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        <name>COMMERCIAL METALS COMPANY</name>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <name>SOFTBANK GROUP CORP</name>
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        <name>ONEMAIN FINANCIAL ISSUANCE TRUST 2023-2</name>
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        <name>PK ALIFT LOAN FUNDING 3 LP</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>TENET HEALTHCARE CORP</name>
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        <name>ELMWOOD CLO II LTD</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <name>COMM 2024-277P MORTGAGE TRUST</name>
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        <name>COLOMBIA, REPUBLIC OF - MINISTERO DE HACIENDA Y CREDITO PUBLICO</name>
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        <name>CRESCENT ENERGY FINANCE LLC</name>
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      <invstOrSec>
        <name>ROCKFORD TOWER CLO 2023-1 LTD</name>
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      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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      <invstOrSec>
        <name>ARBOR MULTIFAMILY MORTGAGE SECURITIES TRUST 2021-MF3</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WARWICK CAPITAL CLO 4 LTD</name>
        <lei>N/A</lei>
        <title>WWICK 2024-4A A1</title>
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          <isin value="US93655QAA31"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CSMC 2022-RPL4 TRUST</name>
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        <title>CSMC 2022-RPL4 A1</title>
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          <isin value="US12663TAA79"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>ROCK TRUST 2024-CNTR</name>
        <lei>N/A</lei>
        <title>ROCC 2024-CNTR D</title>
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          <isin value="US74970WAG50"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>TOWD POINT MORTGAGE TRUST 2025-CES1</name>
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        <title>TPMT 2025-CES1 A1</title>
        <cusip>89183HAA2</cusip>
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          <isin value="US89183HAA23"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>ELMWOOD CLO 29 LTD</name>
        <lei>N/A</lei>
        <title>ELM29 2024-5A AR1</title>
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          <isin value="US289913AC92"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>ORACLE CORP</name>
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        <balance>620000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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      <invstOrSec>
        <name>UNITI GROUP LP / UNITI GROUP FINANCE 2019 INC / CSL CAP LLC</name>
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      <invstOrSec>
        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-2</name>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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      <invstOrSec>
        <name>MERIDIAN ARC HOLDCO LLC</name>
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      <invstOrSec>
        <name>OCTAGON 55 LTD</name>
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        <title>OCT55 2021-1A A1R</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>EDISON INTERNATIONAL</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>EIX 5.25 11/15/28</title>
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        <name>ANGEL OAK MORTGAGE TRUST 2025-7</name>
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      <invstOrSec>
        <name>BELLIS ACQUISITION CO PLC</name>
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        <name>GOLDMAN SACHS GROUP INC (THE)</name>
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        <name>FISERV INC</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
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        <name>ROCK TRUST 2024-CNTR</name>
        <lei>N/A</lei>
        <title>ROCC 2024-CNTR C</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>LENDMARK FUNDING TRUST 2026-1</name>
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        <title>LFT 2026-1A A</title>
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          <isin value="US52603KAA51"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LUGO FUNDING DAC</name>
        <lei>635400ZKKXDKKVOM9V22</lei>
        <title>LUGO 2024-1A A</title>
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          <isin value="XS2930538397"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>HILCORP ENERGY I LP / HILCORP FINANCE CO</name>
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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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL PLC</name>
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        <title>CDS HSBC BANK PLC</title>
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        <name>GOLDMAN SACHS GROUP INC (THE)</name>
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        <name>US BANCORP</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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        <issuerCat>CORP</issuerCat>
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        <name>VIATRIS INC</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>VTRS 4 06/22/50</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Gs Mortgage Backed Securities Trust 2026-NQM2</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2025-DSC2</name>
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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2024-GRP</name>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>GLOBAL PAYMENTS INC</name>
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        <name>SCE RECOVERY FUNDING LLC</name>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <name>CROWN CASTLE INC</name>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <name>SMYRNA READY MIX CONCRETE LLC</name>
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        <assetCat>DBT</assetCat>
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          <couponKind>Fixed</couponKind>
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        <name>FIGRE TRUST 2026-FL1</name>
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          <couponKind>Variable</couponKind>
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        <name>ONE NEW YORK PLAZA TRUST 2020-1NYP</name>
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        <name>BOEING COMPANY (THE)</name>
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        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2021-PJ8</name>
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        <name>CITIBANK NA</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912834PM47"/>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112475.79000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUIKRETE HOLDINGS INC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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          <other otherDesc="INTERNAL" value="SWB8AF597F3"/>
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        <balance>2270000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-54291.52000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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            <payOffProf>Long</payOffProf>
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                <issuerName>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</issuerName>
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            <expDate>2026-08-13</expDate>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BNY Capital Markets, LLC</name>
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          <ticker value="N/A"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5656.43000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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            <amtCurSold>-1413942.62000000</amtCurSold>
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            <unrealizedAppr>-5656.43000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
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        <title>CDS CITIGROUP INC</title>
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        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>987.11000000</valUSD>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                <issuerName>CITIGROUP INC</issuerName>
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                  <isin value="US172967ME81"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>80000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>241.17000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>CDS REPUBLIC OF ROMANIA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AEK8PK0"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>289.35000000</valUSD>
        <pctVal>0.000029528327</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
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                <issuerName>ROMANIAN GOVERNMENT INTERNATIONAL BOND</issuerName>
                <issueTitle>ROMANIAN GOVERNMENT INTERNATIONAL BOND</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="XS2178857285"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2026-12-20</terminationDt>
            <upfrontPmnt>152.21000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>56000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>137.14000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS BANK OF AMERICA CORP</title>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>BANK OF AMERICA CORP</issuerName>
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                  <isin value="US06051GHQ55"/>
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            <swapFlag>Y</swapFlag>
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            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>389000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>736.41000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
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        <balance>1465000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-3338.91000000</unrealizedAppr>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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            <expDate>2026-09-08</expDate>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <valUSD>189.61000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>CITIBANK, NATIONAL ASSOCIATION</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>SAUDI GOVERNMENT INTERNATIONAL BOND</issuerName>
                <issueTitle>SAUDI GOVERNMENT INTERNATIONAL BOND</issueTitle>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <terminationDt>2026-06-20</terminationDt>
            <upfrontPmnt>31.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>75000.00000000</notionalAmt>
            <curCd>USD</curCd>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <balance>1465000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>6845.55000000</valUSD>
        <pctVal>0.000698592163</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                  <derivAddlInfo>
                    <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DCR</assetCat>
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                    <invCountry>US</invCountry>
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                  <descRefInstrmnt>
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                      <issuerName>IHS MARKIT LTD</issuerName>
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                        <cusip value="000000000"/>
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                  <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
                  <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
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                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>N/A</curCd>
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            </descRefInstrmnt>
            <principalAmt>1465000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>106.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3338.91000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS BARCLAYS PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AECA484"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>1294.11000000</valUSD>
        <pctVal>0.000132064641</pctVal>
        <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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              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BARCLAYS PLC</issuerName>
                <issueTitle>BACR V6.496 09/13/27</issueTitle>
                <identifiers>
                  <cusip value="06738ECJ2"/>
                  <isin value="US06738ECJ29"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2026-06-20</terminationDt>
            <upfrontPmnt>197.21000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>445000.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>1096.90000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS COMISION FEDERAL DE ELECTRICIDAD CFE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AFB3TZ1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1848.45000000</valUSD>
        <pctVal>-0.00018863534</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>COMISION FEDERAL DE ELECTRICIDAD</issuerName>
                <issueTitle>CFELEC 6.45 01/24/35 REGS</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="USP30179CR77"/>
                  <other otherDesc="SEDOL" value="BSTJDK4"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2028-06-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-1058.45000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>360000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-790.00000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC SECURITIES (USA) INC.</name>
        <lei>CYYGQCGNHMHPSMRL3R97</lei>
        <title>USD/PHP FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="MDJ2604070340026"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>18757.82000000</valUSD>
        <pctVal>0.001914245904</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>HSBC SECURITIES (USA) INC.</counterpartyName>
              <counterpartyLei>CYYGQCGNHMHPSMRL3R97</counterpartyLei>
            </counterparties>
            <amtCurSold>-72415656.00000000</amtCurSold>
            <curSold>PHP</curSold>
            <amtCurPur>1194622.98000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2026-06-17</settlementDt>
            <unrealizedAppr>18757.82000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS INTERNATIONAL</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>CDS BARCLAYS PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AF6U8P2"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6085.20000000</valUSD>
        <pctVal>0.000620998025</pctVal>
        <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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              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BARCLAYS PLC</issuerName>
                <issueTitle>BACR V6.496 09/13/27</issueTitle>
                <identifiers>
                  <cusip value="06738ECJ2"/>
                  <isin value="US06738ECJ29"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <terminationDt>2026-12-20</terminationDt>
            <upfrontPmnt>3799.99000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1012000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2285.21000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS KINGDOM OF SPAIN</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AET1WA0"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>1375.16000000</valUSD>
        <pctVal>0.000140335838</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPAIN GOVERNMENT INTERNATIONAL BOND</issuerName>
                <issueTitle>SPAIN GOVERNMENT INTERNATIONAL BOND</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="XS1138687592"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2026-06-20</terminationDt>
            <upfrontPmnt>249.72000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>449000.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>1125.44000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS TOTALENERGIES SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AFGK6N0"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>-41.29000000</valUSD>
        <pctVal>-0.00000421366</pctVal>
        <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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            <descRefInstrmnt>
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                <issuerName>TOTALENERGIES CAPITAL SA</issuerName>
                <issueTitle>TTEFP 3.883 10/11/28</issueTitle>
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                  <cusip value="89152UAH5"/>
                  <isin value="US89152UAH59"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2026-06-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-44.54000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>774000.00000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>3.25000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS REPUBLIC OF PANAMA</title>
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        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AF6Y5E2"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4437.72000000</valUSD>
        <pctVal>0.000452871780</pctVal>
        <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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            <descRefInstrmnt>
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                <issuerName>PANAMA, REPUBLIC OF - MINISTRY OF PLANNING AND ECONOMIC POLICY</issuerName>
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                  <isin value="US698299AD63"/>
                  <other otherDesc="SEDOL" value="5335989"/>
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            <swapFlag>Y</swapFlag>
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            <upfrontPmnt>3261.15000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>547000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1176.57000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>2-Year T-Note Futures, Sep-2026,ETH</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="ZT U26"/>
          <other otherDesc="FIGI" value="BBG01ZB05X64"/>
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        <balance>254.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>47326.83000000</valUSD>
        <pctVal>0.004829729174</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
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                <issuerName>US TREASURY N/B</issuerName>
                <issueTitle>United States Treasury Note/Bond</issueTitle>
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                  <isin value="US91282CHK09"/>
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            <expDate>2026-09-30</expDate>
            <notionalAmt>52419548.17000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>47326.83000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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                    <invOthCountry>US</invOthCountry>
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                  <amtCurSold>N/A</amtCurSold>
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            <principalAmt>1054000.00000000</principalAmt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-22.35000000</unrealizedAppr>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <balance>1512000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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                  <derivAddlInfo>
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            <delta>XXXX</delta>
            <unrealizedAppr>9767.23000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America, National Association</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Bank of America, National Association</counterpartyName>
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            <settlementDt>2026-06-17</settlementDt>
            <unrealizedAppr>1285.80000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <balance>-5015000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
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        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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            <putOrCall>Call</putOrCall>
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                  <derivAddlInfo>
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                    <issuerCat>CORP</issuerCat>
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                    <invOthCountry>US</invOthCountry>
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                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-4462.54000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                  <isin value="NO0012440397"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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                  <isin value="US02079KAK34"/>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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      <invstOrSec>
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        <balance>-6645000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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            <principalAmt>-6645000.00000000</principalAmt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-38628.96000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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            <descRefInstrmnt>
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                <issuerName>PANAMA, REPUBLIC OF - MINISTRY OF PLANNING AND ECONOMIC POLICY</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                <issuerName>Angola (Republic of)</issuerName>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>-14652.81000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>USD</curCd>
            <unrealizedAppr>6680.68000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                <issuerName>NOMURA HOLDINGS INC</issuerName>
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                <identifiers>
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                  <isin value="US65535HAY53"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <terminationDt>2026-06-20</terminationDt>
            <upfrontPmnt>465.75000000</upfrontPmnt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1110000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2332.68000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
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        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AEQ6DT2"/>
        </identifiers>
        <balance>-6645000.00000000</balance>
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        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-44321.60000000</valUSD>
        <pctVal>-0.00452304379</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>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
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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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                  <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.69400000"/>
                  <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="THE SECURED OVERNIGHT FINANCING RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                  <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>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-28740.22000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
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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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            <descRefInstrmnt>
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                <issuerName>STELLANTIS NV</issuerName>
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                <identifiers>
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                  <isin value="XS2325733413"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <upfrontPmnt>1362.21000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
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            <rcptCurCd>USD</rcptCurCd>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. INTERNATIONAL PLC</name>
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        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>3307.79000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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                  <isin value="XS2404247384"/>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
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            <upfrontPmnt>2249.96000000</upfrontPmnt>
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            <rcptCurCd>USD</rcptCurCd>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
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                  <derivAddlInfo>
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                  <rcptCurCd>USD</rcptCurCd>
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      <invstOrSec>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <derivativeInfo>
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                    <counterpartyName>CITIBANK, NATIONAL ASSOCIATION</counterpartyName>
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                  <derivAddlInfo>
                    <name>CITIBANK, NATIONAL ASSOCIATION</name>
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                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
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                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>0.00000000</notionalAmt>
                  <curCd>USD</curCd>
                </swapDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <principalAmt>5700000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>3.74300000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-23</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>23677.94000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>SWOP IRS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AFAW9F4"/>
        </identifiers>
        <balance>9065000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>48.22000000</valUSD>
        <pctVal>0.000004920877</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <swapDeriv derivCat="SWP">
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                    <counterpartyName>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</counterpartyName>
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                  <derivAddlInfo>
                    <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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                    <title>IRS USD</title>
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                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
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                    <invCountry>US</invCountry>
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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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                  </floatingRecDesc>
                  <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="11.06500000"/>
                  <terminationDt>2028-03-23</terminationDt>
                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>0.00000000</notionalAmt>
                  <curCd>USD</curCd>
                </swapDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <principalAmt>9065000.00000000</principalAmt>
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            <exercisePrice>11.06500000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-03-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>48.22000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS REPUBLIC OF GREECE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8ADGPJ34"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1104.85000000</valUSD>
        <pctVal>0.000112750553</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>HELLENIC REPUBLIC GOVERNMENT BOND</issuerName>
                <issueTitle>HELLENIC REPUBLIC GOVERNMENT BOND</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="GR0118019679"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2027-12-20</terminationDt>
            <upfrontPmnt>686.74000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>70000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>418.11000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUREX DEUTSCHLAND</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>Euro(FGBM) Bobl Futures</title>
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        <identifiers>
          <isin value="DE000F2Y2EZ8"/>
          <ticker value="FGBM M26-EUX"/>
          <other otherDesc="FIGI" value="BBG01X4YWR48"/>
        </identifiers>
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        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>-608.35000000</valUSD>
        <pctVal>-0.00006208245</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>EUREX DEUTSCHLAND</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BUNDESOBLIGATION</issuerName>
                <issueTitle>Bundesobligation</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="DE000BU25067"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-06-08</expDate>
            <notionalAmt>-269384.19000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-608.35000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK, NATIONAL ASSOCIATION</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>SWOP IRS EUR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AFAXLP6"/>
        </identifiers>
        <balance>-12280000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Other Units</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>-3859.57000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>CITIBANK, NATIONAL ASSOCIATION</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                  <derivAddlInfo>
                    <name>CITIBANK, NATIONAL ASSOCIATION</name>
                    <lei>E57ODZWZ7FF32TWEFA76</lei>
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                    <identifiers>
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                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="EUR" exchangeRt="0.00000000"/>
                    <valUSD>0.00000000</valUSD>
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                    <assetCat>DIR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="3.24100000"/>
                  <floatingPmntDesc curCd="EUR" fixedOrFloating="Floating" floatingRtIndex="3 MONTH EURO INTERBANK OFFER RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
                    <rtResetTenors>
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                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>0.00000000</notionalAmt>
                  <curCd>EUR</curCd>
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              </nestedDerivInfo>
            </descRefInstrmnt>
            <principalAmt>-12280000.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>3.24100000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2026-09-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3859.57000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASX 24</name>
        <lei>549300SDXT36XYPVWI79</lei>
        <title>ASX 10 Year Treasury Bond Futures</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="XT M26-SFE"/>
          <other otherDesc="FIGI" value="BBG01Z26HFP6"/>
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        <balance>28.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.39130435"/>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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            <counterparties>
              <counterpartyName>ASX 24</counterpartyName>
              <counterpartyLei>549300SDXT36XYPVWI79</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Australia (Commonwealth of)</issuerName>
                <issueTitle>2.75% SNR BDS 21/04/2024 AUD (TB137)</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="AU3TB0000143"/>
                  <other otherDesc="SEDOL" value="B8H46C4"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-06-15</expDate>
            <notionalAmt>2165639.21000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>16726.19000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>CDS HSBC BANK PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AFL8LA2"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85733882"/>
        <valUSD>7164.74000000</valUSD>
        <pctVal>0.000731165679</pctVal>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
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                <issuerName>HSBC BANK PLC</issuerName>
                <issueTitle>HSBC BANK PLC</issueTitle>
                <identifiers>
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                  <isin value="XS2831719062"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="EUR" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2027-06-20</terminationDt>
            <upfrontPmnt>5831.27000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <curCd>EUR</curCd>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>CDS CITIGROUP INC</title>
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        <identifiers>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>8907.25000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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            <descRefInstrmnt>
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                  <isin value="US172967ME81"/>
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            <swapFlag>Y</swapFlag>
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            <upfrontPmnt>5429.46000000</upfrontPmnt>
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            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1420000.00000000</notionalAmt>
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      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>SWOP IRS USD</title>
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        <identifiers>
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        <balance>-18130000.00000000</balance>
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        <descOthUnits>Other Units</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-35346.84000000</valUSD>
        <pctVal>-0.00360716456</pctVal>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                  <derivAddlInfo>
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                    <lei>7H6GLXDRUGQFU57RNE97</lei>
                    <title>IRS USD</title>
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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>US</invCountry>
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                  <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="4.26500000"/>
                  <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="THE SECURED OVERNIGHT FINANCING RATE" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
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        <name>UK CLEARING HOUSE LIMITED</name>
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        <name>THE TORONTO-DOMINION BANK</name>
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        <name>REGENTS OF THE UNIVERSITY OF CALIFORNIA (THE) (CA)</name>
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        <name>DIAMOND SPORTS GRP LLC- WARRANTS</name>
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        <name>PHILIP MORRIS INTERNATIONAL INC</name>
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        <name>BARCLAYS PLC</name>
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        <name>FREEDOM MORTGAGE HOLDINGS LLC</name>
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        <name>ENERGY TRANSFER LP</name>
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        <name>PGIM ETF Trust</name>
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        <name>BARCLAYS PLC</name>
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        <name>BANK5 2023-5YR4</name>
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        <name>Onemain Direct Auto Receivables Trust 2017-1</name>
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        <name>TIKEHAU CLO IV DAC</name>
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        <name>HUNTINGTON BANCSHARES INC</name>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>HUNTINGTON BANCSHARES INC</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>DEUTSCHE BANK AG NEW YORK BRANCH</name>
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        <name>TRI POINTE HOMES INC</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>FREDDIE MAC STACR REMIC TRUST 2021-DNA6</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>SHIRE ACQUISITIONS INVESTMENTS IRELAND DAC</name>
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        <name>ABBVIE INC</name>
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        <name>CANADIAN NATURAL RESOURCES LTD</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>KENNEDY LEWIS CLO 3 LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CROWN CITY CLO II</name>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>SMITHFIELD FOODS INC</name>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>TARGA RESOURCES CORP</name>
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        <name>OFSI BSL XIII CLO LTD</name>
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        <name>COLOMBIA, REPUBLIC OF - MINISTERO DE HACIENDA Y CREDITO PUBLICO</name>
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        <name>BOYD GAMING CORP</name>
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        <name>VNDO TRUST 2016-350P</name>
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        <name>MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP</name>
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      <invstOrSec>
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        <name>RELX CAPITAL INC</name>
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        <name>CORONADO FINANCE PTY LTD</name>
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        <name>BARCLAYS BANK PLC</name>
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      <invstOrSec>
        <name>ST. PAUL'S CLO X DAC</name>
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        <name>HOWARD HUGHES CORP (THE)</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>ASURION LLC / ASURION CO-ISSUER INC</name>
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        <title>ASUCOR 8.375 02/01/34 144A</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <issuerCat>USGSE</issuerCat>
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        <name>NEWELL BRANDS INC</name>
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        <name>KRONOS ACQUISITION HOLDINGS INC</name>
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        <name>1261229 B.C. LTD</name>
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        <name>GOLDMAN SACHS INTERNATIONAL</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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUNOCO LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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      <invstOrSec>
        <name>ESKOM HOLDINGS SOC LTD</name>
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        <curCd>USD</curCd>
        <valUSD>203658.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; COMPANY</name>
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          <isin value="US46647PBX33"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>440795.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRAZIL MINAS SPE</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="USG13201AA91"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40182.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HOWARD HUGHES CORP (THE)</name>
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          <isin value="US44267DAG25"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Gs Mortgage-backed Securities Trust 2026-PJ1</name>
        <lei>N/A</lei>
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          <isin value="US36275BAA52"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
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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>2056-09-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FORD CREDIT AUTO OWNER TRUST 2023-REV1</name>
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        <title>FORDR 2023-1 C</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLT 2025-10 MORTGAGE LOAN TRUST</name>
        <lei>213800STFGFKQEQSRE63</lei>
        <title>COLT 2025-10 A1</title>
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        <identifiers>
          <isin value="US12675XAA46"/>
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        <balance>824732.94000000</balance>
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        <curCd>USD</curCd>
        <valUSD>822127.77000000</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>2070-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.08800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS REPUBLIC OF FRANCE</title>
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        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>LINCOLN NATIONAL CORP</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>LNC 5.852 03/15/34</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SOLARIS ENERGY INFRASTRUCTURE LLC</name>
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        <title>SOILIN 6.375 05/15/31 144A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ACRISURE LLC / ACRISURE FINANCE INC</name>
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        <title>ACRISU 8.25 02/01/29 144A</title>
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          <isin value="US00489LAK98"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
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      <invstOrSec>
        <name>ASURION LLC / ASURION CO-ISSUER INC</name>
        <lei>N/A</lei>
        <title>ASUCOR 8 12/31/32 144A</title>
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          <isin value="US045941AA96"/>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC V5.574 07/25/29 MTN</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>PETROLEOS MEXICANOS SA DE CV</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PEMEX 8.75 06/02/29</title>
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        <balance>740000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2029-06-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PETROLEOS MEXICANOS SA DE CV</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PEMEX 6.7 02/16/32</title>
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        <balance>958000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
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        <debtSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PENSKE TRUCK LEASING CO LP / PENSKE TRUCK LEASING FINANCE CORP</name>
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        <valUSD>405442.12000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>DAVITA INC</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PENN ENTERTAINMENT INC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>INVITATION HOMES OPERATING PARTNERSHIP LP</name>
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        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHICAGO BOARD OF TRADE</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>BELLIS ACQUISITION CO PLC</name>
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        <title>ASSDLN 8 07/01/31 144A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>LAMB WESTON HOLDINGS INC</name>
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        <name>ROYAL CARIBBEAN CRUISES LTD</name>
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        <name>UNITED RENTALS (NORTH AMERICA) INC</name>
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        <name>FIFTH THIRD BANCORP</name>
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        <name>COLT 2026-2 MORTGAGE LOAN TRUST</name>
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        <name>STREAM INNOVATIONS 2026-1 ISSUER TRUST</name>
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        <name>TIKEHAU CLO XIII DAC</name>
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        <name>BPCE SA</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>PMT CREDIT RISK TRANSFER TRUST 2024-2R</name>
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        <title>PMTCR 2024-2R A</title>
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          <isin value="US69391NAA90"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CENOVUS ENERGY INC</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CSAIL 2018-CX11 COMMERCIAL MORTGAGE TRUST</name>
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        <title>CSAIL 2018-CX11 A4</title>
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          <isin value="US12652UAT60"/>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LEVEL 3 FINANCING INC</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>LVLT 6.875 06/30/33 144A</title>
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          <isin value="US527298CM39"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATION OPERATING CAPITAL CORP</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>TARGA RESOURCES CORP</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>PHINIA INC</name>
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        <name>BINOM MORTGAGE LOAN TRUST 2026-NQM1</name>
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        <name>VAR ENERGI ASA</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANK 2020-BNK30</name>
        <lei>N/A</lei>
        <title>BANK 2020-BN30 A3</title>
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        <balance>1950000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>VICI PROPERTIES LP</name>
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        <name>ENERGY TRANSFER LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ONEMAIN DIRECT AUTO RECEIVABLES TRUST 2023-1</name>
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        <name>COTE D'IVOIRE, REPUBLIC OF</name>
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        <name>NOVELIS CORP</name>
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        <name>FORD MOTOR CREDIT COMPANY LLC</name>
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        <name>BARCLAYS BANK PLC</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>ROMANIA, REPUBLIC OF - MINISTRY OF FINANCE</name>
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        <name>BLACK PEARL COMPUTE LLC</name>
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        <name>COLUMBIA PIPELINES OPERATING CO LLC</name>
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        <title>CPGX 6.036 11/15/33 144A</title>
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        <name>SG RESIDENTIAL MORTGAGE TRUST 2025-1</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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          <couponKind>Floating</couponKind>
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        <name>MORGAN STANLEY</name>
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      <invstOrSec>
        <name>GCAT 2026-NQM1 TRUST</name>
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      <invstOrSec>
        <name>ELMWOOD CLO 40 LTD</name>
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        <name>KENNEDY LEWIS CLO 2 LTD</name>
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        <name>BRASKEM NETHERLANDS FINANCE BV</name>
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        <name>ARES TRUST 2025-IND3</name>
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      <invstOrSec>
        <name>CANTOR FITZGERALD LP</name>
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        <name>OCTAGON 68 LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DEUTSCHE BANK AKTIENGESELLSCHAFT</name>
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        <name>CARVANA COMPANY</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>CVNA 9 06/01/30 144A</title>
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        <name>FIVE POINT OPERATING COMPANY LP</name>
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        <name>ROCKET MORTGAGE LLC / ROCKET MORTGAGE CO-ISSUER INC</name>
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        <name>JBS USA HOLDING LUX SARL</name>
        <lei>RB8RC03FUD8DSX57C193</lei>
        <title>JBS 6.25 03/01/56</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

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          <couponKind>Fixed</couponKind>
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        <name>MORGAN STANLEY PRIVATE BANK NA</name>
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        <name>FORD MOTOR CREDIT COMPANY LLC</name>
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          <couponKind>Fixed</couponKind>
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        <name>FIRST QUANTUM MINERALS LTD</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NCL CORP LTD</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MPT OPERATING PARTNERSHIP LP / MPT FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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        <name>SKEENA RESOURCES LTD</name>
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        <invCountry>CA</invCountry>
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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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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4 11/15/52</title>
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        <name>STARWOOD PROPERTY TRUST INC</name>
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        <name>VISTRA CORP</name>
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        <name>Kinbane 2024-RPL 2 Designated Activity Co.</name>
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        <balance>855000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>879170.36000000</valUSD>
        <pctVal>0.089719821433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN MA4282</title>
        <cusip>31418DXL1</cusip>
        <identifiers>
          <isin value="US31418DXL18"/>
        </identifiers>
        <balance>7050671.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5963722.88000000</valUSD>
        <pctVal>0.608601217942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN TOWER CORP</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMT 3.95 03/15/29</title>
        <cusip>03027XAU4</cusip>
        <identifiers>
          <isin value="US03027XAU46"/>
        </identifiers>
        <balance>660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>649389.08000000</valUSD>
        <pctVal>0.066270514736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS BANK PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>CDS COMISION FEDERAL DE ELECTRICIDAD CFE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SWB8AFG2PD1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-641.82000000</valUSD>
        <pctVal>-0.00006549808</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>COMISION FEDERAL DE ELECTRICIDAD</issuerName>
                <issueTitle>CFELEC 6.45 01/24/35 REGS</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <isin value="USP30179CR77"/>
                  <other otherDesc="SEDOL" value="BSTJDK4"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Default Event</otherPmntDesc>
            <terminationDt>2028-06-20</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-123.34000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>125000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-518.48000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META 6.45 05/15/66</title>
        <cusip>30303MAL6</cusip>
        <identifiers>
          <isin value="US30303MAL63"/>
        </identifiers>
        <balance>825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>830126.54000000</valUSD>
        <pctVal>0.084714872480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.45000000</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>SUNRUN PROMETHEUS ISSUER 2026-1 LLC</name>
        <lei>N/A</lei>
        <title>SUNRN 2026-1A A1</title>
        <cusip>86773LAA5</cusip>
        <identifiers>
          <isin value="US86773LAA52"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>995939.80000000</valUSD>
        <pctVal>0.101636207361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>BOEING COMPANY (THE)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BA 3.3 03/01/35</title>
        <cusip>097023BK0</cusip>
        <identifiers>
          <isin value="US097023BK04"/>
        </identifiers>
        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163456.77000000</valUSD>
        <pctVal>0.016680853772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>DISH DBS CORP</name>
        <lei>N/A</lei>
        <title>DISH 7.75 07/01/26</title>
        <cusip>25470XAY1</cusip>
        <identifiers>
          <isin value="US25470XAY13"/>
        </identifiers>
        <balance>1675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1670998.54000000</valUSD>
        <pctVal>0.170526325097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD8201</title>
        <cusip>3132DWDE0</cusip>
        <identifiers>
          <isin value="US3132DWDE03"/>
        </identifiers>
        <balance>1445652.38000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1265793.00000000</valUSD>
        <pctVal>0.129174875654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-01</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RY V4.696 08/06/31</title>
        <cusip>78017DAM0</cusip>
        <identifiers>
          <isin value="US78017DAM02"/>
        </identifiers>
        <balance>1140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1138397.27000000</valUSD>
        <pctVal>0.116174070956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.69600000</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>CLARIOS GLOBAL LP / CLARIOS US FINANCE CO INC</name>
        <lei>N/A</lei>
        <title>POWSOL 6.75 02/15/30 144A</title>
        <cusip>18060TAD7</cusip>
        <identifiers>
          <isin value="US18060TAD72"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25835.00000000</valUSD>
        <pctVal>0.002636476037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN MA4876</title>
        <cusip>31418EM23</cusip>
        <identifiers>
          <isin value="US31418EM236"/>
        </identifiers>
        <balance>2225833.54000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2291471.97000000</valUSD>
        <pctVal>0.233845981760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>WAB 4.7 09/15/28</title>
        <cusip>960386AM2</cusip>
        <identifiers>
          <isin value="US960386AM29"/>
        </identifiers>
        <balance>140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>140278.82000000</valUSD>
        <pctVal>0.014315531157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</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>NRTH 2024-PARK MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>NRTH 2025-PARK B</title>
        <cusip>669985AC7</cusip>
        <identifiers>
          <isin value="US669985AC72"/>
        </identifiers>
        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901125.00000000</valUSD>
        <pctVal>0.091960304587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.27001000</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>2026-07-27</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>
  <documents>XXXX</documents>
</edgarSubmission>
