N/A</lei>
        <title>BSPDF 2026-FL4 ISSUER LLC BSPDF 2026-FL4 E</title>
        <cusip>05620LAL6</cusip>
        <identifiers>
          <isin value="US05620LAL62"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2499975.00000000</valUSD>
        <pctVal>0.170581470876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.38717840</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>BURFORD CAPITAL GLOBAL FINANCE LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURFORD CAPITAL GLOBAL FINANCE LLC 144A 6.250000% 04/15/2028</title>
        <cusip>12116LAA7</cusip>
        <identifiers>
          <isin value="US12116LAA70"/>
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        <balance>2246000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2218962.88000000</valUSD>
        <pctVal>0.151407094827</pctVal>
        <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>6.25000000</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>BURFORD CAPITAL GLOBAL FINANCE LLC</name>
        <lei>549300JVAOO67CSCH406</lei>
        <title>BURFORD CAPITAL GLOBAL FINANCE LLC 144A 8.500000% 01/15/2034</title>
        <cusip>12116LAJ8</cusip>
        <identifiers>
          <isin value="US12116LAJ89"/>
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        <balance>1307000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1145585.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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>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>2176000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2218373.25000000</valUSD>
        <pctVal>0.151366862444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-06-30</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 2026-VLT9 BX 2026-VLT9 E</title>
        <cusip>05618UAJ5</cusip>
        <identifiers>
          <isin value="US05618UAJ51"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999990.70000000</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>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.87538880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2024-VLT4 BX 2024-VLT4 F</title>
        <cusip>05612TAL9</cusip>
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          <isin value="US05612TAL98"/>
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        <balance>3821208.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3781989.39000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.56326880</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 2025-VLT6 BX 2025-VLT6 D</title>
        <cusip>12433KAG2</cusip>
        <identifiers>
          <isin value="US12433KAG22"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5971875.00000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.21698040</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>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2025-VLT6 BX 2025-VLT6 E</title>
        <cusip>12433KAJ6</cusip>
        <identifiers>
          <isin value="US12433KAJ60"/>
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        <balance>7300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7263500.00000000</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>2042-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.81612120</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2025-VLT7 BX 2025-VLT7 D</title>
        <cusip>123913AG0</cusip>
        <identifiers>
          <isin value="US123913AG08"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6000000.00000000</valUSD>
        <pctVal>0.409399624100</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>2044-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.87539160</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTURY COMMUNITIES, INC.</name>
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          <isin value="US156504AM47"/>
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        <curCd>USD</curCd>
        <valUSD>1219400.47000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARLOTTE BUYER, INC.</name>
        <lei>N/A</lei>
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        <cusip>160924AA4</cusip>
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          <isin value="US160924AA45"/>
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        <balance>955000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>966738.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHASE HOME LENDING MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CHASE HOME LENDING MORTGAGE TRUST SERIES 2024-5 CHASE 2024-5 AX1</title>
        <cusip>16159QAX5</cusip>
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          <isin value="US16159QAX51"/>
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        <balance>9883703.40200000</balance>
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        <curCd>USD</curCd>
        <valUSD>24313.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.15759720</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CIFC FUNDING LTD</name>
        <lei>N/A</lei>
        <title>CIFC FUNDING 2021-VII LTD CIFC 2021-7A ER</title>
        <cusip>12567KAE5</cusip>
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          <isin value="US12567KAE55"/>
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        <curCd>USD</curCd>
        <valUSD>1433466.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CIFC FUNDING LTD</name>
        <lei>N/A</lei>
        <title>CIFC FUNDING 2022-IV LTD CIFC 2022-4A ER</title>
        <cusip>12567XAG2</cusip>
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          <isin value="US12567XAG25"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLARIOS GLOBAL LP</name>
        <lei>549300474L1ZLXZY2P98</lei>
        <title>CLARIOS GLOBAL LP / CLARIOS US FINANCE CO 144A 6.750000% 09/15/2032</title>
        <cusip>18060TAE5</cusip>
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          <isin value="US18060TAE55"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLARIVATE SCIENCE HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
        <title>CLARIVATE SCIENCE HOLDINGS CORP 144A 3.875000% 07/01/2028</title>
        <cusip>18064PAC3</cusip>
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          <isin value="US18064PAC32"/>
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        <balance>266000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255809.09000000</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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          <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>CLARIVATE SCIENCE HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
        <title>CLARIVATE SCIENCE HOLDINGS CORP 144A 4.875000% 07/01/2029</title>
        <cusip>18064PAD1</cusip>
        <identifiers>
          <isin value="US18064PAD15"/>
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        <balance>1146000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1025563.54000000</valUSD>
        <pctVal>0.069977554627</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>CLEAR CHANNEL OUTDOOR HOLDINGS, INC.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>CLEAR CHANNEL OUTDOOR HOLDINGS INC 144A 7.875000% 04/01/2030</title>
        <cusip>18453HAF3</cusip>
        <identifiers>
          <isin value="US18453HAF38"/>
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        <balance>1234000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1285429.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLNY TRUST</name>
        <lei>N/A</lei>
        <title>CLNY TRUST 2019-IKPR CLNY 2019-IKPR C</title>
        <cusip>12564NAJ1</cusip>
        <identifiers>
          <isin value="US12564NAJ19"/>
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        <balance>2122000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2047730.00000000</valUSD>
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        <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>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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        <balance>1330000.00000000</balance>
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        <valUSD>1270150.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLUE OPCO LLC</name>
        <lei>N/A</lei>
        <title>CLUE OPCO LLC 144A 9.500000% 10/15/2031</title>
        <cusip>36267QAA2</cusip>
        <identifiers>
          <isin value="US36267QAA22"/>
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        <balance>1420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1365192.12000000</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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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CMS ENERGY CORPORATION</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP 144A 3.125000% 05/01/2031</title>
        <cusip>125896BZ2</cusip>
        <identifiers>
          <isin value="US125896BZ26"/>
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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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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>CMS ENERGY CORP</title>
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      <invstOrSec>
        <name>CMS ENERGY CORPORATION</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP COMMON STOCK</title>
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        <identifiers>
          <isin value="US1258961002"/>
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      <invstOrSec>
        <name>COINBASE GLOBAL, INC.</name>
        <lei>5493004G3J2SC154DU06</lei>
        <title>COINBASE GLOBAL INC -CLASS A COMMON STOCK</title>
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          <isin value="US19260Q1076"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COINBASE GLOBAL, INC.</name>
        <lei>5493004G3J2SC154DU06</lei>
        <title>COINBASE GLOBAL INC 144A ZERO COUPON 10/01/2029</title>
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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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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>COINBASE GLOBAL INC</title>
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                <isin value="US19260Q1076"/>
                <ticker value="COIN"/>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLT MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>COLT 2025-1 MORTGAGE LOAN TRUST COLT 2025-1 B2</title>
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        <identifiers>
          <isin value="US196920AH53"/>
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        <balance>300000.00000000</balance>
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        <name>CREDIT ACCEPTANCE CORPORATION</name>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ELMWOOD CLO</name>
        <lei>N/A</lei>
        <title>ELMWOOD CLO 30 LTD ELM30 2024-6A E</title>
        <cusip>29001KAA1</cusip>
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          <isin value="US29001KAA16"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499497.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELMWOOD CLO</name>
        <lei>N/A</lei>
        <title>ELMWOOD CLO II LTD ELMW2 2019-2A A2RR</title>
        <cusip>29001LAY7</cusip>
        <identifiers>
          <isin value="US29001LAY74"/>
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        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11008382.00000000</valUSD>
        <pctVal>0.751137908792</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.22523080</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER CLO LTD</name>
        <lei>N/A</lei>
        <title>EMPOWER CLO 2022-1 LTD EMPWR 2022-1A ER</title>
        <cusip>29246YAE8</cusip>
        <identifiers>
          <isin value="US29246YAE86"/>
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        <balance>660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>646381.56000000</valUSD>
        <pctVal>0.044104727948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.57522960</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>Enpro Inc.</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
        <title>ENPRO INC 144A 6.125000% 06/01/2033</title>
        <cusip>29355XAH0</cusip>
        <identifiers>
          <isin value="US29355XAH08"/>
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        <balance>1306000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1323107.29000000</valUSD>
        <pctVal>0.090279937861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>
      <invstOrSec>
        <name>EMERGENT AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>ENT AUTO RECEIVABLES TRUST 2023-1 ENT 2023-1A D</title>
        <cusip>293601AN0</cusip>
        <identifiers>
          <isin value="US293601AN07"/>
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        <balance>1560000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1612013.83000000</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>2031-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.70000000</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>EOS ENERGY ENTERPRISES, INC.</name>
        <lei>529900UCCJMLRGDXVT41</lei>
        <title>EOS ENERGY ENTERPRISES INC 144A 1.750000% 12/01/2031</title>
        <cusip>29415CAC5</cusip>
        <identifiers>
          <isin value="US29415CAC55"/>
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        <balance>1999000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1490224.97000000</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>EOS ENERGY ENTERPRISES I</name>
              <title>EOS ENERGY ENTERPRISES I</title>
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                <cusip value="29415CAC5"/>
                <isin value="US29415CAC55"/>
                <ticker value="EOSE"/>
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          <currencyInfos>
            <currencyInfo convRatio="61.37040000" curCd="USD"/>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EOS ENERGY ENTERPRISES, INC.</name>
        <lei>529900UCCJMLRGDXVT41</lei>
        <title>EOS ENERGY ENTERPRISES INC COMMON STOCK</title>
        <cusip>29415C101</cusip>
        <identifiers>
          <isin value="US29415C1018"/>
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        <balance>-96917.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-569871.96000000</valUSD>
        <pctVal>-0.03888422770</pctVal>
        <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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      </invstOrSec>
      <invstOrSec>
        <name>EURIBOR SWAP RATE OPTION 7-17-28</name>
        <lei>N/A</lei>
        <title>EURIBOR SWAP RATE OPTION 7-17-28 LONG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Options" value="CMSCAP728"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>EURIBOR SWAP RATE OPTION 7-17-28</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
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      <invstOrSec>
        <name>THE E.W. SCRIPPS COMPANY</name>
        <lei>549300U1OW41QPKYW028</lei>
        <title>EW SCRIPPS CO/THE 144A 9.875000% 08/15/2030</title>
        <cusip>811054AH8</cusip>
        <identifiers>
          <isin value="US811054AH89"/>
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        <balance>767000.00000000</balance>
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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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      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE RECEIVABLES TRUST 2026-1 EART 2026-1A E</title>
        <cusip>30168HAG2</cusip>
        <identifiers>
          <isin value="US30168HAG20"/>
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        <balance>3000000.00000000</balance>
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        <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>EXETER AUTOMOBILE RECEIVABLES TRUST</name>
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        <title>EXETER AUTOMOBILE RECEIVABLES TRUST 2026-2 EART 2026-2A E</title>
        <cusip>30166WAG1</cusip>
        <identifiers>
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        <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>EXETER AUTOMOBILE RECEIVABLES TRUST</name>
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        <title>EXETER AUTOMOBILE RECEIVABLES TRUST 2026-3 EART 2026-3A E</title>
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          <isin value="US30167AAG85"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>EXETER AUTOMOBILE RECEIVABLES TRUST</name>
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        <title>EXETER AUTOMOBILE RECEIVABLES TRUST EART 2025-3A E</title>
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        <name>EXETER SELECT AUTOMOBILE RECEIVABLES TRUST</name>
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        <title>EXETER SELECT AUTOMOBILE RECEIVABLES TRUST 2026-1 ESART 2026-1 E</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE INTEREST STRIP FNS 431 C35</title>
        <cusip>31423YP78</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDDIE MAC 30YR TBA (JULY)</title>
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        <curCd>USD</curCd>
        <valUSD>372382318.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</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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      </invstOrSec>
      <invstOrSec>
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            <currencyInfo convRatio="8.14360000" curCd="USD"/>
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        <name>FIESTA PURCHASER, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FIGRE TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FIRSTENERGY CORP.</name>
        <lei>549300SVYJS666PQJH88</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>FIRSTENERGY CORP</title>
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                <isin value="US3379321074"/>
                <ticker value="FE"/>
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        <securityLending>
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      <invstOrSec>
        <name>FIRSTENERGY CORP.</name>
        <lei>549300SVYJS666PQJH88</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FIVE POINT OPERATING COMPANY, LP</name>
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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>FLAGSTAR BANK, NATIONAL ASSOCIATION</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FLATIRON CLO LTD</name>
        <lei>N/A</lei>
        <title>FLATIRON CLO 23 LLC FLAT 2023-1A ER</title>
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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 LLC FLX 2025-1A A2</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FLEXENTIAL LLC</name>
        <lei>N/A</lei>
        <title>FLEXENTIAL ISSUER LLC FLX 2025-1A C</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FONTAINEBLEAU MIAMI BEACH TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FORTRESS CREDIT BSL LIMITED</name>
        <lei>N/A</lei>
        <title>FORTRESS CREDIT BSL VII LTD FCBSL 2019-1A DR</title>
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          <isin value="US34956NAU63"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FORTRESS CREDIT BSL LIMITED</name>
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        <title>FORTRESS CREDIT BSL XVIII LTD FCBSL 2023-1A D1R</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FORTRESS CREDIT BSL LIMITED</name>
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        <title>FORTRESS CREDIT BSL XX LTD FCBSL 2023-3A DR</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <title>FORTRESS CREDIT BSL XXV LTD FCBSL 2024-2AR D1R</title>
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        <name>N/A</name>
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        <title>FORTRESS CREDIT BSL XXV LTD FCBSL 2024-2AR ER</title>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC REMICS FHR 5250 SA</title>
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        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC REMICS FHR 5252 SP</title>
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        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>608715.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2015-123 SE</title>
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        <identifiers>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <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>Government National Mortgage Association</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1059473.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-100 S</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-89 LS</title>
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        <identifiers>
          <isin value="US38380XKS52"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-91 SH</title>
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          <isin value="US38380XYA98"/>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2018-91 SJ</title>
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          <isin value="US38380XYB71"/>
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        <balance>9262973.45700000</balance>
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        <curCd>USD</curCd>
        <valUSD>930214.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>2.49648840</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-139 WI</title>
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        <identifiers>
          <isin value="US38382XJQ97"/>
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        <balance>10547286.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1685578.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-20</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-215 SB</title>
        <cusip>38383DZ35</cusip>
        <identifiers>
          <isin value="US38383DZ353"/>
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        <balance>12674356.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>678397.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2021-216 IC</title>
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        <identifiers>
          <isin value="US38383D4F26"/>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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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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          <couponKind>Floating</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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          <maturityDt>2052-08-20</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-159 JS</title>
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          <isin value="US38383YML38"/>
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        <balance>34322342.50000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-193 SA</title>
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          <isin value="US38383Y7L05"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2022-23 WI</title>
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          <isin value="US38383MNG95"/>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-21 SE</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-23 SB</title>
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          <isin value="US38383V8A94"/>
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        <balance>29334051.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>440131.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.54128160</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2023-53 SB</title>
        <cusip>38383XXY5</cusip>
        <identifiers>
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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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        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 AI</title>
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        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 AS</title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 BI</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION GNR 2025-120 BS</title>
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        <balance>34859930.32000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Government National Mortgage Association</name>
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        <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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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOME RE LIMITED</name>
        <lei>N/A</lei>
        <title>HOME RE 2026-1 LTD HMIR 2026-1 M2</title>
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          <isin value="US436956AD88"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOME RE LIMITED</name>
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          <isin value="US436956AD88"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.82776000</annualizedRt>
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      <invstOrSec>
        <name>HOMES TRUST</name>
        <lei>N/A</lei>
        <title>HOMES 2025-AFC1 TRUST HOMES 2025-AFC1 B1</title>
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          <isin value="US403969AG31"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-01-25</maturityDt>
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      <invstOrSec>
        <name>HOMES TRUST</name>
        <lei>N/A</lei>
        <title>HOMES 2025-NQM2 TRUST HOMES 2025-NQM2 B2</title>
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          <isin value="US403966AF19"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOMES TRUST</name>
        <lei>N/A</lei>
        <title>HOMES 2025-NQM5 TRUST HOMES 2025-NQM5 B2</title>
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          <isin value="US43762CAH43"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HOTWIRE FUNDING LLC</name>
        <lei>N/A</lei>
        <title>HOTWIRE FUNDING LLC HWIRE 2024-1A C</title>
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          <isin value="US44148JAM18"/>
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        <curCd>USD</curCd>
        <valUSD>144621.53000000</valUSD>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Barclays</name>
        <lei>GGDZP1UYGU9STUHRDP48</lei>
        <title>HP INC. (5y) DEFAULT-06/20/2031-BCAPUS TRS</title>
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        <units>NC</units>
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        <assetCat>DCR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <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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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4625243.40000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>IHEARTCOMMUNICATIONS, INC.</name>
        <lei>54930076J6KDZL504O62</lei>
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        <cusip>45174HBL0</cusip>
        <identifiers>
          <isin value="US45174HBL06"/>
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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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        <name>IHEARTCOMMUNICATIONS, INC.</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>IHEARTCOMMUNICATIONS INC 144A 7.750000% 08/15/2030</title>
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        <curCd>USD</curCd>
        <valUSD>1363753.60000000</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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        <name>ILFC E-CAPITAL TRUST I</name>
        <lei>N/A</lei>
        <title>ILFC E-CAPITAL TRUST I 144A VARIABLE RATE 12/21/2065</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ILFC E-CAPITAL TRUST II</name>
        <lei>N/A</lei>
        <title>ILFC E-CAPITAL TRUST II 144A 6.538290% 12/21/2065</title>
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      <invstOrSec>
        <name>LUMMUS TECHNOLOGY HOLDINGS V LLC</name>
        <lei>549300K1Y0YC1YC1H809</lei>
        <title>ILLUMINATE BUYER LLC / ILLUMINATE HOLDINGS IV INC 9.000000% 07/01/2028</title>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>ION PLATFORM FINANCE US, INC.</name>
        <lei>213800FKHT3BRRKMCC89</lei>
        <title>ION PLATFORM FINANCE US INC / ION PLATFORM FINANCE 5.750000% 05/15/2028</title>
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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>ION PLATFORM FINANCE US, INC.</name>
        <lei>213800FKHT3BRRKMCC89</lei>
        <title>ION PLATFORM FINANCE US INC / ION PLATFORM FINANCE 9.500000% 05/30/2029</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>IRIS ESCROW ISSUER CORPORATION</name>
        <lei>N/A</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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      <invstOrSec>
        <name>LADDER CAPITAL FINANCE HOLDINGS LLLP</name>
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          <isin value="US516681AN38"/>
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          <isin value="US521088AD62"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LENDMARK FUNDING TRUST</name>
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          <isin value="US52590AAE47"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LFS TOPCO LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LFS TOPCO LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LIFEPOINT HEALTH, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LINDBLAD EXPEDITIONS, LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MADISON PARK FUNDING, LTD.</name>
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        <name>MAGNETITE CLO, LIMITED</name>
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        <name>MAGNETITE CLO, LIMITED</name>
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        <name>MakeMyTrip Limited</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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        <name>MATCH GROUP, INC.</name>
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      <invstOrSec>
        <name>MEACHAM PARK CLO, LTD.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>METRONET INFRASTRUCTURE ISSUER LLC</name>
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        <name>MF1 LTD</name>
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          <isin value="US55284JAL35"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MICROCHIP TECHNOLOGY INCORPORATED</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>MICROCHIP TECHNOLOGY INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MIDCAP FINANCIAL ISSUER TRUST</name>
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        <cusip>59590AAA7</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>MIDCAP FINANCIAL ISSUER TRUST</name>
        <lei>N/A</lei>
        <title>MIDCAP FINANCIAL ISSUER TRUST 144A 6.500000% 05/01/2028</title>
        <cusip>59567LAA2</cusip>
        <identifiers>
          <isin value="US59567LAA26"/>
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        <balance>3261000.00000000</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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        <name>MKT MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>MKT 2020-525M MORTGAGE TRUST MKT 2020-525M D</title>
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        <name>Mohegan Tribal Gaming Authority</name>
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        <cusip>60832QAB6</cusip>
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        <name>Mohegan Tribal Gaming Authority</name>
        <lei>549300UB083Z2NRDHC48</lei>
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        <cusip>60832QAA8</cusip>
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        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST</name>
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        <name>MORGAN STANLEY CAPITAL I TRUST</name>
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        <title>MORGAN STANLEY CAPITAL I TRUST 2024-BPR2 MSC 2024-BPR2 X</title>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST</name>
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        <title>MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 202 MSRM 2024-4 B4</title>
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      <invstOrSec>
        <name>NAVIENT CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCL CORPORATION LTD.</name>
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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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              <title>NCL CORPORATION LTD</title>
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                <ticker value="NCLH"/>
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            <currencyInfo convRatio="29.11890000" curCd="USD"/>
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      <invstOrSec>
        <name>NEPTUNE BIDCO US INC.</name>
        <lei>549300VG15T3VCYZ4531</lei>
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        <cusip>640695AA0</cusip>
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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>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>1795000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-20</maturityDt>
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      <invstOrSec>
        <name>NEUBERGER BERMAN LOAN ADVISERS LLC</name>
        <lei>N/A</lei>
        <title>NEUBERGER BERMAN LOAN ADVISERS CLO 45 LTD NEUB 2021-45A ER</title>
        <cusip>64134HAL1</cusip>
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          <isin value="US64134HAL15"/>
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        <balance>150000.00000000</balance>
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        <valUSD>140002.65000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2036-10-14</maturityDt>
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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>
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          <isin value="US64134RAL96"/>
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        <balance>250000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>NEUBERGER BERMAN LOAN ADVISERS LLC</name>
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        <title>NEUBERGER BERMAN LOAN ADVISERS CLO 47 LTD NEUB 2022-47A ER</title>
        <cusip>64134TAL5</cusip>
        <identifiers>
          <isin value="US64134TAL52"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>145697.10000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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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>3631000.00000000</balance>
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        <valUSD>3637337.37000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
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        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2024-NQM3 NRZT 2024-NQM3 B2</title>
        <cusip>647910AH1</cusip>
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          <isin value="US647910AH16"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <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>
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          <isin value="US64831XAG34"/>
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        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
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        <title>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2025-NQM2 NRZT 2025-NQM2 B2</title>
        <cusip>64831XAH1</cusip>
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        <cusip>64832GAH7</cusip>
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          <isin value="US64832GAH74"/>
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        <curCd>USD</curCd>
        <valUSD>2241906.60000000</valUSD>
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        <name>NEXTERA ENERGY, INC.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEXTERA ENERGY INC COMMON STOCK</title>
        <cusip>65339F101</cusip>
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        <curCd>USD</curCd>
        <valUSD>-2714989.41000000</valUSD>
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        <lei>N/A</lei>
        <title>NOMURA COLLATERAL BALANCE FS FUNDS</title>
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        <curCd>USD</curCd>
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        <name>NORTHERN OIL AND GAS, INC.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>NORTHERN OIL &amp; GAS INC</title>
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                <isin value="US6655313079"/>
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        <name>NORTHERN OIL AND GAS, INC.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>NORTHERN OIL AND GAS INC COMMON STOCK</title>
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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>
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          <isin value="US66858CAQ06"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORPORATION</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp PREFERRED STOCK</title>
        <cusip>68389X204</cusip>
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          <isin value="US68389X2045"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6620236.00000000</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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PG&amp;E CORPORATION</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>P G &amp; E CORP COMMON STOCK</title>
        <cusip>69331C108</cusip>
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          <isin value="US69331C1080"/>
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        <balance>-93457.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1571946.74000000</valUSD>
        <pctVal>-0.10725906741</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>
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      </invstOrSec>
      <invstOrSec>
        <name>PAGAYA AI DEBT GRANTOR TRUST</name>
        <lei>N/A</lei>
        <title>PAGAYA AI DEBT GRANTOR TRUST 2025-3 PAID 2025-3 D</title>
        <cusip>69544TAE4</cusip>
        <identifiers>
          <isin value="US69544TAE47"/>
        </identifiers>
        <balance>156669.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157322.23000000</valUSD>
        <pctVal>0.010734610304</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>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.98800000</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>PAR PETROLEUM, LLC</name>
        <lei>984500CCF05C2FB39F45</lei>
        <title>PAR PETROLEUM LLC 144A 7.375000% 06/01/2034</title>
        <cusip>70178JAB3</cusip>
        <identifiers>
          <isin value="US70178JAB35"/>
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        <balance>315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>318745.04000000</valUSD>
        <pctVal>0.021749016593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>PARK RIVER HOLDINGS, INC.</name>
        <lei>254900PGY077KWCROT75</lei>
        <title>PARK RIVER HOLDINGS INC 144A 8.750000% 12/31/2030</title>
        <cusip>70082LAD9</cusip>
        <identifiers>
          <isin value="US70082LAD91"/>
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        <balance>796000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>771247.27000000</valUSD>
        <pctVal>0.052624723737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</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>
      <invstOrSec>
        <name>PENNYMAC CORP.</name>
        <lei>EWN0I878407TKQNXZ933</lei>
        <title>PENNYMAC CORP 8.500000% 06/01/2029</title>
        <cusip>70932AAH6</cusip>
        <identifiers>
          <isin value="US70932AAH68"/>
        </identifiers>
        <balance>1608000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1633406.40000000</valUSD>
        <pctVal>0.111452661027</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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>PENNYMAC CORP</name>
              <title>PENNYMAC CORP</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="70932AAH6"/>
                <isin value="US70932AAH68"/>
                <ticker value="PMT"/>
                <other otherDesc="FIGI" value="BBG01N0QMC18"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="63.33320000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>7160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7317520.00000000</valUSD>
        <pctVal>0.499298322891</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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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="43.6104" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>2180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2152783.14000000</valUSD>
        <pctVal>0.146891434714</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLAYTIKA HOLDING CORP.</name>
        <lei>254900E35Z4TKA4UFG64</lei>
        <title>PLAYTIKA HOLDING CORP 144A 4.250000% 03/15/2029</title>
        <cusip>72815LAA5</cusip>
        <identifiers>
          <isin value="US72815LAA52"/>
        </identifiers>
        <balance>414000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>370530.00000000</valUSD>
        <pctVal>0.025282473786</pctVal>
        <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>4.25000000</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>PPL CAPITAL FUNDING, INC.</name>
        <lei>549300MROK5WY0D2NU17</lei>
        <title>PPL CAPITAL FUNDING INC 144A 3.000000% 12/01/2030</title>
        <cusip>69352PAU7</cusip>
        <identifiers>
          <isin value="US69352PAU75"/>
        </identifiers>
        <balance>7255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7376884.00000000</valUSD>
        <pctVal>0.503348922772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>PPL CAPITAL FUNDING INC</name>
              <title>PPL CAPITAL FUNDING INC</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="69352PAU7"/>
                <isin value="US69352PAU75"/>
                <ticker value="PPL"/>
                <other otherDesc="FIGI" value="BBG01YPGWZM4"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="23.44120000" 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>PPL CORPORATION</name>
        <lei>9N3UAJSNOUXFKQLF3V18</lei>
        <title>PPL CORP COMMON STOCK</title>
        <cusip>69351T106</cusip>
        <identifiers>
          <isin value="US69351T1060"/>
        </identifiers>
        <balance>-81631.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2967286.85000000</valUSD>
        <pctVal>-0.20246768683</pctVal>
        <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>
      <invstOrSec>
        <name>PRA GROUP, INC.</name>
        <lei>549300Q5HW3JSSB86K27</lei>
        <title>PRA GROUP INC 144A 5.000000% 10/01/2029</title>
        <cusip>69354NAD8</cusip>
        <identifiers>
          <isin value="US69354NAD84"/>
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        <balance>1443000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1363449.29000000</valUSD>
        <pctVal>0.093032604467</pctVal>
        <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>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRA GROUP, INC.</name>
        <lei>549300Q5HW3JSSB86K27</lei>
        <title>PRA GROUP INC 144A 8.375000% 02/01/2028</title>
        <cusip>69354NAE6</cusip>
        <identifiers>
          <isin value="US69354NAE67"/>
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        <balance>1975000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2002821.15000000</valUSD>
        <pctVal>0.136659037658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</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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        <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>640005.77000000</valUSD>
        <pctVal>0.043669686943</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>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROGRESS SOFTWARE CORPORATION</name>
        <lei>549300R65B3JG6972S24</lei>
        <title>PROGRESS SOFTWARE CORP 3.500000% 03/01/2030</title>
        <cusip>743312AD2</cusip>
        <identifiers>
          <isin value="US743312AD29"/>
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        <balance>1488000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1422763.19000000</valUSD>
        <pctVal>0.097079785861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</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>PROGRESS SOFTWARE CORP</name>
              <title>PROGRESS SOFTWARE CORP</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="743312AD2"/>
                <isin value="US7433121008"/>
                <ticker value="PRGS"/>
                <other otherDesc="FIGI" value="BBG000C4QP94"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="14.76220000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROGRESS SOFTWARE CORPORATION</name>
        <lei>549300R65B3JG6972S24</lei>
        <title>PROGRESS SOFTWARE CORP COMMON STOCK</title>
        <cusip>743312100</cusip>
        <identifiers>
          <isin value="US7433121008"/>
        </identifiers>
        <balance>-8786.00000000</balance>
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      <invstOrSec>
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      <invstOrSec>
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        <name>RATE MORTGAGE TRUST</name>
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        <name>BNP Paribas</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>REDWOOD TRUST, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>REGATTA FUNDING LTD</name>
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        <title>REGATTA XX FUNDING LTD REG20 2021-2A ER</title>
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        <name>REGIONAL MANAGEMENT ISSUANCE TRUST</name>
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        <name>RENEW FINANCIAL GROUP LLC</name>
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        <name>RFNA, LP</name>
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        <name>RISEWELL HOMES INC.</name>
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        <name>RITHM CAPITAL CORP.</name>
        <lei>549300WNTHGEO5LP2G31</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RMF PROPRIETARY ISSUANCE TRUST</name>
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        <title>RMF PROPRIETARY ISSUANCE TRUST 2021-2 RPIT 2021-2 A</title>
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        <cusip>N/A</cusip>
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          <isin value="N/A"/>
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        <curCd>USD</curCd>
        <valUSD>186355.32000000</valUSD>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SWO 107 STRIKE CDX46/HY 500 09/16/2026 06/20/2031</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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            </descRefInstrmnt>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>42661.77000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SWO 108.5 STRIKE CDX46/HY 500 09/16/2026 06/20/203</name>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6194.12000000</valUSD>
        <pctVal>-0.00042264506</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SWO 108.5 STRIKE CDX46/HY 500 09/16/2026 06/20/203</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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            <shareNo>-14500000.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>15309.67000000</unrealizedAppr>
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      <invstOrSec>
        <name>DEUTSCHE BANK SECURITIES, INC.</name>
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        <title>SX5E DIVIDEND FUT DEC26 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FEXDZ6"/>
          <other otherDesc="Bloomberg Ticker" value="DEDZ6"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.87520000"/>
        <valUSD>-58855118.83000000</valUSD>
        <pctVal>-4.01587725423</pctVal>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>DEUTSCHE BANK SECURITIES, INC.</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>N/A</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            <expDate>2026-12-21</expDate>
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            <curCd>EUR</curCd>
            <unrealizedAppr>-4265225.49000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236541.75000000</valUSD>
        <pctVal>0.016140017255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-16</maturityDt>
          <couponKind>Floating</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>SYNERGY INFRASTRUCTURE HOLDINGS, LLC</name>
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        <cusip>87191JAB0</cusip>
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          <isin value="US87191JAB08"/>
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        <balance>479000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485868.61000000</valUSD>
        <pctVal>0.033152404382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <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>SYNERGY INFRASTRUCTURE HOLDINGS, LLC</name>
        <lei>N/A</lei>
        <title>SYNERGY INFRASTRUCTURE HOLDINGS LLC 144A 7.875000% 12/01/2030</title>
        <cusip>87191JAA2</cusip>
        <identifiers>
          <isin value="US87191JAA25"/>
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        <balance>1895000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1980522.77000000</valUSD>
        <pctVal>0.135137546260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP Paribas</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
        <title>Starwood Property Trust, Inc. TRS</title>
        <cusip>85571BBC8</cusip>
        <identifiers>
          <other otherDesc="All Others" value="85571BBC8"/>
        </identifiers>
        <balance>1922000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1940353.473</valUSD>
        <pctVal>0.132396663744</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BNP Paribas</counterpartyName>
              <counterpartyLei>74KKBLHM4AWY05GPNY79</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>RECV STARWOOD PR TRS BOND</indexName>
                <indexIdentifier>RECV STARWOOD PR TRS BOND</indexIdentifier>
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                  <component>
                    <othIndName>TRS on STARWOOD PROPERTY TRUST 6% 04/15/2030 144A</othIndName>
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                      <isin value="US85571BBC81"/>
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                    <othIndIssCurCd>USD</othIndIssCurCd>
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                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">equity-performance leg</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFRRATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
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            <terminationDt>2030-04-15</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-1940220.56000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-11220.64000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEAM HEALTH HOLDINGS, INC.</name>
        <lei>549300PVTQ4UDTTMQT11</lei>
        <title>TEAM HEALTH HOLDINGS INC 144A 13.500000% 06/30/2028</title>
        <cusip>87817AAB3</cusip>
        <identifiers>
          <isin value="US87817AAB35"/>
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        <balance>5776000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5906248.80000000</valUSD>
        <pctVal>0.403002673094</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>13.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1485249.15000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.74449880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1720161.28000000</valUSD>
        <pctVal>0.117372230237</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>
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          <couponKind>Floating</couponKind>
          <annualizedRt>7.428179</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>TMS INTERNATIONAL CORP.</name>
        <lei>N/A</lei>
        <title>TMS INTERNATIONAL CORP/DE 144A 6.250000% 04/15/2029</title>
        <cusip>87261QAC7</cusip>
        <identifiers>
          <isin value="US87261QAC78"/>
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        <balance>945000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>945628.43000000</valUSD>
        <pctVal>0.064523320630</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>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>
        <identifiers>
          <isin value="US89179XAD75"/>
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        <balance>3130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3085702.68000000</valUSD>
        <pctVal>0.210547586213</pctVal>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TPG RE FINANCE TRUST, INC.</name>
        <lei>N/A</lei>
        <title>TPG RE Finance Trust Inc PREFERRED STOCK</title>
        <cusip>87266M206</cusip>
        <identifiers>
          <isin value="US87266M2061"/>
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        <balance>10953.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>194415.75000000</valUSD>
        <pctVal>0.013265622494</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>
      <invstOrSec>
        <name>TRIP.COM GROUP LIMITED</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD 0.750000% 06/15/2029</title>
        <cusip>89677QAB3</cusip>
        <identifiers>
          <isin value="US89677QAB32"/>
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        <balance>6490000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6389405.00000000</valUSD>
        <pctVal>0.435970000871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>TRIP.COM GROUP LTD</name>
              <title>TRIP.COM GROUP LTD</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="89677QAB3"/>
                <isin value="US89677Q1076"/>
                <ticker value="TCOM"/>
                <other otherDesc="FIGI" value="BBG000CWKYS8"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="15.11930000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRIP.COM GROUP LIMITED</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>TRIP.COM GROUP LTD-ADR DEPOSITARY RECEIPT</title>
        <cusip>89677Q107</cusip>
        <identifiers>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BNP Paribas</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BNP</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>BNP</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
        <title>TRS on LIONS GATE CAPITAL HOL 1 6% 04/15/2030 144A TRS</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>JPM Chase</name>
        <lei>984500653R409CC5AB28</lei>
        <title>TRS on MARKIT IBOXX HY SEP26 TRS</title>
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          <other otherDesc="All Others" value="TRS620616"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>JP MORGAN CHASE BANK N.A.</counterpartyName>
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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>984500653R409CC5AB28</lei>
        <title>TRS on MARKIT IBOXX HY SEP26 TRS</title>
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          <other otherDesc="All Others" value="TRS620599"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>JPM Chase</name>
        <lei>984500653R409CC5AB28</lei>
        <title>TRS on MARKIT IBOXX HY SEP26 TRS</title>
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      <invstOrSec>
        <name>BNP</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
        <title>TRS on PARK RIVER HOLDINGS INC 8% 03/15/2031 144A TRS</title>
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      <invstOrSec>
        <name>BNP</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
        <title>TRS on QUIKRETE HOLDINGS INC 6.75% 03/01/2033 144A TRS</title>
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      <invstOrSec>
        <name>BNP</name>
        <lei>74KKBLHM4AWY05GPNY79</lei>
        <title>TRS on RITHM CAPITAL CORP 8% 04/01/2029 144A</title>
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        </identifiers>
        <balance>442014.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4215.43000000</valUSD>
        <pctVal>0.000287632576</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="413.70000000"/>
            <terminationDt>2051-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-442014.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>4215.43000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 2YR PAY FIXED 3.588000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E7X"/>
        </identifiers>
        <balance>2779304.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>20527.35000000</valUSD>
        <pctVal>0.001400648228</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="358.80000000"/>
            <terminationDt>2028-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-2779304.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>20527.35000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 3YR PAY FIXED 3.551000</title>
        <cusip>SL5145E83</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E83"/>
        </identifiers>
        <balance>6083092.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>64285.57000000</valUSD>
        <pctVal>0.004386414698</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="355.10000000"/>
            <terminationDt>2029-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-6083092.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>64285.57000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 4YR PAY FIXED 3.560000</title>
        <cusip>SL5145E86</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E86"/>
        </identifiers>
        <balance>22477408.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>276377.15000000</valUSD>
        <pctVal>0.018858116886</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="356.00000000"/>
            <terminationDt>2030-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-22477408.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>276377.15000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 51MTH PAY FIXED 4.00566</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL514PII1"/>
        </identifiers>
        <balance>23000000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-97943.26000000</valUSD>
        <pctVal>-0.00668298897</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="400.56600000"/>
            <terminationDt>2030-11-30</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-23000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-97943.26000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 5YR PAY FIXED 3.591000</title>
        <cusip>SL5145E89</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E89"/>
        </identifiers>
        <balance>20918787.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>279154.90000000</valUSD>
        <pctVal>0.019047651854</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="359.10000000"/>
            <terminationDt>2031-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-20918787.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>279154.90000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 6YR PAY FIXED 3.638000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E8F"/>
        </identifiers>
        <balance>4100518.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>55907.03000000</valUSD>
        <pctVal>0.003814719511</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="363.80000000"/>
            <terminationDt>2032-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-4100518.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>55907.03000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 7YR PAY FIXED 3.690000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E8I"/>
        </identifiers>
        <balance>80354.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1086.41000000</valUSD>
        <pctVal>0.000074129307</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="369.00000000"/>
            <terminationDt>2033-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-80354.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1086.41000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPM Chase</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>WF-IRS 8YR PAY FIXED 3.73900</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="SL5145E8L"/>
        </identifiers>
        <balance>154433.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2050.18000000</valUSD>
        <pctVal>0.000139890486</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="373.90000000"/>
            <terminationDt>2034-04-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-154433.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2050.18000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <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>130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3109.60000000</valUSD>
        <pctVal>0.000212178178</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>ZOOMINFO TECHNOLOGIES LLC</name>
        <lei>254900NOX7TLOJ3WS309</lei>
        <title>ZOOMINFO TECHNOLOGIES LLC/ZOOMINFO FINANCE CORP 14 3.875000% 02/01/2029</title>
        <cusip>98981BAA0</cusip>
        <identifiers>
          <isin value="US98981BAA08"/>
        </identifiers>
        <balance>1279000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1040150.20000000</valUSD>
        <pctVal>0.070972850148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The presentation of the Class A returns in Item B.5.a, includes the sales load associated with the share class. " noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-30</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>
