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        <name>WellCare Health Plans, Inc.</name>
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        <name>Owens Corning</name>
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        <name>Eldorado Resorts, Inc.</name>
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        <name>Brooklyn Union Gas Co. (The)</name>
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        <name>CSC Holdings LLC</name>
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        <name>Antero Midstream Partners LP</name>
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          <maturityDt>2027-03-01</maturityDt>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
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        <name>United Rentals North America, Inc.</name>
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        <name>CommScope, Inc.</name>
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        <name>CommScope, Inc.</name>
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        <name>United States of America</name>
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        <name>Lions Gate Capital Holdings LLC</name>
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        <name>Athene Global Funding</name>
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        <name>Select Medical Corp.</name>
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        <name>Clean Harbors, Inc.</name>
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        <name>Hilcorp Energy I LP</name>
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        <name>Frontier Communications Corp.</name>
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        <name>ESH Hospitality, Inc.</name>
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        <name>GSAA Home Equity Trust</name>
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        <name>Gray Television, Inc.</name>
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        <name>Comcast Corp.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>CSMC Trust</name>
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        <name>SS&amp;C Technologies, Inc.</name>
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        <name>Sprint Corp.</name>
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        <name>Dun &amp; Bradstreet Corp. (The)</name>
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        <name>BioMarin Pharmaceutical, Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
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        <name>John Deere Capital Corp.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>Springleaf Finance Corp.</name>
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        <name>Transocean Poseidon Ltd.</name>
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        <name>United States of America</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>United States of America</name>
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        <name>ESH Hospitality, Inc.</name>
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        <name>Willis Towers Watson plc</name>
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        <name>Live Nation Entertainment, Inc.</name>
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        <name>United Rentals North America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prudential Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Centene Corp.</name>
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        <name>Alcon, Inc.</name>
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        <name>iHeartCommunications, Inc.</name>
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        <name>Diamond Sports Group LLC</name>
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        <name>Liberty Mutual Group, Inc.</name>
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          <maturityDt>2050-10-15</maturityDt>
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        <name>Indigo Natural Resources LLC</name>
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          <maturityDt>2026-02-15</maturityDt>
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        <name>GTT Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-31</maturityDt>
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        <name>General Electric Co.</name>
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        <title>General Electric Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <name>Post Holdings, Inc.</name>
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        <name>FHLMC</name>
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        <name>Visa, Inc.</name>
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        <name>Penske Truck Leasing Co. LP</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>Alphabet, Inc.</name>
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        <name>DoubleLine Floating Rate Fund</name>
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        <name>Nationstar Mortgage Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Nationstar Mortgage Holdings, Inc.</title>
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        <name>PetSmart, Inc.</name>
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        <name>Anthem, Inc.</name>
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        <name>Simon Property Group LP</name>
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        <name>Novartis AG</name>
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        <name>Willis North America, Inc.</name>
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        <name>Pioneer Natural Resources Co.</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>CSX Corp.</name>
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        <name>Pretium Mortgage Credit Partners I LLC</name>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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      <invstOrSec>
        <name>BBA US Holdings, Inc.</name>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US3136ABJ466"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-25</maturityDt>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
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          <isin value="US071734AF49"/>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Discover Financial Services</name>
        <lei>Z1YLO2USPORE63VVUL20</lei>
        <title>Discover Financial Services</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-09</maturityDt>
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          <annualizedRt>4.10000000</annualizedRt>
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        <name>PayPal Holdings, Inc.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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          <isin value="US05401AAD37"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Sunoco LP</name>
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        <title>Sunoco LP</title>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25815.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Viking Cruises Ltd.</name>
        <lei>549300IJP90T4MV2GL84</lei>
        <title>Viking Cruises Ltd.</title>
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        <curCd>USD</curCd>
        <valUSD>42550.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cincinnati Bell, Inc.</name>
        <lei>549300JYVZOCUJOHL272</lei>
        <title>Cincinnati Bell, Inc.</title>
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        <balance>15000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>Gogo Intermediate Holdings LLC</name>
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        <name>John Deere Capital Corp.</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp.</title>
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          <isin value="US24422EUR88"/>
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        <invCountry>US</invCountry>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US9128285V80"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2022-01-15</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>Sunoco LP</name>
        <lei>N/A</lei>
        <title>Sunoco LP</title>
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        <name>United States of America</name>
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        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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        <name>JPMorgan Prime Money Market Fund, IM Shares</name>
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        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2018-7FRB, Class A2</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>Peabody Energy Corp.</name>
        <lei>EJCO258LNNVSKAR2JX59</lei>
        <title>Peabody Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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          <isin value="US61744YAQ17"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-24</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-31</maturityDt>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
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        <title>TransDigm, Inc.</title>
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          <isin value="US893647BJ54"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Aflac, Inc.</name>
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        <title>Aflac, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Cheniere Energy Partners LP</name>
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        <title>Cheniere Energy Partners LP</title>
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          <isin value="US16411QAB77"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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        <valUSD>525076.16000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-02-25</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
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        <balance>2291.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Expedia Group, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-15</maturityDt>
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        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
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        <name>USA Compression Partners LP</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>Sirius XM Radio, Inc.</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
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        <name>Cheniere Energy Partners LP</name>
        <lei>5493005UEC8AZ34LDV29</lei>
        <title>Cheniere Energy Partners LP</title>
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        <name>Telesat Canada</name>
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        <title>Telesat Canada</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>B&amp;G Foods, Inc.</name>
        <lei>549300TRW1LZMDJZAQ78</lei>
        <title>B&amp;G Foods, Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Continental Resources, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Georgia Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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          <isin value="US06051GHQ55"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
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        <curCd>USD</curCd>
        <valUSD>124832.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-02</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>MPH Acquisition Holdings LLC</name>
        <lei>5493002WXOPRPTXWTU06</lei>
        <title>MPH Acquisition Holdings LLC</title>
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          <isin value="US553283AB86"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41571.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-01</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US9128284D91"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
        <cusip>64110LAV8</cusip>
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          <isin value="US64110LAV80"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50550.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>Bank of Nova Scotia (The)</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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          <isin value="US064159MK98"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125661.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3998, Class AZ</title>
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          <isin value="US3137ALQH55"/>
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        <curCd>USD</curCd>
        <valUSD>1518435.23000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2042-02-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Garda World Security Corp.</name>
        <lei>N/A</lei>
        <title>Garda World Security Corp.</title>
        <cusip>362438AA1</cusip>
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          <isin value="US362438AA12"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35087.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
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      <invstOrSec>
        <name>Parkland Fuel Corp.</name>
        <lei>549300Q72GWZCL8MQC95</lei>
        <title>Parkland Fuel Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <name>MPT Operating Partnership LP</name>
        <lei>N/A</lei>
        <title>MPT Operating Partnership LP</title>
        <cusip>55342UAJ3</cusip>
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          <isin value="US55342UAJ34"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
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        <balance>5000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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        <name>MPT Operating Partnership LP</name>
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        <title>MPT Operating Partnership LP</title>
        <cusip>55342UAG9</cusip>
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        <name>Panther BF Aggregator 2 LP</name>
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        <title>Panther BF Aggregator 2 LP</title>
        <cusip>69867DAA6</cusip>
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        <balance>35000.00000000</balance>
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        <valUSD>36958.25000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-05-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM LLC, Series 2019-2A, Class A1</title>
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        <balance>460722.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>465202.68000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-04-25</maturityDt>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
        <cusip>37045VAM2</cusip>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20018.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>FedEx Corp.</name>
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        <name>Carvana Co.</name>
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        <name>Verscend Escrow Corp.</name>
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        <name>United States of America</name>
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        <name>Patterson-UTI Energy, Inc.</name>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
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        <invCountry>US</invCountry>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Genesys Telecommunications Laboratories, Inc.</name>
        <lei>N/A</lei>
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          <isin value="US39479TAA43"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NGL Energy Partners LP</name>
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        <balance>15000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sirius XM Radio, Inc.</name>
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        <name>Altria Group, Inc.</name>
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        <title>Altria Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-02-14</maturityDt>
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          <annualizedRt>5.95000000</annualizedRt>
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        <name>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Icahn Enterprises LP</name>
        <lei>N/A</lei>
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        <balance>25000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
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          <isin value="US785592AS57"/>
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        <balance>55000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <name>Gulfport Energy Corp.</name>
        <lei>549300FJX18IDUFPHD40</lei>
        <title>Gulfport Energy Corp.</title>
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        <balance>40000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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          <maturityDt>2024-09-30</maturityDt>
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        <name>Bank of Montreal</name>
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        <title>Bank of Montreal</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Devon Energy Corp.</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>Devon Energy Corp.</title>
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        <name>Calpine Corp.</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
        <title>Calpine Corp.</title>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot, Inc. (The)</title>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027X100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Banc of America Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Banc of America Alternative Loan Trust, Series 2006-5, Class CB14</title>
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        <balance>245867.38630000</balance>
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        <name>Abbott Laboratories</name>
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        <name>Cigna Corp.</name>
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        <name>Boeing Co. (The)</name>
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        <name>Delta Air Lines, Inc.</name>
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        <name>Ford Motor Co.</name>
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        <name>CVS Health Corp.</name>
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        <name>Allied Universal Holdco LLC</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>Mosaic Co. (The)</name>
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        <name>Berry Global, Inc.</name>
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        <name>Hasbro, Inc.</name>
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        <name>Informatica LLC</name>
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        <name>Anheuser-Busch Cos. LLC</name>
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        <name>Boston Scientific Corp.</name>
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      <invstOrSec>
        <name>Cott Holdings, Inc.</name>
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      <invstOrSec>
        <name>Honeywell International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810RR14"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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        <name>Oasis Petroleum, Inc.</name>
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        <title>Oasis Petroleum, Inc.</title>
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          <isin value="US674215AG39"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-15</maturityDt>
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        <name>Flex Acquisition Co., Inc.</name>
        <lei>549300HHED2KGPBEDW39</lei>
        <title>Flex Acquisition Co., Inc.</title>
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          <isin value="US33936YAA38"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-15</maturityDt>
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          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
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          <isin value="US22822VAH42"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>3.65000000</annualizedRt>
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        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>20155.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Nutrien Ltd.</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>Nutrien Ltd.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>Avantor, Inc.</name>
        <lei>5493003VM0XB4U8YD238</lei>
        <title>Avantor, Inc.</title>
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        <name>Clear Channel Worldwide Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Clear Channel Worldwide Holdings, Inc.</title>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>Level 3 Financing, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <name>Aramark Services, Inc.</name>
        <lei>42YMHYH0XMHJEXDUB065</lei>
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        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Public Storage</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
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          <isin value="US5128071082"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>West Street Merger Sub, Inc.</name>
        <lei>N/A</lei>
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          <isin value="US95616AAA16"/>
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        <fairValLevel>2</fairValLevel>
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        <name>B&amp;G Foods, Inc.</name>
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        <title>B&amp;G Foods, Inc.</title>
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          <isin value="US05508WAB19"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Air Lease Corp.</name>
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          <isin value="US00912XBA19"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-01</maturityDt>
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        <name>United States of America</name>
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          <isin value="US9128282U35"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-31</maturityDt>
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        <name>Zoetis, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colfax Corp.</name>
        <lei>635400OP2DYYYMOIYL17</lei>
        <title>Colfax Corp.</title>
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          <isin value="US15723RAA23"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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        <name>United States of America</name>
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          <maturityDt>2025-02-28</maturityDt>
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        <name>Corning, Inc.</name>
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        <title>Corning, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Interpublic Group of Cos., Inc. (The)</name>
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        <name>Apple, Inc.</name>
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        <name>Colfax Corp.</name>
        <lei>635400OP2DYYYMOIYL17</lei>
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        <name>Microsoft Corp.</name>
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        <name>Caesars Resort Collection LLC</name>
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        <name>FNMA</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <title>General Motors Financial Co., Inc.</title>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>RALI Trust</name>
        <lei>N/A</lei>
        <title>RALI Trust, Series 2006-QS4, Class A10</title>
        <cusip>749228AK8</cusip>
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          <isin value="US749228AK87"/>
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        <balance>575542.19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>557154.94000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Performance Food Group, Inc.</name>
        <lei>549300OMUOGBYK0FFO76</lei>
        <title>Performance Food Group, Inc.</title>
        <cusip>69346VAA7</cusip>
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          <isin value="US69346VAA70"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Welltower, Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower, Inc.</title>
        <cusip>95040QAE4</cusip>
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          <isin value="US95040QAE44"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116821.05000000</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>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Parsley Energy LLC</name>
        <lei>N/A</lei>
        <title>Parsley Energy LLC</title>
        <cusip>701885AH8</cusip>
        <identifiers>
          <isin value="US701885AH87"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46518.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>Booking Holdings, Inc.</title>
        <cusip>09857L108</cusip>
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          <isin value="US09857L1089"/>
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        <balance>139.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>284779.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2006-OA5, Class 2A1</title>
        <cusip>126694M96</cusip>
        <identifiers>
          <isin value="US126694M969"/>
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        <balance>793029.97000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>705416.89000000</valUSD>
        <pctVal>1.133278718789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.02275000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Halliburton Co.</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co.</title>
        <cusip>406216101</cusip>
        <identifiers>
          <isin value="US4062161017"/>
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        <balance>7384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142142.00000000</valUSD>
        <pctVal>0.228356459747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cenovus Energy, Inc.</name>
        <lei>549300EIRQ0Z2B9C1W06</lei>
        <title>Cenovus Energy, Inc.</title>
        <cusip>15135UAR0</cusip>
        <identifiers>
          <isin value="US15135UAR05"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61600.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hess Infrastructure Partners LP</name>
        <lei>N/A</lei>
        <title>Hess Infrastructure Partners LP</title>
        <cusip>428102AA5</cusip>
        <identifiers>
          <isin value="US428102AA57"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78187.50000000</valUSD>
        <pctVal>0.125611154313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Refinitiv US Holdings, Inc.</name>
        <lei>549300NF240HXJO7N016</lei>
        <title>Refinitiv US Holdings, Inc.</title>
        <cusip>31740LAA1</cusip>
        <identifiers>
          <isin value="US31740LAA17"/>
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        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70606.25000000</valUSD>
        <pctVal>0.113431591549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JBS USA LUX SA</name>
        <lei>N/A</lei>
        <title>JBS USA LUX SA</title>
        <cusip>466112AP4</cusip>
        <identifiers>
          <isin value="US466112AP41"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10349.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAF8</cusip>
        <identifiers>
          <isin value="US05401AAF84"/>
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        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>119591.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>9128285W6</cusip>
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          <isin value="US9128285W63"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183674.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135106</cusip>
        <identifiers>
          <isin value="US0231351067"/>
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        <balance>445.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>790613.70000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cedar Fair LP</name>
        <lei>549300TUVLNQQ6BVKH61</lei>
        <title>Cedar Fair LP</title>
        <cusip>150190AC0</cusip>
        <identifiers>
          <isin value="US150190AC09"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31998.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967424</cusip>
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          <isin value="US1729674242"/>
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        <balance>6527.00000000</balance>
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        <valUSD>469030.22000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
        <cusip>125523AC4</cusip>
        <identifiers>
          <isin value="US125523AC41"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85312.44000000</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>2023-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.89087900</annualizedRt>
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      <invstOrSec>
        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource, Inc.</title>
        <cusip>12008RAJ6</cusip>
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          <isin value="US12008RAJ68"/>
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        <balance>39000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40560.00000000</valUSD>
        <pctVal>0.065161162832</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SunCoke Energy Partners LP</name>
        <lei>N/A</lei>
        <title>SunCoke Energy Partners LP</title>
        <cusip>86723CAF5</cusip>
        <identifiers>
          <isin value="US86723CAF59"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34000.00000000</valUSD>
        <pctVal>0.054622276536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-15</maturityDt>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912828R697"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
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          <isin value="US737446AL87"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pilgrim's Pride Corp.</name>
        <lei>549300ZSLGV64ZL3HD75</lei>
        <title>Pilgrim's Pride Corp.</title>
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          <isin value="US72147KAC27"/>
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        <curCd>USD</curCd>
        <valUSD>62100.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Constellation Brands, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>3.15000000</annualizedRt>
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      <invstOrSec>
        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
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          <isin value="US0463531089"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128285F3</cusip>
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          <isin value="US9128285F31"/>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502321.79000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BB2</cusip>
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          <isin value="US893647BB29"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15590.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Albertsons Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Albertsons Cos., Inc.</title>
        <cusip>013092AB7</cusip>
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          <isin value="US013092AB74"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53444.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JBS USA LUX SA</name>
        <lei>N/A</lei>
        <title>JBS USA LUX SA</title>
        <cusip>472141AA8</cusip>
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          <isin value="US472141AA82"/>
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        <balance>78000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86043.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VCV4</cusip>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90316.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.27200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140Q9CM3</cusip>
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          <isin value="US3140Q9CM39"/>
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        <balance>534939.37000000</balance>
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        <valUSD>551641.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Tempur Sealy International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
        <title>Tempur Sealy International, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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        <name>Westrock Co.</name>
        <lei>549300JEB576INN13W07</lei>
        <title>Westrock Co.</title>
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          <maturityDt>2025-03-15</maturityDt>
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        <name>United States of America</name>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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          <maturityDt>2026-03-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>1011778 BC ULC</name>
        <lei>N/A</lei>
        <title>1011778 BC ULC</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Domino's Pizza, Inc.</name>
        <lei>5299004V0Y8MI5D9FF45</lei>
        <title>Domino's Pizza, Inc.</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dollar General Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Monongahela Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DoubleLine Global Bond Fund</name>
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        <name>GFL Environmental, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Transfer Operating LP</name>
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        <name>Staples, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sprint Capital Corp.</name>
        <lei>549300L17W0GQBR1PO80</lei>
        <title>Sprint Capital Corp.</title>
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        <balance>50000.00000000</balance>
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        <valUSD>54296.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NXP BV</name>
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        <balance>60000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-18</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>QEP Resources, Inc.</name>
        <lei>Q6JQDZPXKEDQKVK58165</lei>
        <title>QEP Resources, Inc.</title>
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        <valUSD>31500.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc.</title>
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        <balance>40000.00000000</balance>
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        <valUSD>38950.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-10-15</maturityDt>
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        <name>AECOM</name>
        <lei>0EEB8GF0W0NPCIHZX097</lei>
        <title>AECOM</title>
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        <balance>45000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Golden Nugget, Inc.</name>
        <lei>N/A</lei>
        <title>Golden Nugget, Inc.</title>
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        <name>Wells Fargo Mortgage Backed Securities Trust</name>
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        <name>FNMA</name>
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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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      <invstOrSec>
        <name>Facebook, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Facebook, Inc., Class A</title>
        <cusip>30303M102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Transocean, Inc.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>Transocean, Inc.</title>
        <cusip>893830BK4</cusip>
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        <balance>25000.00000000</balance>
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        <valUSD>22062.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos., Inc.</title>
        <cusip>071734AC1</cusip>
        <identifiers>
          <isin value="US071734AC18"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27117.19000000</valUSD>
        <pctVal>0.043564783854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy, Inc.</name>
        <lei>N/A</lei>
        <title>NextEra Energy, Inc.</title>
        <cusip>65339F101</cusip>
        <identifiers>
          <isin value="US65339F1012"/>
        </identifiers>
        <balance>1536.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>366090.24000000</valUSD>
        <pctVal>0.588137715484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beacon Roofing Supply, Inc.</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>Beacon Roofing Supply, Inc.</title>
        <cusip>073685AD1</cusip>
        <identifiers>
          <isin value="US073685AD12"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58950.00000000</valUSD>
        <pctVal>0.094705388288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>Analog Devices, Inc.</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices, Inc.</title>
        <cusip>032654105</cusip>
        <identifiers>
          <isin value="US0326541051"/>
        </identifiers>
        <balance>2718.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>289820.34000000</valUSD>
        <pctVal>0.465607257567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dollar Tree, Inc.</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree, Inc.</title>
        <cusip>256746AG3</cusip>
        <identifiers>
          <isin value="US256746AG33"/>
        </identifiers>
        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118337.03000000</valUSD>
        <pctVal>0.190112881680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tempo Acquisition LLC</name>
        <lei>N/A</lei>
        <title>Tempo Acquisition LLC</title>
        <cusip>88023JAA4</cusip>
        <identifiers>
          <isin value="US88023JAA43"/>
        </identifiers>
        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56650.00000000</valUSD>
        <pctVal>0.091010351934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPBX0</cusip>
        <identifiers>
          <isin value="US1248EPBX05"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36519.00000000</valUSD>
        <pctVal>0.058669144612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
        <cusip>15135BAJ0</cusip>
        <identifiers>
          <isin value="US15135BAJ08"/>
        </identifiers>
        <balance>39000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40297.14000000</valUSD>
        <pctVal>0.064738868373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Splunk, Inc.</name>
        <lei>549300XGDSGBP6UEI867</lei>
        <title>Splunk, Inc.</title>
        <cusip>848637104</cusip>
        <identifiers>
          <isin value="US8486371045"/>
        </identifiers>
        <balance>1506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180659.76000000</valUSD>
        <pctVal>0.290236687343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-12-02</ncom:dateSigned>
      <ncom:nameOfApplicant>1290 Funds</ncom:nameOfApplicant>
      <ncom:signature>Brian Walsh</ncom:signature>
      <ncom:signerName>Brian Walsh</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
