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      <regStreet1>8000 Norman Center Drive</regStreet1>
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      <seriesName>Ellington Income Opportunities Fund</seriesName>
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      <repPdEnd>2022-12-31</repPdEnd>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2007-A4</title>
        <cusip>46631JAL2</cusip>
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          <isin value="US46631JAL26"/>
          <ticker value="JPMMT"/>
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        <curCd>USD</curCd>
        <valUSD>129708.940000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.080000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Legacy Mortgage Asset Trust</name>
        <lei>N/A</lei>
        <title>Legacy Mortgage Asset Trust 2017-RPL1</title>
        <cusip>52472WAB5</cusip>
        <identifiers>
          <isin value="US52472WAB54"/>
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        <balance>1686892.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1510044.570000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-01-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.130000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac Stacr Remic Trust 2020-HQA2</title>
        <cusip>35565LBE5</cusip>
        <identifiers>
          <isin value="US35565LBE56"/>
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        <balance>1000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>946406.000000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.223570000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Greywolf CLO Ltd</name>
        <lei>5493000F00WO8WFFVM11</lei>
        <title>Greywolf CLO IV Ltd</title>
        <cusip>39810JAL0</cusip>
        <identifiers>
          <isin value="US39810JAL08"/>
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        <balance>1250000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>625000.000000000000</valUSD>
        <pctVal>1.7295921960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Halcyon Loan Advisors Funding</name>
        <lei>5493006GMMSBMRMTK635</lei>
        <title>Halcyon Loan Advisors Funding 2015-2 Ltd</title>
        <cusip>40538KAS1</cusip>
        <identifiers>
          <isin value="US40538KAS15"/>
          <ticker value="HLA"/>
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        <balance>1100000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1032259.800000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.284000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>HarborView Mortgage Loan Trust 2003-2</title>
        <cusip>41161PCD3</cusip>
        <identifiers>
          <isin value="US41161PCD33"/>
          <ticker value="HVMLT"/>
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        <balance>42743.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38878.920000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.690000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>HarborView Mortgage Loan Trust 2004-2</title>
        <cusip>41161PDK6</cusip>
        <identifiers>
          <isin value="US41161PDK66"/>
          <ticker value="HVMLT"/>
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        <balance>3354.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3132.210000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.850000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>HarborView Mortgage Loan Trust 2004-9</title>
        <cusip>41161PHS5</cusip>
        <identifiers>
          <isin value="US41161PHS56"/>
          <ticker value="HVMLT"/>
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        <balance>6413.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5675.720000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.510000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diamond CLO 2019-1 LLC</name>
        <lei>N/A</lei>
        <title>Diamond CLO 2019-1 LTD</title>
        <cusip>25257BAA0</cusip>
        <identifiers>
          <isin value="US25257BAA08"/>
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        <balance>1000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>945916.000000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.234000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elmwood CLO I Ltd.</name>
        <lei>N/A</lei>
        <title>Elmwood CLO I Ltd</title>
        <cusip>29001QAC4</cusip>
        <identifiers>
          <isin value="US29001QAC42"/>
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        <balance>1070000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>575422.460000000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>First Horizon Alternative Mort</name>
        <lei>N/A</lei>
        <title>First Horizon Alternative Mortgage Securities Trust 2004-AA3</title>
        <cusip>32051D6F4</cusip>
        <identifiers>
          <isin value="US32051D6F49"/>
          <ticker value="FHAMS"/>
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        <balance>129890.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94536.870000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.470000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>549300KB1O80CETXGJ21</lei>
        <title>Freddie Mac STACR Trust 2019-DNA3</title>
        <cusip>35564TBE9</cusip>
        <identifiers>
          <isin value="US35564TBE91"/>
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        <balance>500000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498125.000000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.770000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR 2019-HQA3</title>
        <cusip>35564XBE0</cusip>
        <identifiers>
          <isin value="US35564XBE04"/>
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        <balance>800000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>776500.000000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.120000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493003FQV7GR462GO02</lei>
        <title>Freddie Mac Stacr Remic Trust 2020-DNA1</title>
        <cusip>35565HBE4</cusip>
        <identifiers>
          <isin value="US35565HBE45"/>
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        <balance>1000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>865000.000000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.873570000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2002-19</title>
        <cusip>12669DBA5</cusip>
        <identifiers>
          <isin value="US12669DBA54"/>
          <ticker value="CWHL"/>
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        <balance>272306.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263270.020000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2003-53</title>
        <cusip>12669E5S1</cusip>
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          <isin value="US12669E5S12"/>
          <ticker value="CWHL"/>
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        <balance>292052.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208618.340000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2003-49</title>
        <cusip>12669EF76</cusip>
        <identifiers>
          <isin value="US12669EF769"/>
          <ticker value="CWHL"/>
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        <balance>80793.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76811.450000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Countrywide Home Loans</name>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2022-R04</title>
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      <invstOrSec>
        <name>Deutsche Mortgage Securities,</name>
        <lei>N/A</lei>
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          <ticker value="DMSI"/>
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      <invstOrSec>
        <name>CHCP 2021-FL1 Ltd.</name>
        <lei>N/A</lei>
        <title>CHCP 2021-FL1 Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2005-49CB</title>
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          <isin value="US12668AMJ15"/>
          <ticker value="CWALT"/>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2006-6CB</title>
        <cusip>12668BUA9</cusip>
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          <isin value="US12668BUA96"/>
          <ticker value="CWALT"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan T</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust 2006-J5</title>
        <cusip>12668EAD9</cusip>
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          <isin value="US12668EAD94"/>
          <ticker value="CWALT"/>
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        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2006-J2</title>
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          <isin value="US126694G938"/>
          <ticker value="CWHL"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2005-28</title>
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          <isin value="US126694PN26"/>
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      <invstOrSec>
        <name>ANNALY CAPITAL MGMT</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management Inc</title>
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        <assetCat>EP</assetCat>
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        <name>Banc of America Funding Corpor</name>
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      <invstOrSec>
        <name>Bear Stearns Alt-A Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ALT-A Trust 2005-10</title>
        <cusip>07386HZM6</cusip>
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          <isin value="US07386HZM68"/>
          <ticker value="BALTA"/>
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      <invstOrSec>
        <name>Bear Stearns Mortgage Funding</name>
        <lei>N/A</lei>
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          <isin value="US07401MAG69"/>
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        <name>Blackbird Capital Aircraft</name>
        <lei>N/A</lei>
        <title>Blackbird Capital Aircraft</title>
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      <invstOrSec>
        <name>Bluemountain CLO Ltd</name>
        <lei>N/A</lei>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR 2020-SFR1 Trust</title>
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        <assetCat>ABS-O</assetCat>
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        <securityLending>
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      <invstOrSec>
        <name>ACREC 2021-FL1 Ltd.</name>
        <lei>N/A</lei>
        <title>ACREC 2021-FL1 Ltd</title>
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      <invstOrSec>
        <name>AIR CANADA 2020-1C PTT</name>
        <lei>N/A</lei>
        <title>Air Canada 2020-1 Class C Pass Through Trust</title>
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      <invstOrSec>
        <name>AIR CANADA 2013-1A PTT</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Allegro CLO Ltd</name>
        <lei>635400EBXLHIKFL2MP73</lei>
        <title>Allegro CLO VII Ltd</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>ANN 04/04/27 @ 2.2315%</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="ELN:SWAP22-0230"/>
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              <counterpartyName>JP Morgan</counterpartyName>
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              <counterpartyName>JP Morgan</counterpartyName>
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      <invstOrSec>
        <name>AASET 2021-1 Trust</name>
        <lei>N/A</lei>
        <title>Aaset 2021-1 Trust</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AGNC INVESTMENT CORP</name>
        <lei>5TRACI5HRMELWV32OF39</lei>
        <title>AGNC Investment Corp</title>
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          <ticker value="AGNC"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1000324.200000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR 2020-SFR3 Trust</title>
        <cusip>001807AJ5</cusip>
        <identifiers>
          <isin value="US001807AJ51"/>
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        <balance>1662000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1592636.430000000000</valUSD>
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        <assetCat>ABS-O</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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        <name>CDS - QTR 12/20/2025 v. CDX.NA.HY.35.15-25 (Senior NR) @ 5%</name>
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          <other otherDesc="USER DEFINED" value="ELN:CDX.NA.HY.35.15-25"/>
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              <counterpartyName>Morgan Stanley</counterpartyName>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>SBA_JVB_03</name>
        <lei>N/A</lei>
        <title>SBA_JVB_03</title>
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          <other otherDesc="USER DEFINED" value="ELN:SBA_J"/>
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        <balance>9394651.000000000000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEMI 07/29/26 @ 0.7885%</name>
        <lei>N/A</lei>
        <title>SEMI 07/29/26 @ 0.7885%</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="ELN:SWAP21-0512"/>
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        <balance>1.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>165924</valUSD>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
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              <counterpartyName>JP Morgan</counterpartyName>
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        <name>Zais CLO 6 LTD</name>
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        <name>Venture CDO Ltd</name>
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        <name>SKYAF III E (Westjet)</name>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.123430000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tralee CLO Ltd</name>
        <lei>54930005YIOSJ9Z81114</lei>
        <title>Tralee CLO V Ltd</title>
        <cusip>89300GAA2</cusip>
        <identifiers>
          <isin value="US89300GAA22"/>
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        <balance>800000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302350.400000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential 2021-SFR3</title>
        <cusip>74333VAS3</cusip>
        <identifiers>
          <isin value="US74333VAS34"/>
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        <balance>750000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>677027.250000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Raptor Aircraft Finance LLC</name>
        <lei>549300QFYP8PTWJMXQ65</lei>
        <title>Raptor Aircraft Finance I LLC</title>
        <cusip>75383HAA9</cusip>
        <identifiers>
          <isin value="US75383HAA95"/>
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        <balance>952648.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>770168.460000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.213000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Residential Accredit Loans, In</name>
        <lei>N/A</lei>
        <title>RALI Series 2005-QA13 Trust</title>
        <cusip>761118PE2</cusip>
        <identifiers>
          <isin value="US761118PE29"/>
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        <balance>671323.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>605756.240000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.084401000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Residential Funding Mtg Sec I</name>
        <lei>N/A</lei>
        <title>RFMSI Series 2005-SA1 Trust</title>
        <cusip>76111XTB9</cusip>
        <identifiers>
          <isin value="US76111XTB90"/>
          <ticker value="RFMSI"/>
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        <balance>14310.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7900.870000000000</valUSD>
        <pctVal>0.0218644529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.610000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stonepeak</name>
        <lei>N/A</lei>
        <title>Stonepeak 2021-1 ABS</title>
        <cusip>78433XAE0</cusip>
        <identifiers>
          <isin value="US78433XAE04"/>
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        <balance>1262329.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1111381.850000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.142000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STAR 2022-SFR3 Trust</name>
        <lei>N/A</lei>
        <title>STAR 2022-SFR3 Trust</title>
        <cusip>78474PAN7</cusip>
        <identifiers>
          <isin value="US78474PAN78"/>
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        <balance>2020000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1982274.480000000000</valUSD>
        <pctVal>5.4856423534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.009140000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-524000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-524000</valUSD>
        <pctVal>-1.4500900971</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.65</repurchaseRt>
          <maturityDt>2022-09-26</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-524000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>720975</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-610000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-610000</valUSD>
        <pctVal>-1.6880819833</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.4</repurchaseRt>
          <maturityDt>2022-08-29</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-610000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>835954</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1914000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1914000</valUSD>
        <pctVal>-5.2967031409</pctVal>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.25</repurchaseRt>
          <maturityDt>2022-09-30</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-1914000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2416252.5</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-647000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-647000</valUSD>
        <pctVal>-1.7904738413</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.65</repurchaseRt>
          <maturityDt>2022-09-26</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-647000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>810000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1042000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1042000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>3.55</repurchaseRt>
          <maturityDt>2022-09-26</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-1042000</principalAmt>
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              <collateralVal>1532547.2</collateralVal>
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              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-1188000</balance>
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        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1188000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="LUCID MANAGEMENT AND CAPITAL PARTNERS LP" isCleared="Y"/>
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          <repurchaseRt>2.03843</repurchaseRt>
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            <repurchaseCollateral>
              <principalAmt>-1188000</principalAmt>
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              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-776000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-776000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-776000</principalAmt>
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              <collateralVal>1032259.8</collateralVal>
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              <invstCat>ABS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
        <title>USD REPO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <balance>-728000</balance>
        <units>OU</units>
        <descOthUnits>Private Investment</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-728000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>N/A</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="RBC CAPITAL MARKETS, LLC" isCleared="Y"/>
          <isTriParty>Y</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>-728000</principalAmt>
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              <collateralCd>USD</collateralCd>
              <invstCat>ABS</invstCat>
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          </repurchaseCollaterals>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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          <transCat>Reverse repurchase</transCat>
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        <securityLending>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <transCat>Reverse repurchase</transCat>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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        <assetCat>RA</assetCat>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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          <transCat>Reverse repurchase</transCat>
          <clearedCentCparty centralCounterparty="J.P. MORGAN SECURITIES LLC" isCleared="Y"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="USDREPO"/>
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      <invstOrSec>
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        <lei>N/A</lei>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>USD REPO</name>
        <lei>N/A</lei>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>USD REPO</name>
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    <signature>
      <ncom:dateSigned>2022-08-26</ncom:dateSigned>
      <ncom:nameOfApplicant>Ellington Income Opportunities Fund</ncom:nameOfApplicant>
      <ncom:signature>/s/ Christopher Moran</ncom:signature>
      <ncom:signerName>Christopher Moran</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
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  </formData>
</edgarSubmission>
