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          <annualizedRt>4.192000000000</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>GS MORTGAGE SECURITIES TRUST 2016-GS3</name>
        <lei>N/A</lei>
        <title>GSMS 2016-GS3 B</title>
        <cusip>36251PAJ3</cusip>
        <identifiers>
          <isin value="US36251PAJ30"/>
          <ticker value="GSMS"/>
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        <balance>45000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44494.04</valUSD>
        <pctVal>0.0279363897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.395000000000</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>CITIGROUP COMMERCIAL MORTGAGE TRUST 2017-P8</name>
        <lei>N/A</lei>
        <title>CGCMT 2017-P8 D</title>
        <cusip>17326DAM4</cusip>
        <identifiers>
          <isin value="US17326DAM48"/>
          <ticker value="CGCMT"/>
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        <balance>219000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>140005.52</valUSD>
        <pctVal>0.0879050042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>GS MORTGAGE SECURITIES TRUST 2016-GS2</name>
        <lei>N/A</lei>
        <title>GSMS 2016-GS2 D</title>
        <cusip>36252TAA3</cusip>
        <identifiers>
          <isin value="US36252TAA34"/>
          <ticker value="GSMS"/>
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        <balance>975000</balance>
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        <curCd>USD</curCd>
        <valUSD>841101.69</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.753000000000</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>FOCUS BRANDS FUNDING LLC</name>
        <lei>N/A</lei>
        <title>FOCUS 2017-1A A2II</title>
        <cusip>34417MAB3</cusip>
        <identifiers>
          <isin value="US34417MAB37"/>
          <ticker value="FOCUS"/>
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        <balance>2502500</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2494765.52</valUSD>
        <pctVal>1.5663837651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.093000000000</annualizedRt>
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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>GS MORTGAGE-BACKED SECURITIES TRUST 2019-SL1</name>
        <lei>N/A</lei>
        <title>GSMBS 2019-SL1 B1</title>
        <cusip>36257EAJ2</cusip>
        <identifiers>
          <isin value="US36257EAJ29"/>
          <ticker value="GSMBS"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>333776.14</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.642580000000</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>GOTO FOODS FUNDING LLC</name>
        <lei>N/A</lei>
        <title>FOCUS 2026-1A A2</title>
        <cusip>38348UAB0</cusip>
        <identifiers>
          <isin value="US38348UAB08"/>
          <ticker value="FOCUS"/>
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        <balance>2580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2583252.61</valUSD>
        <pctVal>1.6219419889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.854000000000</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>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNR 2016-70 IO</title>
        <cusip>38379URP3</cusip>
        <identifiers>
          <isin value="US38379URP39"/>
          <ticker value="GNR"/>
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        <balance>6800778.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265029.75</valUSD>
        <pctVal>0.1664037339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-04-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.755680000000</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 - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4.125 02/15/36</title>
        <cusip>91282CPZ8</cusip>
        <identifiers>
          <isin value="US91282CPZ85"/>
          <ticker value="T"/>
          <other otherDesc="SEDOL" value="BWBZNP3"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2932500</valUSD>
        <pctVal>1.8412232950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</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>GS MORTGAGE SECURITIES TRUST 2016-GS2</name>
        <lei>N/A</lei>
        <title>GSMS 2016-GS2 C</title>
        <cusip>36252TAY1</cusip>
        <identifiers>
          <isin value="US36252TAY10"/>
          <ticker value="GSMS"/>
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        <balance>1914000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1839676.32</valUSD>
        <pctVal>1.1550741332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.721084000000</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>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
        <lei>549300WZ62L3Y22NOZ64</lei>
        <title>GSMS 2017-GS6 XA</title>
        <cusip>36253PAE2</cusip>
        <identifiers>
          <isin value="US36253PAE25"/>
          <ticker value="GSMS"/>
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        <balance>24404732.95</balance>
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        <curCd>USD</curCd>
        <valUSD>141164.3</valUSD>
        <pctVal>0.0886325652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.137239000000</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>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
        <lei>549300WZ62L3Y22NOZ64</lei>
        <title>GSMS 2018-GS9 XA</title>
        <cusip>36255NAV7</cusip>
        <identifiers>
          <isin value="US36255NAV73"/>
          <ticker value="GSMS"/>
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        <balance>41692225.34</balance>
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        <curCd>USD</curCd>
        <valUSD>210141.32</valUSD>
        <pctVal>0.1319410379</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.551716000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS MORTGAGE SECURITIES CORP TRUST 2017-GPTX</name>
        <lei>N/A</lei>
        <title>GSMS 2017-GPTX A</title>
        <cusip>36257CAA5</cusip>
        <identifiers>
          <isin value="US36257CAA53"/>
          <ticker value="GSMS"/>
          <other otherDesc="SEDOL" value="BD3FH56"/>
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        <balance>155087</balance>
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        <curCd>USD</curCd>
        <valUSD>138757.22</valUSD>
        <pctVal>0.0871212364</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.855550000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OXFORD FINANCE FUNDING TRUST 2025-1</name>
        <lei>N/A</lei>
        <title>OXFIN 2025-1A B</title>
        <cusip>69144BAC1</cusip>
        <identifiers>
          <isin value="US69144BAC19"/>
          <ticker value="OXFIN"/>
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        <balance>1740000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1731768.93</valUSD>
        <pctVal>1.0873225219</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.486000000000</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>GS MORTGAGE-BACKED SECURITIES TRUST 2020-PJ3</name>
        <lei>N/A</lei>
        <title>GSMBS 2020-PJ3 B2A</title>
        <cusip>36258WBH4</cusip>
        <identifiers>
          <isin value="US36258WBH43"/>
          <ticker value="GSMBS"/>
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        <balance>1328671.81</balance>
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        <curCd>USD</curCd>
        <valUSD>1156969.41</valUSD>
        <pctVal>0.7264242214</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.407710000000</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>OXFORD FINANCE CREDIT FUND III 2025</name>
        <lei>N/A</lei>
        <title>OXFINF 2025-A B</title>
        <cusip>69145VAB8</cusip>
        <identifiers>
          <isin value="US69145VAB80"/>
          <ticker value="OXFINF"/>
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        <balance>3100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3078904.5</valUSD>
        <pctVal>1.9331460148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.194000000000</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>REGATTA VII FUNDING LTD</name>
        <lei>N/A</lei>
        <title>REGATTA VII FUNDING LTD</title>
        <cusip>75888ABY1</cusip>
        <identifiers>
          <isin value="US75888ABY10"/>
          <ticker value="REGT7"/>
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        <balance>1725000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1676874.23</valUSD>
        <pctVal>1.0528558892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.34458</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>HONO MORTGAGE TRUST 2021-LULU</name>
        <lei>N/A</lei>
        <title>HONO 2021-LULU C</title>
        <cusip>40390MAJ4</cusip>
        <identifiers>
          <isin value="US40390MAJ45"/>
          <ticker value="HONO"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344355.62</valUSD>
        <pctVal>0.2162099196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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      </invstOrSec>
      <invstOrSec>
        <name>OBX 2022-J1 TRUST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESTN 2026-TOWN</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESTN 2026-TOWN</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>ESTN 2026-TOWN</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX TRUST 2018-BILT</name>
        <lei>N/A</lei>
        <title>BX 2019-OC11 E</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BX TRUST 2018-BILT</name>
        <lei>N/A</lei>
        <title>BX 2021-21M G</title>
        <cusip>05609CAS6</cusip>
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          <isin value="US05609CAS61"/>
          <ticker value="BX"/>
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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>2036-10-15</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>BXHPP TRUST 2021-FILM</name>
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          <isin value="US05609JAA07"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>BXHPP TRUST 2021-FILM</name>
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          <isin value="US05609JAJ16"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BENCHMARK 2018-B5 MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BENCHMARK 2024-V5 MORTGAGE TRUST</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>BENCHMARK 2026-V20 MORTGAGE TRUST</name>
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      <invstOrSec>
        <name>JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2014-C25</name>
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        <name>BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2026-2</name>
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          <isin value="US10807VAG05"/>
          <ticker value="BLAST"/>
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        <name>JP MORGAN MORTGAGE TRUST</name>
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        <name>JP MORGAN MORTGAGE TRUST 2020-1</name>
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      <invstOrSec>
        <name>JP MORGAN MORTGAGE TRUST 2019-9</name>
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      <invstOrSec>
        <name>JP MORGAN MORTGAGE TRUST 2020-LTV2</name>
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        <title>JPMMT 2020-LTV2 B4</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BX COMMERCIAL MORTGAGE TRUST 2025-BCAT</name>
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          <isin value="US12433HAG92"/>
          <ticker value="BX"/>
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        <balance>1750000</balance>
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        <curCd>USD</curCd>
        <valUSD>1757104.48</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JIMMY JOHN'S FUNDING LLC</name>
        <lei>N/A</lei>
        <title>JIMMY 2017-1A A2II</title>
        <cusip>47760QAB9</cusip>
        <identifiers>
          <isin value="US47760QAB95"/>
          <ticker value="JIMMY"/>
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        <curCd>USD</curCd>
        <valUSD>1263702.28</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>JW COMMERCIAL MORTGAGE TRUST 2026-MRCO</name>
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        <title>JW 2026-MRCO E</title>
        <cusip>481948AJ6</cusip>
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          <isin value="US481948AJ63"/>
          <ticker value="JW"/>
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        <balance>2080000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.125390000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KNDR TRUST 2021-KIND</name>
        <lei>N/A</lei>
        <title>KNDR 2021-KIND B</title>
        <cusip>482606AJ9</cusip>
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          <isin value="US482606AJ98"/>
          <ticker value="KNDR"/>
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        <balance>1051366.05</balance>
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        <curCd>USD</curCd>
        <valUSD>1047300.31</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CSTL Commercial Mortgage Trust 2026-GATE3</name>
        <lei>N/A</lei>
        <title>KSL 2026-HT3 E</title>
        <cusip>48269AAJ1</cusip>
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          <isin value="US48269AAJ16"/>
          <ticker value="KSL"/>
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        <balance>2210000</balance>
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        <curCd>USD</curCd>
        <valUSD>2215525</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LSTAR COMMERCIAL MORTGAGE TRUST 2016-4</name>
        <lei>N/A</lei>
        <title>LNSTR 2016-4 D</title>
        <cusip>50219QAN4</cusip>
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          <isin value="US50219QAN43"/>
          <ticker value="LNSTR"/>
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        <balance>206587.4</balance>
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        <curCd>USD</curCd>
        <valUSD>192179.91</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.648506000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST 2015-2</name>
        <lei>N/A</lei>
        <title>MCMLT 2017-2 B2</title>
        <cusip>59980AAF4</cusip>
        <identifiers>
          <isin value="US59980AAF49"/>
          <ticker value="MCMLT"/>
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        <balance>1494480</balance>
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        <curCd>USD</curCd>
        <valUSD>1348835</valUSD>
        <pctVal>0.8468905109</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.051530000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST 2018-2</name>
        <lei>N/A</lei>
        <title>MCMLT 2018-2 B2</title>
        <cusip>59980MAL5</cusip>
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          <isin value="US59980MAL54"/>
          <ticker value="MCMLT"/>
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        <balance>293747.43</balance>
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        <curCd>USD</curCd>
        <valUSD>250590.88</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST 2016-1</name>
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        <title>MCMLT 2016-1 B3</title>
        <cusip>59980TAG1</cusip>
        <identifiers>
          <isin value="US59980TAG13"/>
          <ticker value="MCMLT"/>
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        <balance>287245</balance>
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        <curCd>USD</curCd>
        <valUSD>256299.49</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.876720000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MILL CITY MORTGAGE LOAN TRUST 2017-1</name>
        <lei>N/A</lei>
        <title>MCMLT 2017-1 B2</title>
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        <identifiers>
          <isin value="US59981HAF82"/>
          <ticker value="MCMLT"/>
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        <balance>1210000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY CAPITAL I TRUST 2019-L3</name>
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        <title>MSC 2019-L3 D</title>
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          <isin value="US61691UAJ88"/>
          <ticker value="MSC"/>
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        <name>MORGAN STANLEY CAPITAL I TRUST 2019-L3</name>
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        <name>MORGAN STANLEY CAPITAL I TRUST 2019-NUGS</name>
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        <name>MORGAN STANLEY CAPITAL I TRUST 2016-UBS11</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY CAPITAL I TRUST 2018-BOP</name>
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      <invstOrSec>
        <name>MOUNTAIN VIEW CLO XVIII LTD</name>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>NEIGHBORLY ISSUER LLC</name>
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        <title>NBLY 2021-1A A2</title>
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          <isin value="US64016NAA54"/>
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        <balance>1914250</balance>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEIGHBORLY ISSUER LLC</name>
        <lei>N/A</lei>
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        <cusip>64016NAC1</cusip>
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          <isin value="US64016NAC11"/>
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        <balance>656845</balance>
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        <curCd>USD</curCd>
        <valUSD>622818.52</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FIRST MARYLAND CAPITAL I</name>
        <lei>N/A</lei>
        <title>MTB F 01/15/27</title>
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          <isin value="US320808AD01"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>FLATIRON RR CLO 22 LLC</name>
        <lei>5493000CIUZPG6SZO932</lei>
        <title>FLAT 2021-2A DR</title>
        <cusip>33883QAW5</cusip>
        <identifiers>
          <isin value="US33883QAW50"/>
          <ticker value="FLAT"/>
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        <balance>1845000</balance>
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        <curCd>USD</curCd>
        <valUSD>1835029.62</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FOCUS BRANDS FUNDING LLC</name>
        <lei>N/A</lei>
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        <cusip>34417RAC0</cusip>
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          <isin value="US34417RAC07"/>
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        <balance>487500</balance>
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        <curCd>USD</curCd>
        <valUSD>505951.44</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-30</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CRB COMMERCIAL MORTGAGE TRUST 2025-1</name>
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        <title>CRBCM 2025-CRE1 XA</title>
        <cusip>12629SAE4</cusip>
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          <isin value="US12629SAE46"/>
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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>2058-09-17</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSAIL 2016-C5 COMMERCIAL MORTGAGE TRUST</name>
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        <cusip>12636LBE9</cusip>
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          <isin value="US12636LBE92"/>
          <ticker value="CSAIL"/>
          <other otherDesc="SEDOL" value="BD6CLC9"/>
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        <curCd>USD</curCd>
        <valUSD>150450.86</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>2048-11-18</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSAIL 2016-C6 COMMERCIAL MORTGAGE TRUST</name>
        <lei>549300C2HE5FJAWYZL57</lei>
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        <cusip>12636MAK4</cusip>
        <identifiers>
          <isin value="US12636MAK45"/>
          <ticker value="CSAIL"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1448644.65</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>2049-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.923900000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSMC TRUST 2014-SAF1</name>
        <lei>N/A</lei>
        <title>CSMC 2014-SAF1 B3</title>
        <cusip>12648FAS8</cusip>
        <identifiers>
          <isin value="US12648FAS83"/>
          <ticker value="CSMC"/>
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        <balance>910007.61</balance>
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        <curCd>USD</curCd>
        <valUSD>881144.44</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.850250000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ARBOR MULTIFAMILY MORTGAGE SECURITIES TRUST 2021-MF3</name>
        <lei>N/A</lei>
        <title>AMMST 2021-MF3 D</title>
        <cusip>03882KBA9</cusip>
        <identifiers>
          <isin value="US03882KBA97"/>
          <ticker value="AMMST"/>
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        <balance>1343000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1086136.21</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSMC TRUST 2017-CALI</name>
        <lei>N/A</lei>
        <title>CSMC 2017-CALI E</title>
        <cusip>12652FAN2</cusip>
        <identifiers>
          <isin value="US12652FAN24"/>
          <ticker value="CSMC"/>
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        <balance>360000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54766.8</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-12</maturityDt>
          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSMC TRUST 2017-TIME</name>
        <lei>N/A</lei>
        <title>CSMC 2017-TIME A</title>
        <cusip>12652XAA1</cusip>
        <identifiers>
          <isin value="US12652XAA19"/>
          <ticker value="CSMC"/>
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        <balance>2300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2200300.29</valUSD>
        <pctVal>1.3814984314</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.646300000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BALLYROCK CLO 26 LTD</name>
        <lei>254900KWGJ97WUSMSQ74</lei>
        <title>BALLY 2024-26A C1</title>
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          <isin value="US05876NAJ81"/>
          <ticker value="BALLY"/>
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        <balance>1280000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1282173.44</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-27</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CSMC TRUST 2017-TIME</name>
        <lei>N/A</lei>
        <title>CSMC 2017-TIME B</title>
        <cusip>12652XAE3</cusip>
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          <isin value="US12652XAE31"/>
          <ticker value="CSMC"/>
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        <balance>1745000</balance>
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        <curCd>USD</curCd>
        <valUSD>1529861.04</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.653100000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DB MASTER FINANCE LLC</name>
        <lei>549300F17UZJL70BPB08</lei>
        <title>DNKN 2021-1A A23</title>
        <cusip>233046AS0</cusip>
        <identifiers>
          <isin value="US233046AS01"/>
          <ticker value="DUNKN"/>
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        <balance>850905</balance>
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        <curCd>USD</curCd>
        <valUSD>756547.97</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.791000000000</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>BANK5 2026-5YR20</name>
        <lei>N/A</lei>
        <title>BANK5 2026-5YR21 C</title>
        <cusip>06644BAX2</cusip>
        <identifiers>
          <isin value="US06644BAX29"/>
          <ticker value="BANK5"/>
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        <balance>1665000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1637459.24</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-04-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.159730000000</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>PALMER SQUARE LOAN FUNDING 2024-3 LTD</name>
        <lei>N/A</lei>
        <title>PSTAT 2024-3A DR</title>
        <cusip>69690RAE0</cusip>
        <identifiers>
          <isin value="US69690RAE09"/>
          <ticker value="PSTAT"/>
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        <balance>1320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1300002</valUSD>
        <pctVal>0.8162298264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.399570000000</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>PALMER SQUARE LOAN FUNDING 2025-2 LTD</name>
        <lei>N/A</lei>
        <title>PSTAT 2025-2A C</title>
        <cusip>69704AAG6</cusip>
        <identifiers>
          <isin value="US69704AAG67"/>
          <ticker value="PSTAT"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>974845</valUSD>
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        <name>LEHMAN XS TRUST SERIES 2005-5N</name>
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        <name>SERVICEMASTER FUNDING LLC</name>
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        <name>AB ISSUER LLC</name>
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        <name>SERVICEMASTER FUNDING LLC</name>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-30</maturityDt>
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          <annualizedRt>3.337000000000</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>SERVICEMASTER FUNDING LLC</name>
        <lei>N/A</lei>
        <title>SERV 2021-1 A2II</title>
        <cusip>81761TAG0</cusip>
        <identifiers>
          <isin value="US81761TAG04"/>
          <ticker value="SERV"/>
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        <balance>738262.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>636736.43</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.113000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2021-MM1</name>
        <lei>N/A</lei>
        <title>GSMBS 2021-MM1 A6</title>
        <cusip>36264JAF0</cusip>
        <identifiers>
          <isin value="US36264JAF03"/>
          <ticker value="GSMBS"/>
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        <balance>1353162.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1199145.32</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CD 2019-CD8 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CD 2019-CD8 B</title>
        <cusip>12515BAH1</cusip>
        <identifiers>
          <isin value="US12515BAH15"/>
          <ticker value="CD"/>
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        <balance>2544000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2214247.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.366000000000</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>GLS AUTO RECEIVABLES ISSUER TRUST 2024-3</name>
        <lei>N/A</lei>
        <title>GCAR 2026-1A E</title>
        <cusip>36274AAG5</cusip>
        <identifiers>
          <isin value="US36274AAG58"/>
          <ticker value="GCAR"/>
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        <balance>1545000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1533520.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.320000000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CD 2019-CD8 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CD 2019-CD8 C</title>
        <cusip>12515BAJ7</cusip>
        <identifiers>
          <isin value="US12515BAJ70"/>
          <ticker value="CD"/>
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        <balance>1198000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>969120.3</valUSD>
        <pctVal>0.6084797518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.719000000000</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>GLS AUTO RECEIVABLES ISSUER TRUST 2025-2</name>
        <lei>N/A</lei>
        <title>GCAR 2025-2A E</title>
        <cusip>37989BAN2</cusip>
        <identifiers>
          <isin value="US37989BAN29"/>
          <ticker value="GCAR"/>
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        <balance>1390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1445172.44</valUSD>
        <pctVal>0.9073777193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.730000000000</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>CFCRE 2017-C8 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CFCRE 2017-C8 C</title>
        <cusip>12532CBD6</cusip>
        <identifiers>
          <isin value="US12532CBD65"/>
          <ticker value="CFCRE"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>971793.8</valUSD>
        <pctVal>0.6101583572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.860896000000</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>CIM TRUST 2018-INV1</name>
        <lei>N/A</lei>
        <title>CIM 2018-INV1 B4</title>
        <cusip>12553XBA0</cusip>
        <identifiers>
          <isin value="US12553XBA00"/>
          <ticker value="CIM"/>
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        <balance>971669.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>927925.28</valUSD>
        <pctVal>0.5826147115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.685350000000</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>CIFC FUNDING 2022-IV LTD</name>
        <lei>N/A</lei>
        <title>CIFC 2022-4A DR</title>
        <cusip>12567WAS8</cusip>
        <identifiers>
          <isin value="US12567WAS89"/>
          <ticker value="CIFC"/>
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        <balance>1800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1782027</valUSD>
        <pctVal>1.1188779624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.279520000000</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>CAJUN GLOBAL LLC</name>
        <lei>N/A</lei>
        <title>CAJUN 2025-2A M</title>
        <cusip>12803VAD7</cusip>
        <identifiers>
          <isin value="US12803VAD73"/>
          <ticker value="CAJUN"/>
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        <balance>2240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2210661.15</valUSD>
        <pctVal>1.3880036852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.720000000000</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>CITIGROUP COMMERCIAL MORTGAGE TRUST 2016-C2</name>
        <lei>N/A</lei>
        <title>CGCMT 2016-C2 D</title>
        <cusip>17291CAA3</cusip>
        <identifiers>
          <isin value="US17291CAA36"/>
          <ticker value="CGCMT"/>
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        <balance>1300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1249413.49</valUSD>
        <pctVal>0.7844669132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.250000000000</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>CITIGROUP COMMERCIAL MORTGAGE TRUST 2016-C2</name>
        <lei>N/A</lei>
        <title>CGCMT 2016-C2 C</title>
        <cusip>17291CBV6</cusip>
        <identifiers>
          <isin value="US17291CBV63"/>
          <ticker value="CGCMT"/>
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        <balance>2200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2171592.06</valUSD>
        <pctVal>1.3634734486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.031000000000</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>BANK OF AMERICA MERRILL LYNCH COMMERCIAL MORTGAGE TRUST 2017-BNK3</name>
        <lei>N/A</lei>
        <title>BACM 2017-BNK3 D</title>
        <cusip>06427DAC7</cusip>
        <identifiers>
          <isin value="US06427DAC74"/>
          <ticker value="BACM"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>955287.3</valUSD>
        <pctVal>0.5997944519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</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>BANK OF AMERICA MERRILL LYNCH COMMERCIAL MORTGAGE TRUST 2017-BNK3</name>
        <lei>N/A</lei>
        <title>BACM 2017-BNK3 C</title>
        <cusip>06427DAX1</cusip>
        <identifiers>
          <isin value="US06427DAX12"/>
          <ticker value="BACM"/>
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        <balance>1600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1574608.8</valUSD>
        <pctVal>0.9886466848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.352000000000</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>BRAVO RESIDENTIAL FUNDING TRUST 2024-NQM4</name>
        <lei>254900NOKQW417VKV943</lei>
        <title>BRAVO 2024-NQM4 A1A</title>
        <cusip>10568NAA0</cusip>
        <identifiers>
          <isin value="US10568NAA00"/>
          <ticker value="BRAVO"/>
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        <balance>844265.21</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>833261.82</valUSD>
        <pctVal>0.5231785418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.343312000000</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>BRAVO RESIDENTIAL FUNDING TRUST 2024-NQM8</name>
        <lei>N/A</lei>
        <title>BRAVO 2024-NQM8 A1A</title>
        <cusip>10571DAB5</cusip>
        <identifiers>
          <isin value="US10571DAB55"/>
          <ticker value="BRAVO"/>
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        <balance>905925.45</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>891212.59</valUSD>
        <pctVal>0.5595639835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.300000000000</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>BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2025-3</name>
        <lei>N/A</lei>
        <title>BLAST 2025-3 E</title>
        <cusip>107920AG5</cusip>
        <identifiers>
          <isin value="US107920AG51"/>
          <ticker value="BLAST"/>
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        <balance>1390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1379490.63</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2026-1</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1356331.98</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>BRIDGECREST LENDING AUTO SECURITIZATION TRUST 2023-1</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CGCMT 2014-GC25 D</title>
        <cusip>17322YAM2</cusip>
        <identifiers>
          <isin value="US17322YAM21"/>
          <ticker value="UBSC"/>
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        <balance>527310</balance>
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        <curCd>USD</curCd>
        <valUSD>226796.03</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.548000000000</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>CITIGROUP MORTGAGE LOAN TRUST 2021-J1</name>
        <lei>N/A</lei>
        <title>CMLTI 2021-J1 A4A</title>
        <cusip>17329EAX5</cusip>
        <identifiers>
          <isin value="US17329EAX58"/>
          <ticker value="CMLTI"/>
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        <balance>1738453.25</balance>
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        <curCd>USD</curCd>
        <valUSD>1427908.13</valUSD>
        <pctVal>0.8965380092</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHMS K736 X1</title>
        <cusip>3137FNWZ9</cusip>
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          <ticker value="FHLMC"/>
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        <balance>4728.28</balance>
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        <curCd>USD</curCd>
        <valUSD>0.14</valUSD>
        <pctVal>0.0000000879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.262701000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <title>FHMS K742 X1</title>
        <cusip>3137H0GP7</cusip>
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        <balance>28758743.17</balance>
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        <curCd>USD</curCd>
        <valUSD>243106.28</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.693778000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAG</name>
        <lei>5493007OD9MH69ES1S63</lei>
        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-LC24</title>
        <cusip>95000HBL5</cusip>
        <identifiers>
          <isin value="US95000HBL50"/>
          <ticker value="WFCM"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>986706.8</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.621000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO MORTGAGE BACKED SE</name>
        <lei>N/A</lei>
        <title>WELLS FARGO MORTGAGE BACKED SECURITIES 2022-2 TRUST</title>
        <cusip>949930BH3</cusip>
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          <isin value="US949930BH37"/>
          <ticker value="WFMBS"/>
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        <balance>2222921.47</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAG</name>
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        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2020-C57</title>
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          <ticker value="WFCM"/>
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          <maturityDt>2053-08-15</maturityDt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-AURA</name>
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        <title>WFCM 2025-AURA D</title>
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          <isin value="US95004VAG23"/>
          <ticker value="WFCM"/>
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        <balance>1096046.75</balance>
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        <curCd>USD</curCd>
        <valUSD>1094852.17</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ZAXBYS FUNDING LLC</name>
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          <isin value="US98920MAA09"/>
          <ticker value="ZAXBY"/>
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        <balance>1104900</balance>
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        <curCd>USD</curCd>
        <valUSD>1053477.29</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-30</maturityDt>
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          <annualizedRt>3.238000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-26</ncom:dateSigned>
      <ncom:nameOfApplicant>Touchstone ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Terri Lucas</ncom:signature>
      <ncom:signerName>Terri Lucas</ncom:signerName>
      <ncom:title>Controller &amp; Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
