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    <isConfidential>false</isConfidential>
    <filerInfo>

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          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
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        <classId>C000263343</classId>
      </seriesClassInfo>


    </filerInfo>
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      <regFileNumber>811-23161</regFileNumber>
      <regCik>0001635073</regCik>
      <regLei>549300UWO63YZ5POLH71</regLei>
      <regStreet1>333 W. Wacker Dr</regStreet1>
      <regCity>Chicago</regCity>
      <regStateConditional regCountry="US" regState="US-IL"/>
      <regZipOrPostalCode>60606</regZipOrPostalCode>
      <regPhone>312-917-7700</regPhone>
      <seriesName>Nuveen Securitized Income ETF</seriesName>
      <seriesId>S000094799</seriesId>
      <seriesLei>254900VY03VUUSY2TQ72</seriesLei>
      <repPdEnd>2026-07-31</repPdEnd>
      <repPdDate>2026-01-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>2760231.00</totLiabs>
      <netAssets>111330767.00</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
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      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
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      <isNonCashCollateral>N</isNonCashCollateral>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
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        <name>Apidos Clo LIV</name>
        <lei>254900SXYQWBYZA9L226</lei>
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          <isin value="US03771RAL50"/>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank</name>
        <lei>N/A</lei>
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          <isin value="US06540AAJ07"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NYCT Trust 2024-3ELV</name>
        <lei>N/A</lei>
        <title>NYCT Trust 2024-3ELV</title>
        <cusip>62956HAA4</cusip>
        <identifiers>
          <isin value="US62956HAA41"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Freddie Mac STACR REMIC Trust 2024-HQA1</name>
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      <invstOrSec>
        <name>Verus Securitization Trust 2025-1</name>
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        <title>Verus Securitization Trust 2025-1</title>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>BMO 2024-C10 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO 2024-C10 Mortgage Trust</title>
        <cusip>096920AJ2</cusip>
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          <isin value="US096920AJ20"/>
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        <balance>630000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ellington Financial Mortgage T</name>
        <lei>N/A</lei>
        <title>Ellington Financial Mortgage Trust 2020-1</title>
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        <identifiers>
          <isin value="US31574PAC95"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Hin Timeshare Trust</name>
        <lei>N/A</lei>
        <title>Hin Timeshare Trust</title>
        <cusip>433401AD8</cusip>
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          <isin value="US433401AD86"/>
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        <balance>464650.81000000</balance>
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      </invstOrSec>
      <invstOrSec>
        <name>Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mor</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>UBS Commercial Mortgage Trust 2018-C8</title>
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      <invstOrSec>
        <name>Madison Park Funding LI Ltd</name>
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        <title>Madison Park Funding LI Ltd</title>
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      </invstOrSec>
      <invstOrSec>
        <name>OHA Credit Funding 10-R Ltd</name>
        <lei>N/A</lei>
        <title>OHA Credit Funding 10-R Ltd</title>
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          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OCP CLO 2025-44 Ltd</name>
        <lei>N/A</lei>
        <title>OCP CLO 2025-44 Ltd</title>
        <cusip>67570UAE2</cusip>
        <identifiers>
          <isin value="US67570UAE29"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502454.50000000</valUSD>
        <pctVal>0.451316840384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.51802000</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>JPMDB Commercial Mortgage Secu</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust 2020-COR7</title>
        <cusip>46652JBA9</cusip>
        <identifiers>
          <isin value="US46652JBA97"/>
        </identifiers>
        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529341.28000000</valUSD>
        <pctVal>0.475467199466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.53610000</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>UNITK 2026-1A A2</name>
        <lei>N/A</lei>
        <title>UNITK 2026-1A A2</title>
        <cusip>49459AAA8</cusip>
        <identifiers>
          <isin value="US49459AAA88"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003125.00000000</valUSD>
        <pctVal>0.901031248621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21900000</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>Neuberger Berman Loan Advisers CLO 47 Ltd</name>
        <lei>549300JRWXK6DFJD7D06</lei>
        <title>Neuberger Berman Loan Advisers CLO 47 Ltd</title>
        <cusip>64135DAQ8</cusip>
        <identifiers>
          <isin value="US64135DAQ88"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501495.50000000</valUSD>
        <pctVal>0.450455443282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.00454000</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>CIP Commercial Mortgage Trust 2025-SBAY</name>
        <lei>N/A</lei>
        <title>CIP Commercial Mortgage Trust 2025-SBAY</title>
        <cusip>12576AAG1</cusip>
        <identifiers>
          <isin value="US12576AAG13"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003438.10000000</valUSD>
        <pctVal>0.901312482649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Debt Capital CLO 2025-I Ltd</name>
        <lei>N/A</lei>
        <title>Texas Debt Capital CLO 2025-I Ltd</title>
        <cusip>881936AC2</cusip>
        <identifiers>
          <isin value="US881936AC24"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501401.50000000</valUSD>
        <pctVal>0.450371010198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.21802000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust 2015-GC29</title>
        <cusip>17323VBE4</cusip>
        <identifiers>
          <isin value="US17323VBE48"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548218.20000000</valUSD>
        <pctVal>0.492422907676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.97380300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIMCO CLO 17 Ltd</name>
        <lei>N/A</lei>
        <title>AIMCO CLO 17 Ltd</title>
        <cusip>00889JAP9</cusip>
        <identifiers>
          <isin value="US00889JAP93"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502725.50000000</valUSD>
        <pctVal>0.451560259168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.56920000</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>BX Trust 2021-SDMF</name>
        <lei>N/A</lei>
        <title>BX Trust 2021-SDMF</title>
        <cusip>12434CAL8</cusip>
        <identifiers>
          <isin value="US12434CAL81"/>
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        <balance>881577.31000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>880703.40000000</valUSD>
        <pctVal>0.791069192939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.59848000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Houston Galleria Mall Trust 2025-HGLR</name>
        <lei>N/A</lei>
        <title>Houston Galleria Mall Trust</title>
        <cusip>44216XAA3</cusip>
        <identifiers>
          <isin value="US44216XAA37"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1041160.40000000</valUSD>
        <pctVal>0.935195569073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.46185000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OBX 2025-NQM13 Trust</name>
        <lei>254900FPAGVH6E25VL74</lei>
        <title>OBX 2025-NQM13 Trust</title>
        <cusip>67121UAD8</cusip>
        <identifiers>
          <isin value="US67121UAD81"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254349.10000000</valUSD>
        <pctVal>0.228462541715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.27900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae Pool</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418EU99</cusip>
        <identifiers>
          <isin value="US31418EU999"/>
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        <balance>761645.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>774514.88000000</valUSD>
        <pctVal>0.695688084139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flexential Issuer LLC</name>
        <lei>N/A</lei>
        <title>Flexential Issuer LLC</title>
        <cusip>33938MAK5</cusip>
        <identifiers>
          <isin value="US33938MAK53"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003020.70000000</valUSD>
        <pctVal>0.900937563827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.03000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM 2018-COR3 Mortgage Trust</title>
        <cusip>12595VAG2</cusip>
        <identifiers>
          <isin value="US12595VAG23"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1080471.88000000</valUSD>
        <pctVal>0.970506095588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.53786500</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BSST 2022-1700 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BSST 2022-1700 Mortgage Trust</title>
        <cusip>055742AA8</cusip>
        <identifiers>
          <isin value="US055742AA88"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>432163.00000000</valUSD>
        <pctVal>0.388179307163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.98100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Centersquare Issuer LLC</name>
        <lei>N/A</lei>
        <title>Centersquare Issuer LLC</title>
        <cusip>15201EAK0</cusip>
        <identifiers>
          <isin value="US15201EAK01"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>973982.20000000</valUSD>
        <pctVal>0.874854477558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Santander Bank Mortgage Credit-Linked Notes Series 2023-MTG1</name>
        <lei>N/A</lei>
        <title>Santander Bank Mortgage Credit-Linked Notes</title>
        <cusip>80290CBN3</cusip>
        <identifiers>
          <isin value="US80290CBN39"/>
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        <balance>433937.04000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>487899.93000000</valUSD>
        <pctVal>0.438243571967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.25603000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC Trust 2016-NXSR</title>
        <cusip>12594PBB6</cusip>
        <identifiers>
          <isin value="US12594PBB67"/>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Magnetite XXII Ltd</name>
        <lei>5493000081NBXWGGSW23</lei>
        <title>Magnetite XXII Ltd</title>
        <cusip>55954HAY8</cusip>
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          <isin value="US55954HAY80"/>
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        <curCd>USD</curCd>
        <valUSD>500885.00000000</valUSD>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBX 2025-NQM2 Trust</name>
        <lei>2549006BC0G3YEF5SL09</lei>
        <title>OBX 2025-NQM2 Trust</title>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>843746.64000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-11-25</maturityDt>
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      <invstOrSec>
        <name>KSL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>KSL Commercial Mortgage Trust</title>
        <cusip>48268VAA5</cusip>
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          <isin value="US48268VAA52"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1005361.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.27378000</annualizedRt>
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      <invstOrSec>
        <name>Bank</name>
        <lei>N/A</lei>
        <title>BANK 2019-BNK18</title>
        <cusip>065402BG3</cusip>
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          <isin value="US065402BG32"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>897894.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EQT Trust 2024-EXTR</name>
        <lei>N/A</lei>
        <title>EQT Trust 2024-EXTR</title>
        <cusip>29439DAA9</cusip>
        <identifiers>
          <isin value="US29439DAA90"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1021953.20000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-05</maturityDt>
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      <invstOrSec>
        <name>OHA Credit Funding 16-R Ltd</name>
        <lei>N/A</lei>
        <title>OHA Credit Funding 16-R Ltd</title>
        <cusip>67122KAJ6</cusip>
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          <isin value="US67122KAJ60"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501880.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.41763000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MFT Trust 2020-ABC</name>
        <lei>N/A</lei>
        <title>MFT Trust 2020-ABC</title>
        <cusip>55317BAG2</cusip>
        <identifiers>
          <isin value="US55317BAG23"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>566577.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.59259000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Taco Bell Funding, LLC</name>
        <lei>N/A</lei>
        <title>Taco Bell Funding LLC</title>
        <cusip>87342RAE4</cusip>
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          <isin value="US87342RAE45"/>
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        <balance>476250.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>477245.60000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.94000000</annualizedRt>
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      <invstOrSec>
        <name>NYCT Trust 2024-3ELV</name>
        <lei>N/A</lei>
        <title>NYCT Trust 2024-3ELV</title>
        <cusip>62956HAE6</cusip>
        <identifiers>
          <isin value="US62956HAE62"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1103749.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.51991000</annualizedRt>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM 2014-UBS3 Mortgage Trust</title>
        <cusip>12591YBH7</cusip>
        <identifiers>
          <isin value="US12591YBH71"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>466642.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.63004100</annualizedRt>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2018-B3 Mortgage Trust</title>
        <cusip>08161BBC6</cusip>
        <identifiers>
          <isin value="US08161BBC63"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>663144.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.55347200</annualizedRt>
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      <invstOrSec>
        <name>BOCA Commercial Mortgage Trust 2025-BOCA</name>
        <lei>N/A</lei>
        <title>BOCA Commercial Mortgage Trust 2025-BOCA</title>
        <cusip>05619RAC6</cusip>
        <identifiers>
          <isin value="US05619RAC60"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.83019000</annualizedRt>
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      <invstOrSec>
        <name>Summit Issuer LLC</name>
        <lei>N/A</lei>
        <title>Summit Issuer LLC</title>
        <cusip>86613XAN5</cusip>
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          <isin value="US86613XAN57"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1009474.10000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-20</maturityDt>
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          <annualizedRt>5.20800000</annualizedRt>
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      <invstOrSec>
        <name>Invesco CLO 2022-3 Ltd</name>
        <lei>254900JVSF4JLNP9YV71</lei>
        <title>Invesco CLO 2022-3 Ltd</title>
        <cusip>46146VAU3</cusip>
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          <isin value="US46146VAU35"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-22</maturityDt>
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          <annualizedRt>7.05735000</annualizedRt>
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      <invstOrSec>
        <name>JW Trust 2024-BERY</name>
        <lei>N/A</lei>
        <title>JW Trust 2024-BERY</title>
        <cusip>46676AAG8</cusip>
        <identifiers>
          <isin value="US46676AAG85"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1009021.20000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.15410000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgag</name>
        <lei>549300BSYX29G4VVM177</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2016-C36</title>
        <cusip>95000MBV2</cusip>
        <identifiers>
          <isin value="US95000MBV28"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>856417.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.09820300</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMDB Commercial Mortgage Secu</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust 2017-C7</title>
        <cusip>46648KAZ9</cusip>
        <identifiers>
          <isin value="US46648KAZ93"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594711.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2017-GS7</title>
        <cusip>36254CBB5</cusip>
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          <isin value="US36254CBB54"/>
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        <valUSD>451844.85000000</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>2050-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust 2025-10</name>
        <lei>529900PXR6MEGSRAOO62</lei>
        <title>Chase Home Lending Mortgage Trust 2025-10</title>
        <cusip>16160BCK1</cusip>
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          <isin value="US16160BCK17"/>
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        <balance>1194515.37000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1212357.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MetroNet Infrastructure Issuer LLC</name>
        <lei>5493000BIROCAEATAQ61</lei>
        <title>MetroNet Infrastructure Issuer LLC</title>
        <cusip>59170JAX6</cusip>
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          <isin value="US59170JAX63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1016198.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Maritime Partners, LLC</name>
        <lei>N/A</lei>
        <title>Maritime Partners, LLC</title>
        <cusip>553427AB1</cusip>
        <identifiers>
          <isin value="US553427AB18"/>
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        <balance>994760.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>993785.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.54700000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Angel Oak Mortgage Trust</title>
        <cusip>03466KAF3</cusip>
        <identifiers>
          <isin value="US03466KAF30"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1269302.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.76700000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>BX Trust 2025-LUNR</name>
        <lei>N/A</lei>
        <title>BX Trust 2025-LUNR</title>
        <cusip>05594CAD6</cusip>
        <identifiers>
          <isin value="US05594CAD65"/>
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        <balance>854431.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>858040.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.53019000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VITALITY RE XVII LTD</name>
        <lei>N/A</lei>
        <title>VITALITY RE XVII LTD</title>
        <cusip>92853KAA8</cusip>
        <identifiers>
          <isin value="US92853KAA88"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999900.00000000</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>2030-01-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITK 2026-1A A2</name>
        <lei>N/A</lei>
        <title>UNITK 2026-1A A2</title>
        <cusip>49459AAE0</cusip>
        <identifiers>
          <isin value="US49459AAE01"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510156.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.65300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELP Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>ELP Commercial Mortgage Trust</title>
        <cusip>290154AG8</cusip>
        <identifiers>
          <isin value="US290154AG86"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005495.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.61240500</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank</name>
        <lei>N/A</lei>
        <title>BANK 2017-BNK8</title>
        <cusip>06650AAK3</cusip>
        <identifiers>
          <isin value="US06650AAK34"/>
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        <balance>622000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522607.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.08940500</annualizedRt>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2024-R02</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2024-R02</title>
        <cusip>20754GAE0</cusip>
        <identifiers>
          <isin value="US20754GAE08"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1208677.68000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.15001000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2016-GS4</title>
        <cusip>36251XAY3</cusip>
        <identifiers>
          <isin value="US36251XAY31"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>932520.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.90804600</annualizedRt>
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      <invstOrSec>
        <name>Sotheby's Artfi Master Trust</name>
        <lei>9845002FA850DM72BA31</lei>
        <title>Sotheby's Artfi Master Trust</title>
        <cusip>83589DAE6</cusip>
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          <isin value="US83589DAE67"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-20</maturityDt>
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          <annualizedRt>6.80000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark 2019-B15 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B15 Mortgage Trust</title>
        <cusip>08160KAJ3</cusip>
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          <isin value="US08160KAJ34"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2072-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.56400000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2017-GS6</title>
        <cusip>36253PAH5</cusip>
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          <isin value="US36253PAH55"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>534151.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.86900000</annualizedRt>
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      <invstOrSec>
        <name>HERO Funding Trust</name>
        <lei>N/A</lei>
        <title>HERO FUNDING 2018-1</title>
        <cusip>42772GAB8</cusip>
        <identifiers>
          <isin value="US42772GAB86"/>
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        <balance>950221.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>929468.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.67000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMBB Commercial Mortgage Secu</name>
        <lei>N/A</lei>
        <title>JPMBB Commercial Mortgage Securities Trust 2014-C23</title>
        <cusip>46643ABL6</cusip>
        <identifiers>
          <isin value="US46643ABL61"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1071540.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.53623500</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2023-R08</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2023-R08</title>
        <cusip>20755CAB4</cusip>
        <identifiers>
          <isin value="US20755CAB46"/>
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        <balance>1175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1199040.74000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.19728000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493000ISU5NYXNHD479</lei>
        <title>Freddie Mac STACR REMIC Trust 2021-DNA5</title>
        <cusip>35564KJA8</cusip>
        <identifiers>
          <isin value="US35564KJA88"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1170274.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.74728000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Domino's Pizza Master Issuer LLC</name>
        <lei>N/A</lei>
        <title>Domino's Pizza Master Issuer LLC</title>
        <cusip>25755TAQ3</cusip>
        <identifiers>
          <isin value="US25755TAQ31"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005075.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.93000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barclays Commercial Mortgage S</name>
        <lei>N/A</lei>
        <title>BBCMS Trust 2015-SRCH</title>
        <cusip>05547HAJ0</cusip>
        <identifiers>
          <isin value="US05547HAJ05"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1462977.30000000</valUSD>
        <pctVal>1.314081757830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.49800000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Barclays Commercial Mortgage Trust 2019-C4</name>
        <lei>N/A</lei>
        <title>Barclays Commercial Mortgage Trust 2019-C4</title>
        <cusip>07335CAJ3</cusip>
        <identifiers>
          <isin value="US07335CAJ36"/>
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        <balance>825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>683600.20000000</valUSD>
        <pctVal>0.614026309546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.46900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust 2025-8</name>
        <lei>254900WZRTR935QJJ709</lei>
        <title>Angel Oak Mortgage Trust 2025-8</title>
        <cusip>03466UAD6</cusip>
        <identifiers>
          <isin value="US03466UAD63"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253990.80000000</valUSD>
        <pctVal>0.228140707950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.21700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VB-S1 Issuer LLC</name>
        <lei>N/A</lei>
        <title>VB-S1 Issuer LLC - VBTEL</title>
        <cusip>91823AAU5</cusip>
        <identifiers>
          <isin value="US91823AAU51"/>
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        <balance>751500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>733928.35000000</valUSD>
        <pctVal>0.659232276734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Elmwood CLO X Ltd</name>
        <lei>N/A</lei>
        <title>Elmwood CLO X Ltd</title>
        <cusip>29002VBA5</cusip>
        <identifiers>
          <isin value="US29002VBA52"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504714.00000000</valUSD>
        <pctVal>0.453346378184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.61763000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>3650R 2021-PF1 Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>3650R 2021-PF1 Commercial Mortgage Trust</title>
        <cusip>88575JAZ1</cusip>
        <identifiers>
          <isin value="US88575JAZ12"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503526.10000000</valUSD>
        <pctVal>0.452279377541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.29067700</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust</title>
        <cusip>05594MAJ1</cusip>
        <identifiers>
          <isin value="US05594MAJ18"/>
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        <balance>1125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1129220.44000000</valUSD>
        <pctVal>1.014293236657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.73019000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Willis Engine Structured Trust IX</name>
        <lei>N/A</lei>
        <title>Willis Engine Structured Trust IX</title>
        <cusip>970910AA3</cusip>
        <identifiers>
          <isin value="US970910AA35"/>
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        <balance>498595.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>498672.38000000</valUSD>
        <pctVal>0.447919648303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLP Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BLP Commercial Mortgage Trust</title>
        <cusip>05556WAE6</cusip>
        <identifiers>
          <isin value="US05556WAE66"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003437.20000000</valUSD>
        <pctVal>0.901311674247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.73019000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B14 Mortgage Trust</title>
        <cusip>08162YAJ1</cusip>
        <identifiers>
          <isin value="US08162YAJ10"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178549.48000000</valUSD>
        <pctVal>0.160377481276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.77820100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BX Commercial Mortgage Trust 2024-BRBK</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2024-BRBK</title>
        <cusip>05613NAJ6</cusip>
        <identifiers>
          <isin value="US05613NAJ63"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>806856.88000000</valUSD>
        <pctVal>0.724738454375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.55119000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Crescendo Royalty Funding LP</name>
        <lei>N/A</lei>
        <title>Crescendo Royalty Funding LP</title>
        <cusip>225638AA3</cusip>
        <identifiers>
          <isin value="US225638AA35"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>992296.60000000</valUSD>
        <pctVal>0.891304916636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.56700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B9 Mortgage Trust</title>
        <cusip>08160JAK3</cusip>
        <identifiers>
          <isin value="US08160JAK34"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176293.36000000</valUSD>
        <pctVal>0.158350979473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.97060000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RCKT Mortgage Trust 2022-3</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust 2022-3</title>
        <cusip>74938XBW8</cusip>
        <identifiers>
          <isin value="US74938XBW83"/>
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        <balance>733682.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489043.80000000</valUSD>
        <pctVal>0.439271023795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.18727900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAMLL Trust 2025-ASHF</name>
        <lei>N/A</lei>
        <title>BAMLL Trust 2025-ASHF</title>
        <cusip>05494CAC9</cusip>
        <identifiers>
          <isin value="US05494CAC91"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1002923.00000000</valUSD>
        <pctVal>0.900849807313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.03100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2023-R03</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2023-R03</title>
        <cusip>20753ACF9</cusip>
        <identifiers>
          <isin value="US20753ACF93"/>
        </identifiers>
        <balance>245000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271261.62000000</valUSD>
        <pctVal>0.243653778115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>10.04728000</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>Benchmark 2019-B13 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B13 Mortgage Trust</title>
        <cusip>08162DAJ7</cusip>
        <identifiers>
          <isin value="US08162DAJ72"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519884.34000000</valUSD>
        <pctVal>0.466972746177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.83900000</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>Morgan Stanley Capital I Trust 2015-420</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust 2015-420</title>
        <cusip>61765BAA0</cusip>
        <identifiers>
          <isin value="US61765BAA08"/>
        </identifiers>
        <balance>764933.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>780103.01000000</valUSD>
        <pctVal>0.700707478284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.98200000</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>Natixis Commercial Mortgage Se</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust 2019-MILE</title>
        <cusip>63875FAA4</cusip>
        <identifiers>
          <isin value="US63875FAA49"/>
        </identifiers>
        <balance>109264.91000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104614.46000000</valUSD>
        <pctVal>0.093967249861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.91500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Natixis Commercial Mortgage Se</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust 2019-MILE</title>
        <cusip>63875FAG1</cusip>
        <identifiers>
          <isin value="US63875FAG19"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217979.03000000</valUSD>
        <pctVal>0.195794061133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.96000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust 2025-AURA</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2025-AURA</title>
        <cusip>95004VAE7</cusip>
        <identifiers>
          <isin value="US95004VAE74"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>799066.24000000</valUSD>
        <pctVal>0.717740712232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.97227000</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>Sierra Receivables Funding Co</name>
        <lei>N/A</lei>
        <title>Sierra Receivables Funding Co</title>
        <cusip>82650FAB3</cusip>
        <identifiers>
          <isin value="US82650FAB31"/>
        </identifiers>
        <balance>49111.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49354.90000000</valUSD>
        <pctVal>0.044331770390</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.64000000</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>One Bryant Park Trust</name>
        <lei>N/A</lei>
        <title>One Bryant Park Trust 2019-OBP</title>
        <cusip>68236JAA9</cusip>
        <identifiers>
          <isin value="US68236JAA97"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>932437.60000000</valUSD>
        <pctVal>0.837538108400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.51641000</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>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM 2015-CCRE24 Mortgage Trust</title>
        <cusip>12593JBL9</cusip>
        <identifiers>
          <isin value="US12593JBL98"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196192.50000000</valUSD>
        <pctVal>0.176224870524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.46300000</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>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2021-B23 Mortgage Trust</title>
        <cusip>08162RAH0</cusip>
        <identifiers>
          <isin value="US08162RAH03"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>576619.20000000</valUSD>
        <pctVal>0.517933375955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.09500000</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>EFMT 2025-NQM5</name>
        <lei>N/A</lei>
        <title>EFMT 2025-NQM5</title>
        <cusip>28225KAH8</cusip>
        <identifiers>
          <isin value="US28225KAH86"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005190.60000000</valUSD>
        <pctVal>0.902886620730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.77000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLT 2025-11 Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>COLT 2025-11 Mortgage Loan Trust</title>
        <cusip>12676KAH6</cusip>
        <identifiers>
          <isin value="US12676KAH68"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1008443.10000000</valUSD>
        <pctVal>0.905808095259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.95200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2020-GC45</title>
        <cusip>36258YBL1</cusip>
        <identifiers>
          <isin value="US36258YBL11"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>465713.80000000</valUSD>
        <pctVal>0.418315450930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.17310000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2023-R07</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2023-R07</title>
        <cusip>20753BAB8</cusip>
        <identifiers>
          <isin value="US20753BAB80"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1242540.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.94728000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DB Master Finance LLC</name>
        <lei>549300F17UZJL70BPB08</lei>
        <title>DB Master Finance LLC</title>
        <cusip>233046AU5</cusip>
        <identifiers>
          <isin value="US233046AU56"/>
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        <balance>1225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1222353.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.89100000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QTS Issuer ABS II LLC</name>
        <lei>N/A</lei>
        <title>QTS Issuer ABS II LLC</title>
        <cusip>74690FAQ9</cusip>
        <identifiers>
          <isin value="US74690FAQ90"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005585.90000000</valUSD>
        <pctVal>0.903241688795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.36400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OCP CLO Ltd</name>
        <lei>N/A</lei>
        <title>OCP CLO Ltd</title>
        <cusip>67126BAE3</cusip>
        <identifiers>
          <isin value="US67126BAE39"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501485.50000000</valUSD>
        <pctVal>0.450446461039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62085000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DataBank Issuer</name>
        <lei>N/A</lei>
        <title>DataBank Issuer</title>
        <cusip>23802WAQ4</cusip>
        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>727336.75000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aimco CLO 14 Ltd</name>
        <lei>N/A</lei>
        <title>Aimco CLO 14 Ltd</title>
        <cusip>00144GAU5</cusip>
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          <isin value="US00144GAU58"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500739.50000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uniti Fiber Abs Issuer LLC</name>
        <lei>N/A</lei>
        <title>Uniti Fiber Abs Issuer LLC</title>
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          <isin value="US91326EAG08"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>MCR 2024-HF1 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>MCR 2024-HF1 Mortgage Trust</title>
        <cusip>55287FAE4</cusip>
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          <isin value="US55287FAE43"/>
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        <balance>676802.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680476.74000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-15</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK 2025-BNK51</name>
        <lei>N/A</lei>
        <title>BANK 2025-BNK51</title>
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          <isin value="US06541HAH84"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024719.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.54400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Chase Commercial Mor</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust 2020-NNN</title>
        <cusip>46652BBG3</cusip>
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          <isin value="US46652BBG32"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-16</maturityDt>
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          <annualizedRt>3.26670000</annualizedRt>
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      <invstOrSec>
        <name>WCORE Commercial Mortgage Trust 2024-CORE</name>
        <lei>N/A</lei>
        <title>WCORE Commercial Mortgage Trust 2024-CORE</title>
        <cusip>951913AE2</cusip>
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          <isin value="US951913AE20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
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          <annualizedRt>5.92138000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2018-GS9</title>
        <cusip>36255NAZ8</cusip>
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          <isin value="US36255NAZ87"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>471988.83000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.34335000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CIFC Funding 2021-V Ltd</name>
        <lei>N/A</lei>
        <title>CIFC Funding 2021-V Ltd</title>
        <cusip>12565EAM3</cusip>
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          <isin value="US12565EAM30"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>400460.40000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.47219000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust 2025-11</name>
        <lei>N/A</lei>
        <title>Angel Oak Mortgage Trust 2025-11</title>
        <cusip>03466FAF4</cusip>
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          <isin value="US03466FAF45"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1264307.25000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.62100000</annualizedRt>
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      <invstOrSec>
        <name>Cantor Commercial Real Estate Lending 2019-CF1</name>
        <lei>N/A</lei>
        <title>Cantor Commercial Real Estate Lending 2019-CF1</title>
        <cusip>12529MAL2</cusip>
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          <isin value="US12529MAL28"/>
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        <balance>600000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-05-15</maturityDt>
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      <invstOrSec>
        <name>Benchmark 2019-B12 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B12 Mortgage Trust</title>
        <cusip>08162FAH6</cusip>
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          <isin value="US08162FAH64"/>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust 2025-AGLN</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2025-AGLN</title>
        <cusip>94990HAE7</cusip>
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        <balance>1100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-15</maturityDt>
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      <invstOrSec>
        <name>Planet Fitness Master Issuer LLC</name>
        <lei>549300NX9W3U2DO53T22</lei>
        <title>Planet Fitness Master Issuer LLC</title>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-06</maturityDt>
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      <invstOrSec>
        <name>Benefit Street Partners CLO IV Ltd</name>
        <lei>5493002BNZCV0YE1MG83</lei>
        <title>Benefit Street Partners CLO IV Ltd</title>
        <cusip>08180FCL3</cusip>
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          <isin value="US08180FCL31"/>
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        <balance>500000.00000000</balance>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARDN 2025-ARCP Mortgage Trust</name>
        <lei>N/A</lei>
        <title>ARDN 2025-ARCP Mortgage Trust</title>
        <cusip>039961AL1</cusip>
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          <isin value="US039961AL18"/>
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        <balance>500000.00000000</balance>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2023-R06</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust</title>
        <cusip>20754EAB1</cusip>
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          <isin value="US20754EAB11"/>
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        <balance>1200000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-25</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418EQ86</cusip>
        <identifiers>
          <isin value="US31418EQ864"/>
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        <balance>792653.23000000</balance>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2053-04-01</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>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2021-B24 Mortgage Trust</title>
        <cusip>08163CBC2</cusip>
        <identifiers>
          <isin value="US08163CBC29"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450303.65000000</valUSD>
        <pctVal>0.404473679769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.58430000</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>Hertz Vehicle Financing III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
        <title>Hertz Vehicle Financing III LLC</title>
        <cusip>42806MDR7</cusip>
        <identifiers>
          <isin value="US42806MDR79"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>999500.20000000</valUSD>
        <pctVal>0.897775365187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.14000000</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>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2017-GS8</title>
        <cusip>36254KAU6</cusip>
        <identifiers>
          <isin value="US36254KAU60"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>462859.30000000</valUSD>
        <pctVal>0.415751469672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.31424700</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>LSTR Trust</name>
        <lei>N/A</lei>
        <title>LSTR Trust</title>
        <cusip>50220QAE1</cusip>
        <identifiers>
          <isin value="US50220QAE17"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003211.82000000</valUSD>
        <pctVal>0.901109232455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.87000000</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>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2022-LP2</title>
        <cusip>05610HAE3</cusip>
        <identifiers>
          <isin value="US05610HAE36"/>
        </identifiers>
        <balance>438900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>439096.54000000</valUSD>
        <pctVal>0.394407181260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.24189000</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>Wells Fargo Commercial Mortgag</name>
        <lei>549300BSYX29G4VVM177</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2016-C36</title>
        <cusip>95000MBU4</cusip>
        <identifiers>
          <isin value="US95000MBU45"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>570764.58000000</valUSD>
        <pctVal>0.512674614017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.67100000</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>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust</title>
        <cusip>46594JDP5</cusip>
        <identifiers>
          <isin value="US46594JDP57"/>
        </identifiers>
        <balance>1241606.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1256501.85000000</valUSD>
        <pctVal>1.128620491763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.40583300</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>Orchard Park Clo Ltd</name>
        <lei>3912000K0W3TWP1KMO81</lei>
        <title>Orchard Park Clo Ltd</title>
        <cusip>68563JAC8</cusip>
        <identifiers>
          <isin value="US68563JAC80"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502252.50000000</valUSD>
        <pctVal>0.451135399076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.36763000</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>Barclays Commercial Mortgage S</name>
        <lei>N/A</lei>
        <title>BBCMS Trust 2015-SRCH</title>
        <cusip>05547HAN1</cusip>
        <identifiers>
          <isin value="US05547HAN17"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96120.72000000</valUSD>
        <pctVal>0.086337966215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.95655000</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>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust</title>
        <cusip>05594LAE4</cusip>
        <identifiers>
          <isin value="US05594LAE48"/>
        </identifiers>
        <balance>1200416.67000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1205546.05000000</valUSD>
        <pctVal>1.082850754095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.43019000</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>ILPT Commercial Mortgage Trust 2025-LPF2</name>
        <lei>N/A</lei>
        <title>ILPT Commercial Mortgage Trust 2025-LPF2</title>
        <cusip>451955AJ7</cusip>
        <identifiers>
          <isin value="US451955AJ74"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>779380.80000000</valUSD>
        <pctVal>0.700058771714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.19900000</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>OCP CLO 2025-40 Ltd</name>
        <lei>N/A</lei>
        <title>OCP CLO 2025-40 Ltd</title>
        <cusip>67570FAE5</cusip>
        <identifiers>
          <isin value="US67570FAE51"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500615.00000000</valUSD>
        <pctVal>0.449664556788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.59363000</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>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2018-B2 Mortgage Trust</title>
        <cusip>08161CAL5</cusip>
        <identifiers>
          <isin value="US08161CAL54"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391953.95000000</valUSD>
        <pctVal>0.352062561466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.29174800</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>MTN Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>MTN Commercial Mortgage Trust 2022-LPFL</title>
        <cusip>62475WAE5</cusip>
        <identifiers>
          <isin value="US62475WAE57"/>
        </identifiers>
        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901515.78000000</valUSD>
        <pctVal>0.809763378348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.67295000</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>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2018-GS10</title>
        <cusip>36250SAK5</cusip>
        <identifiers>
          <isin value="US36250SAK50"/>
        </identifiers>
        <balance>401000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387183.63000000</valUSD>
        <pctVal>0.347777744134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50676200</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>CARLYLE US CLO 2021-8 LTD</name>
        <lei>N/A</lei>
        <title>CARLYLE US CLO 2021-8 LTD</title>
        <cusip>143120AU7</cusip>
        <identifiers>
          <isin value="US143120AU72"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502009.50000000</valUSD>
        <pctVal>0.450917130571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.57219000</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>HIH Trust 2024-61P</name>
        <lei>N/A</lei>
        <title>HIH Trust 2024-61P</title>
        <cusip>40444VAC5</cusip>
        <identifiers>
          <isin value="US40444VAC54"/>
        </identifiers>
        <balance>84877.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85247.86000000</valUSD>
        <pctVal>0.076571699178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.02119000</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>SHR Trust 2024-LXRY</name>
        <lei>N/A</lei>
        <title>SHR Trust 2024-LXRY</title>
        <cusip>784234AG1</cusip>
        <identifiers>
          <isin value="US784234AG17"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1012604.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.28019000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Benchmark 2019-B10 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B10 Mortgage Trust</title>
        <cusip>08162VAH1</cusip>
        <identifiers>
          <isin value="US08162VAH15"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>679407.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.18000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust 2017-P8</title>
        <cusip>17326DAF9</cusip>
        <identifiers>
          <isin value="US17326DAF96"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1419529.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.78900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust 2016-P3</title>
        <cusip>29429CAG0</cusip>
        <identifiers>
          <isin value="US29429CAG06"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>966109.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.27100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX Trust 2024-FNX</name>
        <lei>N/A</lei>
        <title>BX Trust 2024-FNX</title>
        <cusip>05593TAJ7</cusip>
        <identifiers>
          <isin value="US05593TAJ79"/>
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        <balance>690203.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>693850.10000000</valUSD>
        <pctVal>0.623233018775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.60297000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lmdv Issuer Co LLC</name>
        <lei>254900A6HRP8XHJJGM20</lei>
        <title>Lmdv Issuer Co LLC</title>
        <cusip>538908AA2</cusip>
        <identifiers>
          <isin value="US538908AA26"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1007667.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.31000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NMEF Funding LLC</name>
        <lei>N/A</lei>
        <title>NMEF Funding LLC</title>
        <cusip>62919WAE9</cusip>
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          <isin value="US62919WAE93"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1008472.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.47000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cajun Global LLC</name>
        <lei>N/A</lei>
        <title>Cajun Global LLC</title>
        <cusip>12803VAC9</cusip>
        <identifiers>
          <isin value="US12803VAC90"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502121.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.91200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cajun Global LLC</name>
        <lei>N/A</lei>
        <title>Cajun Global LLC</title>
        <cusip>12803VAD7</cusip>
        <identifiers>
          <isin value="US12803VAD73"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>248469.23000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.72000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Loan Advisers Clo 42 Ltd</name>
        <lei>549300LGCRX4YI1JNS93</lei>
        <title>Neuberger Berman Loan Advisers Clo 42 Ltd</title>
        <cusip>64133WAU9</cusip>
        <identifiers>
          <isin value="US64133WAU99"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500744.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.17113000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Verus Securitization Trust</name>
        <lei>N/A</lei>
        <title>Verus Securitization Trust</title>
        <cusip>924935AK5</cusip>
        <identifiers>
          <isin value="US924935AK56"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1007389.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.79600000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust 2022-NLP</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Chase Commercial Mortgage Securities Trust 2022-NLP</title>
        <cusip>466317AL8</cusip>
        <identifiers>
          <isin value="US466317AL89"/>
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        <balance>623443.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>616144.53000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.44857000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM 2019-GC44 Mortgage Trust</title>
        <cusip>12655TBR9</cusip>
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          <isin value="US12655TBR95"/>
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        <balance>500000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.51442500</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH</title>
        <cusip>46654EAA9</cusip>
        <identifiers>
          <isin value="US46654EAA91"/>
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        <balance>600000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
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          <annualizedRt>5.27548000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2023-R01</title>
        <cusip>207932AF1</cusip>
        <identifiers>
          <isin value="US207932AF15"/>
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        <balance>1190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1270339.88000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.79728000</annualizedRt>
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      <invstOrSec>
        <name>JPMCC Commercial Mortgage Securities Trust 2019-COR4</name>
        <lei>N/A</lei>
        <title>JPMCC Commercial Mortgage Securities Trust 2019-COR4</title>
        <cusip>48128YBA8</cusip>
        <identifiers>
          <isin value="US48128YBA82"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.29000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lmrk Issuer Co 2 LLC</name>
        <lei>549300TATF7H68SRLE80</lei>
        <title>Lmrk Issuer Co 2 LLC</title>
        <cusip>50209AAH4</cusip>
        <identifiers>
          <isin value="US50209AAH41"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1010951.60000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
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          <annualizedRt>5.52000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Loan Advisers CLO 36R Ltd</name>
        <lei>254900RBT2LAQQHMHG60</lei>
        <title>Neuberger Berman Loan Advisers CLO 36R Ltd</title>
        <cusip>64090EAC0</cusip>
        <identifiers>
          <isin value="US64090EAC03"/>
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        <balance>500000.00000000</balance>
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        <valUSD>503657.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.31763000</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>BX Trust 2025-OMG</name>
        <lei>N/A</lei>
        <title>BX Trust 2025-OMG</title>
        <cusip>05619HAG9</cusip>
        <identifiers>
          <isin value="US05619HAG92"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>801999.76000000</valUSD>
        <pctVal>0.720375671174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.08100000</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>Sequoia Mortgage Trust 2021-9</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2021-9</title>
        <cusip>81748CCF5</cusip>
        <identifiers>
          <isin value="US81748CCF59"/>
        </identifiers>
        <balance>896938.47000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>731374.03000000</valUSD>
        <pctVal>0.656937924446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.85621700</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-01-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Nushares ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Gina Spunder</ncom:signature>
      <ncom:signerName>Gina Spunder</ncom:signerName>
      <ncom:title>Director, Fund Financial Reporting</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
