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      <regStreet1>4500 Main St</regStreet1>
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      <seriesName>American Century Short Duration Strategic Income ETF</seriesName>
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      <totLiabs>1220133.910000000000</totLiabs>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Radian Mortgage Capital Trust 2025-J2</name>
        <lei>N/A</lei>
        <title>Radian Mortgage Capital Trust 2025-J2 5.50</title>
        <cusip>75023XAX0</cusip>
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          <ticker value="RMCT"/>
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        <valUSD>355112.9800000000</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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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>RATE Mortgage Trust 2024-J3</name>
        <lei>N/A</lei>
        <title>RATE Mortgage Trust 2024-J3 5.50</title>
        <cusip>75409UAH5</cusip>
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          <isin value="US75409UAH59"/>
          <ticker value="RATE"/>
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        <curCd>USD</curCd>
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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>Variable</couponKind>
          <annualizedRt>5.500000000000000</annualizedRt>
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      <invstOrSec>
        <name>RATE Mortgage Trust 2025-J2</name>
        <lei>N/A</lei>
        <title>RATE Mortgage Trust 2025-J2 5.50</title>
        <cusip>75409YAE4</cusip>
        <identifiers>
          <isin value="US75409YAE41"/>
          <ticker value="RATE"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ready Capital Corp</name>
        <lei>N/A</lei>
        <title>Ready Capital Mortgage Financing 2023-FL11 LLC 6.70</title>
        <cusip>75575RAA5</cusip>
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          <isin value="US75575RAA59"/>
          <ticker value="RCMT"/>
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        <balance>515.3100000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust 2025-2</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust 2025-2 6.00</title>
        <cusip>17292BAK2</cusip>
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          <isin value="US17292BAK26"/>
          <ticker value="CMLTI"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc (pfd) 6.25% 02/15/2174 Perpetual</title>
        <cusip>172967KM2</cusip>
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          <isin value="US172967KM26"/>
          <ticker value="C"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc (pfd) 4.00% 03/10/2174 Perpetual</title>
        <cusip>172967MU2</cusip>
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          <isin value="US172967MU24"/>
          <ticker value="C"/>
          <other otherDesc="SEDOL" value="BM9GMM8"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc (pfd) 3.88% 05/18/2174 Perpetual</title>
        <cusip>172967MV0</cusip>
        <identifiers>
          <isin value="US172967MV07"/>
          <ticker value="C"/>
          <other otherDesc="SEDOL" value="BMC9RY1"/>
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        <balance>255000.0000000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sixth Street CLO VIII Ltd</name>
        <lei>N/A</lei>
        <title>SIXST 2017-8A BR2 0.00</title>
        <cusip>83012VAE3</cusip>
        <identifiers>
          <isin value="US83012VAE39"/>
          <ticker value="SIXST"/>
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        <balance>325000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>325510.3800000000</valUSD>
        <pctVal>0.3821518733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Delta Air Lines Inc / SkyMiles IP Ltd</name>
        <lei>N/A</lei>
        <title>Delta Air Lines Inc / SkyMiles IP Ltd 4.50 10/20/2025</title>
        <cusip>830867AA5</cusip>
        <identifiers>
          <isin value="US830867AA59"/>
          <ticker value="DAL"/>
          <other otherDesc="SEDOL" value="BMT6SM0"/>
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        <balance>7375.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7366.6800000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA (pfd) 9.38% 05/22/2174 Perpetual</title>
        <cusip>83370RAC2</cusip>
        <identifiers>
          <isin value="US83370RAC25"/>
          <ticker value="SOCGEN"/>
          <other otherDesc="SEDOL" value="BP0XZK8"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern Co/The</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The 4.00 01/15/2051</title>
        <cusip>842587DF1</cusip>
        <identifiers>
          <isin value="US842587DF14"/>
          <ticker value="SO"/>
          <other otherDesc="SEDOL" value="BMG6YH0"/>
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        <balance>379000.0000000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Spirit AeroSystems Inc</name>
        <lei>ZD2NBKV6GCC3UMGBM518</lei>
        <title>Spirit AeroSystems Inc 4.60 06/15/2028</title>
        <cusip>85205TAK6</cusip>
        <identifiers>
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          <ticker value="SPR"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sprint Capital Corp</name>
        <lei>549300L17W0GQBR1PO80</lei>
        <title>Sprint Capital Corp 6.88 11/15/2028</title>
        <cusip>852060AD4</cusip>
        <identifiers>
          <isin value="US852060AD48"/>
          <ticker value="S"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Standard Industries Inc/NY</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries Inc/NY 4.75 01/15/2028</title>
        <cusip>853496AD9</cusip>
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          <isin value="US853496AD99"/>
          <ticker value="BMCAUS"/>
          <other otherDesc="SEDOL" value="BDZ79F4"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Synopsys Inc</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys Inc 4.65 04/01/2028</title>
        <cusip>871607AB3</cusip>
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          <isin value="US871607AB32"/>
          <ticker value="SNPS"/>
          <other otherDesc="SEDOL" value="BTXWBN5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THPT 2023-THL Mortgage Trust</name>
        <lei>N/A</lei>
        <title>THPT 2023-THL Mortgage Trust 7.92</title>
        <cusip>87252LAE5</cusip>
        <identifiers>
          <isin value="US87252LAE56"/>
          <ticker value="THPT"/>
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        <balance>300000.0000000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>TRTX 2021-FL4 Issuer Ltd</name>
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        <name>Taylor Morrison Communities Inc</name>
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        <name>TopBuild Corp</name>
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        <name>Toronto-Dominion Bank/The</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Towd Point Mortgage Trust 2024-CES3</name>
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          <isin value="US89183EAA91"/>
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        <name>TransDigm Inc</name>
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        <name>TransDigm Inc</name>
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        <name>Triangle Re 2023-1 Ltd</name>
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        <name>Truist Bank</name>
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        <name>Trust Fibra Uno</name>
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        <name>UBS Group AG</name>
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        <name>UBS Commercial Mortgage Trust 2018-C14</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>Vornado Realty LP</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.150000000000000</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>WB Commercial Mortgage Trust 2024-HQ</name>
        <lei>N/A</lei>
        <title>WB Commercial Mortgage Trust 2024-HQ 6.13</title>
        <cusip>92943PAA9</cusip>
        <identifiers>
          <isin value="US92943PAA93"/>
          <ticker value="WB"/>
          <other otherDesc="SEDOL" value="BSLJM27"/>
        </identifiers>
        <balance>209000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209651.4700000000</valUSD>
        <pctVal>0.2461325565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.134383000000000</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 &amp; Co</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co 4.90 01/24/2028</title>
        <cusip>95000U3R2</cusip>
        <identifiers>
          <isin value="US95000U3R27"/>
          <ticker value="WFC"/>
          <other otherDesc="SEDOL" value="BR4SJJ0"/>
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        <balance>350000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353139.7800000000</valUSD>
        <pctVal>0.4145890170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.900000000000000</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 &amp; Co</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co 4.97 04/23/2029</title>
        <cusip>95000U3T8</cusip>
        <identifiers>
          <isin value="US95000U3T82"/>
          <ticker value="WFC"/>
          <other otherDesc="SEDOL" value="BV8FSR6"/>
        </identifiers>
        <balance>195000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198724.3400000000</valUSD>
        <pctVal>0.2333040157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.970000000000000</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 2017-C41</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2017-C41 2.60</title>
        <cusip>95001AAD8</cusip>
        <identifiers>
          <isin value="US95001AAD81"/>
          <ticker value="WFCM"/>
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        <balance>20000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16699.8600000000</valUSD>
        <pctVal>0.0196057735</pctVal>
        <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>2.600000000000000</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>Western Digital Corp</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp 2.85 02/01/2029</title>
        <cusip>958102AQ8</cusip>
        <identifiers>
          <isin value="US958102AQ89"/>
          <ticker value="WDC"/>
          <other otherDesc="SEDOL" value="BLDBDX0"/>
        </identifiers>
        <balance>319000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299941.8600000000</valUSD>
        <pctVal>0.3521342198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.850000000000000</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>Wireless PropCo Funding LLC</name>
        <lei>N/A</lei>
        <title>Wireless PropCo Funding LLC 4.07</title>
        <cusip>97655EAC7</cusip>
        <identifiers>
          <isin value="US97655EAC75"/>
          <ticker value="SYMTOW"/>
        </identifiers>
        <balance>114735.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111259.5000000000</valUSD>
        <pctVal>0.1306195715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.070000000000000</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>Zions Bancorp NA</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>Zions Bancorp NA 4.70 08/18/2028</title>
        <cusip>98971DAD2</cusip>
        <identifiers>
          <isin value="US98971DAD21"/>
          <ticker value="ZION"/>
          <other otherDesc="SEDOL" value="BTXP101"/>
        </identifiers>
        <balance>422000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>423669.5600000000</valUSD>
        <pctVal>0.4973915610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.704000000000001</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>Svenska Handelsbanken AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
        <title>Svenska Handelsbanken AB (pfd) 4.38% 03/01/2174 Perpetual</title>
        <cusip>W9T10ZZR9</cusip>
        <identifiers>
          <isin value="XS2233263404"/>
          <ticker value="SHBASS"/>
          <other otherDesc="SEDOL" value="BLF80Q1"/>
        </identifiers>
        <balance>200000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>196448.7200000000</valUSD>
        <pctVal>0.2306324190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>Danske Bank A/S (pfd) 4.38% 11/18/2173 Perpetual</title>
        <cusip>K2227DL59</cusip>
        <identifiers>
          <isin value="XS2343014119"/>
          <ticker value="DANBNK"/>
          <other otherDesc="SEDOL" value="BMBVPS8"/>
        </identifiers>
        <balance>400000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>396384.2600000000</valUSD>
        <pctVal>0.4653583935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOT 10 Year US Treasury Note</name>
        <lei>N/A</lei>
        <title>US 10YR NOTE (CBT)Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TYZ5"/>
        </identifiers>
        <balance>-6.0000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2496.0700000000</valUSD>
        <pctVal>-0.0029304068</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>US 10YR NOTE (CBT)</issuerName>
                <issueTitle>US 10YR NOTE (CBT)Dec25</issueTitle>
                <identifiers>
                  <ticker value="TYZ5"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-19</expDate>
            <notionalAmt>-672503.9300000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-2496.0700000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOT 10 Year Ultra US Treasury Note</name>
        <lei>N/A</lei>
        <title>US 10yr Ultra Fut Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="UXYZ5"/>
        </identifiers>
        <balance>-4.0000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1058.7200000000</valUSD>
        <pctVal>-0.0012429460</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>US 10yr Ultra Fut</issuerName>
                <issueTitle>US 10yr Ultra Fut Dec25</issueTitle>
                <identifiers>
                  <ticker value="UXYZ5"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-19</expDate>
            <notionalAmt>-456566.2800000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1058.7200000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOT 2 Year US Treasury Note</name>
        <lei>N/A</lei>
        <title>US 2YR NOTE (CBT) Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TUZ5"/>
        </identifiers>
        <balance>81.0000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>9592.0500000000</valUSD>
        <pctVal>0.0112611459</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>US 2YR NOTE (CBT)</issuerName>
                <issueTitle>US 2YR NOTE (CBT) Dec25</issueTitle>
                <identifiers>
                  <ticker value="TUZ5"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-31</expDate>
            <notionalAmt>16882071.9700000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>9592.0500000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Skandinaviska Enskilda Banken AB</name>
        <lei>F3JS33DEI6XQ4ZBPTN86</lei>
        <title>Skandinaviska Enskilda Banken AB (pfd) 6.88% 12/30/2173 Perpetual</title>
        <cusip>W8T54FK56</cusip>
        <identifiers>
          <isin value="XS2479344561"/>
          <ticker value="SEB"/>
          <other otherDesc="SEDOL" value="BN2SXV4"/>
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        <balance>400000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>409454.6300000000</valUSD>
        <pctVal>0.4807031158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACM Auto Trust 2023-2</name>
        <lei>N/A</lei>
        <title>ACM Auto Trust 2023-2 9.85</title>
        <cusip>00161AAB8</cusip>
        <identifiers>
          <isin value="US00161AAB89"/>
          <ticker value="ACMAT"/>
        </identifiers>
        <balance>279580.4300000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284155.6000000000</valUSD>
        <pctVal>0.3336010202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.850000000000000</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>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc 7.30 08/15/2026</title>
        <cusip>00206RGJ5</cusip>
        <identifiers>
          <isin value="US00206RGJ59"/>
          <ticker value="T"/>
          <other otherDesc="SEDOL" value="BG6F431"/>
        </identifiers>
        <balance>45000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45873.3200000000</valUSD>
        <pctVal>0.0538556564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.300000000000000</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>American Airlines Inc/AAdvantage Loyalty IP Ltd</name>
        <lei>N/A</lei>
        <title>American Airlines Inc/AAdvantage Loyalty IP Ltd 5.50 04/20/2026</title>
        <cusip>00253XAA9</cusip>
        <identifiers>
          <isin value="US00253XAA90"/>
          <ticker value="AAL"/>
          <other otherDesc="SEDOL" value="BM8H716"/>
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        <balance>309547.2500000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310356.4100000000</valUSD>
        <pctVal>0.3643609874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000000</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>Advance Auto Parts Inc</name>
        <lei>529900UCNQ5H9FSL0Y70</lei>
        <title>Advance Auto Parts Inc 7.00 08/01/2030</title>
        <cusip>00751YAK2</cusip>
        <identifiers>
          <isin value="US00751YAK29"/>
          <ticker value="AAP"/>
          <other otherDesc="SEDOL" value="BPK4QX1"/>
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        <balance>177000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181748.5200000000</valUSD>
        <pctVal>0.2133742629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000000</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>Air Lease Corp</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Air Lease Corp (pfd) 4.65% 06/15/2174 Perpetual</title>
        <cusip>00912XBJ2</cusip>
        <identifiers>
          <isin value="US00912XBJ28"/>
          <ticker value="AL"/>
          <other otherDesc="SEDOL" value="BMZ9QP2"/>
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        <balance>205000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203263.6100000000</valUSD>
        <pctVal>0.2386331562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aircastle Ltd</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd (pfd) 5.25% 09/15/2173 Perpetual</title>
        <cusip>00928QAW1</cusip>
        <identifiers>
          <isin value="US00928QAW15"/>
          <ticker value="AYR"/>
          <other otherDesc="SEDOL" value="BMJ1C23"/>
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        <balance>288000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>286876.8300000000</valUSD>
        <pctVal>0.3367957667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aircastle Ltd</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd 6.50 07/18/2028</title>
        <cusip>00928QAX9</cusip>
        <identifiers>
          <isin value="US00928QAX97"/>
          <ticker value="AYR"/>
          <other otherDesc="SEDOL" value="BQ9CJW3"/>
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        <balance>95000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99996.6500000000</valUSD>
        <pctVal>0.1173968926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000000</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>Aircastle Ltd</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd 5.95 02/15/2029</title>
        <cusip>00928QAY7</cusip>
        <identifiers>
          <isin value="US00928QAY70"/>
          <ticker value="AYR"/>
          <other otherDesc="SEDOL" value="BPJNMF3"/>
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        <balance>210000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219204.8200000000</valUSD>
        <pctVal>0.2573482683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000000</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>Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC</name>
        <lei>N/A</lei>
        <title>Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC 4.63 01/15/2027</title>
        <cusip>013092AC5</cusip>
        <identifiers>
          <isin value="US013092AC57"/>
          <ticker value="ACI"/>
          <other otherDesc="SEDOL" value="BK0SQV6"/>
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        <balance>455000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452600.8800000000</valUSD>
        <pctVal>0.5313571695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000000</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>Aligned Data Centers Issuer LLC</name>
        <lei>N/A</lei>
        <title>Aligned Data Centers Issuer LLC 6.35</title>
        <cusip>01627AAC2</cusip>
        <identifiers>
          <isin value="US01627AAC27"/>
          <ticker value="ADC"/>
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        <balance>250000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250276.6500000000</valUSD>
        <pctVal>0.2938268532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.350000000000001</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>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>Allianz SE (pfd) 3.50% 04/30/2174 Perpetual</title>
        <cusip>018820AA8</cusip>
        <identifiers>
          <isin value="US018820AA81"/>
          <ticker value="ALVGR"/>
          <other otherDesc="SEDOL" value="BN4L2V4"/>
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        <balance>400000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>397383.1600000000</valUSD>
        <pctVal>0.4665311104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ally Financial Inc</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial Inc (pfd) 4.70% 08/15/2174 Perpetual</title>
        <cusip>02005NBM1</cusip>
        <identifiers>
          <isin value="US02005NBM11"/>
          <ticker value="ALLY"/>
          <other otherDesc="SEDOL" value="BN7N9G1"/>
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        <balance>137000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>133566.2700000000</valUSD>
        <pctVal>0.1568079036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ally Financial Inc</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial Inc (pfd) 4.70% 08/15/2174 Perpetual</title>
        <cusip>02005NBN9</cusip>
        <identifiers>
          <isin value="US02005NBN93"/>
          <ticker value="ALLY"/>
          <other otherDesc="SEDOL" value="BN0ZM87"/>
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        <balance>150000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>137165.9100000000</valUSD>
        <pctVal>0.1610339107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN AIRLINES INC</name>
        <lei>IWUQB36BXD6OWD6X4T14</lei>
        <title>AMERICAN AIRLINES INC 2024 1ST LIEN TERM LOAN B</title>
        <cusip>02376CBR5</cusip>
        <identifiers>
          <isin value="US02376CBR51"/>
          <ticker value="AAL"/>
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        <balance>130950.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130470.7200000000</valUSD>
        <pctVal>0.1531737024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.600600000000000</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>American Airlines 2014-1 Class A Pass Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines 2014-1 Class A Pass Through Trust 3.70 04/01/2028</title>
        <cusip>02377AAA6</cusip>
        <identifiers>
          <isin value="US02377AAA60"/>
          <ticker value="AAL"/>
          <other otherDesc="SEDOL" value="BQQP7Y3"/>
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        <balance>6909.2400000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6852.9300000000</valUSD>
        <pctVal>0.0080453964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000000</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>American Airlines 2017-2 Class B</name>
        <lei>N/A</lei>
        <title>American Airlines 2017-2 Class B 3.70 04/15/2027</title>
        <cusip>02377DAA0</cusip>
        <identifiers>
          <isin value="US02377DAA00"/>
          <ticker value="AAL"/>
          <other otherDesc="SEDOL" value="BZ1HXG1"/>
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        <balance>55528.7600000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55381.8700000000</valUSD>
        <pctVal>0.0650187726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000000</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>American Express Co</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co 4.73 04/25/2029</title>
        <cusip>025816ED7</cusip>
        <identifiers>
          <isin value="US025816ED77"/>
          <ticker value="AXP"/>
          <other otherDesc="SEDOL" value="BRYQRY5"/>
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        <balance>185000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188062.6400000000</valUSD>
        <pctVal>0.2207870919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.731000000000000</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>Arbor Realty Trust Inc</name>
        <lei>N/A</lei>
        <title>Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd 5.83</title>
        <cusip>03880RAA7</cusip>
        <identifiers>
          <isin value="US03880RAA77"/>
          <ticker value="ARCLO"/>
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        <balance>53424.8500000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53452.6300000000</valUSD>
        <pctVal>0.0627538289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.827579999999999</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>Ares Strategic Income Fund</name>
        <lei>549300IANZJVZPTICV54</lei>
        <title>Ares Strategic Income Fund 5.70 03/15/2028</title>
        <cusip>04020EAG2</cusip>
        <identifiers>
          <isin value="US04020EAG26"/>
          <ticker value="ARESSI"/>
          <other otherDesc="SEDOL" value="BVMCB41"/>
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        <balance>175000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177452.8200000000</valUSD>
        <pctVal>0.2083310756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000000</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>Ashtead Capital Inc</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital Inc 4.38 08/15/2027</title>
        <cusip>045054AF0</cusip>
        <identifiers>
          <isin value="US045054AF03"/>
          <ticker value="AHTLN"/>
          <other otherDesc="SEDOL" value="BD93QF7"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199712.4900000000</valUSD>
        <pctVal>0.2344641120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000000</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>Aspen Insurance Holdings Ltd</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>Aspen Insurance Holdings Ltd 5.75 07/01/2030</title>
        <cusip>04530DAE2</cusip>
        <identifiers>
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          <ticker value="AHL"/>
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        <valUSD>259737.0100000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
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        <cusip>04685A3X7</cusip>
        <identifiers>
          <isin value="US04685A3X78"/>
          <ticker value="ATH"/>
          <other otherDesc="SEDOL" value="BS6WMT8"/>
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        <balance>413000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>420091.8400000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-09</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Atlas Warehouse Lending Co LP</name>
        <lei>25490068J12A1HV7YM70</lei>
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        <cusip>049463AD4</cusip>
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          <isin value="US049463AD44"/>
          <ticker value="ATWALD"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd/United Kingdom</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
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        <cusip>05254HAA2</cusip>
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          <isin value="US05254HAA23"/>
          <ticker value="ANZ"/>
          <other otherDesc="SEDOL" value="BYYZMH9"/>
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        <balance>200000.0000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Avolon Holdings Funding Ltd</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd 6.38 05/04/2028</title>
        <cusip>05401AAS0</cusip>
        <identifiers>
          <isin value="US05401AAS06"/>
          <ticker value="AVOL"/>
          <other otherDesc="SEDOL" value="BQPF896"/>
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        <balance>378000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>395500.8300000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000000</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>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA (pfd) 8.50% 02/14/2174 Perpetual</title>
        <cusip>05565A5R0</cusip>
        <identifiers>
          <isin value="US05565A5R02"/>
          <ticker value="BNP"/>
          <other otherDesc="SEDOL" value="BQH61V0"/>
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        <balance>200000.0000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA (pfd) 4.63% 07/12/2174 Perpetual</title>
        <cusip>05565AB28</cusip>
        <identifiers>
          <isin value="US05565AB286"/>
          <ticker value="BNP"/>
          <other otherDesc="SEDOL" value="BP82ND6"/>
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        <balance>450000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441390.2900000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX Trust 2021-ARIA</name>
        <lei>N/A</lei>
        <title>BX Trust 2021-ARIA 5.38</title>
        <cusip>05608RAA3</cusip>
        <identifiers>
          <isin value="US05608RAA32"/>
          <ticker value="BX"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200055.2600000000</valUSD>
        <pctVal>0.2348665268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.376580000000000</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>Blackstone Mortgage Trust Inc</name>
        <lei>N/A</lei>
        <title>BXMT 2021-FL4 Ltd 5.78</title>
        <cusip>05609GAC2</cusip>
        <identifiers>
          <isin value="US05609GAC24"/>
          <ticker value="BXMT"/>
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        <balance>250000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248349.9300000000</valUSD>
        <pctVal>0.2915648680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.777579999999999</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>BX Commercial Mortgage Trust 2022-CSMO</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2022-CSMO 6.48</title>
        <cusip>05610MAA0</cusip>
        <identifiers>
          <isin value="US05610MAA09"/>
          <ticker value="BX"/>
          <other otherDesc="SEDOL" value="BQXS0B3"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201397.7200000000</valUSD>
        <pctVal>0.2364425859</pctVal>
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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>Floating</couponKind>
          <annualizedRt>6.477900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust 2025-8</name>
        <lei>529900CHSDEA1SX67419</lei>
        <title>Chase Home Lending Mortgage Trust 2025-8 6.00</title>
        <cusip>16162UAD5</cusip>
        <identifiers>
          <isin value="US16162UAD54"/>
          <ticker value="CHASE"/>
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        <balance>329011.0900000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust 2025-8</name>
        <lei>529900CHSDEA1SX67419</lei>
        <title>Chase Home Lending Mortgage Trust 2025-8 6.25</title>
        <cusip>16162UAU7</cusip>
        <identifiers>
          <isin value="US16162UAU79"/>
          <ticker value="CHASE"/>
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        <balance>295460.3400000000</balance>
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        <valUSD>300573.1900000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.250000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust Series 2024-2</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust Series 2024-2 6.00</title>
        <cusip>161929AJ3</cusip>
        <identifiers>
          <isin value="US161929AJ31"/>
          <ticker value="CHASE"/>
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        <balance>157474.1500000000</balance>
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        <curCd>USD</curCd>
        <valUSD>158364.6700000000</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>Variable</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 6.16</title>
        <cusip>46593VAH0</cusip>
        <identifiers>
          <isin value="US46593VAH06"/>
          <ticker value="JPMMT"/>
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        <balance>307389.9000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>311418.1200000000</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>Variable</couponKind>
          <annualizedRt>6.157000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust 2023-6</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2023-6 6.00</title>
        <cusip>465989AC5</cusip>
        <identifiers>
          <isin value="US465989AC55"/>
          <ticker value="JPMMT"/>
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        <balance>180112.9700000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182219.9000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co 4.51 10/22/2028</title>
        <cusip>46647PEP7</cusip>
        <identifiers>
          <isin value="US46647PEP71"/>
          <ticker value="JPM"/>
          <other otherDesc="SEDOL" value="BS55CX2"/>
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        <balance>176000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177193.1000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.505000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust 2023-8</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2023-8 6.00</title>
        <cusip>46657CAD4</cusip>
        <identifiers>
          <isin value="US46657CAD48"/>
          <ticker value="JPMMT"/>
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        <balance>324791.1500000000</balance>
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        <curCd>USD</curCd>
        <valUSD>328638.8900000000</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>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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>BANK 2018-BNK15</name>
        <lei>N/A</lei>
        <title>BANK 2018-BNK15 3.00</title>
        <cusip>06036FAJ0</cusip>
        <identifiers>
          <isin value="US06036FAJ03"/>
          <ticker value="BANK"/>
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        <balance>23000.0000000000</balance>
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        <name>Bank of America Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Bank of America Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Bank of Montreal</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of Montreal</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK 2019-BNK17</name>
        <lei>N/A</lei>
        <title>BANK 2019-BNK17 3.00</title>
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          <isin value="US065403AJ62"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banque Federative du Credit Mutuel SA</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA 4.59 10/16/2028</title>
        <cusip>06675DCR1</cusip>
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          <ticker value="BFCM"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benchmark 2018-B5 Mortgage Trust</name>
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        <title>Benchmark 2018-B5 Mortgage Trust 4.57</title>
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          <ticker value="BMARK"/>
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      <invstOrSec>
        <name>Benchmark 2018-B5 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2018-B5 Mortgage Trust 3.25</title>
        <cusip>08160BAL8</cusip>
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          <isin value="US08160BAL80"/>
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      <invstOrSec>
        <name>Benchmark 2020-B16 Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>08161NAW7</cusip>
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          <isin value="US08161NAW74"/>
          <ticker value="BMARK"/>
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        <name>Benchmark 2019-B13 Mortgage Trust</name>
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          <isin value="US08162DAR98"/>
          <ticker value="BMARK"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>BHG Securitization Trust 2025-1CON</name>
        <lei>N/A</lei>
        <title>BHG Securitization Trust 2025-1CON 5.26</title>
        <cusip>08860AAB5</cusip>
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          <isin value="US08860AAB52"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund 7.05 09/29/2025</title>
        <cusip>09261HBA4</cusip>
        <identifiers>
          <isin value="US09261HBA41"/>
          <ticker value="BCRED"/>
          <other otherDesc="SEDOL" value="BMTYHR2"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund 5.95 07/16/2029</title>
        <cusip>09261HBN6</cusip>
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          <ticker value="BCRED"/>
          <other otherDesc="SEDOL" value="BM9XKF8"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Blue Racer Midstream LLC / Blue Racer Finance Corp</name>
        <lei>N/A</lei>
        <title>Blue Racer Midstream LLC / Blue Racer Finance Corp 7.00 07/15/2029</title>
        <cusip>095796AJ7</cusip>
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          <isin value="US095796AJ72"/>
          <ticker value="BLURAC"/>
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        <curCd>USD</curCd>
        <valUSD>114831.7500000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000000</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>SM Energy Co</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co 6.75 09/15/2026</title>
        <cusip>78454LAN0</cusip>
        <identifiers>
          <isin value="US78454LAN01"/>
          <ticker value="SM"/>
          <other otherDesc="SEDOL" value="BDJ0GW5"/>
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        <balance>270000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>269683.2400000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000000</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>SMRT 2022-MINI</name>
        <lei>N/A</lei>
        <title>SMRT 2022-MINI 5.71</title>
        <cusip>78457JAG7</cusip>
        <identifiers>
          <isin value="US78457JAG76"/>
          <ticker value="SMRT"/>
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        <balance>225000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>224002.2600000000</valUSD>
        <pctVal>0.2629805025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SWCH Commercial Mortgage Trust 2025-DATA</name>
        <lei>N/A</lei>
        <title>SWCH Commercial Mortgage Trust 2025-DATA 5.81</title>
        <cusip>78489CAA7</cusip>
        <identifiers>
          <isin value="US78489CAA71"/>
          <ticker value="SWCH"/>
          <other otherDesc="SEDOL" value="BTRFVR4"/>
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        <balance>246000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244553.0000000000</valUSD>
        <pctVal>0.2871072409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.806000000000000</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>Santander Bank Auto Credit-Linked Notes Series 2023-B</name>
        <lei>N/A</lei>
        <title>Santander Bank Auto Credit-Linked Notes Series 2023-B 5.64</title>
        <cusip>80290CCB8</cusip>
        <identifiers>
          <isin value="US80290CCB81"/>
          <ticker value="SBCLN"/>
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        <balance>115082.7200000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>116075.7700000000</valUSD>
        <pctVal>0.1362739122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.640000000000000</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>Scalelogix Abs Us Issuer LLC</name>
        <lei>N/A</lei>
        <title>Scalelogix Abs Us Issuer LLC 6.16</title>
        <cusip>80587FAB5</cusip>
        <identifiers>
          <isin value="US80587FAB58"/>
          <ticker value="SCLGX"/>
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        <balance>248000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248150.4900000000</valUSD>
        <pctVal>0.2913307238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.158000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Charles Schwab Corp/The</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The (pfd) 4.00% 06/01/2174 Perpetual</title>
        <cusip>808513BK0</cusip>
        <identifiers>
          <isin value="US808513BK01"/>
          <ticker value="SCHW"/>
          <other otherDesc="SEDOL" value="BNGHGM9"/>
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        <balance>207000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>204140.0500000000</valUSD>
        <pctVal>0.2396621040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra (pfd) 4.88% 10/15/2173 Perpetual</title>
        <cusip>816851BK4</cusip>
        <identifiers>
          <isin value="US816851BK46"/>
          <ticker value="SRE"/>
          <other otherDesc="SEDOL" value="BMVT1B7"/>
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        <balance>231000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>231171.3100000000</valUSD>
        <pctVal>0.2713970263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sequoia Mortgage Trust 2024-4</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-4 6.00</title>
        <cusip>81743BAD9</cusip>
        <identifiers>
          <isin value="US81743BAD91"/>
          <ticker value="SEMT"/>
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        <balance>226073.7800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228863.1000000000</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>2054-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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>Sequoia Mortgage Trust 2025-8</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2025-8 5.50</title>
        <cusip>81743GAE6</cusip>
        <identifiers>
          <isin value="US81743GAE61"/>
          <ticker value="SEMT"/>
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        <balance>382711.2800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385147.1600000000</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>2055-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Sequoia Mortgage Trust 2024-8</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-8 5.50</title>
        <cusip>81749NAE5</cusip>
        <identifiers>
          <isin value="US81749NAE58"/>
          <ticker value="SEMT"/>
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        <balance>168432.4200000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>169128.8200000000</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>2054-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Sequoia Mortgage Trust 2024-8</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-8 5.50</title>
        <cusip>81749NAL9</cusip>
        <identifiers>
          <isin value="US81749NAL91"/>
          <ticker value="SEMT"/>
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        <balance>128900.4300000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>128864.0200000000</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>2054-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Sequoia Mortgage Trust 2024-9</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-9 5.50</title>
        <cusip>81749PAE0</cusip>
        <identifiers>
          <isin value="US81749PAE07"/>
          <ticker value="SEMT"/>
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        <balance>100344.8200000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100795.5500000000</valUSD>
        <pctVal>0.1183348078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust 2024-10</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-10 5.50</title>
        <cusip>81749QAE8</cusip>
        <identifiers>
          <isin value="US81749QAE89"/>
          <ticker value="SEMT"/>
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        <balance>70265.1900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70604.0500000000</valUSD>
        <pctVal>0.0828897376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust 2024-10</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-10 5.50</title>
        <cusip>81749QAL2</cusip>
        <identifiers>
          <isin value="US81749QAL23"/>
          <ticker value="SEMT"/>
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        <balance>199804.0400000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199943.9200000000</valUSD>
        <pctVal>0.2347358127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRAVO Trust 2025-SR1</name>
        <lei>N/A</lei>
        <title>BRAVO Trust 2025-SR1 3.00</title>
        <cusip>10567UAA5</cusip>
        <identifiers>
          <isin value="US10567UAA51"/>
          <ticker value="BRAVO"/>
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        <balance>270778.2100000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261440.6700000000</valUSD>
        <pctVal>0.3069335049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.000000000000000</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>BRAVO Residential Funding Trust 2025-NQM7</name>
        <lei>N/A</lei>
        <title>BRAVO Residential Funding Trust 2025-NQM7 5.46</title>
        <cusip>10570TAB1</cusip>
        <identifiers>
          <isin value="US10570TAB17"/>
          <ticker value="BRAVO"/>
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        <balance>297799.6000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300516.5700000000</valUSD>
        <pctVal>0.3528089341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.459000000000001</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>Sequoia Mortgage Trust 2025-7</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2025-7 5.50</title>
        <cusip>81749VAE7</cusip>
        <identifiers>
          <isin value="US81749VAE74"/>
          <ticker value="SEMT"/>
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        <balance>373560.0500000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>376522.9000000000</valUSD>
        <pctVal>0.4420409929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Sequoia Mortgage Trust 2025-8</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2025-8 5.50</title>
        <cusip>81749WAD7</cusip>
        <identifiers>
          <isin value="US81749WAD74"/>
          <ticker value="SEMT"/>
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        <balance>256000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257217.0600000000</valUSD>
        <pctVal>0.3019749519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Broadcom Corp / Broadcom Cayman Finance Ltd</name>
        <lei>N/A</lei>
        <title>Broadcom Corp / Broadcom Cayman Finance Ltd 3.88 01/15/2027</title>
        <cusip>11134LAH2</cusip>
        <identifiers>
          <isin value="US11134LAH24"/>
          <ticker value="AVGO"/>
          <other otherDesc="SEDOL" value="BDRTBT6"/>
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        <balance>150000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149408.8900000000</valUSD>
        <pctVal>0.1754072703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000000</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>Broadcom Inc</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc 4.80 04/15/2028</title>
        <cusip>11135FCE9</cusip>
        <identifiers>
          <isin value="US11135FCE97"/>
          <ticker value="AVGO"/>
          <other otherDesc="SEDOL" value="BR1FK68"/>
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        <balance>230000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234214.2600000000</valUSD>
        <pctVal>0.2749694748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000000</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>Service Properties Trust</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust 8.38 06/15/2029</title>
        <cusip>81761LAD4</cusip>
        <identifiers>
          <isin value="US81761LAD47"/>
          <ticker value="SVC"/>
          <other otherDesc="SEDOL" value="BR502D0"/>
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        <balance>190000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196199.5100000000</valUSD>
        <pctVal>0.2303398444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.375000000000000</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>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio LLC 4.00 07/15/2028</title>
        <cusip>82967NBJ6</cusip>
        <identifiers>
          <isin value="US82967NBJ63"/>
          <ticker value="SIRI"/>
          <other otherDesc="SEDOL" value="BMBJVY0"/>
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        <balance>140000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135205.4900000000</valUSD>
        <pctVal>0.1587323614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000000</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>Builders FirstSource Inc</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource Inc 4.25 02/01/2032</title>
        <cusip>12008RAP2</cusip>
        <identifiers>
          <isin value="US12008RAP29"/>
          <ticker value="BLDR"/>
          <other otherDesc="SEDOL" value="BMD9BZ9"/>
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        <balance>169000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158952.0700000000</valUSD>
        <pctVal>0.1866110424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000000</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>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global 2.90 01/15/2027</title>
        <cusip>124857AR4</cusip>
        <identifiers>
          <isin value="US124857AR43"/>
          <ticker value="PARA"/>
          <other otherDesc="SEDOL" value="BDFWR33"/>
        </identifiers>
        <balance>335000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>327808.0900000000</valUSD>
        <pctVal>0.3848494038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.900000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CCO Holdings LLC / CCO Holdings Capital Corp</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC / CCO Holdings Capital Corp 5.13 05/01/2027</title>
        <cusip>1248EPBT9</cusip>
        <identifiers>
          <isin value="US1248EPBT92"/>
          <ticker value="CHTR"/>
          <other otherDesc="SEDOL" value="BYM4WW3"/>
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        <balance>280000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278763.8800000000</valUSD>
        <pctVal>0.3272710964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000000</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>CARS-DB5 LP</name>
        <lei>N/A</lei>
        <title>CARS-DB5 LP 1.92</title>
        <cusip>12510HAM2</cusip>
        <identifiers>
          <isin value="US12510HAM25"/>
          <ticker value="CAUTO"/>
        </identifiers>
        <balance>246718.7800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>237987.3000000000</valUSD>
        <pctVal>0.2793990549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.920000000000000</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>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio LLC 3.13 09/01/2026</title>
        <cusip>82967NBL1</cusip>
        <identifiers>
          <isin value="US82967NBL10"/>
          <ticker value="SIRI"/>
          <other otherDesc="SEDOL" value="BM9SCZ7"/>
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        <balance>205000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203861.2500000000</valUSD>
        <pctVal>0.2393347904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000000</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>CBAM Ltd</name>
        <lei>N/A</lei>
        <title>CBAM 2019-11R Ltd 6.84</title>
        <cusip>12510TAD6</cusip>
        <identifiers>
          <isin value="US12510TAD63"/>
          <ticker value="CBAM"/>
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        <balance>100000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100204.7600000000</valUSD>
        <pctVal>0.1176412155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.837100000000000</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>CSMC 2021-BHAR</name>
        <lei>N/A</lei>
        <title>CSMC 2021-BHAR 5.63</title>
        <cusip>12659VAA8</cusip>
        <identifiers>
          <isin value="US12659VAA89"/>
          <ticker value="CSMC"/>
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        <balance>150000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149414.7800000000</valUSD>
        <pctVal>0.1754141852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.628480000000000</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>CSMC 2021-BHAR</name>
        <lei>N/A</lei>
        <title>CSMC 2021-BHAR 5.98</title>
        <cusip>12659VAG5</cusip>
        <identifiers>
          <isin value="US12659VAG59"/>
          <ticker value="CSMC"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199512.0200000000</valUSD>
        <pctVal>0.2342287585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.978479999999999</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>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce 7.00 10/28/2085</title>
        <cusip>13607P7Y4</cusip>
        <identifiers>
          <isin value="US13607P7Y41"/>
          <ticker value="CM"/>
          <other otherDesc="SEDOL" value="BT8PHX1"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204428.8000000000</valUSD>
        <pctVal>0.2400010988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2085-10-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.000000000000000</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>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
        <title>Celanese US Holdings LLC 6.67 07/15/2027</title>
        <cusip>15089QAM6</cusip>
        <identifiers>
          <isin value="US15089QAM69"/>
          <ticker value="CE"/>
          <other otherDesc="SEDOL" value="BP9RBF8"/>
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        <balance>75000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77225.4800000000</valUSD>
        <pctVal>0.0906633510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.665000000000000</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>Centersquare Issuer LLC</name>
        <lei>N/A</lei>
        <title>Centersquare Issuer LLC 5.00</title>
        <cusip>15201EAK0</cusip>
        <identifiers>
          <isin value="US15201EAK01"/>
          <ticker value="CNSQ"/>
        </identifiers>
        <balance>360266.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>346288.3300000000</valUSD>
        <pctVal>0.4065453582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000000</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>Ellington Financial Mortgage Trust 2020-1</name>
        <lei>N/A</lei>
        <title>Ellington Financial Mortgage Trust 2020-1 2.01</title>
        <cusip>31574PAA3</cusip>
        <identifiers>
          <isin value="US31574PAA30"/>
          <ticker value="EFMT"/>
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        <balance>6955.6700000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6922.8600000000</valUSD>
        <pctVal>0.0081274948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.006000000000000</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>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp (pfd) 4.50% 09/30/2173 Perpetual</title>
        <cusip>316773DB3</cusip>
        <identifiers>
          <isin value="US316773DB33"/>
          <ticker value="FITB"/>
          <other otherDesc="SEDOL" value="BN4PXW4"/>
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        <balance>230000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>229811.3300000000</valUSD>
        <pctVal>0.2698003986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust Series 2024-3</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust Series 2024-3 6.00</title>
        <cusip>16159HAD9</cusip>
        <identifiers>
          <isin value="US16159HAD98"/>
          <ticker value="CHASE"/>
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        <balance>144148.1800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146133.2600000000</valUSD>
        <pctVal>0.1715616536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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>Chase Home Lending Mortgage Tr</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust Series 2024-7 6.00</title>
        <cusip>16159TAD3</cusip>
        <identifiers>
          <isin value="US16159TAD37"/>
          <ticker value="CHASE"/>
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        <balance>315378.3500000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>318957.1400000000</valUSD>
        <pctVal>0.3744583155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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 2021-1</name>
        <lei>N/A</lei>
        <title>Flexential Issuer 2021-1 3.25</title>
        <cusip>33938MAA7</cusip>
        <identifiers>
          <isin value="US33938MAA71"/>
          <ticker value="FLX"/>
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        <balance>100000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97279.1400000000</valUSD>
        <pctVal>0.1142065134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000000</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>PONTE VEDRA PINE OBLIG</name>
        <lei>N/A</lei>
        <title>Florida Local Government Finance Commission 6.75% 11/15/2030</title>
        <cusip>34077UAN0</cusip>
        <identifiers>
          <isin value="US34077UAN00"/>
          <ticker value="FLSFAC"/>
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        <balance>210000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210768.0300000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000000</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>Chase Home Lending Mortgage Trust Series 2025-2</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust Series 2025-2 6.00</title>
        <cusip>16159VAD8</cusip>
        <identifiers>
          <isin value="US16159VAD82"/>
          <ticker value="CHASE"/>
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        <balance>293345.3800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299402.1400000000</valUSD>
        <pctVal>0.3515005840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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>Chase Home Lending Mortgage Trust 2024-8</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust 2024-8 5.50</title>
        <cusip>16159XAL6</cusip>
        <identifiers>
          <isin value="US16159XAL64"/>
          <ticker value="CHASE"/>
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        <balance>81487.4300000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81473.1800000000</valUSD>
        <pctVal>0.0956501859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Ford Motor Credit Co LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC 5.13 11/05/2026</title>
        <cusip>345397F81</cusip>
        <identifiers>
          <isin value="US345397F810"/>
          <ticker value="F"/>
          <other otherDesc="SEDOL" value="BQB43B4"/>
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        <balance>500000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501018.0500000000</valUSD>
        <pctVal>0.5881993268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000000</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>Freddie Mac STACR REMIC Trust 2022-DNA6</name>
        <lei>5493000IS30HKV5IAS29</lei>
        <title>Freddie Mac STACR REMIC Trust 2022-DNA6 6.50</title>
        <cusip>35564KH36</cusip>
        <identifiers>
          <isin value="US35564KH362"/>
          <ticker value="STACR"/>
          <other otherDesc="SEDOL" value="BN48969"/>
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        <balance>27438.5600000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27629.8800000000</valUSD>
        <pctVal>0.0324377072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.498390000000000</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>Chase Home Lending Mortgage Trust 2024-9</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust 2024-9 5.50</title>
        <cusip>16160QAD6</cusip>
        <identifiers>
          <isin value="US16160QAD60"/>
          <ticker value="CHASE"/>
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        <balance>143008.1500000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143778.6500000000</valUSD>
        <pctVal>0.1687973220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Freddie Mac STACR REMIC Trust 2022-DNA5</name>
        <lei>5493000IS349P4O9HR58</lei>
        <title>Freddie Mac STACR REMIC Trust 2022-DNA5 7.30</title>
        <cusip>35564KYN3</cusip>
        <identifiers>
          <isin value="US35564KYN35"/>
          <ticker value="STACR"/>
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        <balance>40577.9900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41409.2800000000</valUSD>
        <pctVal>0.0486148366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.298389999999999</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>Freedom Mortgage Corp</name>
        <lei>549300LYRWPSYPK6S325</lei>
        <title>Freedom Mortgage Corp 12.00 10/01/2028</title>
        <cusip>35640YAK3</cusip>
        <identifiers>
          <isin value="US35640YAK38"/>
          <ticker value="FREMOR"/>
          <other otherDesc="SEDOL" value="BR53N47"/>
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        <balance>335000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358471.7800000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.000000000000000</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>Freedom Mortgage Holdings LLC</name>
        <lei>254900ROJ91RGM43S156</lei>
        <title>Freedom Mortgage Holdings LLC 9.25 02/01/2029</title>
        <cusip>35641AAA6</cusip>
        <identifiers>
          <isin value="US35641AAA60"/>
          <ticker value="FREMOR"/>
          <other otherDesc="SEDOL" value="BNRPV83"/>
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        <balance>116000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121319.8200000000</valUSD>
        <pctVal>0.1424304702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.250000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Frontier Communications Holdings LLC</name>
        <lei>N/A</lei>
        <title>Frontier Communications Holdings LLC 8.63 03/15/2031</title>
        <cusip>35908MAE0</cusip>
        <identifiers>
          <isin value="US35908MAE03"/>
          <ticker value="FYBR"/>
          <other otherDesc="SEDOL" value="BPH14P3"/>
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        <balance>370000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>393015.1100000000</valUSD>
        <pctVal>0.4614029836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.625000000000000</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>GA Global Funding Trust</name>
        <lei>54930029I8ROQ4OROZ88</lei>
        <title>GA Global Funding Trust 2.25 01/06/2027</title>
        <cusip>36143L2G9</cusip>
        <identifiers>
          <isin value="US36143L2G95"/>
          <ticker value="GBLATL"/>
          <other otherDesc="SEDOL" value="BMVBD28"/>
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        <balance>150000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145771.2600000000</valUSD>
        <pctVal>0.1711366626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000000</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>GA Global Funding Trust</name>
        <lei>54930029I8ROQ4OROZ88</lei>
        <title>GA Global Funding Trust 4.40 09/23/2027</title>
        <cusip>36143L2N4</cusip>
        <identifiers>
          <isin value="US36143L2N47"/>
          <ticker value="GBLATL"/>
          <other otherDesc="SEDOL" value="BMZMB78"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200475.1400000000</valUSD>
        <pctVal>0.2353594694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>2</fairValLevel>
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        <name>GXO Logistics Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust 2024-HE1</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust 2025-PJ5</name>
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          <isin value="US36272DAE67"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust 2025-PJ6</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2025-PJ6 6.00</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust 2025-PJ7</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust 2024-PJ7</name>
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          <isin value="US362949AM10"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>General Motors Financial Co Inc</name>
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          <ticker value="GM"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Global Atlantic Fin Co</name>
        <lei>98450051B2E65CAA7E94</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Express Co</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co 4.35 07/20/2029</title>
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          <ticker value="AXP"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American International Group Inc</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust 2020-5</name>
        <lei>N/A</lei>
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        <name>goeasy Ltd</name>
        <lei>5493009DJVZG2P8YV435</lei>
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          <ticker value="GSYCN"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Goldman Sachs Group Inc/The</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>Goldman Sachs Group Inc/The</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Group Inc/The</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The (pfd) 7.38% 02/10/2174 Perpetual</title>
        <cusip>38148BAE8</cusip>
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          <isin value="US38148BAE83"/>
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          <other otherDesc="SEDOL" value="BK6Q153"/>
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        <curCd>USD</curCd>
        <valUSD>236613.9800000000</valUSD>
        <pctVal>0.2777867659</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AppLovin Corp</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>AppLovin Corp 5.13 12/01/2029</title>
        <cusip>03831WAB4</cusip>
        <identifiers>
          <isin value="US03831WAB46"/>
          <ticker value="APP"/>
          <other otherDesc="SEDOL" value="BTG00L7"/>
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        <balance>278000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284409.2200000000</valUSD>
        <pctVal>0.3338987722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada 4.97 01/24/2029</title>
        <cusip>78017DAA6</cusip>
        <identifiers>
          <isin value="US78017DAA63"/>
          <ticker value="RY"/>
          <other otherDesc="SEDOL" value="BSB6MG2"/>
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        <balance>340000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>346324.7300000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.965000000000000</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>Goldman Sachs Bank USA/New York NY</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Goldman Sachs Bank USA/New York NY 5.41 05/21/2027</title>
        <cusip>38151LAG5</cusip>
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          <isin value="US38151LAG59"/>
          <ticker value="GS"/>
          <other otherDesc="SEDOL" value="BPZRNM3"/>
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        <balance>300000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302237.3200000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.414000000000001</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>Golub Capital BDC Inc</name>
        <lei>2549005WE0QLGK9APF78</lei>
        <title>Golub Capital BDC Inc 7.05 12/05/2028</title>
        <cusip>38173MAD4</cusip>
        <identifiers>
          <isin value="US38173MAD48"/>
          <ticker value="GBDC"/>
          <other otherDesc="SEDOL" value="BQRGLC1"/>
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        <balance>71000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75055.2400000000</valUSD>
        <pctVal>0.0881154714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.050000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada 4.50 08/06/2029</title>
        <cusip>78017DAK4</cusip>
        <identifiers>
          <isin value="US78017DAK46"/>
          <ticker value="RY"/>
          <other otherDesc="SEDOL" value="BPRB884"/>
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        <balance>249000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>251287.9100000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.498000000000000</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>SHR Trust 2024-LXRY</name>
        <lei>N/A</lei>
        <title>SHR Trust 2024-LXRY 6.81</title>
        <cusip>784234AC0</cusip>
        <identifiers>
          <isin value="US784234AC03"/>
          <ticker value="SHR"/>
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        <balance>247000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248052.1700000000</valUSD>
        <pctVal>0.2912152953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.813100000000000</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>SCG 2024-MSP Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SCG 2024-MSP Mortgage Trust 6.80</title>
        <cusip>78436EAC3</cusip>
        <identifiers>
          <isin value="US78436EAC30"/>
          <ticker value="SCG"/>
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        <balance>261000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261335.1500000000</valUSD>
        <pctVal>0.3068096235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.803100000000001</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>Golub Capital Private Credit Fund</name>
        <lei>254900B5KBW6OY1F9951</lei>
        <title>Golub Capital Private Credit Fund 5.45 08/15/2028</title>
        <cusip>38179RAE5</cusip>
        <identifiers>
          <isin value="US38179RAE53"/>
          <ticker value="GCRED"/>
          <other otherDesc="SEDOL" value="BQXMDX8"/>
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        <balance>145000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145621.8400000000</valUSD>
        <pctVal>0.1709612423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000000</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>Greenko Wind Projects Mauritius Ltd</name>
        <lei>254900MSUXE1FF83DP82</lei>
        <title>Greenko Wind Projects Mauritius Ltd 7.25 09/27/2028</title>
        <cusip>39531JAB0</cusip>
        <identifiers>
          <isin value="US39531JAB08"/>
          <ticker value="GRNKEN"/>
          <other otherDesc="SEDOL" value="BTZNQ64"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204010.8300000000</valUSD>
        <pctVal>0.2395103986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.250000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC (pfd) 6.00% 11/22/2173 Perpetual</title>
        <cusip>404280BL2</cusip>
        <identifiers>
          <isin value="US404280BL25"/>
          <ticker value="HSBC"/>
          <other otherDesc="SEDOL" value="BDS6RN2"/>
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        <balance>400000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>401090.0000000000</valUSD>
        <pctVal>0.4708829711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC 7.39 11/03/2028</title>
        <cusip>404280DR7</cusip>
        <identifiers>
          <isin value="US404280DR76"/>
          <ticker value="HSBC"/>
          <other otherDesc="SEDOL" value="BMGHHF2"/>
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        <balance>450000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478357.4100000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.390000000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC USA Inc</name>
        <lei>549300LBOHZ4QSIWU288</lei>
        <title>HSBC USA Inc 4.65 06/03/2028</title>
        <cusip>40428HR95</cusip>
        <identifiers>
          <isin value="US40428HR954"/>
          <ticker value="HSBC"/>
          <other otherDesc="SEDOL" value="BTZQCR6"/>
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        <balance>319000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323578.2900000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HPS Corporate Lending Fund</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS Corporate Lending Fund 5.45 01/14/2028</title>
        <cusip>40440VAH8</cusip>
        <identifiers>
          <isin value="US40440VAH87"/>
          <ticker value="HLEND"/>
          <other otherDesc="SEDOL" value="BN2RDN3"/>
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        <balance>210000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212041.7600000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings Inc 5.50 07/15/2027</title>
        <cusip>42704LAA2</cusip>
        <identifiers>
          <isin value="US42704LAA26"/>
          <ticker value="HRI"/>
          <other otherDesc="SEDOL" value="BHWTW85"/>
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        <balance>332000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>331847.6100000000</valUSD>
        <pctVal>0.3895918337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000000</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>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings Inc 7.00 06/15/2030</title>
        <cusip>42704LAF1</cusip>
        <identifiers>
          <isin value="US42704LAF13"/>
          <ticker value="HRI"/>
          <other otherDesc="SEDOL" value="BV5GRS6"/>
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        <balance>300000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312425.7000000000</valUSD>
        <pctVal>0.3667903510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000000</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>Hewlett Packard Enterprise Co</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co 4.40 09/25/2027</title>
        <cusip>42824CBS7</cusip>
        <identifiers>
          <isin value="US42824CBS70"/>
          <ticker value="HPE"/>
          <other otherDesc="SEDOL" value="BRSF0X8"/>
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        <balance>179000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179958.5700000000</valUSD>
        <pctVal>0.2112728468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hilton Grand Vacations Trust 2024-2</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust 2024-2 6.91</title>
        <cusip>43283JAD8</cusip>
        <identifiers>
          <isin value="US43283JAD81"/>
          <ticker value="HGVT"/>
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        <balance>62645.0100000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64450.2400000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.910000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hilton Grand Vacations Trust 2019-A</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust 2019-A 2.34</title>
        <cusip>43284HAA7</cusip>
        <identifiers>
          <isin value="US43284HAA77"/>
          <ticker value="HGVT"/>
          <other otherDesc="SEDOL" value="BKPT476"/>
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        <balance>260263.0400000000</balance>
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        <curCd>USD</curCd>
        <valUSD>257742.8600000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.340000000000000</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>Service Properties Trust</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust 5.25 02/15/2026</title>
        <cusip>44106MAV4</cusip>
        <identifiers>
          <isin value="US44106MAV46"/>
          <ticker value="SVC"/>
          <other otherDesc="SEDOL" value="BDF0WW1"/>
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        <balance>170000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170440.3200000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hyatt Hotels Corp</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp 5.75 01/30/2027</title>
        <cusip>448579AQ5</cusip>
        <identifiers>
          <isin value="US448579AQ51"/>
          <ticker value="H"/>
          <other otherDesc="SEDOL" value="BRF2HN1"/>
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        <balance>321000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>326933.9500000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hyatt Hotels Corp</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp 5.05 03/30/2028</title>
        <cusip>448579AU6</cusip>
        <identifiers>
          <isin value="US448579AU63"/>
          <ticker value="H"/>
          <other otherDesc="SEDOL" value="BTVL0X7"/>
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        <balance>60000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61048.7600000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000000</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>Morgan Stanley Private Bank NA</name>
        <lei>549300GS0W0TEUQS8571</lei>
        <title>Morgan Stanley Private Bank NA 4.73 07/18/2031</title>
        <cusip>61776NVG5</cusip>
        <identifiers>
          <isin value="US61776NVG59"/>
          <ticker value="MS"/>
          <other otherDesc="SEDOL" value="BQT2KK8"/>
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        <balance>65000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65933.3400000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.734000000000000</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>Morgan Stanley Residential Mortgage Loan Trust 2024-3</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Residential Mortgage Loan Trust 2024-3 6.00</title>
        <cusip>61776QAC0</cusip>
        <identifiers>
          <isin value="US61776QAC06"/>
          <ticker value="MSRM"/>
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        <balance>82838.5200000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83240.6800000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1 6.14</title>
        <cusip>617932AE8</cusip>
        <identifiers>
          <isin value="US617932AE81"/>
          <ticker value="MSRM"/>
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        <balance>338102.9200000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>341600.8000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.144000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NMI Holdings Inc</name>
        <lei>529900KNNGFXJX1C3Z08</lei>
        <title>NMI Holdings Inc 6.00 08/15/2029</title>
        <cusip>629209AC1</cusip>
        <identifiers>
          <isin value="US629209AC19"/>
          <ticker value="NMIH"/>
          <other otherDesc="SEDOL" value="BSCBXZ2"/>
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        <balance>250000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256977.5000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NXP BV / NXP Funding LLC / NXP USA Inc</name>
        <lei>N/A</lei>
        <title>NXP BV / NXP Funding LLC / NXP USA Inc 4.30 08/19/2028</title>
        <cusip>62954HBF4</cusip>
        <identifiers>
          <isin value="US62954HBF47"/>
          <ticker value="NXPI"/>
          <other otherDesc="SEDOL" value="BVYL9F3"/>
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        <balance>123000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123281.0800000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>National Bank Canada</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
        <title>National Bank of Canada 5.60 07/02/2027</title>
        <cusip>63307A3A1</cusip>
        <identifiers>
          <isin value="US63307A3A17"/>
          <ticker value="NACN"/>
          <other otherDesc="SEDOL" value="BRRFXQ3"/>
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        <balance>250000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252433.2400000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.600000000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society 4.13 10/18/2032</title>
        <cusip>63859WAF6</cusip>
        <identifiers>
          <isin value="US63859WAF68"/>
          <ticker value="NWIDE"/>
          <other otherDesc="SEDOL" value="BZ1DKX5"/>
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        <balance>500000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492170.7800000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.125000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NatWest Group PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC 3.03 11/28/2035</title>
        <cusip>639057AB4</cusip>
        <identifiers>
          <isin value="US639057AB46"/>
          <ticker value="NWG"/>
          <other otherDesc="SEDOL" value="BMZMFP4"/>
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        <balance>200000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182445.7900000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.032000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust 2019-5</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust 2019-5 2.53</title>
        <cusip>64034EAA3</cusip>
        <identifiers>
          <isin value="US64034EAA38"/>
          <ticker value="NSLT"/>
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        <balance>46060.7600000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42243.7700000000</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>
          <annualizedRt>2.530000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New Economy Assets - Phase 1 Sponsor LLC</name>
        <lei>N/A</lei>
        <title>New Economy Assets - Phase 1 Sponsor LLC 2.41</title>
        <cusip>643821AB7</cusip>
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          <isin value="US643821AB76"/>
          <ticker value="USRE"/>
          <other otherDesc="SEDOL" value="BMHSP38"/>
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        <balance>200000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>132031.5800000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.410000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>Nexstar Media Inc</name>
        <lei>5493006PK6I4I2OOT688</lei>
        <title>Nexstar Media Inc 5.63 07/15/2027</title>
        <cusip>65343HAA9</cusip>
        <identifiers>
          <isin value="US65343HAA95"/>
          <ticker value="NXST"/>
          <other otherDesc="SEDOL" value="BJXR8L7"/>
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        <balance>75000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74965.5700000000</valUSD>
        <pctVal>0.0880101980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000000</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>Nissan Motor Acceptance Co LLC</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
        <title>Nissan Motor Acceptance Co LLC 6.95 09/15/2026</title>
        <cusip>65480CAE5</cusip>
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          <isin value="US65480CAE57"/>
          <ticker value="NSANY"/>
          <other otherDesc="SEDOL" value="BNQQSR5"/>
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        <balance>425000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>428155.6300000000</valUSD>
        <pctVal>0.5026582442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.950000000000000</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>Northern Trust Corp</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corp 3.38 05/08/2032</title>
        <cusip>665859AS3</cusip>
        <identifiers>
          <isin value="US665859AS34"/>
          <ticker value="NTRS"/>
          <other otherDesc="SEDOL" value="BF191T6"/>
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        <balance>533000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>521364.4100000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.375000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>OnDeck Asset Securitization Trust IV LLC</name>
        <lei>N/A</lei>
        <title>OnDeck Asset Securitization Trust IV LLC 5.42</title>
        <cusip>67108SAE8</cusip>
        <identifiers>
          <isin value="US67108SAE81"/>
          <ticker value="ONDK"/>
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        <balance>143000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143919.1800000000</valUSD>
        <pctVal>0.1689623054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.420000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OBX 2022-NQM9 Trust</name>
        <lei>N/A</lei>
        <title>OBX 2022-NQM9 Trust 6.45</title>
        <cusip>67118LAC5</cusip>
        <identifiers>
          <isin value="US67118LAC54"/>
          <ticker value="OBX"/>
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        <balance>152736.5900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152539.2500000000</valUSD>
        <pctVal>0.1790823388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.450000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OBX 2024-NQM11 Trust</name>
        <lei>254900F5LT8CA1U6PK21</lei>
        <title>OBX 2024-NQM11 Trust 6.23</title>
        <cusip>67119EAC0</cusip>
        <identifiers>
          <isin value="US67119EAC03"/>
          <ticker value="OBX"/>
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        <balance>187588.2400000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189431.7600000000</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>2064-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.230000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Life 2021-BMR Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Life 2021-BMR Mortgage Trust 5.88</title>
        <cusip>53218CAG5</cusip>
        <identifiers>
          <isin value="US53218CAG50"/>
          <ticker value="LIFE"/>
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        <balance>112000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111338.4600000000</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>2038-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.877479999999999</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lineage OP LP</name>
        <lei>254900CSRDL1G4SRQE89</lei>
        <title>Lineage OP LP 5.25 07/15/2030</title>
        <cusip>53567YAA7</cusip>
        <identifiers>
          <isin value="US53567YAA73"/>
          <ticker value="LINE"/>
          <other otherDesc="SEDOL" value="BTCJSF8"/>
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        <balance>240000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242283.5700000000</valUSD>
        <pctVal>0.2844429113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000000</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>Lyra Music Assets Delaware LP</name>
        <lei>9845007N9EAB0C048A12</lei>
        <title>Lyra Music Assets Delaware LP 5.76</title>
        <cusip>552339AA1</cusip>
        <identifiers>
          <isin value="US552339AA18"/>
          <ticker value="LYRA"/>
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        <balance>261624.5100000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265872.8200000000</valUSD>
        <pctVal>0.3121368856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-12-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.760000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lyra Music Assets Delaware LP</name>
        <lei>9845007N9EAB0C048A12</lei>
        <title>Lyra Music Assets Delaware LP 5.60</title>
        <cusip>552339AD5</cusip>
        <identifiers>
          <isin value="US552339AD56"/>
          <ticker value="LYRA"/>
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        <balance>155000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157038.6700000000</valUSD>
        <pctVal>0.1843646950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.604000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>M&amp;T Bank Corp</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp (pfd) 5.13% 05/01/2174 Perpetual</title>
        <cusip>55261FAH7</cusip>
        <identifiers>
          <isin value="US55261FAH73"/>
          <ticker value="MTB"/>
          <other otherDesc="SEDOL" value="BF0BYS3"/>
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        <balance>123000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122325.5900000000</valUSD>
        <pctVal>0.1436112525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BSPRT 2017-FL1 Co-Issuer LLC</name>
        <lei>N/A</lei>
        <title>BSPRT 2023-FL10 Issuer Ltd 6.62</title>
        <cusip>05610VAA0</cusip>
        <identifiers>
          <isin value="US05610VAA08"/>
          <ticker value="BSPRT"/>
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        <balance>86482.6300000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86563.1400000000</valUSD>
        <pctVal>0.1016258410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.622100000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MFA 2023-NQM3 Trust</name>
        <lei>N/A</lei>
        <title>MFA 2023-NQM3 Trust 6.62</title>
        <cusip>55286MAA8</cusip>
        <identifiers>
          <isin value="US55286MAA80"/>
          <ticker value="MFRA"/>
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        <balance>142935.6000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144087.2600000000</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>2068-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.617000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MFA 2024-NQM1 Trust</name>
        <lei>N/A</lei>
        <title>MFA 2024-NQM1 Trust 6.83</title>
        <cusip>55286VAB6</cusip>
        <identifiers>
          <isin value="US55286VAB62"/>
          <ticker value="MFRA"/>
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        <balance>81535.5300000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82679.4700000000</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>2069-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.832000000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA (pfd) 6.13% 02/16/2174 Perpetual</title>
        <cusip>05946KAF8</cusip>
        <identifiers>
          <isin value="US05946KAF84"/>
          <ticker value="BBVASM"/>
          <other otherDesc="SEDOL" value="BD5W7S8"/>
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        <balance>400000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>399059.3600000000</valUSD>
        <pctVal>0.4684989830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA (pfd) 4.75% 08/12/2174 Perpetual</title>
        <cusip>05971KAH2</cusip>
        <identifiers>
          <isin value="US05971KAH23"/>
          <ticker value="SANTAN"/>
          <other otherDesc="SEDOL" value="BMG0WY5"/>
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        <balance>400000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>391837.5200000000</valUSD>
        <pctVal>0.4600204832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MPT Operating Partnership LP / MPT Finance Corp</name>
        <lei>N/A</lei>
        <title>MPT Operating Partnership LP / MPT Finance Corp 8.50 02/15/2032</title>
        <cusip>55342UAQ7</cusip>
        <identifiers>
          <isin value="US55342UAQ76"/>
          <ticker value="MPW"/>
          <other otherDesc="SEDOL" value="BTCCGD1"/>
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        <balance>103000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108068.5300000000</valUSD>
        <pctVal>0.1268733464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.500000000000000</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>MVW 2020-1 LLC</name>
        <lei>N/A</lei>
        <title>MVW 2020-1 LLC 4.21</title>
        <cusip>55400EAC3</cusip>
        <identifiers>
          <isin value="US55400EAC30"/>
          <ticker value="MVWOT"/>
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        <balance>44905.5600000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44431.0100000000</valUSD>
        <pctVal>0.0521623725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.210000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Banco Mercantil del Norte SA/Grand Cayman</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA/Grand Cayman (pfd) 5.88% 01/24/2174 Perpetual</title>
        <cusip>05973KAA5</cusip>
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          <ticker value="BANORT"/>
          <other otherDesc="SEDOL" value="BSQMYT2"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust 2024-9</name>
        <lei>N/A</lei>
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          <isin value="US16160QAK04"/>
          <ticker value="CHASE"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</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>Macquarie Bank Ltd/London</name>
        <lei>549300MPRNPO6FWNKN78</lei>
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        <cusip>556079AB7</cusip>
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          <isin value="US556079AB79"/>
          <ticker value="MQGAU"/>
          <other otherDesc="SEDOL" value="BL9B7W1"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Magallanes Inc</name>
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          <other otherDesc="SEDOL" value="BNQQBC1"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust Series 2025-9</name>
        <lei>529900II236FJ8MBXS58</lei>
        <title>Chase Home Lending Mortgage Trust Series 2025-9 5.50</title>
        <cusip>16160UAE5</cusip>
        <identifiers>
          <isin value="US16160UAE55"/>
          <ticker value="CHASE"/>
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        <balance>410000.0000000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Extended Stay America Trust 2021-ESH</name>
        <lei>N/A</lei>
        <title>Extended Stay America Trust 2021-ESH 6.73</title>
        <cusip>30227FAJ9</cusip>
        <identifiers>
          <isin value="US30227FAJ93"/>
          <ticker value="ESA"/>
          <other otherDesc="SEDOL" value="BP7L947"/>
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        <curCd>USD</curCd>
        <valUSD>313514.5300000000</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>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Magallanes Inc</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Warnermedia Holdings Inc 3.76 03/15/2027</title>
        <cusip>55903VBL6</cusip>
        <identifiers>
          <isin value="US55903VBL62"/>
          <ticker value="WBD"/>
          <other otherDesc="SEDOL" value="BV6FZ44"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mars Inc</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars Inc 4.60 03/01/2028</title>
        <cusip>571676AX3</cusip>
        <identifiers>
          <isin value="US571676AX38"/>
          <ticker value="MARS"/>
          <other otherDesc="SEDOL" value="BR4XW18"/>
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        <balance>147000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148856.7900000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000001</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>
        <name>Extended Stay America Trust 2021-ESH</name>
        <lei>N/A</lei>
        <title>Extended Stay America Trust 2021-ESH 7.33</title>
        <cusip>30227FAL4</cusip>
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          <isin value="US30227FAL40"/>
          <ticker value="ESA"/>
          <other otherDesc="SEDOL" value="BP7L8R3"/>
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        <balance>85089.6300000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85223.6600000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.327480000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Illumina Inc</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina Inc 5.80 12/12/2025</title>
        <cusip>452327AN9</cusip>
        <identifiers>
          <isin value="US452327AN93"/>
          <ticker value="ILMN"/>
          <other otherDesc="SEDOL" value="BPCPXL9"/>
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        <balance>440000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441418.6900000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mattel Inc</name>
        <lei>549300VELLG24KHTJ564</lei>
        <title>Mattel Inc 5.88 12/15/2027</title>
        <cusip>577081BD3</cusip>
        <identifiers>
          <isin value="US577081BD37"/>
          <ticker value="MAT"/>
          <other otherDesc="SEDOL" value="BKMKKY1"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Medline Borrower LP/Medline Co-Issuer Inc</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP/Medline Co-Issuer Inc 6.25 04/01/2029</title>
        <cusip>58506DAA6</cusip>
        <identifiers>
          <isin value="US58506DAA63"/>
          <ticker value="MEDIND"/>
          <other otherDesc="SEDOL" value="BQV0HY3"/>
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        <curCd>USD</curCd>
        <valUSD>229365.5400000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Illumina Inc</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina Inc 4.65 09/09/2026</title>
        <cusip>452327AQ2</cusip>
        <identifiers>
          <isin value="US452327AQ25"/>
          <ticker value="ILMN"/>
          <other otherDesc="SEDOL" value="BP4YG82"/>
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        <curCd>USD</curCd>
        <valUSD>212606.6900000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV (pfd) 5.75% 11/16/2173 Perpetual</title>
        <cusip>456837AR4</cusip>
        <identifiers>
          <isin value="US456837AR44"/>
          <ticker value="INTNED"/>
          <other otherDesc="SEDOL" value="BGMFWF3"/>
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        <balance>445000.0000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>446016.3800000000</valUSD>
        <pctVal>0.5236269121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intel Corp</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp 4.88 02/10/2026</title>
        <cusip>458140CD0</cusip>
        <identifiers>
          <isin value="US458140CD04"/>
          <ticker value="INTC"/>
          <other otherDesc="SEDOL" value="BMXHQ81"/>
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        <balance>140000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140234.8100000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mexico City Airport Trust</name>
        <lei>N/A</lei>
        <title>Mexico City Airport Trust 3.88 04/30/2028</title>
        <cusip>59284MAC8</cusip>
        <identifiers>
          <isin value="US59284MAC82"/>
          <ticker value="MEXCAT"/>
          <other otherDesc="SEDOL" value="BF0GKQ8"/>
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        <balance>272000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265893.6000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mission Lane Credit Card Master Trust</name>
        <lei>N/A</lei>
        <title>Mission Lane Credit Card Master Trust 5.41</title>
        <cusip>60510MBW7</cusip>
        <identifiers>
          <isin value="US60510MBW73"/>
          <ticker value="MLANE"/>
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        <balance>246000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248033.2400000000</valUSD>
        <pctVal>0.2911930714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.410000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OBX 2024-NQM7 Trust</name>
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        <title>OBX 2024-NQM7 Trust 6.24</title>
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          <isin value="US67119FAA12"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBX 2024-J1 Trust</name>
        <lei>N/A</lei>
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          <isin value="US67119QAE98"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>OBX 2025-J1 Trust</name>
        <lei>N/A</lei>
        <title>OBX 2025-J1 Trust 6.00</title>
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          <isin value="US673923AD03"/>
          <ticker value="OBX"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Bank NA</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
        <title>Morgan Stanley Bank NA 5.02 01/12/2029</title>
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          <isin value="US61690DK726"/>
          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-12</maturityDt>
          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust 2018-L1</name>
        <lei>N/A</lei>
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          <isin value="US61691QAN88"/>
          <ticker value="MSC"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ON Semiconductor Corp</name>
        <lei>ZV20P4CNJVT8V1ZGJ064</lei>
        <title>ON Semiconductor Corp 3.88 09/01/2028</title>
        <cusip>682189AQ8</cusip>
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          <isin value="US682189AQ81"/>
          <ticker value="ON"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OneMain Finance Corp</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp 6.13 05/15/2030</title>
        <cusip>682691AL4</cusip>
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          <isin value="US682691AL46"/>
          <ticker value="OMF"/>
          <other otherDesc="SEDOL" value="BQT2L61"/>
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        <balance>60000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60973.2900000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley 4.99 04/12/2029</title>
        <cusip>61747YFY6</cusip>
        <identifiers>
          <isin value="US61747YFY68"/>
          <ticker value="MS"/>
          <other otherDesc="SEDOL" value="BTRG6Y9"/>
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        <balance>120000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>122244.9100000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.994000000000001</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust 2018-H3</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust 2018-H3 3.00</title>
        <cusip>61767YAC4</cusip>
        <identifiers>
          <isin value="US61767YAC49"/>
          <ticker value="MSC"/>
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        <balance>22000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18320.8400000000</valUSD>
        <pctVal>0.0215088174</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000000</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>
        <name>ONNI Commerical Mortgage Trust 2024-APT</name>
        <lei>N/A</lei>
        <title>ONNI Commerical Mortgage Trust 2024-APT 5.75</title>
        <cusip>682939AA1</cusip>
        <identifiers>
          <isin value="US682939AA17"/>
          <ticker value="ONNI"/>
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        <balance>200000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.753011000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>Blue Owl Credit Income Corp 7.75 01/15/2029</title>
        <cusip>69120VAW1</cusip>
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          <isin value="US69120VAW19"/>
          <ticker value="OCINCC"/>
          <other otherDesc="SEDOL" value="BS88595"/>
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        <balance>195000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208877.3000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.750000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rocket Cos Inc</name>
        <lei>N/A</lei>
        <title>Rocket Cos Inc 6.13 08/01/2030</title>
        <cusip>77311WAA9</cusip>
        <identifiers>
          <isin value="US77311WAA99"/>
          <ticker value="RKT"/>
          <other otherDesc="SEDOL" value="BVDKGL6"/>
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        <balance>85000.0000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87518.1300000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rocket Cos Inc</name>
        <lei>N/A</lei>
        <title>Rocket Cos Inc 6.38 08/01/2033</title>
        <cusip>77311WAB7</cusip>
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          <isin value="US77311WAB72"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Blue Owl Capital Corp</name>
        <lei>2549000BD79OOCPF2L94</lei>
        <title>Blue Owl Capital Corp 3.40 07/15/2026</title>
        <cusip>69121KAE4</cusip>
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          <isin value="US69121KAE47"/>
          <ticker value="OBDC"/>
          <other otherDesc="SEDOL" value="BNDCHF7"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Blue Owl Capital Corp</name>
        <lei>2549000BD79OOCPF2L94</lei>
        <title>Blue Owl Capital Corp 5.95 03/15/2029</title>
        <cusip>69121KAH7</cusip>
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          <isin value="US69121KAH77"/>
          <ticker value="OBDC"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PK Alift Loan Funding 3 LP</name>
        <lei>N/A</lei>
        <title>PK Alift Loan Funding 3 LP 5.84</title>
        <cusip>69291VAB0</cusip>
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          <ticker value="PKAIR"/>
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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>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PNC Financial Services Group Inc/The</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The 5.10 07/23/2027</title>
        <cusip>693475BY0</cusip>
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          <other otherDesc="SEDOL" value="BRXM9G0"/>
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        <balance>365000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367163.8100000000</valUSD>
        <pctVal>0.4310533440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.102000000000000</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>PMT Loan Trust 2025-J2</name>
        <lei>N/A</lei>
        <title>PMT Loan Trust 2025-J2 5.50</title>
        <cusip>69392TAJ6</cusip>
        <identifiers>
          <isin value="US69392TAJ60"/>
          <ticker value="PMTLT"/>
        </identifiers>
        <balance>475000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>477189.6600000000</valUSD>
        <pctVal>0.5602246002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos 4.50 01/23/2026</title>
        <cusip>71654QBW1</cusip>
        <identifiers>
          <isin value="US71654QBW15"/>
          <ticker value="PEMEX"/>
          <other otherDesc="SEDOL" value="BZ8TPF3"/>
        </identifiers>
        <balance>164000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163120.7800000000</valUSD>
        <pctVal>0.1915051423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000000</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>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos 5.35 02/12/2028</title>
        <cusip>71654QCK6</cusip>
        <identifiers>
          <isin value="US71654QCK67"/>
          <ticker value="PEMEX"/>
          <other otherDesc="SEDOL" value="BJ1MRN9"/>
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        <balance>218000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213869.3600000000</valUSD>
        <pctVal>0.2510843942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000001</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>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos 5.95 01/28/2031</title>
        <cusip>71654QDE9</cusip>
        <identifiers>
          <isin value="US71654QDE98"/>
          <ticker value="PEMEX"/>
          <other otherDesc="SEDOL" value="BLNBRW7"/>
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        <balance>605000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>566024.8700000000</valUSD>
        <pctVal>0.6645178701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000000</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>Piedmont Operating Partnership LP</name>
        <lei>549300WKGDPAS39FBD10</lei>
        <title>Piedmont Operating Partnership LP 9.25 07/20/2028</title>
        <cusip>720198AG5</cusip>
        <identifiers>
          <isin value="US720198AG56"/>
          <ticker value="PDM"/>
          <other otherDesc="SEDOL" value="BNGB0Q3"/>
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        <balance>118000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>131207.0800000000</valUSD>
        <pctVal>0.1540381951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.250000000000000</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>Piedmont Operating Partnership LP</name>
        <lei>549300WKGDPAS39FBD10</lei>
        <title>Piedmont Operating Partnership LP 6.88 07/15/2029</title>
        <cusip>720198AJ9</cusip>
        <identifiers>
          <isin value="US720198AJ95"/>
          <ticker value="PDM"/>
          <other otherDesc="SEDOL" value="BLCW561"/>
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        <balance>30000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31761.0900000000</valUSD>
        <pctVal>0.0372877819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875000000000000</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>Pinnacle West Capital Corp</name>
        <lei>TWSEY0NEDUDCKS27AH81</lei>
        <title>Pinnacle West Capital Corp 5.15 05/15/2030</title>
        <cusip>723484AN1</cusip>
        <identifiers>
          <isin value="US723484AN13"/>
          <ticker value="PNW"/>
          <other otherDesc="SEDOL" value="BTZHSD7"/>
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        <balance>176000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181180.9100000000</valUSD>
        <pctVal>0.2127078841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000000</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>Provident Funding Mortgage Trust 2025-3</name>
        <lei>N/A</lei>
        <title>Provident Funding Mortgage Trust 2025-3 5.50</title>
        <cusip>74388PAD3</cusip>
        <identifiers>
          <isin value="US74388PAD33"/>
          <ticker value="PFMT"/>
        </identifiers>
        <balance>298037.1000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299701.5200000000</valUSD>
        <pctVal>0.3518520586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>Provident Funding Mortgage Trust 2024-1</name>
        <lei>N/A</lei>
        <title>Provident Funding Mortgage Trust 2024-1 5.50</title>
        <cusip>74389BAC5</cusip>
        <identifiers>
          <isin value="US74389BAC54"/>
          <ticker value="PFMT"/>
        </identifiers>
        <balance>239618.6900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241078.0600000000</valUSD>
        <pctVal>0.2830276326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000000</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>RCKT Trust 2025-PL1</name>
        <lei>N/A</lei>
        <title>RCKT Trust 2025-PL1 5.42</title>
        <cusip>74939RAD3</cusip>
        <identifiers>
          <isin value="US74939RAD35"/>
          <ticker value="RCKTL"/>
          <other otherDesc="SEDOL" value="BRT81F5"/>
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        <balance>138000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139244.9000000000</valUSD>
        <pctVal>0.1634746621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.420000000000000</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 2024-CES1</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust 2024-CES1 6.03</title>
        <cusip>749424AA5</cusip>
        <identifiers>
          <isin value="US749424AA57"/>
          <ticker value="RCKT"/>
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        <balance>178153.3800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179792.7500000000</valUSD>
        <pctVal>0.2110781728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.025000000000000</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 2024-CES3</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust 2024-CES3 6.59</title>
        <cusip>74942AAA1</cusip>
        <identifiers>
          <isin value="US74942AAA16"/>
          <ticker value="RCKT"/>
          <other otherDesc="SEDOL" value="BP9N6F1"/>
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        <balance>70299.9900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71493.1500000000</valUSD>
        <pctVal>0.0839335483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.591000000000000</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>Verus Securitization Trust 2025-4</name>
        <lei>2138009ZO3B2B5MAHZ49</lei>
        <title>Verus Securitization Trust 2025-4 5.75</title>
        <cusip>92540UAE7</cusip>
        <identifiers>
          <isin value="US92540UAE73"/>
          <ticker value="VERUS"/>
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        <balance>144354.7400000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145262.0100000000</valUSD>
        <pctVal>0.1705387989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.753000000000000</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>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global 4.95 01/15/2031</title>
        <cusip>92556HAB3</cusip>
        <identifiers>
          <isin value="US92556HAB33"/>
          <ticker value="PARA"/>
          <other otherDesc="SEDOL" value="BL66P92"/>
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        <balance>199000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197823.5100000000</valUSD>
        <pctVal>0.2322464338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000000</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>Vista Point Securitization Trust 2020-2</name>
        <lei>N/A</lei>
        <title>Vista Point Securitization Trust 2020-2 1.48</title>
        <cusip>92838TAA9</cusip>
        <identifiers>
          <isin value="US92838TAA97"/>
          <ticker value="VSTA"/>
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        <balance>48966.4000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47203.1300000000</valUSD>
        <pctVal>0.0554168643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.475000000000000</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>Vista Point Securitization Trust 2024-CES1</name>
        <lei>N/A</lei>
        <title>Vista Point Securitization Trust 2024-CES1 6.68</title>
        <cusip>92839HAA4</cusip>
        <identifiers>
          <isin value="US92839HAA41"/>
          <ticker value="VSTA"/>
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        <balance>252370.7900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255440.2700000000</valUSD>
        <pctVal>0.2998889857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.676000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust Series 2024-6</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust Series 2024-6 6.00</title>
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          <isin value="US161931AK67"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust 2025-5</name>
        <lei>529900V91KVGSU3Z1A61</lei>
        <title>Chase Home Lending Mortgage Trust 2025-5 5.50</title>
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          <isin value="US161935AE12"/>
          <ticker value="CHASE"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cherry Securitization Trust 2025-1</name>
        <lei>N/A</lei>
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          <isin value="US16473RAB06"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Inc</name>
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          <ticker value="C"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-07</maturityDt>
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      <invstOrSec>
        <name>Citibank NA</name>
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          <isin value="US17325FBN78"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust 2024-1</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust 2024-1 6.00</title>
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          <isin value="US17332CBP05"/>
          <ticker value="CMLTI"/>
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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>2054-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust 2024-CMI1</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust 2024-CMI1 5.50</title>
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          <isin value="US17332DAE40"/>
          <ticker value="CMLTI"/>
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        <balance>196818.8300000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust 2024-CMI1</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust 2024-CMI1 5.50</title>
        <cusip>17332DAL8</cusip>
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          <isin value="US17332DAL82"/>
          <ticker value="CMLTI"/>
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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>Variable</couponKind>
          <annualizedRt>5.500000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ClickLease Equipment Receivables 2024-1 Trust</name>
        <lei>N/A</lei>
        <title>ClickLease Equipment Receivables 2024-1 Trust 7.34</title>
        <cusip>18682FAB9</cusip>
        <identifiers>
          <isin value="US18682FAB94"/>
          <ticker value="CLICK"/>
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        <balance>192077.4700000000</balance>
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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>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Coinbase Global Inc</name>
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        <cusip>19260QAC1</cusip>
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          <isin value="US19260QAC15"/>
          <ticker value="COIN"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>College Ave Student Loans 2019-A LLC</name>
        <lei>N/A</lei>
        <title>College Ave Student Loans 2019-A LLC 4.46</title>
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          <isin value="US19421UAD63"/>
          <ticker value="CASL"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Comerica Inc</name>
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          <ticker value="CMA"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Concord Music Royalties LLC</name>
        <lei>N/A</lei>
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          <ticker value="TUNES"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Concord Music Royalties LLC</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2024-R01</name>
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          <isin value="US20753UAA88"/>
          <ticker value="CAS"/>
          <other otherDesc="SEDOL" value="BPDYXX7"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
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          <isin value="US225313AJ46"/>
          <ticker value="ACAFP"/>
          <other otherDesc="SEDOL" value="BYVXC43"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP 5.63 05/01/2027</title>
        <cusip>226373AQ1</cusip>
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          <ticker value="ET"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Cross 2024-H3 Mortgage Trust</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Danske Bank A/S</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DataBank Issuer</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Dell International LLC / EMC Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Delta Air Lines Inc</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Deluxe Corp</name>
        <lei>KWGNKB8TX9LE5TV29231</lei>
        <title>Deluxe Corp 8.13 09/15/2029</title>
        <cusip>248019AW1</cusip>
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          <ticker value="DLX"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <cusip>251525AX9</cusip>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Deutsche Bank AG/New York NY</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <cusip>251526BN8</cusip>
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          <ticker value="DB"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Diamond Issuer LLC</name>
        <lei>N/A</lei>
        <title>Diamond Issuer LLC 2.31</title>
        <cusip>25267TAN1</cusip>
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          <isin value="US25267TAN19"/>
          <ticker value="SHINE"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Dryden Senior Loan Fund</name>
        <lei>549300AS2O1RYPD2ED41</lei>
        <title>Dryden 30 Senior Loan Fund 6.17</title>
        <cusip>26249BAU5</cusip>
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          <ticker value="DRSLF"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>EDI ABS Issuer 1 LLC</name>
        <lei>N/A</lei>
        <title>EDI ABS Issuer 1 LLC 4.55</title>
        <cusip>268332AB9</cusip>
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          <ticker value="ECORE"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EFMT 2025-NQM3</name>
        <lei>N/A</lei>
        <title>EFMT 2025-NQM3 5.49</title>
        <cusip>26846YAB4</cusip>
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          <ticker value="EFMT"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.494000000000001</annualizedRt>
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      <invstOrSec>
        <name>ELP Commercial Mortgage Trust 2021-ELP</name>
        <lei>N/A</lei>
        <title>ELP Commercial Mortgage Trust 2021-ELP 5.60</title>
        <cusip>26863LAE4</cusip>
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          <isin value="US26863LAE48"/>
          <ticker value="ELP"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>EMD Finance LLC</name>
        <lei>529900C8KS5G529A0B76</lei>
        <title>EMD Finance LLC 4.38 10/15/2030</title>
        <cusip>26867LAP5</cusip>
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          <ticker value="MRKGR"/>
          <other otherDesc="SEDOL" value="BVMDRY6"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>EPR Properties</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties 4.50 06/01/2027</title>
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          <ticker value="EPR"/>
          <other otherDesc="SEDOL" value="BZ11Z12"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Eagle Funding Luxco Sarl</name>
        <lei>894500VDP08MVIZ6OA60</lei>
        <title>Eagle Funding Luxco Sarl 5.50 08/17/2030</title>
        <cusip>26951TAA8</cusip>
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          <ticker value="MEX"/>
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        <valUSD>206116.0500000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elanco Animal Health Inc</name>
        <lei>549300SHPNDCE059M934</lei>
        <title>ELANCO ANIMAL HEALTH INCORPORA TERM LOAN B</title>
        <cusip>28414BAF3</cusip>
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          <ticker value="ELAN"/>
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        <balance>89670.5500000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Emera Inc</name>
        <lei>NQZVQT2P5IUF2PGA1Q48</lei>
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          <ticker value="EMACN"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc 6.00 01/15/2077</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Essent Group Ltd</name>
        <lei>254900QUO860OUT6ZF83</lei>
        <title>Essent Group Ltd 6.25 07/01/2029</title>
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          <isin value="US29669JAA79"/>
          <ticker value="ESNT"/>
          <other otherDesc="SEDOL" value="BR2NPG6"/>
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        <curCd>USD</curCd>
        <valUSD>178457.8700000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Westar Energy Inc</name>
        <lei>J75GNWGEO73W89ZV3S44</lei>
        <title>Evergy Kansas Central Inc 4.70 03/13/2028</title>
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          <isin value="US30036FAE16"/>
          <ticker value="EVRG"/>
          <other otherDesc="SEDOL" value="BS80V93"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Excelerate Energy LP</name>
        <lei>LGL4IE90TNTFYJ55BK06</lei>
        <title>Excelerate Energy LP 0.00 05/15/2030</title>
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          <isin value="US30069UAA60"/>
          <ticker value="EXCENE"/>
          <other otherDesc="SEDOL" value="BSTS0Z5"/>
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        <balance>57000.0000000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>F&amp;G Annuities &amp; Life Inc</name>
        <lei>N/A</lei>
        <title>F&amp;G Annuities &amp; Life Inc 6.50 06/04/2029</title>
        <cusip>30190AAF1</cusip>
        <identifiers>
          <isin value="US30190AAF12"/>
          <ticker value="FG"/>
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        <balance>350000.0000000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA 4.20 06/01/2032</title>
        <cusip>46115HBQ9</cusip>
        <identifiers>
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          <ticker value="ISPIM"/>
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        <balance>434000.0000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.198000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IQVIA Inc</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA Inc 5.00 05/15/2027</title>
        <cusip>46266TAA6</cusip>
        <identifiers>
          <isin value="US46266TAA60"/>
          <ticker value="IQV"/>
          <other otherDesc="SEDOL" value="BK62T46"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust Series 2025-NQM2</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2025-NQM2 5.57</title>
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        <identifiers>
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          <ticker value="JPMMT"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust 2024-9</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2024-9 5.50</title>
        <cusip>46593DAK3</cusip>
        <identifiers>
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          <ticker value="JPMMT"/>
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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>Variable</couponKind>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust 2024-1</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2024-1 6.00</title>
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          <isin value="US46657PAD50"/>
          <ticker value="JPMMT"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust Series 2024-6</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2024-6 6.00</title>
        <cusip>46657YAF1</cusip>
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          <ticker value="JPMMT"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust Series 2024-8</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2024-8 5.50</title>
        <cusip>46658GAB8</cusip>
        <identifiers>
          <isin value="US46658GAB86"/>
          <ticker value="JPMMT"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust Series 2024-8</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2024-8 5.50</title>
        <cusip>46658GAK8</cusip>
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          <isin value="US46658GAK85"/>
          <ticker value="JPMMT"/>
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        <balance>113488.1600000000</balance>
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        <curCd>USD</curCd>
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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>Variable</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust 2024-INV1</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2024-INV1 6.00</title>
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        <identifiers>
          <isin value="US46658PAD42"/>
          <ticker value="JPMMT"/>
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        <curCd>USD</curCd>
        <valUSD>138635.6200000000</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>2055-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust Series 2024-5</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2024-5 6.00</title>
        <cusip>46658RAF5</cusip>
        <identifiers>
          <isin value="US46658RAF55"/>
          <ticker value="JPMMT"/>
        </identifiers>
        <balance>78678.8700000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79203.4400000000</valUSD>
        <pctVal>0.0929854924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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 2024-11</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2024-11 6.00</title>
        <cusip>46659AAD6</cusip>
        <identifiers>
          <isin value="US46659AAD63"/>
          <ticker value="JPMMT"/>
        </identifiers>
        <balance>253324.1900000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257001.6200000000</valUSD>
        <pctVal>0.3017220235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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 2024-11</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2024-11 6.00</title>
        <cusip>46659AAJ3</cusip>
        <identifiers>
          <isin value="US46659AAJ34"/>
          <ticker value="JPMMT"/>
        </identifiers>
        <balance>235405.3100000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>237268.9400000000</valUSD>
        <pctVal>0.2785556943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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 Series 2025-CCM2</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2025-CCM2 6.00</title>
        <cusip>46659EAE6</cusip>
        <identifiers>
          <isin value="US46659EAE68"/>
          <ticker value="JPMMT"/>
        </identifiers>
        <balance>415427.4800000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>422099.0000000000</valUSD>
        <pctVal>0.4955477106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000000</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>KKR CLO Trust</name>
        <lei>549300N7FISC1W1QKR21</lei>
        <title>KKR CLO 10 Ltd 6.28</title>
        <cusip>48250GAS9</cusip>
        <identifiers>
          <isin value="US48250GAS93"/>
          <ticker value="KKR"/>
        </identifiers>
        <balance>91142.2000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91207.6100000000</valUSD>
        <pctVal>0.1070784871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.280080000000000</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>Kilroy Realty LP</name>
        <lei>5493008CT3N3JR7P1552</lei>
        <title>Kilroy Realty LP 4.25 08/15/2029</title>
        <cusip>49427RAK8</cusip>
        <identifiers>
          <isin value="US49427RAK86"/>
          <ticker value="KRC"/>
          <other otherDesc="SEDOL" value="BPRW702"/>
        </identifiers>
        <balance>330000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>322560.0800000000</valUSD>
        <pctVal>0.3786881968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000000</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>Kilroy Realty LP</name>
        <lei>5493008CT3N3JR7P1552</lei>
        <title>Kilroy Realty LP 3.05 02/15/2030</title>
        <cusip>49427RAP7</cusip>
        <identifiers>
          <isin value="US49427RAP73"/>
          <ticker value="KRC"/>
          <other otherDesc="SEDOL" value="BKLMSM2"/>
        </identifiers>
        <balance>55000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50610.7200000000</valUSD>
        <pctVal>0.0594174031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.050000000000000</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>Kyndryl Holdings Inc</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings Inc 2.70 10/15/2028</title>
        <cusip>50155QAK6</cusip>
        <identifiers>
          <isin value="US50155QAK67"/>
          <ticker value="KD"/>
          <other otherDesc="SEDOL" value="BNTFC77"/>
        </identifiers>
        <balance>242000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230171.9200000000</valUSD>
        <pctVal>0.2702237342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000000</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>Lmrk Issuer Co 2 LLC</name>
        <lei>549300TATF7H68SRLE80</lei>
        <title>Lmrk Issuer Co 2 LLC 5.52</title>
        <cusip>50209AAH4</cusip>
        <identifiers>
          <isin value="US50209AAH41"/>
          <ticker value="LMRK"/>
        </identifiers>
        <balance>288000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290673.9600000000</valUSD>
        <pctVal>0.3412536287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.520000000000000</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>Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp</name>
        <lei>N/A</lei>
        <title>Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 7.00 07/15/2031</title>
        <cusip>505742AR7</cusip>
        <identifiers>
          <isin value="US505742AR75"/>
          <ticker value="LADR"/>
          <other otherDesc="SEDOL" value="BL56C47"/>
        </identifiers>
        <balance>234000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246203.1000000000</valUSD>
        <pctVal>0.2890444719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000000</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>Lamar Media Corp</name>
        <lei>N/A</lei>
        <title>Lamar Media Corp 3.75 02/15/2028</title>
        <cusip>513075BR1</cusip>
        <identifiers>
          <isin value="US513075BR18"/>
          <ticker value="LAMR"/>
          <other otherDesc="SEDOL" value="BMXWTN2"/>
        </identifiers>
        <balance>235000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228665.9700000000</valUSD>
        <pctVal>0.2684557365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000000</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>Liberty Mutual Group Inc</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group Inc 4.13 12/15/2051</title>
        <cusip>53079EBM5</cusip>
        <identifiers>
          <isin value="US53079EBM57"/>
          <ticker value="LIBMUT"/>
          <other otherDesc="SEDOL" value="BLNL7Z0"/>
        </identifiers>
        <balance>296000.0000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290440.6100000000</valUSD>
        <pctVal>0.3409796738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.125000000000000</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>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>MARKIT CDX.NA.HY.44 06/30</title>
        <cusip>SPED05UQ1</cusip>
        <identifiers>
          <ticker value="/CDS"/>
          <other otherDesc="Internal ID" value="SPED05UQ1"/>
        </identifiers>
        <balance>2700000.0000000000</balance>
        <units>OU</units>
        <descOthUnits>Swap Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-194493.4700000002</valUSD>
        <pctVal>-0.2283369394</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Markit CDX North America High Yield Index</issuerName>
                <issueTitle>Markit CDX North America High Yield Index Series 44</issueTitle>
                <identifiers>
                  <ticker value="CDX.NA.HY"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Markit CDX North America High Yield Index Series 44" floatingRtSpread="0.000000000000" pmntAmt="0.000000000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="-27750.0000000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.000000000000"/>
            <terminationDt>2030-06-20</terminationDt>
            <upfrontPmnt>0.000000000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>190380.990000000220</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>2700000.0000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-4112.4800000000105</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-10-28</ncom:dateSigned>
      <ncom:nameOfApplicant>American Century ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Amy R. Bitter</ncom:signature>
      <ncom:signerName>Amy R. Bitter</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
