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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FUCHSIA 2023 1 LONDON BRIDGE 2 PCC LTD</name>
        <lei>N/A</lei>
        <title>FUCHSIA 2023 1 LONDON BRIDGE 2 PCC LTD</title>
        <cusip>541917AA8</cusip>
        <identifiers>
          <isin value="US541917AA86"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250125.00000000</valUSD>
        <pctVal>2.812274591131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.29424000</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>TOMONI RE PTE LTD</name>
        <lei>N/A</lei>
        <title>TOMONI RE PTE LTD</title>
        <cusip>89009PAB4</cusip>
        <identifiers>
          <isin value="US89009PAB40"/>
          <other otherDesc="Internal" value="89009PAB4"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248787.50000000</valUSD>
        <pctVal>2.797236441144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.04424000</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>WRIGLEY RE LTD</name>
        <lei>N/A</lei>
        <title>WRIGLEY RE LTD</title>
        <cusip>982533AB7</cusip>
        <identifiers>
          <isin value="US982533AB77"/>
          <other otherDesc="Internal" value="982533AB7"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254800.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.79424000</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>MASCHPARK RE LTD</name>
        <lei>N/A</lei>
        <title>MASCHPARK RE LTD</title>
        <cusip>574591AA1</cusip>
        <identifiers>
          <isin value="US574591AA15"/>
          <other otherDesc="Internal" value="574591AA1"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253625.00000000</valUSD>
        <pctVal>2.851626759323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.79424000</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>Montoya Re Ltd.</name>
        <lei>N/A</lei>
        <title>MONTOYA RE LTD</title>
        <cusip>613752AE4</cusip>
        <identifiers>
          <isin value="US613752AE46"/>
          <other otherDesc="Internal" value="613752AE4"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>240637.50000000</valUSD>
        <pctVal>2.705602106640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>10.46255127</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>TORREY PINES RE LTD</name>
        <lei>N/A</lei>
        <title>TORREY PINES RE LTD</title>
        <cusip>89141WAF9</cusip>
        <identifiers>
          <isin value="US89141WAF95"/>
          <other otherDesc="Internal" value="89141WAF9"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254462.50000000</valUSD>
        <pctVal>2.861043170998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.51024000</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>CHARLES RIVER RE LTD</name>
        <lei>N/A</lei>
        <title>CHARLES RIVER RE LTD</title>
        <cusip>159873AA6</cusip>
        <identifiers>
          <isin value="US159873AA63"/>
          <other otherDesc="Internal" value="159873AA6"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254425.00000000</valUSD>
        <pctVal>2.860621540624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.04424000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BILL</title>
        <cusip>912797PG6</cusip>
        <identifiers>
          <isin value="US912797PG65"/>
          <other otherDesc="Internal" value="912797PG6"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>448447.31000000</valUSD>
        <pctVal>5.042106848073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-31</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>LOGISTICS RE LTD</name>
        <lei>N/A</lei>
        <title>LOGISTICS RE LTD</title>
        <cusip>54143LAB4</cusip>
        <identifiers>
          <isin value="US54143LAB45"/>
          <other otherDesc="Internal" value="54143LAB4"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254650.00000000</valUSD>
        <pctVal>2.863151322865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.29424000</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>Bayou Re Ltd.</name>
        <lei>N/A</lei>
        <title>BAYOU RE LTD</title>
        <cusip>07304LAA9</cusip>
        <identifiers>
          <isin value="US07304LAA98"/>
          <other otherDesc="Internal" value="07304LAA9"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258462.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>16.66562632</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>COMMONWEALTH RE LTD</name>
        <lei>N/A</lei>
        <title>COMMONWEALTH RE LTD</title>
        <cusip>203235AB2</cusip>
        <identifiers>
          <isin value="US203235AB20"/>
          <other otherDesc="Internal" value="203235AB2"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253062.50000000</valUSD>
        <pctVal>2.845302303721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.56424000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BILL</title>
        <cusip>912797MG9</cusip>
        <identifiers>
          <isin value="US912797MG92"/>
          <other otherDesc="Internal" value="912797MG9"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>497823.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-07</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>SANDERS RE III LTD</name>
        <lei>N/A</lei>
        <title>SANDERS RE III LTD</title>
        <cusip>80001QAA1</cusip>
        <identifiers>
          <isin value="US80001QAA13"/>
          <other otherDesc="Internal" value="80001QAA1"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>255387.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.84424000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PALM RE LTD</name>
        <lei>N/A</lei>
        <title>PALM RE LTD</title>
        <cusip>69664FAA6</cusip>
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          <isin value="US69664FAA66"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.79424000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Purple Re Ltd.</name>
        <lei>N/A</lei>
        <title>PURPLE RE LTD</title>
        <cusip>74639NAC7</cusip>
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          <isin value="US74639NAC74"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>255900.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>13.72013768</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blue Ridge Re Ltd.</name>
        <lei>N/A</lei>
        <title>BLUE RIDGE RE LTD</title>
        <cusip>096003AA6</cusip>
        <identifiers>
          <isin value="US096003AA60"/>
          <other otherDesc="Internal" value="096003AA6"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>254150.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.66151625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ACORN RE LTD.</name>
        <lei>N/A</lei>
        <title>ACORN RE LTD</title>
        <cusip>00485YAD1</cusip>
        <identifiers>
          <isin value="US00485YAD13"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>254825.00000000</valUSD>
        <pctVal>2.865118931275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.73174542</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>ALAMO RE LTD.</name>
        <lei>5493003E22VRD25G0S03</lei>
        <title>ALAMO RE LTD</title>
        <cusip>011395AJ9</cusip>
        <identifiers>
          <isin value="US011395AJ90"/>
          <other otherDesc="Internal" value="011395AJ9"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256925.00000000</valUSD>
        <pctVal>2.888730232190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>12.55529127</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>ETF Opportunities Trust</ncom:nameOfApplicant>
      <ncom:signature>Karen Shupe</ncom:signature>
      <ncom:signerName>Karen Shupe</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
