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        <name>Kinross Gold Corp.</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>BPCE SA</name>
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        <name>Cox Communications, Inc.</name>
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        <name>Oneok Inc.</name>
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        <name>Sally Holdings LLC</name>
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        <name>Nutrien Ltd</name>
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        <name>Pacific Gas and Electric Company</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>CAS 2022-R03 1B1</title>
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        <name>STREAM INNOVATIONS 2025-1 ISSUER TRUST</name>
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        <name>Societe Generale S.A.</name>
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        <name>Univision Communications Inc.</name>
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        <name>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>HRI 5.75 03/15/31 144A</title>
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        <name>Commercial Metals Company</name>
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        <name>Marriott International, Inc.</name>
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        <name>Government National Mortgage Association</name>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <name>Oneok Inc.</name>
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        <name>HSBC BANK PLC</name>
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        <name>AT&amp;T Inc</name>
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        <name>NRTH COMMERCIAL MORTGAGE TRUST 2025-PARK</name>
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        <name>Solstice Advanced Materials Inc.</name>
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        <name>Beazer Homes USA Inc.</name>
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        <title>BZH 7.25 10/15/29</title>
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        <name>Arsenal AIC Parent LLC</name>
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        <name>Transocean International Ltd.</name>
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        <name>Allied Universal Holdco LLC / Allied Universal Finance Corporation</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Transcontinental Gas Pipe Line Company, LLC</name>
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        <title>WMB 4.6 03/15/48</title>
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        <name>BARCLAYS BANK PLC</name>
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        <title>CDS REPUBLIC OF COLOMBIA</title>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>Herc Holdings Inc</name>
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        <name>ONEMAIN FINL ISSUA TR 2023-2</name>
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        <name>PK ALIFT LOAN FUNDING 7 LP</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>ONEMAIN FINL ISSUA TR 2023-2</name>
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        <name>Wcore Commercial Mortgage Trust 2024-Core</name>
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        <name>B&amp;G Foods, Inc.</name>
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        <name>Government National Mortgage Association</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>United States Treasury Bonds</name>
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        <name>Fairfax Financial Holdings Limited</name>
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        <name>Bank Of Amer Merrill Lynch Coml Mtg</name>
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        <name>Expand Energy Corp.</name>
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        <name>Government National Mortgage Association</name>
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        <name>MORGAN STANLEY RESIDENTIAL MORTGAGE LOAN TRUST 2025-DSC3</name>
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        <name>CDW LLC / CDW Finance Corp</name>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>Clarios (Power Solutions)</name>
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        <name>Stream Innovations 2024-2 Issuer Trust</name>
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        <name>LSEG US Finance Corp</name>
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        <name>Viking Ocean Cruises Ship Vii Limited</name>
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        <name>Tenneco</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Ivory Coast (Republic Of)</name>
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        <name>TALLGRASS ENERGY PARTNERS LP</name>
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        <name>JBS USA HOLDING LUX SARL</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>United States Treasury Bonds</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>Virgin Media Secured Finance PLC</name>
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        <name>ONEMAIN FINANCIAL ISSUANCE TRUST 20</name>
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        <name>NCR Atleos Corp.</name>
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        <name>Boots Group Finco LP/ The Boots Group Luxco S.a.r.l.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Pacific Gas and Electric Company</name>
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        <name>The Cigna Group</name>
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        <name>ROCK TR 2024-CNTR</name>
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        <name>HILCORP ENERGY I LP</name>
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        <name>COMM 2024-277P MORTGAGE TRUST</name>
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        <name>Government National Mortgage Association</name>
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        <name>Comision Federal de Electricidad</name>
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        <name>Mastec, Inc.</name>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <name>PGIM ETF Trust</name>
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        <name>Ecuador (Republic Of)</name>
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        <name>Rockford Tower CLO 2023-1 Ltd.</name>
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        <name>ROCK TR 2024-CNTR</name>
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        <name>ELMWOOD CLO 29 LTD</name>
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        <name>Oracle Corp.</name>
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        <name>Uniti Service LLC / Uniti Fiber Holdings Inc. / Uniti Group Finance 2019 Inc. / CSL Capital LLC</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>OCTAGON 55 LTD/LLC</name>
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        <name>Bravo Residential Funding Trust 2024-CES1</name>
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        <name>Edison International</name>
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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-GRP</name>
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        <name>Mineral Resources Ltd.</name>
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        <name>BANK5 2024-5YR9</name>
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        <name>OCEAN TRAILS CLO XVI LTD</name>
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        <name>BENCHMARK 2025-V18 MORTGAGE TRUST</name>
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        <name>Aker BP ASA</name>
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        <name>Fiserv Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROCK TR 2024-CNTR</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lugo Funding DAC</name>
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          <isin value="XS2930538397"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HILCORP ENERGY I LP</name>
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          <isin value="US431318AV64"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>KIMCO REALTY OP LLC</name>
        <lei>549300EA7I6T15IBYS12</lei>
        <title>KIM 4.6 02/01/33</title>
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          <isin value="US49446RBA68"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-01</maturityDt>
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        <name>U.S. Bancorp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Calpine LLC</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
        <title>CPN 5.125 03/15/28 144A</title>
        <cusip>131347CN4</cusip>
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        <balance>575000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>Viatris Inc</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>VTRS 4 06/22/50</title>
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        <balance>1457000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <title>AESOP 2024-1A A</title>
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        <name>ROCKET MORTGAGE LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FP0105</title>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 MA5876</title>
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        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2025-DSC2</name>
        <lei>254900Y4XCLF0D6VBG48</lei>
        <title>GSMBS 2025-DSC2 A1</title>
        <cusip>36275JAC4</cusip>
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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-GRP</name>
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        <name>Global Payments Inc</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>GPN 4.5 11/15/28</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ONE NEW YORK PLAZA TR 20-1NYP</name>
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        <name>AFFIRM ASSET SECURITIZATION TRUST 2</name>
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        <name>ANTERO MIDSTREAM PARTNERS LP</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Boeing Co.</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>BARCLAYS CAPITAL INC.</name>
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        <name>JEFFERSON MILL CLO LTD</name>
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        <name>Antero Resources Corporation</name>
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        <name>ONE NEW YORK PLAZA TR 20-1NYP</name>
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        <name>United States Treasury Bonds</name>
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        <name>Crown Castle Inc.</name>
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        <name>ENEL Finance International N.V.</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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            <delta>XXXX</delta>
            <unrealizedAppr>0.18000000</unrealizedAppr>
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        <balance>6645000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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            <unrealizedAppr>856.74000000</unrealizedAppr>
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      <invstOrSec>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America, National Association</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>Serbia (Republic Of)</issuerName>
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            <swapFlag>Y</swapFlag>
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            <curCd>USD</curCd>
            <unrealizedAppr>-103.79000000</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
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        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AEQ6CF3"/>
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        <balance>-6645000.00000000</balance>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                  <derivAddlInfo>
                    <name>BNP PARIBAS</name>
                    <lei>R0MUWSFPU8MPRO8K5P83</lei>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
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                    <assetCat>DIR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>FR</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>USD</curCd>
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            <principalAmt>-6645000.00000000</principalAmt>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>12541.37000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
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        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2601140533067"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27248.45000000</valUSD>
        <pctVal>-0.00312420702</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>THE TORONTO-DOMINION BANK</counterpartyName>
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            <amtCurSold>-42355003.00000000</amtCurSold>
            <curSold>CZK</curSold>
            <amtCurPur>2039239.43000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-04-22</settlementDt>
            <unrealizedAppr>-27248.45000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>SWOP IRS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AEQ6E79"/>
        </identifiers>
        <balance>6645000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>0.41000000</valUSD>
        <pctVal>0.000000047009</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
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                <swapDeriv derivCat="SWP">
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                  <derivAddlInfo>
                    <name>BNP PARIBAS</name>
                    <lei>R0MUWSFPU8MPRO8K5P83</lei>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>FR</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="THE SECURED OVERNIGHT FINANCING RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                  <terminationDt>2028-11-06</terminationDt>
                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>USD</curCd>
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            </descRefInstrmnt>
            <principalAmt>6645000.00000000</principalAmt>
            <curCd>USD</curCd>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-82.65000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL PLC</name>
        <lei>4PQUHN3JPFGFNF3BB653</lei>
        <title>CDS STANDARD CHARTERED BANK</title>
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        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2462.53000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                <issuerName>STANDARD CHARTERED BK/NY</issuerName>
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                  <isin value="XS1669196906"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <title>CDS ALTICE FRANCE SA</title>
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        <identifiers>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84631008"/>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>ALTICE FRANCE SA</issuerName>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
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        <securityLending>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
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        <balance>-1120000.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                  <derivAddlInfo>
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                    <assetCat>DCR</assetCat>
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                    <invOthCountry>US</invOthCountry>
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                      <issuerName>IHS MARKIT LTD</issuerName>
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            <delta>XXXX</delta>
            <unrealizedAppr>9745.81000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <balance>-496000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                  <derivAddlInfo>
                    <name>CITIBANK, NATIONAL ASSOCIATION</name>
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                    <currencyConditional curCd="COP" exchangeRt="0.00000000"/>
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                    <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <balance>1610000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <balance>728000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                    <assetCat>DFE</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <amtCurPur>N/A</amtCurPur>
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            <delta>XXXX</delta>
            <unrealizedAppr>-7192.42000000</unrealizedAppr>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <identifiers>
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        <balance>-1018000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <derivAddlInfo>
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                  <amtCurPur>N/A</amtCurPur>
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            <delta>XXXX</delta>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <balance>1512000.00000000</balance>
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        <name>Citigroup Inc.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>CoreWeave Inc.</name>
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        <name>Adapthealth Llc</name>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>Apollo Debt Solutions BDC</name>
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        <name>PK ALIFT LOAN FUNDING 8 LP</name>
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        <name>Venture Global LNG Inc.</name>
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        <name>United States Treasury Notes</name>
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        <name>ALBERTSONS COMPANIES INC</name>
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        <name>RHP HOTEL PROPERTIES LP</name>
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        <name>REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE) (CA)</name>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>United States Treasury Bonds</name>
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        <name>BX COML MTG TR 2024-AIRC</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Bank of America, National Association</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Adapthealth Llc</name>
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        <name>Freedom Mortgage Holdings LLC</name>
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        <name>Government National Mortgage Association</name>
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        <name>Energy Transfer LP</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>PGIM ETF Trust</name>
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        <name>Goodleap Home Improvement Solutions Trust 2025-2</name>
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        <name>Energy Transfer LP</name>
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        <name>SM ENERGY COMPANY</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>XPO Inc</name>
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        <name>United States Treasury Bonds</name>
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        <name>TCO Commercial Mortgage Trust 2024-DPM</name>
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        <name>BARROW HANLEY CLO LTD</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Oneok Partners Lp</name>
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        <name>SM ENERGY COMPANY</name>
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        <name>Boeing Co.</name>
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        <name>Power Finance Corp Ltd.</name>
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        <name>Onemain Direct Auto Receivables Trust 2017-1</name>
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        <name>Societe Generale S.A.</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
        <lei>N/A</lei>
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          <isin value="US1248EPBT92"/>
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        <balance>154000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154160.60000000</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>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN MA5108</title>
        <cusip>31418EVA5</cusip>
        <identifiers>
          <isin value="US31418EVA53"/>
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        <balance>453713.84000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467646.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Onemain Direct Auto Receivables Trust 2017-1</name>
        <lei>N/A</lei>
        <title>ODART 2025-1A B</title>
        <cusip>682684AB1</cusip>
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          <isin value="US682684AB13"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>840241.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.56000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Unum Group</name>
        <lei>549300E32YFDO6TZ8R31</lei>
        <title>UNM 6 06/15/54</title>
        <cusip>91529YAT3</cusip>
        <identifiers>
          <isin value="US91529YAT38"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82939.20000000</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>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>WYNMAC 5.5 10/01/27 144A</title>
        <cusip>98313RAD8</cusip>
        <identifiers>
          <isin value="US98313RAD89"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199931.00000000</valUSD>
        <pctVal>0.022923352866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BMO 2024-5C6 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BMO 2024-5C6 A3</title>
        <cusip>05593QAC8</cusip>
        <identifiers>
          <isin value="US05593QAC87"/>
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        <balance>2750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2849098.73000000</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>2057-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.31610000</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>Tri Pointe Homes Inc</name>
        <lei>N/A</lei>
        <title>TPH 5.7 06/15/28</title>
        <cusip>87265HAG4</cusip>
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          <isin value="US87265HAG48"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126779.72000000</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>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 3.5 12/15/28</title>
        <cusip>91282CPP0</cusip>
        <identifiers>
          <isin value="US91282CPP04"/>
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        <balance>15300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15345421.88000000</valUSD>
        <pctVal>1.759449613311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>SWOP CDS CDX.NA.IG.45.V1</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="SWB8AF1HP02"/>
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        <balance>-34500000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-48927.11000000</valUSD>
        <pctVal>-0.00560980241</pctVal>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Put</putOrCall>
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                    <name>GOLDMAN SACHS INTERNATIONAL</name>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <title>ZAR CALL VERSUS USD PUT</title>
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          <other otherDesc="INTERNAL" value="FXB8AF47SJ7"/>
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        <balance>-502000.00000000</balance>
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        <valUSD>-4704.03000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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                    <invOthCountry>US</invOthCountry>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>BANK5 2023-5YR4</name>
        <lei>N/A</lei>
        <title>BANK5 2023-5YR4 A3</title>
        <cusip>06211FAV0</cusip>
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          <isin value="US06211FAV04"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Oneok Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>OKE 6.5 09/01/30 144A</title>
        <cusip>682680CR2</cusip>
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        <balance>350000.00000000</balance>
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        <valUSD>378004.82000000</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>
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      <invstOrSec>
        <name>GS MORTGAGE-BACKED SECURITIES 2025-NQM2</name>
        <lei>254900WJFO182DZH8M35</lei>
        <title>GSMBS 2025-NQM2 A1</title>
        <cusip>36272EAA2</cusip>
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          <isin value="US36272EAA29"/>
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        <balance>481702.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>487614.93000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.64800000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TalkTalk Telecom Group Ltd.</name>
        <lei>213800WF53FVDRRHRF44</lei>
        <title>TALKLN 11.75 03/01/28 144A</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2966240397"/>
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        <balance>83817.76000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.74203242"/>
        <valUSD>0.11000000</valUSD>
        <pctVal>0.000000012612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>MORGAN STANLEY RESIDENTIAL MORTGAGE</name>
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        <name>Comm 2017-Panw Mortgage Trust</name>
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          <couponKind>Fixed</couponKind>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>FN MA4492</title>
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        <name>NEWMONT CORP</name>
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        <name>United States Treasury Notes</name>
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        <name>Brixmor Operating Partnership LP</name>
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        <name>New Gold, Inc.</name>
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        <name>BENCHMARK 2023-V2 MORTGAGE TRUST</name>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>Societe Generale S.A.</name>
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        <name>United States Treasury Bonds</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>United Airlines Holdings Inc</name>
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        <title>UAL 4.875 03/01/29</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Huntington Bancshares Incorporated</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Fairfax Financial Holdings Limited</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FactSet Research Systems Inc.</name>
        <lei>549300ZSJE7NBK6K9P30</lei>
        <title>FDS 3.45 03/01/32</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <issuerCat>USGSE</issuerCat>
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        <name>COLT 2025-7 MORTGAGE LOAN TRUST</name>
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        <title>COLT 2025-7 A1</title>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>Alta Equipment Group Inc</name>
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        <name>Morgan Stanley Capital I Trust 2011-C2</name>
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        <name>Societe Generale S.A.</name>
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        <name>SPECTRUM MANAGEMENT HOLDING COMPANY LLC</name>
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        <name>AEP Texas Inc</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>Boots Group Finco LP/ The Boots Group Luxco S.a.r.l.</name>
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        <name>CoreWeave Inc.</name>
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        <name>Champion Iron Canada Inc.</name>
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        <name>ACCO Brands Corporation</name>
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        <name>American Honda Finance Corporation</name>
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        <name>B.A.T. Capital Corporation</name>
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        <name>University of Southern California (The)</name>
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        <name>United States Treasury Notes</name>
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        <name>Banco Santander SA</name>
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        <name>Shire Acquisitions Investments Ireland DAC</name>
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        <name>AbbVie Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Canadian Natural Resources Limited</name>
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        <title>CNQCN 5.85 02/01/35</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CIFC Funding 2018</name>
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        <name>ROYAL BANK OF CANADA</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
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        <name>Bausch Health Companies Inc.</name>
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        <name>CANYON CLO 2022-1 LTD</name>
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        <name>Cvc Cordatus Loan Fund XIV Designated Activity Company</name>
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        <name>Federal National Mortgage Association</name>
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        <name>WOODWARD CAPITAL MANAGEMENT</name>
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        <name>EOG Resources Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>BAE Systems PLC</name>
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        <name>NRG Energy, Inc.</name>
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        <name>CNH Industrial Capital LLC</name>
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        <name>Shackleton 2014-V-R Clo Ltd / Llc</name>
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        <name>Federal National Mortgage Association</name>
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        <name>ERAC USA Finance LLC</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Clean Harbors, Inc.</name>
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          <isin value="US184496AR85"/>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>Targa Resources Corp.</name>
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        <title>TRGP 5.5 02/15/35</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <name>Herc Holdings Inc</name>
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        <name>GS MORTGAGE BACKED SECURITIES TRUST 2025-NQM3</name>
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        <title>GSMBS 2025-NQM3 A1</title>
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        <name>Brixmor Operating Partnership LP</name>
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        <name>Extra Space Storage LP</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <title>S 0 05/15/40</title>
        <cusip>912834HV3</cusip>
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        <name>OFSI BSL CLO XIII LTD</name>
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        <name>Cleveland-Cliffs Inc</name>
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        <name>JELD-WEN, Inc.</name>
        <lei>549300XWE6NM0N1HFW16</lei>
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        <name>Colombia (Republic Of)</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>COLOM 5.375 01/21/29</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
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        <name>Caesars Entertainment Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>BX Trust 2025-Roic</name>
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        <name>Sempra</name>
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        <name>MICHIGAN STATE BOARD OF TRUSTEES UNIVERSITY (MI)</name>
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        <name>Brixmor Operating Partnership LP</name>
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        <name>EchoStar Corp.</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>Sun Communities Operating Limited Partnership</name>
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        <name>CF Industries, Inc.</name>
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        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYNMTR 5.25 01/08/27 144A</title>
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        <name>CAPITAL STREET MASTER TRUST</name>
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        <name>Morgan Stanley</name>
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        <name>Banco Santander SA</name>
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        <name>Cleveland-Cliffs Inc</name>
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        <name>Wesco Distribution, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>Targa Resources Corp.</name>
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        <name>REGENTS OF THE UNIVERSITY OF MICHIGAN (MI)</name>
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        <name>BX COMMERCIAL MORTGAGE TRUST 2025-B</name>
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        <name>Oracle Corp.</name>
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        <name>EG Global Finance PLC</name>
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        <name>Romania (Republic Of)</name>
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        <name>United States Treasury Notes</name>
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        <name>NYC COMMERCIAL MTG TR 2025-3BP</name>
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        <name>Ashton Woods (USA) LLC/Ashton Woods Finance Co.</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>SANTANDER MORTGAGE ASSET RECEIVABLE TRUST 2026-NQM1</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Petrobras Global Finance B.V.</name>
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        <name>Petroleos Mexicanos Sa De CV</name>
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        <name>Bausch Health Companies Inc.</name>
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        <name>Sumitomo Mitsui Financial Group Inc.</name>
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        <name>Lincoln National Corp.</name>
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        <name>Petroleos Mexicanos Sa De CV</name>
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        <name>Petroleos Mexicanos Sa De CV</name>
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        <name>Mexico City Airport Trust</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>The Scotts Miracle-Gro Company</name>
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        <name>GOODLEAP SUSTAINABLE HOME SOLUTIONS</name>
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        <name>NYC Commercial Mortgage Trust 2026-1Park</name>
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        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <name>Bank of America Corp.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Liberty Mutual Group, Inc.</name>
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        <name>Novelis Corporation</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Laboratory Corporation of America Holdings</name>
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        <name>Philip Morris International Inc.</name>
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      <invstOrSec>
        <name>Bausch Health Companies Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>NRG Energy, Inc.</name>
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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>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.25000000</annualizedRt>
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      <invstOrSec>
        <name>U.S. Treasury Security Stripped Interest Security</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>S 0 05/15/45</title>
        <cusip>912834KB3</cusip>
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          <isin value="US912834KB37"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>466000.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>BFLD TRUST 2024-WRHS</name>
        <lei>N/A</lei>
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        <cusip>05555HAA8</cusip>
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          <isin value="US05555HAA86"/>
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        <curCd>USD</curCd>
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          <couponKind>Floating</couponKind>
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        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
        <title>WES 4.65 07/01/26</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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          <couponKind>Fixed</couponKind>
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        <name>Lithia Motors Incorporated</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
        <title>LAD 3.875 06/01/29 144A</title>
        <cusip>536797AG8</cusip>
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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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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC V6.303 10/23/29</title>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>FN MA4236</title>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <title>CDS SIEMENS FINANCIERINGSMAATSCHAPPIJ</title>
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        <name>Federal National Mortgage Association</name>
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        <name>Carnival Corporation</name>
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        <title>CCL 4 08/01/28 144A</title>
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        <name>Federal National Mortgage Association</name>
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        <issuerCat>USGSE</issuerCat>
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        <name>OBX 2025-NQM13 TRUST</name>
        <lei>254900FPAGVH6E25VL74</lei>
        <title>OBX 2025-NQM13 A1</title>
        <cusip>67121UAA4</cusip>
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        <name>Newell Brands Inc.</name>
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        <name>Crown City CLO</name>
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        <name>Davita Inc</name>
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        <name>PENN Entertainment Inc</name>
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        <name>Invitation Homes Operating Partnership Lp</name>
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        <name>Ford Motor Credit Company LLC</name>
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        <name>Bellis Acquisition Co PLC</name>
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        <name>General Motors Financial Company Inc</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <name>CFE Fibra E Banco Citi Mexico S A Institucion De Banca Multiple Grupo Financiero Citi</name>
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        <name>Tikehau Clo XIII Designated Activity Co.</name>
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        <name>Lamb Weston Holdings Inc</name>
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        <name>Organon &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BLP Commercial Mortgage Trust 2025-IND</name>
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      <invstOrSec>
        <name>Clue Opco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BARCLAYS BANK PLC</name>
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        <name>Diamondback Energy Inc</name>
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        <name>MPLX LP</name>
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        <name>Elevation Clo 2021-12 Ltd.</name>
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        <name>Wolverine World Wide, Inc.</name>
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          <couponKind>Fixed</couponKind>
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        <name>Level 3 Financing, Inc.</name>
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        <name>PRPM LLC 2024-RCF6</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>Ball Corporation</name>
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        <name>PMT CREDIT RISK TRANSFER TRUST</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>Baxter International, Inc.</name>
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      <invstOrSec>
        <name>J.P. MORGAN MORTGAGE TRUST 2025-VIS3</name>
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        <name>United States Treasury Notes</name>
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        <name>MPH Acquisition Holdings LLC</name>
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        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <name>CSAIL 2017-Cx10 Commercial Mortgage Trust</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Targa Resources Corp.</name>
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        <name>HSBC SECURITIES (USA) INC.</name>
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        <name>Phinia Inc.</name>
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        <name>Var Energi ASA</name>
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        <name>Transcontinental Gas Pipe Line Company, LLC</name>
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        <name>Ivory Coast (Republic Of)</name>
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        <name>Energy Transfer LP</name>
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        <name>Onemain Direct Auto Receivables Tst</name>
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        <name>Novelis Corporation</name>
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        <name>Bank of America, National Association</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>LHOME MTG TR 2025-RTL1</name>
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        <name>Fifth Third Bancorp</name>
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        <name>PPL Electric Utilities Corporation</name>
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        <name>KENNEDY LEWIS CLO 2 LTD</name>
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        <name>Braskem Netherlands Finance B V</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>PG&amp;E Corporation</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>Voya Euro CLO</name>
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        <name>First Quantum Minerals Ltd.</name>
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        <name>Vistra Operations Co LLC</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>NEW YORK N Y CITY HSG DEV CORP</name>
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        <name>Star Leasing Co LLC</name>
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        <name>United States Treasury Notes</name>
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        <name>PMT CREDIT RISK TRANSFER TRUST</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>MPLX LP</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V6.875 PERP GG</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Mexico City Airport Trust</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-31</maturityDt>
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      <invstOrSec>
        <name>Benchmark 2020-B16 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMARK 2018-B7 A3</title>
        <cusip>08162TBA0</cusip>
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          <isin value="US08162TBA07"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24100000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4 11/15/42</title>
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          <isin value="US912810TM09"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Shea Homes Limited Partnership</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>Morgan Stanley Private Bank National Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First Quantum Minerals Ltd.</name>
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        <curCd>USD</curCd>
        <valUSD>200643.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BARCLAYS BANK PLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NCL Corporation Ltd.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MPT OPERATING PARTNERSHIP LP</name>
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        <title>MPW 8.5 02/15/32 144a</title>
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        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>T 5.85 04/30/46</title>
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        <balance>2270000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Broadcom Inc</name>
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        <title>AVGO 4.35 02/15/30</title>
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        <name>Bombardier Inc.</name>
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        <title>BBDBCN 6 02/15/28 144A</title>
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        <name>Pacific Gas and Electric Company</name>
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        <title>PCG 4.95 07/01/50</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BAC V2.299 07/21/32</title>
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          <couponKind>Fixed</couponKind>
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        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4 11/15/52</title>
        <cusip>912810TL2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Bank of America, National Association</name>
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        <name>United States Treasury Bonds</name>
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        <name>Midwest Gaming Borrower LLC</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <name>U.S. Treasury Security Stripped Interest Security</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>DIAMOND SPORTS NET LLC</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Williams Companies Inc. (The)</name>
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        <name>SUBURBAN PROPANE PARTNERS LP</name>
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        <name>Host Hotels &amp; Resorts, L.P.</name>
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        <name>MSWF COML MTG TR 2023-1</name>
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        <name>Vistra Corp</name>
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        <name>Pilgrims Pride Corporation</name>
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        <name>Whirlpool Corp.</name>
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        <name>Cross 2025-H8 Mortgage Trust</name>
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        <name>Avoca CLO XXIX DAC</name>
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        <name>Washington University</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Societe Generale S.A.</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCGEN V5.439 10/03/36 144A</title>
        <cusip>83368RCK6</cusip>
        <identifiers>
          <isin value="US83368RCK68"/>
        </identifiers>
        <balance>1370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1386782.64000000</valUSD>
        <pctVal>0.159003395199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.43900000</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>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 3.25 05/15/42</title>
        <cusip>912810TH1</cusip>
        <identifiers>
          <isin value="US912810TH14"/>
        </identifiers>
        <balance>2885000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2480198.44000000</valUSD>
        <pctVal>0.284370427891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Solventum Corp.</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>SOLV 5.4 03/01/29</title>
        <cusip>83444MAP6</cusip>
        <identifiers>
          <isin value="US83444MAP68"/>
        </identifiers>
        <balance>504000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>522799.15000000</valUSD>
        <pctVal>0.059942227036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Voltagrid LLC</name>
        <lei>254900R5BEUGIKK1FM03</lei>
        <title>VOLTAG 7.375 11/01/30 144A</title>
        <cusip>92874BAA3</cusip>
        <identifiers>
          <isin value="US92874BAA35"/>
        </identifiers>
        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>229625.61000000</valUSD>
        <pctVal>0.026328027595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>FEDERAL HOME LOAN BANKS</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FR SD7551</title>
        <cusip>3132DVL86</cusip>
        <identifiers>
          <isin value="US3132DVL869"/>
        </identifiers>
        <balance>996825.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>916641.34000000</valUSD>
        <pctVal>0.105098723503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STNLY RES MTG 2025-NQM2</name>
        <lei>N/A</lei>
        <title>MSRM 2025-NQM2 A1</title>
        <cusip>617941AA7</cusip>
        <identifiers>
          <isin value="US617941AA76"/>
        </identifiers>
        <balance>872948.02000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>881701.86000000</valUSD>
        <pctVal>0.101092691277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62700000</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>Davita Inc</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DVA 4.625 06/01/30 144A</title>
        <cusip>23918KAS7</cusip>
        <identifiers>
          <isin value="US23918KAS78"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>734134.11000000</valUSD>
        <pctVal>0.084173115998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>
