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        <name>Philip Morris International Inc.</name>
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        <name>WOODWARD CAPITAL MANAGEMENT</name>
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        <name>Tcw Clo 2020-1 Ltd / Tcw Clo 2020-1 LLC</name>
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        <name>Alimentation Couche-Tard Inc.</name>
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        <name>BALBOA BAY LOAN FUNDING 2023-1 LTD</name>
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        <name>TRINITAS CLO VI LTD</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>SVENSKA HANDELSBANKEN AB NEW YORK BRANCH</name>
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        <name>Mountain View CLO 2013-1 Ltd.</name>
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        <name>Gallagher Aj &amp;Co</name>
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        <name>Pacific Life Global Funding II</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>Rio Tinto Finance (USA) plc</name>
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        <name>BANK5 2024-5YR7</name>
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        <name>WESTPAC BANKING CORP NEW YORK BRANCH</name>
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        <name>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
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        <name>OBX 2025-NQM4 TRUST</name>
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        <name>Lowes Companies, Inc.</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>AstraZeneca Finance LLC</name>
        <lei>549300C3HATU4Q460S18</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Shackleton 2015-VII-R CLO Ltd.</name>
        <lei>549300NCJRO2LKFZ8G86</lei>
        <title>SHACK 2015-7RA ARR</title>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>National Australia Bank Ltd.</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>NAB F 10/26/27 144A</title>
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        <balance>20000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS 4.125 04/15/26 144A</title>
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        <balance>10000000.00000000</balance>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BMO 2024-5C6 MORTGAGE TRUST</name>
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        <name>Carrier Global Corporation</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corporation 0% CP 27/03/2026</title>
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        <name>NMEF FUNDING 2026-A LLC</name>
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        <name>Rio Tinto Finance (USA) plc</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>RIOLN 4.375 03/12/27</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

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          <couponKind>Fixed</couponKind>
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        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>STT 4.536 02/28/28</title>
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        <name>Virginia Electric and Power Company</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Company 0% CP 10/03/2026</title>
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          <couponKind>None</couponKind>
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        <name>UK CLEARING HOUSE LIMITED</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS USD</title>
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        <name>Royal Bank of Canada</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>DBJPM 2016-C3 Mortgage Trust</name>
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        <name>Citigroup Commercial Mortgage Trust 2017-P7</name>
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        <name>Bank Of America Merrill Lynch Commercial Mortgage Trust 2016-Ubs10</name>
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        <name>Southern California Edison Company</name>
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        <name>Sempra</name>
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        <name>BENCHMARK 2023-V2 MORTGAGE TRUST</name>
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        <name>Cross 2025-H8 Mortgage Trust</name>
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        <name>Morgan Stanley Bank Of America Merrill Lynch Trust</name>
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        <name>DTE Energy Co.</name>
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        <name>ING US FUNDING LLC</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <name>Hyundai Capital America</name>
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        <name>ENTERPRISE FLEET FINANCING 2022-3 L</name>
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        <name>Healthpeak Properties Inc</name>
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        <name>HOMES TR 2025-NQM2</name>
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        <name>Daimler Trucks Finance North America LLC</name>
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        <name>Sempra</name>
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        <name>Carrier Global Corporation</name>
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        <name>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>Mars Inc.</name>
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        <name>TORONTO DOMINION BANK NEW YORK BRANCH</name>
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        <title>TD F 04/23/26 YCD</title>
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        <name>American Honda Finance Corporation</name>
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        <name>Cisco Systems, Inc.</name>
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        <name>Siemens Funding BV</name>
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        <name>Pacific Life Global Funding II</name>
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        <title>PACLIF F 02/04/27 144A</title>
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        <name>NextEra Energy Capital Holdings Inc</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEE F 02/04/28</title>
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        <name>Schlumberger Holdings Corporation</name>
        <lei>529900IKZG65COT1D505</lei>
        <title>SLB 5 05/29/27 144A</title>
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        <name>BENCHMARK 2023-V3 MORTGAGE TRUST</name>
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        <name>CBRE Services Inc</name>
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        <name>Smith &amp; Nephew PLC</name>
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        <name>BANK5 2023-5YR1</name>
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        <cusip>06644EAB4</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-04-17</maturityDt>
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        <name>OCP CLO 2015-9 LTD</name>
        <lei>254900XV0U0WEM36A370</lei>
        <title>OCP 2015-9A AR3</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <title>IRS USD</title>
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        <name>NTT Finance Corp</name>
        <lei>3538007PR116187GD960</lei>
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        <name>National Bank of Canada</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
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        <name>Madison Park Funding LII LTD / LLC</name>
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        <invCountry>KY</invCountry>
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        <name>NextEra Energy Capital Holdings Inc</name>
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        <name>ING US FUNDING LLC</name>
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        <name>ONEMAIN FINL ISSUA TR 2023-2</name>
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        <title>OMFIT 2023-2A A1</title>
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        <name>Metropolitan Life Global Funding I</name>
        <lei>635400MMSOCXNNNZDZ82</lei>
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        <name>Corebridge Global Funding</name>
        <lei>54930057MDZ7KOVOTV71</lei>
        <title>CRBG F 09/25/26 144A</title>
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        <invCountry>US</invCountry>
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        <name>KKR CLO 41 Ltd/LLC</name>
        <lei>254900UD92WBBLUHGZ35</lei>
        <title>KKR 2022-41A A1</title>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sculptor CLO Ltd</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Healthpeak Properties Inc</name>
        <lei>254900M6MTMZM0I22L81</lei>
        <title>Healthpeak Properties Inc 0% CP 25/03/2026</title>
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          <isin value="US42250RCR84"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
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        <name>Morgan Stanley Bank Of America Merrill Lynch Trust</name>
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        <name>Csail 2016-C6 Commercial Mortg</name>
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        <name>Enbridge Inc.</name>
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        <name>HPS Loan Management 10-2016 Ltd.</name>
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        <name>TRANSCANADA PIPELINES LTD</name>
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        <name>ARI FLEET LEASE TRUST 2024-A</name>
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        <name>Boardwalk Pipelines LP</name>
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        <name>NORDEA BANK ABP NEW YORK BRANCH</name>
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        <title>AOMT 2025-12 A1</title>
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        <name>EOG Resources Inc.</name>
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        <name>Chevron USA Inc</name>
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        <name>Bunge Ltd Finance Corp.</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Southern California Edison Company</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>Jpmdb Commercial Mortgage Securities Trust 2016 C4</name>
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        <name>Bank of Nova Scotia</name>
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        <name>Howmet Aerospace Inc</name>
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        <name>SVENSKA HANDELSBANKEN AB NEW YORK BRANCH</name>
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        <name>Keurig Dr Pepper Inc</name>
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        <name>Rockford Tower Clo 2017-3 Ltd</name>
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        <name>Comm 2017-Panw Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Schlumberger Holdings Corporation</name>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust 2017-HR2</name>
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          <couponKind>Fixed</couponKind>
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        <name>SREIT COMMERCIAL MORTGAGE TRUST 202</name>
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        <name>CFCRE 2016-C6 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Siemens Funding BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Life Global Funding I</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-11</maturityDt>
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        <name>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
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        <title>GSMS 2019-GC38 AAB</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Lowes Companies, Inc.</name>
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        <name>ROYAL BANK OF CANADA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP PARIBAS SA NEW YORK BRANCH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VENTURE 34 CLO LTD</name>
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        <title>VENTR 2018-34A AR</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Storage Operating Co.</name>
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        <name>ONE Gas, Inc.</name>
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        <title>ONE Gas, Inc. 0% CP 11/03/2026</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Intel Corporation</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTC 2.6 05/19/26</title>
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        <name>BMO 2024-5C5 MORTGAGE TRUST</name>
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        <title>BMO 2024-5C5 A3</title>
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        <name>Ryder System, Inc.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>R 5.3 03/15/27 MTN</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <name>Phillips 66</name>
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        <name>Diageo Capital PLC</name>
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        <name>Paccar Financial Corp</name>
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        <name>OBX Trust 2026-NQM2</name>
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        <name>Oneok Inc.</name>
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        <title>OKE 5.55 11/01/26</title>
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        <name>BOFA SECURITIES INC</name>
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        <name>Agilent Technologies Inc.</name>
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        <title>A 4.2 09/09/27</title>
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        <name>Bank 2018-Bnk10</name>
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        <name>American Express Company</name>
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        <name>COLT 2025-12 MORTGAGE LOAN TRUST</name>
        <lei>213800A53WDNKWGEVL75</lei>
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        <name>Natwest Markets PLC</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NWG 4.174 11/06/28 144A</title>
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        <name>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>CAT 4.35 05/15/26 DMTN</title>
        <cusip>14913UAA8</cusip>
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        <name>Amphenol Corporation</name>
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        <name>Philip Morris International Inc.</name>
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        <name>CSAIL 2017-C8 Commercial Mortgage Trust</name>
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        <name>Georgia Power Company</name>
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        <name>Citigroup Commercial Mortgage Trust 2016-C2</name>
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        <name>GlaxoSmithKline Capital Inc.</name>
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        <name>E.ON SE</name>
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        <name>Morgan Stanley Bank Of America Merrill Lynch Trust</name>
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        <name>Realty Income Corporation</name>
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        <name>RR 1 LTD</name>
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        <name>Target Corp.</name>
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        <name>Federation des Caisses Desjardins du Quebec</name>
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        <name>NextEra Energy Capital Holdings Inc</name>
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        <name>John Deere Capital Corp.</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>Bank of Montreal</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AbbVie Inc.</name>
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        <name>State Street Corp.</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <title>AESOP 2023-7A A</title>
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        <name>Zoetis Inc.</name>
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        <name>BENCHMARK 2024-V8 MORTGAGE TRUST</name>
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        <name>ROMARK CLO II LTD</name>
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        <name>Mondelez International, Inc.</name>
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        <name>MARATHON CLO 2021-16 LTD</name>
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        <name>Sound Pt Clo Xxi Ltd / Llc</name>
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        <name>Ford Credit Auto Owner Trust 2014-A</name>
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        <name>CANADIAN IMPERIAL BANK OF COMMERCE NEW YORK BRANCH</name>
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        <name>VENTURE 37 CLO LTD</name>
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        <name>SWEDBANK AB</name>
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        <name>Citigroup Commercial Mortgage Trust 2020-Gc46</name>
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        <name>Bank 2019-BN17 C</name>
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        <name>BMO 2023-5C2 MORTGAGE TRUST</name>
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        <name>Voya Clo Ltd 2013-3R</name>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>Home Depot Inc.</name>
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        <name>Honeywell International Inc.</name>
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        <name>Bank of Montreal Chicago Branch</name>
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        <name>Phillips 66</name>
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        <name>Ares XLIV CLO Ltd.</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>UBS Group AG</name>
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        <name>COOPERATIEVE RABOBANK UA NEW YORK BRANCH</name>
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        <name>Fiserv Inc.</name>
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        <name>ERP Operating Limited Partnership</name>
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        <name>Citigroup Commercial Mortgage Trust 2016 P6</name>
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        <name>BRAVO RESIDENTIAL FUNDING TRUST 2022-NQM3</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>Phillips 66</name>
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        <name>Gmf Floorplan Owner Revolving Trust</name>
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        <name>General Motors Financial Company Inc</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>ICE 3.95 12/01/28</title>
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          <isin value="US45865VAA89"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>WELLFLEET CLO 2021-3 LTD</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>SVENSKA HANDELSBANKEN AB NEW YORK BRANCH</name>
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        <name>Accenture Capital Inc.</name>
        <lei>254900FRO0P7RIINYT25</lei>
        <title>ACN 3.9 10/04/27</title>
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        <name>Cd 2016-Cd2 Mortga</name>
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          <couponKind>Fixed</couponKind>
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        <name>ENTERPRISE FLEET FINANCING 2024-1 L</name>
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          <couponKind>Fixed</couponKind>
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        <name>Trinitas Clo XVI Ltd.</name>
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        <title>TRNTS 2021-16A A1R</title>
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        <name>Phillips 66 Co.</name>
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        <title>PSX 3.55 10/01/26</title>
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        <name>Cisco Systems, Inc.</name>
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        <name>VW CREDIT INC</name>
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        <name>COOPERATIEVE RABOBANK UA NEW YORK BRANCH</name>
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        <title>RABOBK F 03/05/27</title>
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      <invstOrSec>
        <name>Ubs Commercial Mortgage Trust 2017 C1</name>
        <lei>N/A</lei>
        <title>UBSCM 2017-C4 A3</title>
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        <name>Intuit Inc</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit Inc 0% CP 03/03/2026</title>
        <cusip>46092BC39</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>JAMESTOWN CLO LTD 2016-9</name>
        <lei>254900NFTK4YH0WYT485</lei>
        <title>JTWN 2016-9A A1R3</title>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sound Point Clo XXII Ltd.</name>
        <lei>N/A</lei>
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        <name>International Business Machines Corp.</name>
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        <name>Weyerhaeuser Company</name>
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        <name>Imperial Brands Finance Plc</name>
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        <name>New York Life Global Funding</name>
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        <name>RTX Corp.</name>
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        <name>E.ON SE</name>
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        <name>AGL CLO 22 LTD/LLC</name>
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        <name>CANYON CLO 2017-1 LTD</name>
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        <name>Nutrien Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marsh &amp; McLennan Companies, Inc.</name>
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        <name>Oneok Inc.</name>
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        <name>Agree LP</name>
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        <balance>30000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>VW CREDIT INC</name>
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        <name>Alliant Energy Finance LLC</name>
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        <name>SKANDINAVISKA ENSKILDA BANKEN AB</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Westpac Banking Corp.</name>
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        <name>BATTALION CLO XXI LTD</name>
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        <name>American Honda Finance Corporation</name>
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        <title>HNDA F 12/11/26 MTN</title>
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        <name>The Toronto-Dominion Bank</name>
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        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace Inc 0% CP 03/03/2026</title>
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        <name>Ventas Realty Limited Partnership</name>
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        <title>VTR 4 03/01/28</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Owens Corning</name>
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        <curCd>USD</curCd>
        <valUSD>8122416.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>HWM 3.75 03/03/28</title>
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          <isin value="US443201AF51"/>
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        <balance>14400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14383989.23000000</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>2028-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>VERUS SECURITIZATION TRUST 2026-1</name>
        <lei>2138009KJR7Q44BI8668</lei>
        <title>VERUS 2026-1 A1</title>
        <cusip>92541JAF8</cusip>
        <identifiers>
          <isin value="US92541JAF84"/>
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        <balance>13901327.85000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13970213.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2071-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.86300000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alimentation Couche-Tard Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard Inc. 0% CP 05/03/2026</title>
        <cusip>01626VC50</cusip>
        <identifiers>
          <isin value="US01626VC508"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24983857.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-05</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amrize Finance US LLC</name>
        <lei>529900FB2F1WKLFNGY62</lei>
        <title>Amrize Finance US LLC 0% CP 17/03/2026</title>
        <cusip>43475GCH1</cusip>
        <identifiers>
          <isin value="US43475GCH11"/>
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        <balance>8500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8483752.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-17</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Alimentation Couche-Tard Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard Inc. 0% CP 07/04/2026</title>
        <cusip>01626VD75</cusip>
        <identifiers>
          <isin value="US01626VD753"/>
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        <balance>30000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29873154.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-07</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Express Company</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AXP F 02/09/29</title>
        <cusip>025816EQ8</cusip>
        <identifiers>
          <isin value="US025816EQ80"/>
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        <balance>24500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24508182.69000000</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>2029-02-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.25417100</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jefferies Financial Group Inc</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>JEF 4.3 02/11/27 MTN</title>
        <cusip>47233WLT4</cusip>
        <identifiers>
          <isin value="US47233WLT44"/>
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        <balance>30000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30029357.70000000</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>2027-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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>WHITEBOX CLO III LTD</name>
        <lei>549300JXCQSPB1A61C68</lei>
        <title>WBOX 2021-3A A1R</title>
        <cusip>96467HAL0</cusip>
        <identifiers>
          <isin value="US96467HAL06"/>
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        <balance>16100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16104145.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.94219000</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>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>NYLIFE F 06/11/27 144A</title>
        <cusip>64953BBY3</cusip>
        <identifiers>
          <isin value="US64953BBY39"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40086322.00000000</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>2027-06-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.24626000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>International Business Machines Corp.</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>IBM 3.3 05/15/26</title>
        <cusip>459200JZ5</cusip>
        <identifiers>
          <isin value="US459200JZ55"/>
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        <balance>26510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26463490.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4.125 11/15/27</title>
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        <identifiers>
          <isin value="US91282CLX73"/>
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        <balance>31000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31359648.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>HWM 3.9 04/15/29</title>
        <cusip>443201AG3</cusip>
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        <valUSD>6206667.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Daimler Trucks Finance North America LLC</name>
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        <title>DTRGR 4.3 08/12/27 144A</title>
        <cusip>233853BG4</cusip>
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          <isin value="US233853BG48"/>
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        <balance>11200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11264457.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VW 5.05 03/27/28 144A</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>The Toronto-Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD F 10/13/28</title>
        <cusip>89115KAF7</cusip>
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        <balance>17500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17521001.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.41493700</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust 2018-L1</name>
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        <title>MSC 2018-L1 ASB</title>
        <cusip>61691QAC2</cusip>
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        <balance>1917236.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1922130.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Nutrien Ltd</name>
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        <name>Bank 2017-Bnk5 206</name>
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      <invstOrSec>
        <name>Bravo Residential Funding Trust 2025-NQM6</name>
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        <name>MTN COML MTG TR 2022-LPFL</name>
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        <name>NTT Finance Americas Inc.</name>
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        <name>Imperial Brands Finance Plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <title>ARE 3.8 04/15/26</title>
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        <name>Sempra</name>
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        <name>NTT Finance Americas Inc.</name>
        <lei>5493002G2563PEW0DU90</lei>
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        <name>Deutsche Bank Commercial Mortgage Trust</name>
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        <name>Amrize Finance US LLC</name>
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        <name>Alimentation Couche-Tard Inc.</name>
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        <name>John Deere Capital Corp.</name>
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        <name>Pfizer Investment Enterprises Pte Ltd.</name>
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        <name>SWEDBANK AB NEW YORK BRANCH</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ERP Operating Limited Partnership</name>
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        <name>GALAXY XXV CLO LTD</name>
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        <name>GS Mortgage Securities Trust 2016-GS4</name>
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        <name>Jp Morgan Mortgage Trust 2025-HE3</name>
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        <name>E.ON SE</name>
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        <name>MARBLE POINT CLO LTD 2021-21</name>
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        <name>AMERICAN HONDA FINANCE CORP</name>
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        <name>Alphabet Inc.</name>
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        <title>GOOGL 3.875 11/15/28</title>
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        <name>ICG US CLO 2020-1 Ltd.</name>
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        <name>Battalion Clo Xii Ltd</name>
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        <name>GS Mortgage Securities Trust 2016-GS4</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>The Toronto-Dominion Bank</name>
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        <name>Cargill Inc.</name>
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        <name>LSEG US Finance Corp</name>
        <lei>2138007FV67QQ13CGJ43</lei>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>CD 2017 Cd3 Mortgage Trust</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amazon.com, Inc.</name>
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        <name>Natixis New York Branch</name>
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        <name>SARATOGA INVESTMENT CORP CLO 2013-1 LTD</name>
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        <name>Glencore Funding LLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLFLEET CLO 2021-1 LTD</name>
        <lei>2549004R1NTM2HJCGO78</lei>
        <title>WELF 2021-1A A1R</title>
        <cusip>94950CAL0</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Jpmbb Commercial Mortgage Securities Trust 2014-C24</name>
        <lei>N/A</lei>
        <title>JPMBB 2014-C24 A5</title>
        <cusip>46643GAE0</cusip>
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          <isin value="US46643GAE08"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jefferies Financial Group Inc</name>
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          <isin value="US47233WKS79"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barings Issuer LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>SBUX 4.85 02/08/27</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Corebridge Global Funding</name>
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        <balance>25000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO 2013-2 Ltd</name>
        <lei>5493007ASGBOUR3XJY69</lei>
        <title>INGIM 2013-2A A1R</title>
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          <isin value="US92916WAA71"/>
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        <balance>48773.01000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KKR CLO 40 LTD</name>
        <lei>254900VNK6ZR909DTL30</lei>
        <title>KKR 40A AR</title>
        <cusip>48254UAE5</cusip>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Bravo Residential Funding Trust 2025-NQM7</name>
        <lei>254900I1LYOO3G3UAT10</lei>
        <title>BRAVO 2025-NQM7 A1</title>
        <cusip>10570TAP0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>ENTERPRISE FLEET FINANCING 2023-2 L</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYNMTR F 03/19/27 144A</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Toyota Motor Credit Corp.</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>TOYOTA F 08/07/26</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>OBX 2025-NQM21 TRUST</name>
        <lei>254900E5OS34AOMYSY84</lei>
        <title>OBX 2025-NQM21 A1</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>BRAVO RESIDENTIAL FUNDING TRUST 2025-CES3</name>
        <lei>254900E8SFNM64X0JQ70</lei>
        <title>BRAVO 2025-CES3 A1A</title>
        <cusip>10570AAB2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66 0% CP 27/03/2026</title>
        <cusip>71855BCT7</cusip>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>ROYAL BANK OF CANADA NEW YORK BRANCH</name>
        <lei>549300HXQQQCCUBS2Z23</lei>
        <title>RY F 12/07/26 YCD</title>
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        <assetCat>STIV</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>CSMC 2020-West</name>
        <lei>N/A</lei>
        <title>CSMC 2019-RPL1 A1A</title>
        <cusip>12596MAB2</cusip>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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        <name>Rockford Tower Clo 2019-1 Ltd / Llc</name>
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        <name>Merck &amp; Co., Inc</name>
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        <name>Sempra</name>
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        <name>Keurig Dr Pepper Inc</name>
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        <name>ONE Gas, Inc.</name>
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        <name>The Toronto-Dominion Bank</name>
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        <name>Corebridge Global Funding</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Principal Life Global Funding II</name>
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        <name>Phillips 66</name>
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        <name>Madison Park Funding XLV Ltd/Llc</name>
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        <name>BANK OF NOVA SCOTIA (THE)</name>
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        <name>720 EAST CLO 2023-II LTD</name>
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        <name>Amphenol Corporation</name>
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        <name>PGIM ETF Trust</name>
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        <name>ENTERPRISE FLEET FINANCING 2023-3 L</name>
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        <name>The Toronto-Dominion Bank</name>
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        <name>Octagon 64 Ltd. / Octagon 64 LLC</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>WEA Finance LLC</name>
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        <name>Hershey Co. (The)</name>
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        <name>CANADIAN IMPERIAL BANK OF COMMERCE NEW YORK BRANCH</name>
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        <name>Wells Fargo Commercial Mortgage Trust 2012-Lc5</name>
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        <name>(PIPA070) PGIM Core Government Money Market Fund</name>
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        <name>Amrize Finance US LLC</name>
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        <name>TOWD POINT MORTGAGE TRUST 2018-2</name>
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        <name>BAYER CORP</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>J P MORGAN MORTGAGE TRUST 2024-HE2</name>
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        <name>National Australia Bank Ltd.</name>
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        <name>Jamestown Clo XIV Ltd / Corp</name>
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        <name>Protective Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Home Depot Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-25</maturityDt>
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        <name>3650R 2021-PF1 COMMERCIAL MORTGAGE</name>
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        <name>Microchip Technology Incorporated</name>
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        <name>ABN AMRO Bank N.V.</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>CLOVER CLO 2021-3 LLC</name>
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        <name>Citigroup Commercial Mortgage Trust 2016-C2</name>
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        <name>PPG Industries, Inc.</name>
        <lei>549300BKPEP01R3V6C59</lei>
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        <name>Comcast Corporation</name>
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        <name>Wells Fargo Coml T</name>
        <lei>549300CFP9NBBMZH1008</lei>
        <title>WFCM 2016-NXS6 A4</title>
        <cusip>95000KBB0</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>Regatta VII Funding Ltd</name>
        <lei>549300DA6HSLI0UPTQ25</lei>
        <title>Regatta VII Funding Ltd</title>
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        <balance>50000000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>ENTERPRISE FLEET FIN 2021-1</name>
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        <name>KKR CLO 11 LTD</name>
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        <name>PALMER SQUARE LOAN 2024-2</name>
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        <name>CIFC FUNDING 2021-VII LTD</name>
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        <name>BX Trust 2018-Bilt</name>
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        <name>Canyon CLO 2016-1 Ltd / Canyon CLO 2016-1 LLC</name>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings Inc</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VOYA CLO LTD</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VW 4.45 09/11/27 144A</title>
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          <isin value="US928668CV22"/>
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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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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
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        <title>CSCO 2.95 02/28/26</title>
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          <isin value="US17275RBC51"/>
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        <curCd>USD</curCd>
        <valUSD>19573000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Lowes Companies, Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOW 3.95 10/15/27</title>
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          <isin value="US548661ET01"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra 0% CP 18/03/2026</title>
        <cusip>81686NCJ7</cusip>
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          <isin value="US81686NCJ72"/>
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        <balance>10500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10478736.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANGEL OAK MORTGAGE TRUST 2025-13</name>
        <lei>254900E0MZH4LYHYEK54</lei>
        <title>AOMT 2025-13 A1</title>
        <cusip>034952AC5</cusip>
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          <isin value="US034952AC52"/>
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        <balance>8988628.14000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9015332.46000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-10-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>National Securities Clearing Corp.</name>
        <lei>549300RYC9NELN2ICA34</lei>
        <title>NSCCLF 4.35 05/20/27 144A</title>
        <cusip>637639AN5</cusip>
        <identifiers>
          <isin value="US637639AN50"/>
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        <balance>29250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29458159.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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      <invstOrSec>
        <name>UK CLEARING HOUSE LIMITED</name>
        <lei>213800O8SCO4XJGBU385</lei>
        <title>IRS USD</title>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>22636.60000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oneok Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>OKE 4 07/13/27</title>
        <cusip>682680AS2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CANADIAN IMPERIAL BANK OF COMMERCE NEW YORK BRANCH</name>
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        <title>CM F 05/08/26 YCD</title>
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          <isin value="US13606DHZ87"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Nordea Bank ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>NDAFH F 03/19/27 144A</title>
        <cusip>65558RAF6</cusip>
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        <invCountry>FI</invCountry>
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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-BNK1</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>Fortive Corporation</name>
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        <title>FTV 3.15 06/15/26</title>
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        <balance>25000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities, Inc. 0% CP 13/03/2026</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Nordea Bank ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>NDAFH F 03/17/28 144A</title>
        <cusip>65558RAM1</cusip>
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        <curCd>USD</curCd>
        <valUSD>20082522.00000000</valUSD>
        <pctVal>0.141406919749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.37014000</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 Express Company</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AXP V5.645 04/23/27</title>
        <cusip>025816DT3</cusip>
        <identifiers>
          <isin value="US025816DT39"/>
        </identifiers>
        <balance>34206000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34281587.24000000</valUSD>
        <pctVal>0.241386697135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.64500000</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>Metropolitan Life Global Funding I</name>
        <lei>635400MMSOCXNNNZDZ82</lei>
        <title>MET 4.15 08/25/28 144A</title>
        <cusip>592179KR5</cusip>
        <identifiers>
          <isin value="US592179KR57"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15106067.22000000</valUSD>
        <pctVal>0.106366243995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-23</ncom:dateSigned>
      <ncom:nameOfApplicant>PGIM ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Christian J. Kelly</ncom:signature>
      <ncom:signerName>Christian J. Kelly</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
