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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FERGUSON FINANCE PLC</name>
        <lei>2138003A7ZEU931DZL61</lei>
        <title>Ferguson Finance plc</title>
        <cusip>314890AD6</cusip>
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          <isin value="US314890AD60"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188578.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>SMITHFIELD FOODS INC</name>
        <lei>CVTIPZRZJC0JQEZLL598</lei>
        <title>Smithfield Foods, Inc.</title>
        <cusip>832248BD9</cusip>
        <identifiers>
          <isin value="US832248BD93"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197406.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</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>NATIONWIDE MUTUAL INSURA</name>
        <lei>Z7LVXXWM8HZPKF5T2355</lei>
        <title>Nationwide Mutual Insurance Co.</title>
        <cusip>638671AN7</cusip>
        <identifiers>
          <isin value="US638671AN73"/>
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        <balance>950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>789808.25000000</valUSD>
        <pctVal>0.561007181153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</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>ELANCO ANIMAL HEALTH INC</name>
        <lei>N/A</lei>
        <title>Elanco Animal Health, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US28414BAF31"/>
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        <balance>94202.48310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88785.84000000</valUSD>
        <pctVal>0.063065299488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.81000000</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>BAT CAPITAL CORP</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBP9</cusip>
        <identifiers>
          <isin value="US05526DBP96"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185594.06000000</valUSD>
        <pctVal>0.131828960307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust</title>
        <cusip>17290XAY6</cusip>
        <identifiers>
          <isin value="US17290XAY67"/>
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        <balance>3087932.90690000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151022.46000000</valUSD>
        <pctVal>0.107272473509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.84300000</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>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital</title>
        <cusip>161175CD4</cusip>
        <identifiers>
          <isin value="US161175CD44"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82166.75000000</valUSD>
        <pctVal>0.058363706383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>SAN ANTONIO TX ELEC &amp; GAS REVE</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>City of San Antonio Texas Electric &amp; Gas Systems Revenue Revenue Bonds</title>
        <cusip>79625GDG5</cusip>
        <identifiers>
          <isin value="US79625GDG55"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>389562.95000000</valUSD>
        <pctVal>0.276709710820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90500000</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>PRIMERICA INC</name>
        <lei>254900621R686KJR7022</lei>
        <title>Primerica, Inc.</title>
        <cusip>74164MAB4</cusip>
        <identifiers>
          <isin value="US74164MAB46"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167358.88000000</valUSD>
        <pctVal>0.118876364623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</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>CROWN CASTLE INTL CORP</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
        <cusip>22822VAX9</cusip>
        <identifiers>
          <isin value="US22822VAX91"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180189.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>EVEREST REINSURANCE HLDG</name>
        <lei>N/A</lei>
        <title>Everest Reinsurance Holdings, Inc.</title>
        <cusip>299808AH8</cusip>
        <identifiers>
          <isin value="US299808AH86"/>
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        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212337.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>VIRGIN MEDIA VEND FIN IV</name>
        <lei>635400ZZNJSEA4CAJR23</lei>
        <title>Virgin Media Vendor Financing Notes IV DAC</title>
        <cusip>92770QAA5</cusip>
        <identifiers>
          <isin value="US92770QAA58"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165493.77000000</valUSD>
        <pctVal>0.117551561921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        <name>Nassau 2019 CFO LLC</name>
        <lei>N/A</lei>
        <title>Nassau LLC</title>
        <cusip>63172DAA9</cusip>
        <identifiers>
          <isin value="US63172DAA90"/>
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        <balance>177186.54350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171876.97000000</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>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.98000000</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>Wingstop Funding LLC</name>
        <lei>N/A</lei>
        <title>Wingstop Funding LLC</title>
        <cusip>974153AD0</cusip>
        <identifiers>
          <isin value="US974153AD06"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>445388.50000000</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>2052-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.73400000</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>TENN VALLEY AUTHORITY</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority</title>
        <cusip>880591DZ2</cusip>
        <identifiers>
          <isin value="US880591DZ22"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>907271.25000000</valUSD>
        <pctVal>0.644442099084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>
        <name>QUANTA SERVICES INC</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
        <title>Quanta Services, Inc.</title>
        <cusip>74762EAF9</cusip>
        <identifiers>
          <isin value="US74762EAF97"/>
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        <balance>467000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>384739.70000000</valUSD>
        <pctVal>0.273283717376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>
        <name>CROWN AMER/CAP CORP VI</name>
        <lei>N/A</lei>
        <title>Crown Americas LLC / Crown Americas Capital Corporation VI</title>
        <cusip>228187AB6</cusip>
        <identifiers>
          <isin value="US228187AB66"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>380648.00000000</valUSD>
        <pctVal>0.270377349808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>TWIN PALMS PACIFIC TRUST</name>
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      <invstOrSec>
        <name>MASS MUTUAL LIFE INS CO</name>
        <lei>R6ZXK5P01NP6HXSY1S07</lei>
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        <name>LEVEL 3 FINANCING INC</name>
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      <invstOrSec>
        <name>NIELSEN FINANCE LLC/CO</name>
        <lei>N/A</lei>
        <title>Nielsen Finance LLC / Nielsen Finance Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Dreyfus Treasury Securities Ca</name>
        <lei>549300U78VESCW509025</lei>
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          <isin value="US2619411083"/>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GJB68"/>
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        <fairValLevel>2</fairValLevel>
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        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America, Inc.</title>
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          <isin value="US759351AP49"/>
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        <name>CENTRAL GARDEN &amp; PET CO</name>
        <lei>5493004DVZLD37DJ0H83</lei>
        <title>Central Garden &amp; Pet Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Legacy Mortgage Asset Trust</name>
        <lei>N/A</lei>
        <title>Legacy Mortgage Asset Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <name>UNITED WHOLESALE MTGE LL</name>
        <lei>549300HW662MN1WU8550</lei>
        <title>United Wholesale Mortgage LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CELTIC INTERMEDIATE CORP</name>
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        <title>National Mentor Holdings, Inc.</title>
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        <name>TRINET GROUP INC</name>
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        <title>TriNet Group, Inc.</title>
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        <name>QATAR ENERGY</name>
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        <title>Qatar Energy</title>
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        <invCountry>QA</invCountry>
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        <name>Oxford Finance Funding Trust</name>
        <lei>N/A</lei>
        <title>Oxford Finance Funding</title>
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        <name>Wells Fargo Commercial Mortgag</name>
        <lei>5493002S7XBI8CVRR075</lei>
        <title>Wells Fargo Commercial Mortgage Trust</title>
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        <name>JEFFERIES GRP LLC / CAP</name>
        <lei>N/A</lei>
        <title>Jefferies Group LLC / Jefferies Group Capital Finance, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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        <name>ALLISON TRANSMISSION INC</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DP HOLDCO LP</name>
        <lei>N/A</lei>
        <title>Duff &amp; Phelps</title>
        <cusip>N/A</cusip>
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          <isin value="US24440EAB39"/>
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        <balance>98496.23020000</balance>
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        <curCd>USD</curCd>
        <valUSD>91970.85000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.28000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PORT AUTH OF NEW YORK &amp; NEW JE</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>Port Authority of New York &amp; New Jersey Revenue Bonds</title>
        <cusip>73358XDP4</cusip>
        <identifiers>
          <isin value="US73358XDP42"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217468.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HOST HOTELS &amp; RESORTS LP</name>
        <lei>FXB7X4WXVA8QPMNOGS12</lei>
        <title>Host Hotels &amp; Resorts, LP</title>
        <cusip>44107TAZ9</cusip>
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          <isin value="US44107TAZ93"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371595.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cerberus</name>
        <lei>N/A</lei>
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          <isin value="US15674JAA97"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>989239.10000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.89400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EQUITABLE HOLDINGS INC</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings, Inc.</title>
        <cusip>29452E408</cusip>
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          <isin value="US29452E4089"/>
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        <balance>12000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>214920.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROYALTY PHARMA PLC</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>Royalty Pharma plc</title>
        <cusip>78081BAK9</cusip>
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          <isin value="US78081BAK98"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129071.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROWN &amp; BROWN INC</name>
        <lei>549300PC8KTJ71XKFY89</lei>
        <title>Brown &amp; Brown, Inc.</title>
        <cusip>115236AC5</cusip>
        <identifiers>
          <isin value="US115236AC57"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71245.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</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>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale S.A.</title>
        <cusip>83368RBD3</cusip>
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          <isin value="US83368RBD35"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199626.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.88900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YAMANA GOLD INC</name>
        <lei>54930002VY22NXG01418</lei>
        <title>Yamana Gold, Inc.</title>
        <cusip>98462YAF7</cusip>
        <identifiers>
          <isin value="US98462YAF79"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120324.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LIBERTY MUTUAL GROUP INC</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group, Inc.</title>
        <cusip>53079EBL7</cusip>
        <identifiers>
          <isin value="US53079EBL74"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>473386.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARRIOTT INTERNATIONAL</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
        <cusip>571903BH5</cusip>
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          <isin value="US571903BH57"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78637.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NIELSEN HOLDINGS PLC</name>
        <lei>UJ76Y189LDMPCOCW7204</lei>
        <title>Nielsen Finance LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX162460 1"/>
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        <balance>210945.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209462.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-04</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MIDWEST CONNECTOR CAPIT</name>
        <lei>N/A</lei>
        <title>Midwest Connector Capital Company LLC</title>
        <cusip>59833CAC6</cusip>
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          <isin value="US59833CAC64"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103738.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>BP CAPITAL MARKETS PLC</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP Capital Markets plc</title>
        <cusip>05565QDV7</cusip>
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          <isin value="US05565QDV77"/>
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        <balance>880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>766168.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>STRIP PRINC</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912803EH2</cusip>
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          <isin value="US912803EH28"/>
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        <balance>2145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>995393.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>VALERO ENERGY CORP</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>Valero Energy Corp.</title>
        <cusip>91913YBB5</cusip>
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          <isin value="US91913YBB56"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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      <invstOrSec>
        <name>Falcon Aerospace Ltd</name>
        <lei>N/A</lei>
        <title>Falcon Aerospace Ltd.</title>
        <cusip>30605YAB7</cusip>
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          <isin value="US30605YAB74"/>
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        <balance>143925.02710000</balance>
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        <curCd>USD</curCd>
        <valUSD>133538.14000000</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>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.58100000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>060505GB4</cusip>
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          <isin value="US060505GB47"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82977.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>STRIP PRINC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PERATON HOLDING CORP</name>
        <lei>N/A</lei>
        <title>Peraton Corp.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Washington Mutual Mortgage Pas</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MAPLE GROVE FUNDING TR I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TD SYNNEX CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fortress Credit Opportunities</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MB2 DENTAL SOLUTIONS LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Conyers Park III Acquisition Corp.</name>
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        <name>Copper River CLO Ltd</name>
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        <name>PERSHING SQUARE HOLDINGS</name>
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        <title>Pershing Square Holdings Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>STEWART INFORMATION SERV</name>
        <lei>529900TV1XI0PLKENU10</lei>
        <title>Stewart Information Services Corp.</title>
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        <name>METLIFE INC</name>
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        <name>CSC HOLDINGS LLC</name>
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        <name>Morgan Stanley Capital Services LLC</name>
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      <invstOrSec>
        <name>RELIANCE STAND LIFE II</name>
        <lei>N/A</lei>
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        <name>PACIFIC BELLS LLC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-10</maturityDt>
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        <name>Golub Capital Partners CLO Ltd</name>
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        <title>Golub Capital Partners CLO 33M Ltd.</title>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>727781.10000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-25</maturityDt>
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        <name>KRAFT HEINZ FOODS CO</name>
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        <title>Kraft Heinz Foods Co.</title>
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        <balance>50000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Colicity, Inc.</name>
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        <name>NETAPP INC</name>
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        <title>NetApp, Inc.</title>
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        <name>HIGGINBOTHAM INSURANCE AGENCY INC</name>
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        <title>Higginbotham Insurance Agency, Inc.</title>
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        <name>HILTON DOMESTIC OPERATIN</name>
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        <title>Hilton Domestic Operating Company, Inc.</title>
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        <name>TRANSUNION</name>
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        <title>Trans Union LLC</title>
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        <name>US TREASURY N/B</name>
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        <title>U.S. Treasury Bonds</title>
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        <name>LEVEL 3 FINANCING INC</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing, Inc.</title>
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      <invstOrSec>
        <name>AfterNext HealthTech Acquisition Corp.</name>
        <lei>N/A</lei>
        <title>AfterNext HealthTech Acquisition Corp.</title>
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            <putOrCall>Call</putOrCall>
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        <name>MCGRAW-HILL EDUCATION</name>
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        <name>AES CORP/THE</name>
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        <name>KREF 2021-FL2 Ltd</name>
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        <name>Morgan Stanley ReRemic Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS CAPITAL INC.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <assetCat>EP</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARES FINANCE CO II LLC</name>
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          <isin value="US04015KAB61"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
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      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
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          <isin value="US92857WBW91"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>186970.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2081-06-04</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPECTRUM BRANDS INC</name>
        <lei>549300VU3EH2E73C1Q04</lei>
        <title>Spectrum Brands, Inc.</title>
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          <isin value="US84762LAU98"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIRST REPUBLIC BANK</name>
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        <title>First Republic Bank</title>
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          <isin value="US33616C6966"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JP Morgan Mortgage Acquisition</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Acquisition Trust</title>
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          <isin value="US46630BAD82"/>
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        <balance>1263081.24340000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEIDOS INC</name>
        <lei>5493006I78VIN6J1BQ95</lei>
        <title>Leidos, Inc.</title>
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          <isin value="US52532XAH89"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199162.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golub Capital Partners CLO Ltd</name>
        <lei>N/A</lei>
        <title>Golub Capital Partners CLO 16 Ltd.</title>
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          <isin value="US38178EAA38"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-25</maturityDt>
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      <invstOrSec>
        <name>Wave USA</name>
        <lei>N/A</lei>
        <title>WAVE LLC</title>
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        <balance>421957.62750000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vacasa Inc</name>
        <lei>N/A</lei>
        <title>Vacasa, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HOLOGIC INC</name>
        <lei>549300DYP6F5ZJL0LB74</lei>
        <title>Hologic, Inc.</title>
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          <isin value="US436440AP62"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>254900I0IPNA482LDS44</lei>
        <title>Dryden 37 Senior Loan Fund</title>
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          <isin value="US26249YAG61"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Dreyfus Treasury Obligations C</name>
        <lei>549300MKKM9KT7BF6329</lei>
        <title>Dreyfus Treasury Obligations Cash Management Fund - Institutional Shares</title>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>MEDLINE BORROWER LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower, LP</title>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARRIOTT INTERNATIONAL</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
        <cusip>571903BE2</cusip>
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        <balance>340000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Servpro Master Issuer, LLC</name>
        <lei>N/A</lei>
        <title>SERVPRO Master Issuer LLC</title>
        <cusip>817743AE7</cusip>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>423837.81000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SP PF PARENT CORP</name>
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        <curCd>USD</curCd>
        <valUSD>124814.88000000</valUSD>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-22</maturityDt>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD</name>
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        <title>Arch Capital Group Ltd.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-30</maturityDt>
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          <annualizedRt>3.63500000</annualizedRt>
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      <invstOrSec>
        <name>MINERALS TECHNOLOGIES IN</name>
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        <title>Minerals Technologies, Inc.</title>
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          <isin value="US603158AA41"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>NORFOLK SOUTHERN CORP</name>
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        <title>Norfolk Southern Corp.</title>
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          <isin value="US655844CJ57"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37599.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2121-05-15</maturityDt>
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          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>CP ATLAS BUYER INC</name>
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        <curCd>USD</curCd>
        <valUSD>225362.91000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.42000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae</title>
        <cusip>3140HTYC7</cusip>
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          <isin value="US3140HTYC76"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>285630.67000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.83000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KKR Acquisition Holdings I Corp.</name>
        <lei>N/A</lei>
        <title>KKR Acquisition Holdings I Corp.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>MARRIOTT INTERNATIONAL</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
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          <isin value="US571903BF91"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRIME SECSRVC BRW/FINANC</name>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-31</maturityDt>
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      <invstOrSec>
        <name>CITADEL SECURITIES LP</name>
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        <title>Citadel Securities, LP</title>
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        <balance>445500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-02</maturityDt>
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        <name>WEIR GROUP PLC (THE)</name>
        <lei>549300KDR56WHY9I3D10</lei>
        <title>Weir Group plc</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
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        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SERVICE LOGIC ACQUISITION INC</name>
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        <title>Service Logic Acquisition, Inc.</title>
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        <balance>-5074.62700000</balance>
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        <fairValLevel>3</fairValLevel>
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        <name>Extended Stay America Trust</name>
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        <curCd>USD</curCd>
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        <name>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sapphire Aviation Finance I Li</name>
        <lei>N/A</lei>
        <title>Sapphire Aviation Finance II Ltd.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STAR INTERMEDIATE III INC</name>
        <lei>RI37BMPWE56BCJ747E14</lei>
        <title>Dun &amp; Bradstreet</title>
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        <balance>98252.50810000</balance>
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        <curCd>USD</curCd>
        <valUSD>92510.63000000</valUSD>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GO DADDY OPCO/FINCO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Figs Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HYATT HOTELS CORP</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>191304.90000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FERTITTA ENTERTAINMENT</name>
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          <isin value="US31556TAA79"/>
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        <curCd>USD</curCd>
        <valUSD>85250.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>STANDARD CHARTERED PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Applebees/IHOP Funding LLC</name>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-05</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LSTAR Securities Investment Lt</name>
        <lei>N/A</lei>
        <title>LSTAR Securities Investment Ltd.</title>
        <cusip>54912MAA3</cusip>
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          <isin value="US54912MAA36"/>
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        <balance>243471.33590000</balance>
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        <curCd>USD</curCd>
        <valUSD>237339.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
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          <annualizedRt>2.86200000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>HERA Commercial Mortgage Ltd</name>
        <lei>N/A</lei>
        <title>HERA Commercial Mortgage Ltd.</title>
        <cusip>42704RAE1</cusip>
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          <isin value="US42704RAE18"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>471355.35000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.21200000</annualizedRt>
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      <invstOrSec>
        <name>BRITISH TELECOMMUNICATIO</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>British Telecommunications plc</title>
        <cusip>11102AAG6</cusip>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2081-11-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>MSD Acquisition Corp.</name>
        <lei>N/A</lei>
        <title>MSD Acquisition Corp.</title>
        <cusip>N/A</cusip>
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        <balance>974.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>293.08000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>HYATT HOTELS CORP</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp.</title>
        <cusip>448579AH5</cusip>
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          <isin value="US448579AH52"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222831.93000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NATIONAL AUSTRALIA BANK</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>BNP Paribas</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>QUIRCH FOODS HOLDINGS LLC</name>
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      <invstOrSec>
        <name>MAGALLANES INC</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Magallanes, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>357496.99000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SBA COMMUNICATIONS CORP</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA Communications Corp.</title>
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          <isin value="US78410GAD60"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Golub Capital Partners CLO Ltd</name>
        <lei>N/A</lei>
        <title>Golub Capital Partners CLO 36M Ltd.</title>
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          <isin value="US38175BAA26"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-05</maturityDt>
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      <invstOrSec>
        <name>AVANTOR INC</name>
        <lei>N/A</lei>
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          <isin value="US05350NAL82"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTERCONTINENTALEXCHANGE</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange, Inc.</title>
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          <isin value="US45866FAP99"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LSTAR Securities Investment Lt</name>
        <lei>N/A</lei>
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          <isin value="US54912PAA66"/>
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        <balance>200200.95630000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-02</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SABINE PASS LIQUEFACTION</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
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          <isin value="US785592AX43"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>383327.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRAVO Residential Funding Trus</name>
        <lei>N/A</lei>
        <title>BRAVO Residential Funding Trust</title>
        <cusip>10568PAA5</cusip>
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          <isin value="US10568PAA57"/>
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        <balance>492140.36680000</balance>
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        <curCd>USD</curCd>
        <valUSD>444903.36000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-01-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International N.V.</title>
        <cusip>29278GAQ1</cusip>
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          <isin value="US29278GAQ10"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>134667.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>TENET HEALTHCARE CORP</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
        <cusip>88033GDG2</cusip>
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          <isin value="US88033GDG29"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65308.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CUSHMAN &amp; WAKEFIELD US</name>
        <lei>N/A</lei>
        <title>Cushman &amp; Wakefield US Borrower LLC</title>
        <cusip>23166MAA1</cusip>
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          <isin value="US23166MAA18"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32506.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DAVITA INC</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
        <cusip>23918KAS7</cusip>
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          <isin value="US23918KAS78"/>
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        <balance>113000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>88124.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIDELITY NATL FINANCIAL</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>Fidelity National Financial, Inc.</title>
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          <isin value="US31620RAJ41"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262477.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>RXR Acquisition Corp</name>
        <lei>N/A</lei>
        <title>RXR Acquisition Corp.</title>
        <cusip>74981W107</cusip>
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          <isin value="US74981W1071"/>
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        <balance>7752.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75892.18000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ITT HOLDINGS LLC</name>
        <lei>549300TH2PHOLK31LB42</lei>
        <title>ITT Holdings LLC</title>
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          <isin value="US45074JAA25"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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        <name>Ginkgo Bioworks Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Ginkgo Bioworks Holdings, Inc.</title>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TRITON CONTAINER</name>
        <lei>549300O4LZFLCX53XZ54</lei>
        <title>Triton Container International Ltd.</title>
        <cusip>89680YAC9</cusip>
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          <isin value="US89680YAC93"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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      <invstOrSec>
        <name>CF Hippolyta Issuer LLC</name>
        <lei>N/A</lei>
        <title>CF Hippolyta Issuer LLC</title>
        <cusip>12530MAC9</cusip>
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          <isin value="US12530MAC91"/>
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        <balance>230125.87460000</balance>
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        <curCd>USD</curCd>
        <valUSD>206428.52000000</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>2060-07-15</maturityDt>
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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>WMG ACQUISITION CORP</name>
        <lei>549300NAS11NXI33CP80</lei>
        <title>WMG Acquisition Corp.</title>
        <cusip>92933BAR5</cusip>
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          <isin value="US92933BAR50"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58174.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTERN &amp; SOUTHERN LIFE</name>
        <lei>IN763J7JWIZ46OJ1T526</lei>
        <title>Western &amp; Southern Life Insurance Co.</title>
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          <isin value="US95765PAE97"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76116.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-04-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Woodmont Trust</name>
        <lei>N/A</lei>
        <title>Woodmont Trust</title>
        <cusip>97988WAA9</cusip>
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          <isin value="US97988WAA99"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>992686.50000000</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>2032-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.94400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOXER PARENT CO INC</name>
        <lei>5493006T045HLTF7YX04</lei>
        <title>Boxer Parent Company, Inc.</title>
        <cusip>103186AB8</cusip>
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          <isin value="US103186AB88"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95756.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Imperial Fund LLC</name>
        <lei>N/A</lei>
        <title>Imperial Fund Mortgage Trust</title>
        <cusip>45276PAC0</cusip>
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          <isin value="US45276PAC05"/>
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        <balance>193662.62320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183206.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FLOWSERVE CORPORATION</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>Flowserve Corp.</title>
        <cusip>34354PAF2</cusip>
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          <isin value="US34354PAF27"/>
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        <balance>270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231882.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967MV0</cusip>
        <identifiers>
          <isin value="US172967MV07"/>
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        <balance>600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>498000.00000000</valUSD>
        <pctVal>0.353733423542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONEAMERICA FINL PARTNERS</name>
        <lei>5493009S1SVD6UNUDB08</lei>
        <title>OneAmerica Financial Partners, Inc.</title>
        <cusip>682441AB6</cusip>
        <identifiers>
          <isin value="US682441AB66"/>
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        <balance>410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>332137.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank N.V.</title>
        <cusip>00084DAW0</cusip>
        <identifiers>
          <isin value="US00084DAW02"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255694.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.47000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW TROJAN PARENT INC</name>
        <lei>N/A</lei>
        <title>New Trojan Parent, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US64900YAB83"/>
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        <balance>99000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88027.83000000</valUSD>
        <pctVal>0.062526878861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75000000</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>JEFFERIES FIN LLC / JFIN</name>
        <lei>N/A</lei>
        <title>Jefferies Finance LLC / JFIN Company-Issuer Corp.</title>
        <cusip>47232MAF9</cusip>
        <identifiers>
          <isin value="US47232MAF95"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205625.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Acropolis Infrastructure Acquisition Corp.</name>
        <lei>N/A</lei>
        <title>Acropolis Infrastructure Acquisition Corp.</title>
        <cusip>005029111</cusip>
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          <isin value="US0050291113"/>
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        <balance>900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>Preston Ridge Partners Mortgag</name>
        <lei>N/A</lei>
        <title>PRPM LLC</title>
        <cusip>69358DAA2</cusip>
        <identifiers>
          <isin value="US69358DAA28"/>
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        <balance>436335.40880000</balance>
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        <curCd>USD</curCd>
        <valUSD>408332.84000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.79300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Legacy Mortgage Asset Trust</name>
        <lei>N/A</lei>
        <title>Legacy Mortgage Asset Trust</title>
        <cusip>52475XAA2</cusip>
        <identifiers>
          <isin value="US52475XAA28"/>
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        <balance>443501.44600000</balance>
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        <curCd>USD</curCd>
        <valUSD>413210.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED AIRLINES HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Mileage Plus Holdings LLC</title>
        <cusip>N/A</cusip>
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          <isin value="US59921PAB22"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246500.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.31000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRANSDIGM GROUP INC</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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          <other otherDesc="LoanX ID" value="LX185459 1"/>
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        <balance>127386.93720000</balance>
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        <curCd>USD</curCd>
        <valUSD>120522.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-09</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOFA SECURITIES, INC.</name>
        <lei>549300HN4UKV1E2R3U73</lei>
        <title>BofA Securities, Inc.</title>
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          <other otherDesc="Internal ID" value="BGH7Y30Q0"/>
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        <balance>-3110134.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-3110134.77000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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            <repurchaseCollateral>
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          </repurchaseCollaterals>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABPCI Direct Lending Fund CLO</name>
        <lei>N/A</lei>
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          <isin value="US000823AJ38"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985590.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-20</maturityDt>
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      <invstOrSec>
        <name>ABPCI Direct Lending Fund CLO</name>
        <lei>N/A</lei>
        <title>ABPCI Direct Lending Fund CLO I LLC</title>
        <cusip>00086AAQ7</cusip>
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          <isin value="US00086AAQ76"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492035.10000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.76300000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CET4</cusip>
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          <isin value="US91282CET45"/>
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        <balance>1710000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1677670.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Home Mortgage Investm</name>
        <lei>N/A</lei>
        <title>American Home Mortgage Investment Trust</title>
        <cusip>026932AF0</cusip>
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          <isin value="US026932AF01"/>
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        <balance>1827335.71350000</balance>
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        <curCd>USD</curCd>
        <valUSD>274008.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.07800000</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>JBS USA/FOOD/FINANCE</name>
        <lei>N/A</lei>
        <title>JBS USA LUX S.A. / JBS USA Food Company / JBS USA Finance, Inc.</title>
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        <identifiers>
          <isin value="US46590XAE67"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70722.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Colicity Inc</name>
        <lei>N/A</lei>
        <title>Colicity, Inc.</title>
        <cusip>194170106</cusip>
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          <isin value="US1941701062"/>
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        <balance>2716.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26643.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services LLC</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
        <title>Figs, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BGH7EWC51"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Morgan Stanley Capital Services LLC</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Figs Inc.</indexName>
                <indexIdentifier>N/A</indexIdentifier>
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            <exercisePrice>55.00000000</exercisePrice>
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            <delta>XXXX</delta>
            <unrealizedAppr>1046.96000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage</title>
        <cusip>74460W537</cusip>
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          <isin value="US74460W5379"/>
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        <balance>2323.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45205.58000000</valUSD>
        <pctVal>0.032109888708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Taco Bell Funding, LLC</name>
        <lei>N/A</lei>
        <title>Taco Bell Funding LLC</title>
        <cusip>87342RAC8</cusip>
        <identifiers>
          <isin value="US87342RAC88"/>
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        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94384.50000000</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>2046-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.97000000</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>Acropolis Infrastructure Acqui</name>
        <lei>N/A</lei>
        <title>Acropolis Infrastructure Acquisition Corp.</title>
        <cusip>005029103</cusip>
        <identifiers>
          <isin value="US0050291030"/>
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        <balance>2700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26109.00000000</valUSD>
        <pctVal>0.018545433645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CCO HLDGS LLC/CAP CORP</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC / CCO Holdings Capital Corp.</title>
        <cusip>1248EPCK7</cusip>
        <identifiers>
          <isin value="US1248EPCK74"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40750.00000000</valUSD>
        <pctVal>0.028945054235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST REPUBLIC BANK</name>
        <lei>YWC0TIKBQM2JV8L4IV08</lei>
        <title>First Republic Bank</title>
        <cusip>33616C746</cusip>
        <identifiers>
          <isin value="US33616C7469"/>
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        <balance>24000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>426240.00000000</valUSD>
        <pctVal>0.302761715764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEVEL 3 FINANCING INC</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>Level 3 Financing, Inc.</title>
        <cusip>527298BS1</cusip>
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          <isin value="US527298BS18"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>254447.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>ABPCI II DIRECT LENDING FUNDING IV LP</name>
        <lei>N/A</lei>
        <title>ABPCI Direct Lending Fund CLO IV LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="BGH7E2UU2"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>250238.18000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.22500000</annualizedRt>
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      <invstOrSec>
        <name>CHARTER NEXT GENERATION INC</name>
        <lei>N/A</lei>
        <title>Charter Next Generation, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="US16125TAJ16"/>
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        <balance>395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>370972.15000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.42000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RELIANCE STEEL &amp; ALUM</name>
        <lei>549300E287ZOFT3C5Z56</lei>
        <title>Reliance Steel &amp; Aluminum Co.</title>
        <cusip>759509AG7</cusip>
        <identifiers>
          <isin value="US759509AG74"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81022.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIVERSAL HEALTH SVCS</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>Universal Health Services, Inc.</title>
        <cusip>913903AV2</cusip>
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          <isin value="US913903AV21"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119961.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>TRUSTAGE FINANCIAL GROUP</name>
        <lei>549300X7YNHNZXTI6F10</lei>
        <title>Trustage Financial Group, Inc.</title>
        <cusip>89787EAA9</cusip>
        <identifiers>
          <isin value="US89787EAA91"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>183237.77000000</valUSD>
        <pctVal>0.130155268482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTRIA GROUP INC</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SBJ1</cusip>
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          <isin value="US02209SBJ15"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144204.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sprite Limited</name>
        <lei>N/A</lei>
        <title>Sprite Ltd.</title>
        <cusip>85208UAA2</cusip>
        <identifiers>
          <isin value="US85208UAA25"/>
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        <balance>236742.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>214132.95000000</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>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae</title>
        <cusip>3140HTYD5</cusip>
        <identifiers>
          <isin value="US3140HTYD59"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>666471.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.83000000</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>BRITISH AIR 21-1 A PPT</name>
        <lei>N/A</lei>
        <title>British Airways Class A Pass Through Trust</title>
        <cusip>11042CAA8</cusip>
        <identifiers>
          <isin value="US11042CAA80"/>
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        <balance>99720.82860000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87809.90000000</valUSD>
        <pctVal>0.062372081421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc.</title>
        <cusip>38144GAE1</cusip>
        <identifiers>
          <isin value="US38144GAE17"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>116997.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CDW LLC/CDW FINANCE</name>
        <lei>N/A</lei>
        <title>CDW LLC / CDW Finance Corp.</title>
        <cusip>12513GBJ7</cusip>
        <identifiers>
          <isin value="US12513GBJ76"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>206541.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.56900000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PETSMART INC/PETSMART FI</name>
        <lei>N/A</lei>
        <title>PetSmart, Inc. / PetSmart Finance Corp.</title>
        <cusip>71677KAA6</cusip>
        <identifiers>
          <isin value="US71677KAA60"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216310.00000000</valUSD>
        <pctVal>0.153646740655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>
        <name>MSD Acquisition Corp</name>
        <lei>N/A</lei>
        <title>MSD Acquisition Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG5709C1096"/>
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        <balance>4876.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47784.80000000</valUSD>
        <pctVal>0.033941929512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FS KKR CAPITAL CORP</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp.</title>
        <cusip>302635AL1</cusip>
        <identifiers>
          <isin value="US302635AL16"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170182.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>FIDELITY NATL FINANCIAL</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>Fidelity National Financial, Inc.</title>
        <cusip>31620RAK1</cusip>
        <identifiers>
          <isin value="US31620RAK14"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183045.09000000</valUSD>
        <pctVal>0.130018406321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</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>
        <name>Anchorage Credit Funding Ltd.</name>
        <lei>5493003NNQWXMTSTMF21</lei>
        <title>Anchorage Credit Funding 3 Ltd.</title>
        <cusip>03330EAJ3</cusip>
        <identifiers>
          <isin value="US03330EAJ38"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443298.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87100000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TVA PRIN STRIP</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority Principal Strips</title>
        <cusip>88059EN59</cusip>
        <identifiers>
          <isin value="US88059EN592"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165939.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-15</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>GRAFTECH INTERNATIONAL LTD.</name>
        <lei>N/A</lei>
        <title>GrafTech Finance, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US38431EAB48"/>
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        <balance>65692.99850000</balance>
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        <curCd>USD</curCd>
        <valUSD>63517.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.67000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PARTNERRE FINANCE B LLC</name>
        <lei>549300O0FAGHK2F79881</lei>
        <title>PartnerRe Finance B LLC</title>
        <cusip>70213BAC5</cusip>
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          <isin value="US70213BAC54"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>91526.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WILTON RE LTD</name>
        <lei>5493004VQ9VSL29MT373</lei>
        <title>Wilton RE Ltd.</title>
        <cusip>97263CAA9</cusip>
        <identifiers>
          <isin value="US97263CAA99"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>603127.00000000</valUSD>
        <pctVal>0.428405981005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000000</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>MACQUARIE GROUP LTD</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd.</title>
        <cusip>55607PAG0</cusip>
        <identifiers>
          <isin value="US55607PAG00"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160882.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.69100000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EQUITABLE HOLDINGS INC</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings, Inc.</title>
        <cusip>29452EAA9</cusip>
        <identifiers>
          <isin value="US29452EAA91"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>516842.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAFEHOLD OPERATING PARTN</name>
        <lei>54930012UY5Z4Q8NL108</lei>
        <title>Safehold Operating Partnership, LP</title>
        <cusip>78646UAA7</cusip>
        <identifiers>
          <isin value="US78646UAA79"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146392.34000000</valUSD>
        <pctVal>0.103983661864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</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>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
        <cusip>744320BH4</cusip>
        <identifiers>
          <isin value="US744320BH48"/>
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        <balance>130000.00000000</balance>
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      <invstOrSec>
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        <name>BOEING CO</name>
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      <invstOrSec>
        <name>SOLRR Aircraft 2021-1 Limited</name>
        <lei>N/A</lei>
        <title>Lunar Structured Aircraft Portfolio Notes</title>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-15</maturityDt>
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      <invstOrSec>
        <name>MACQUARIE BANK LTD</name>
        <lei>4ZHCHI4KYZG2WVRT8631</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-03</maturityDt>
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      <invstOrSec>
        <name>GLOBAL ATLANTIC</name>
        <lei>N/A</lei>
        <title>Global Atlantic Finance Co.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>US FOODS INC</name>
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        <title>US Foods, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VIRGIN MEDIA SECURED FIN</name>
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        <title>Virgin Media Secured Finance plc</title>
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        <curCd>USD</curCd>
        <valUSD>246513.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERKLEY (WR) CORPORATION</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp.</title>
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          <isin value="US0844238883"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>WEYERHAEUSER CO</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
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          <isin value="US962166BY91"/>
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        <balance>34000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32003.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SELECTIVE INSURANCE GROU</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>Selective Insurance Group, Inc.</title>
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          <isin value="US8163005031"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SMITHFIELD FOODS INC</name>
        <lei>CVTIPZRZJC0JQEZLL598</lei>
        <title>Smithfield Foods, Inc.</title>
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          <isin value="US832248BC11"/>
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        <balance>110000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MSCI INC</name>
        <lei>549300HTIN2PD78UB763</lei>
        <title>MSCI, Inc.</title>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12825.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae-Aces</title>
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        <balance>2960588.84200000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>FIRST REPUBLIC BANK</name>
        <lei>YWC0TIKBQM2JV8L4IV08</lei>
        <title>First Republic Bank</title>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NEWCREST FINANCE PTY LTD</name>
        <lei>549300I0XDZ4K7PDSS04</lei>
        <title>Newcrest Finance Pty Ltd.</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>1011778 BC / NEW RED FIN</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED AIRLINES INC</name>
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        <title>United Airlines, Inc.</title>
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        <name>GALAXY PIPELINE ASSETS</name>
        <lei>549300L82YB0C6JQIC26</lei>
        <title>Galaxy Pipeline Assets Bidco Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UCFC Manufactured Housing Cont</name>
        <lei>N/A</lei>
        <title>UCFC Manufactured Housing Contract</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>ARCH CAPITAL GROUP LTD</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd.</title>
        <cusip>03939A404</cusip>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>DATIX BIDCO LIMITED</name>
        <lei>N/A</lei>
        <title>Datix Bidco Ltd.</title>
        <cusip>N/A</cusip>
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        <assetCat>LON</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
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          <other otherDesc="Internal ID" value="BGH7XXG70"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>UBS AG</counterpartyName>
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            <putOrCall>Put</putOrCall>
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                    <name>UBS AG</name>
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                      <other otherDesc="Internal ID" value="BGH7XXG70-U"/>
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                    <descOthUnits>Notional Amount</descOthUnits>
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      <invstOrSec>
        <name>BXMT Ltd</name>
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          <isin value="US12434LAC81"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STRIP PRINC</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912803GE7</cusip>
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          <isin value="US912803GE78"/>
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        <curCd>USD</curCd>
        <valUSD>1275096.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>WAVERLY CAPITAL ACQUISITION CORP 1</name>
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        <title>Waverley Capital Acquisition Corp. 1</title>
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          <isin value="KYG065361092"/>
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        <curCd>USD</curCd>
        <valUSD>29010.00000000</valUSD>
        <pctVal>0.020606037383</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital</title>
        <cusip>161175BU7</cusip>
        <identifiers>
          <isin value="US161175BU77"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500536.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613AE8</cusip>
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          <isin value="US902613AE83"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>238194.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.09500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PARAMOUNT GLOBAL</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global</title>
        <cusip>92556HAB3</cusip>
        <identifiers>
          <isin value="US92556HAB33"/>
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        <balance>617000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>587390.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ALCOA NEDERLAND HOLDING</name>
        <lei>5493000UL1QLQLT1VQ42</lei>
        <title>Alcoa Nederland Holding BV</title>
        <cusip>013822AE1</cusip>
        <identifiers>
          <isin value="US013822AE11"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Octagon Investment Partners 49</name>
        <lei>N/A</lei>
        <title>Octagon Investment Partners 49 Ltd.</title>
        <cusip>67578FAC1</cusip>
        <identifiers>
          <isin value="US67578FAC14"/>
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        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1647504.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.59400000</annualizedRt>
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      <invstOrSec>
        <name>ORACLE CORP</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XCA1</cusip>
        <identifiers>
          <isin value="US68389XCA19"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>183624.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LUMMUS TECHNOLOGY HOLDINGS V LLC</name>
        <lei>N/A</lei>
        <title>Illuminate Buyer LLC</title>
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        <valUSD>216024.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>KRONOS ACQ  / KIK CUSTOM</name>
        <lei>N/A</lei>
        <title>Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>42750.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ladder Capital Commercial Mort</name>
        <lei>N/A</lei>
        <title>LCCM Trust</title>
        <cusip>50190FAA9</cusip>
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          <isin value="US50190FAA93"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>582487.98000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MIDWEST VETERINARY PARTNERS LLC</name>
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        <title>Mission Veterinary Partners</title>
        <cusip>N/A</cusip>
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        <balance>148875.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140686.88000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-27</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
        <cusip>37940XAD4</cusip>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177194.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae</title>
        <cusip>3140LEN60</cusip>
        <identifiers>
          <isin value="US3140LEN602"/>
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        <fairValLevel>2</fairValLevel>
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        <name>BROADCOM INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOWD POINT REVOLVING TRUST TPRT_22-A</name>
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      <invstOrSec>
        <name>BOEING CO</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-04</maturityDt>
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      <invstOrSec>
        <name>GPMT Ltd.</name>
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          <isin value="US36259BAE74"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FAIRFAX FINL HLDGS LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MB2 DENTAL SOLUTIONS LLC</name>
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        <title>MB2 Dental Solutions LLC</title>
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        <assetCat>LON</assetCat>
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        <fairValLevel>3</fairValLevel>
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        <name>RAYMOND JAMES FINANCIAL</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MAGALLANES INC</name>
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        <name>Conyers Park III Acquisition C</name>
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        <name>CABLE ONE INC</name>
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        <title>Cable One, Inc.</title>
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        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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        <name>BERRY GLOBAL INC</name>
        <lei>549300AP2Q7ERHX6RI89</lei>
        <title>Berry Global, Inc.</title>
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        <name>ENERGIZER HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Energizer Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Cerberus</name>
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        <invCountry>KY</invCountry>
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        <name>GXO LOGISTICS INC</name>
        <lei>5493007CNWMXN78JRN66</lei>
        <title>GXO Logistics, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
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        <name>PS HOLDINGS INDEPENDENT VOTING COMPANY LTD</name>
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        <name>Freddie Mac Military Housing B</name>
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        <name>US TREASURY N/B</name>
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        <name>APOLLO MANAGEMENT HOLDIN</name>
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        <name>Textainer Marine Containers Li</name>
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        <name>Halcyon Loan Advisors Funding</name>
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        <name>INEOS QUATTRO FINANCE 2</name>
        <lei>213800V48W4Y5MT5Q131</lei>
        <title>INEOS Quattro Finance 2 plc</title>
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        <invCountry>GB</invCountry>
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        <name>DELTA AIR LINES INC</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
        <title>Delta Air Lines, Inc.</title>
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        <name>UNITED WHOLESALE MTGE LL</name>
        <lei>549300HW662MN1WU8550</lei>
        <title>United Wholesale Mortgage LLC</title>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>NEWCREST FINANCE PTY LTD</name>
        <lei>549300I0XDZ4K7PDSS04</lei>
        <title>Newcrest Finance Pty Ltd.</title>
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        <invCountry>AU</invCountry>
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        <name>QORVO INC</name>
        <lei>254900YAUJV2EUEVBR11</lei>
        <title>Qorvo, Inc.</title>
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        <name>LoanCore 2019-CRE2 Issuer, Ltd</name>
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        <title>LoanCore Issuer Ltd.</title>
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        <name>GLOBAL ATLANTIC FIN CO</name>
        <lei>N/A</lei>
        <title>Global Atlantic Finance Co.</title>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <name>BANK OF NY MELLON CORP</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp.</title>
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        <name>Golub Capital Partners CLO Ltd</name>
        <lei>N/A</lei>
        <title>Golub Capital Partners CLO 17 Ltd.</title>
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        <invCountry>KY</invCountry>
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        <name>CENTRAL GARDEN &amp; PET CO</name>
        <lei>5493004DVZLD37DJ0H83</lei>
        <title>Central Garden &amp; Pet Co.</title>
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        <invCountry>US</invCountry>
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        <name>ABG INTERMEDIATE HOLDINGS 2 LLC</name>
        <lei>N/A</lei>
        <title>Authentic Brands</title>
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        <balance>450000.00000000</balance>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-21</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JBS USA/FOOD/FINANCE</name>
        <lei>N/A</lei>
        <title>JBS USA LUX S.A. / JBS USA Food Company / JBS USA Finance, Inc.</title>
        <cusip>46590XAD8</cusip>
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          <isin value="US46590XAD84"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>153592.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAGELLAN MIDSTREAM PARTN</name>
        <lei>MZF5TI8NFVZZNUSKDL39</lei>
        <title>Magellan Midstream Partners, LP</title>
        <cusip>559080AQ9</cusip>
        <identifiers>
          <isin value="US559080AQ99"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>168908.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>THUNDERBIRD 2022-1</name>
        <lei>N/A</lei>
        <title>Thunderbird A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BGH7NVMD5"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80000.00000000</valUSD>
        <pctVal>0.056824646352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>
        <name>BROADCOM INC</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135FBQ3</cusip>
        <identifiers>
          <isin value="US11135FBQ37"/>
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        <balance>26000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19764.56000000</valUSD>
        <pctVal>0.014038926653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.18700000</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>
        <name>RENAISSANCERE HOLDINGS L</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd.</title>
        <cusip>EP0599001</cusip>
        <identifiers>
          <isin value="BMG7498P1279"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142400.00000000</valUSD>
        <pctVal>0.101147870506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DATIX BIDCO LIMITED</name>
        <lei>N/A</lei>
        <title>RLDatix</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BGH7TK9N6 1"/>
        </identifiers>
        <balance>-129573.54000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-521.42000000</valUSD>
        <pctVal>-0.00037036883</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TENN VALLEY AUTHORITY</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority</title>
        <cusip>880591ES7</cusip>
        <identifiers>
          <isin value="US880591ES79"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1004730.00000000</valUSD>
        <pctVal>0.713667836617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>CNO FINANCIAL GROUP INC</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO Financial Group, Inc.</title>
        <cusip>12621EAL7</cusip>
        <identifiers>
          <isin value="US12621EAL74"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48478.25000000</valUSD>
        <pctVal>0.034434492650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>WALGREENS BOOTS ALLIANCE</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>Walgreens Boots Alliance, Inc.</title>
        <cusip>931427AT5</cusip>
        <identifiers>
          <isin value="US931427AT57"/>
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        <balance>198000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156176.63000000</valUSD>
        <pctVal>0.110933522102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</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>FS KKR CAPITAL CORP</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp.</title>
        <cusip>302635AH0</cusip>
        <identifiers>
          <isin value="US302635AH04"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210235.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROADCOM INC</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135FBH3</cusip>
        <identifiers>
          <isin value="US11135FBH38"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241031.54000000</valUSD>
        <pctVal>0.171206650252</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgag</name>
        <lei>549300SGFUCMB43V8P22</lei>
        <title>Wells Fargo Commercial Mortgage Trust</title>
        <cusip>95000CBE2</cusip>
        <identifiers>
          <isin value="US95000CBE21"/>
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        <balance>3715904.35600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143540.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.58900000</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>ASSURANT INC</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>Assurant, Inc.</title>
        <cusip>04621X306</cusip>
        <identifiers>
          <isin value="US04621X3061"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>89000.00000000</valUSD>
        <pctVal>0.063217419066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SBKSCP</name>
        <lei>N/A</lei>
        <title>TPG Pace Beneficial II Corp.</title>
        <cusip>SBKSCP682</cusip>
        <identifiers>
          <ticker value="YTPG"/>
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        <balance>6675.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64947.75000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SIRIUS XM RADIO INC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio, Inc.</title>
        <cusip>82967NBG2</cusip>
        <identifiers>
          <isin value="US82967NBG25"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150334.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SYNDIGO LLC</name>
        <lei>N/A</lei>
        <title>Syndigo LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX191140 1"/>
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        <balance>198000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>186120.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.82000000</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>AMERICAN INTL GROUP</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874DP9</cusip>
        <identifiers>
          <isin value="US026874DP97"/>
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        <balance>388000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344056.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>ABPCI Direct Lending Fund CLO</name>
        <lei>N/A</lei>
        <title>ABPCI Direct Lending Fund CLO V Ltd.</title>
        <cusip>000807AN7</cusip>
        <identifiers>
          <isin value="US000807AN73"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492380.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.56300000</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>SOUTHERN VETERINARY COMPANY LLC</name>
        <lei>N/A</lei>
        <title>Southern Veterinary Partners LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US84410HAC43"/>
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        <balance>148215.22070000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BLOCK INC</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>88723.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>CHCP 2021-FL1 Ltd.</name>
        <lei>N/A</lei>
        <title>CHCP Ltd.</title>
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          <isin value="US12546JAG94"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-02-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BRITISH TELECOMMUNICATIO</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>British Telecommunications plc</title>
        <cusip>111021AE1</cusip>
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          <isin value="US111021AE12"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>124442.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHOICE HOTELS INTL INC</name>
        <lei>5493003CYRY5RFGTIR97</lei>
        <title>Choice Hotels International, Inc.</title>
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          <isin value="US169905AG19"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>319069.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GALAXY PIPELINE ASSETS</name>
        <lei>549300L82YB0C6JQIC26</lei>
        <title>Galaxy Pipeline Assets Bidco Ltd.</title>
        <cusip>36321PAE0</cusip>
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          <isin value="US36321PAE07"/>
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        <balance>343913.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280523.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HIGGINBOTHAM INSURANCE AGENCY INC</name>
        <lei>N/A</lei>
        <title>Higginbotham Insurance Agency, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX202150 1"/>
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        <balance>198134.40270000</balance>
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        <curCd>USD</curCd>
        <valUSD>195958.80000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2026-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.17000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BOFA SECURITIES, INC.</name>
        <lei>549300HN4UKV1E2R3U73</lei>
        <title>BofA Securities, Inc.</title>
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          <other otherDesc="Internal ID" value="BGH7Y1DG2"/>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>Novastar Home Equity Loan</name>
        <lei>N/A</lei>
        <title>NovaStar Mortgage Funding Trust Series</title>
        <cusip>66989EAA3</cusip>
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          <isin value="US66989EAA38"/>
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        <balance>439882.36110000</balance>
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        <curCd>USD</curCd>
        <valUSD>423677.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.82400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NFP CORP</name>
        <lei>VO2L9FZNXDJNQNEYH039</lei>
        <title>NFP Corp.</title>
        <cusip>65342RAD2</cusip>
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          <isin value="US65342RAD26"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>165008.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golub Capital Partners CLO Ltd</name>
        <lei>2549007JA1TZWEDGPD41</lei>
        <title>Golub Capital Partners CLO 54M L.P</title>
        <cusip>381743AE3</cusip>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>468006.55000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.01300000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF NY MELLON CORP</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp.</title>
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          <isin value="US064058AL44"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CHENIERE ENERGY INC</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>Cheniere Corpus Christi Holdings LLC</title>
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          <other otherDesc="Internal ID" value="BGH6SLAJ4"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680946.38000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2039-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.52000000</annualizedRt>
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        <name>CELLNEX FINANCE</name>
        <lei>549300OUROMFTRFA7T23</lei>
        <title>Cellnex Finance Company S.A.</title>
        <cusip>15118JAA3</cusip>
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          <isin value="US15118JAA34"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>308164.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HOWMET AEROSPACE INC</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace, Inc.</title>
        <cusip>022249AU0</cusip>
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          <isin value="US022249AU09"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HIGGINBOTHAM INSURANCE AGENCY INC</name>
        <lei>N/A</lei>
        <title>Higginbotham Insurance Agency, Inc.</title>
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          <other otherDesc="LoanX ID" value="LX202121U 1"/>
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        <valUSD>-887.07000000</valUSD>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2026-11-25</maturityDt>
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        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CP5</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>171726.71000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>ARDAGH PKG FIN/HLDGS USA</name>
        <lei>N/A</lei>
        <title>Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc.</title>
        <cusip>03969AAN0</cusip>
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          <isin value="US03969AAN00"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>211802.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ServiceMaster Brands</name>
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        <name>WESTPAC BANKING CORP</name>
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        <name>GATX CORP</name>
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        <name>NASDAQ INC</name>
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        <name>Morgan Stanley Capital Services LLC</name>
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        <name>TD SYNNEX CORP</name>
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        <name>THUNDERBIRD 2022-1</name>
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        <name>Starwood Commercial Mortgage T</name>
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        <name>Madison Avenue Secured Funding</name>
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        <name>Credit Suisse Mortgage Trust</name>
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        <name>VERTICAL TOPCO SARL</name>
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        <name>ALTRIA GROUP INC</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUNT COS INC</name>
        <lei>549300ODPWDNCH5TKM49</lei>
        <title>Hunt Companies, Inc.</title>
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          <isin value="US445587AE85"/>
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        <curCd>USD</curCd>
        <valUSD>170000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTPAC BANKING CORP</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp.</title>
        <cusip>961214EX7</cusip>
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          <isin value="US961214EX77"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120724.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.02000000</annualizedRt>
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      <invstOrSec>
        <name>WESTCHESTER CNTY NY LOCAL DEV</name>
        <lei>549300KOSU8OC75V9238</lei>
        <title>Westchester County Local Development Corp. Revenue Bonds</title>
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          <isin value="US95737TEK88"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>243505.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KKR Acquisition Holdings I Cor</name>
        <lei>N/A</lei>
        <title>KKR Acquisition Holdings I Corp.</title>
        <cusip>48253T109</cusip>
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          <isin value="US48253T1097"/>
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        <balance>33829.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CFCRE Commercial Mortgage Trus</name>
        <lei>N/A</lei>
        <title>CFCRE Commercial Mortgage Trust</title>
        <cusip>12531WBC5</cusip>
        <identifiers>
          <isin value="US12531WBC55"/>
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        <balance>5480070.60340000</balance>
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        <curCd>USD</curCd>
        <valUSD>158260.05000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.14500000</annualizedRt>
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      <invstOrSec>
        <name>REFRESCO GROUP BV (NL)</name>
        <lei>N/A</lei>
        <title>Sunshine Investments B.V.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAN8405TAB16"/>
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        <balance>97979.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95530.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.19000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AASET 2021-1 Trust</name>
        <lei>N/A</lei>
        <title>AASET Trust</title>
        <cusip>00038PAA8</cusip>
        <identifiers>
          <isin value="US00038PAA84"/>
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        <balance>454668.38950000</balance>
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        <curCd>USD</curCd>
        <valUSD>380381.12000000</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>2041-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MSCI INC</name>
        <lei>549300HTIN2PD78UB763</lei>
        <title>MSCI, Inc.</title>
        <cusip>55354GAK6</cusip>
        <identifiers>
          <isin value="US55354GAK67"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62525.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>STANDARD INDUSTRIES INC</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
        <cusip>853496AH0</cusip>
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          <isin value="US853496AH04"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>92202.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Starwood Mortgage Residential</name>
        <lei>N/A</lei>
        <title>Starwood Mortgage Residential Trust</title>
        <cusip>85573AAB1</cusip>
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          <isin value="US85573AAB17"/>
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        <balance>924889.83860000</balance>
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        <curCd>USD</curCd>
        <valUSD>895892.88000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.40800000</annualizedRt>
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      <invstOrSec>
        <name>GATX CORP</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX Corp.</title>
        <cusip>361448BF9</cusip>
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          <isin value="US361448BF99"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129124.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ABT1</cusip>
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          <isin value="US87264ABT16"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41511.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KKR GROUP FINAN CO VIII</name>
        <lei>N/A</lei>
        <title>KKR Group Finance Company VIII LLC</title>
        <cusip>48252MAA3</cusip>
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          <isin value="US48252MAA36"/>
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        <balance>290000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-25</maturityDt>
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        <name>TRANSURBAN FINANCE CO</name>
        <lei>54930081LPJMUMEA6E57</lei>
        <title>Transurban Finance Company Pty Ltd.</title>
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        <balance>150000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-16</maturityDt>
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      <invstOrSec>
        <name>NIPPON LIFE INSURANCE</name>
        <lei>549300Y0HHMFW3EVWY08</lei>
        <title>Nippon Life Insurance Co.</title>
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          <isin value="US654579AK76"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>AMWINS GROUP INC</name>
        <lei>N/A</lei>
        <title>AmWINS Group, Inc.</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX192658 1"/>
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        <balance>98500.57380000</balance>
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        <curCd>USD</curCd>
        <valUSD>92878.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.92000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LINCOLN NATIONAL CORP</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp.</title>
        <cusip>534187BL2</cusip>
        <identifiers>
          <isin value="US534187BL23"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128576.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HOST HOTELS &amp; RESORTS LP</name>
        <lei>FXB7X4WXVA8QPMNOGS12</lei>
        <title>Host Hotels &amp; Resorts, LP</title>
        <cusip>44107TBA3</cusip>
        <identifiers>
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      <invstOrSec>
        <name>OWENS CORNING</name>
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      <invstOrSec>
        <name>TRITON CONTAINER/TAL INT</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
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          <isin value="US46284VAL53"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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      <invstOrSec>
        <name>GLP CAPITAL LP / FIN II</name>
        <lei>N/A</lei>
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          <isin value="US361841AL38"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>286533.27000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>KIMBERLY-CLARK DE MEXICO</name>
        <lei>549300JGHL56QT00KT54</lei>
        <title>Kimberly-Clark de Mexico SAB de CV</title>
        <cusip>494386AD7</cusip>
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          <isin value="US494386AD79"/>
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        <curCd>USD</curCd>
        <valUSD>166160.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>MACQUARIE BANK LTD</name>
        <lei>4ZHCHI4KYZG2WVRT8631</lei>
        <title>Macquarie Bank Ltd.</title>
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          <isin value="US556079AD36"/>
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        <valUSD>356839.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-03</maturityDt>
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          <annualizedRt>3.05200000</annualizedRt>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U2Q52"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-30</maturityDt>
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      <invstOrSec>
        <name>OCULUS INTERMEDIATE INC</name>
        <lei>N/A</lei>
        <title>CNT Holdings I Corp.</title>
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        <balance>197500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-08</maturityDt>
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          <annualizedRt>4.69000000</annualizedRt>
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      <invstOrSec>
        <name>Pershing Square Tontine Holdings, Ltd.</name>
        <lei>549300ZDVEYEVCF35B08</lei>
        <title>Pershing Square Tontine Holdings, Ltd.</title>
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        <balance>8510.00000000</balance>
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        <name>FIRST AMERICAN FINANCIAL</name>
        <lei>549300B6VEZK3N0A1P55</lei>
        <title>First American Financial Corp.</title>
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        <balance>360000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust</title>
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          <isin value="US05610HAG83"/>
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        <balance>466912.51360000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THL Credit Lake Shore MM CLO I</name>
        <lei>N/A</lei>
        <title>THL Credit Lake Shore MM CLO I Ltd.</title>
        <cusip>510800AC9</cusip>
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          <isin value="US510800AC97"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Life Financial Services Trust</name>
        <lei>N/A</lei>
        <title>Life Mortgage Trust</title>
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        <balance>245742.53730000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.67400000</annualizedRt>
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        <name>ASSURED GUARANTY US HLDG</name>
        <lei>5493007YCE0652G9TZ64</lei>
        <title>Assured Guaranty US Holdings, Inc.</title>
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          <isin value="US04621WAE03"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75114.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-15</maturityDt>
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      <invstOrSec>
        <name>Morgan Stanley Capital Services LLC</name>
        <lei>I7331LVCZKQKX5T7XV54</lei>
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        <name>ANGLO AMERICAN CAPITAL</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
        <title>Anglo American Capital plc</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TEXTRON INC</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron, Inc.</title>
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        <name>Ladder Capital Commercial Mort</name>
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        <name>JOHNS HOPKINS UNIVERSITY</name>
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        <title>Johns Hopkins University</title>
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      <invstOrSec>
        <name>1011778 BC / NEW RED FIN</name>
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          <isin value="US68245XAH26"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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      <invstOrSec>
        <name>RS IVY HOLDCO INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pershing Square Tontine Holdin</name>
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        <title>Pershing Square Tontine Holdings Ltd.</title>
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          <isin value="US71531R1095"/>
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        <fairValLevel>1</fairValLevel>
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        <name>SCOTTS MIRACLE-GRO CO</name>
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        <title>Scotts Miracle-Gro Co.</title>
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          <isin value="US810186AX41"/>
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        <fairValLevel>2</fairValLevel>
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        <name>APTTUS CORP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SERVICE LOGIC ACQUISITION INC</name>
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        <title>Service Logic Acquisition, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First Franklin Mtg Loan Asset</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>OSW Structured Asset Trust</name>
        <lei>N/A</lei>
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        <name>HOME POINT CAPITAL INC</name>
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        <title>Home Point Capital, Inc.</title>
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        <name>BROADCOM INC</name>
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        <title>Broadcom, Inc.</title>
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        <name>AfterNext HealthTech Acquisiti</name>
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        <name>KUVARE US HOLDINGS INC</name>
        <lei>254900MGBERNLZXF7O58</lei>
        <title>Kuvare US Holdings, Inc.</title>
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        <name>FIRST KEY REVOLVING TRUST 2021-1</name>
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        <title>FKRT</title>
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        <balance>750000.00000000</balance>
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      <invstOrSec>
        <name>KKR CORE HOLDING COMPANY LLC</name>
        <lei>N/A</lei>
        <title>KKR Core Holding Company LLC</title>
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      <invstOrSec>
        <name>Argent Securities Inc.</name>
        <lei>N/A</lei>
        <title>Ameriquest Mortgage Securities Trust</title>
        <cusip>03076MAD6</cusip>
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          <isin value="US03076MAD65"/>
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        <balance>2111300.32590000</balance>
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        <curCd>USD</curCd>
        <valUSD>753163.53000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.78400000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLOWSERVE CORPORATION</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>Flowserve Corp.</title>
        <cusip>34355JAB4</cusip>
        <identifiers>
          <isin value="US34355JAB44"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78761.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</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>BIFM CA BUYER INC</name>
        <lei>N/A</lei>
        <title>BGIS (BIFM CA Buyer, Inc.)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XAG0757GAB86"/>
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        <balance>293322.39040000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269123.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.07000000</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>Castlelake Aircraft Securitiza</name>
        <lei>N/A</lei>
        <title>Castlelake Aircraft Structured Trust</title>
        <cusip>14856GAA8</cusip>
        <identifiers>
          <isin value="US14856GAA85"/>
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        <balance>332634.65540000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296026.35000000</valUSD>
        <pctVal>0.210269908121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.47400000</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>Guggenheim Partners Investment Management LLC</name>
        <lei>N/A</lei>
        <title>Guggenheim Total Return Bond Fund - R6-Class</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GIBRX"/>
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        <balance>247040.38500000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6025314.99000000</valUSD>
        <pctVal>4.279829918341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TB4</cusip>
        <identifiers>
          <isin value="US912810TB44"/>
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        <balance>2250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1688203.13000000</valUSD>
        <pctVal>1.199144322911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</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>PENN MUTUAL LIFE INS CO</name>
        <lei>BIYXEJSLUQ3IWFUXX074</lei>
        <title>Penn Mutual Life Insurance Co.</title>
        <cusip>707567AE3</cusip>
        <identifiers>
          <isin value="US707567AE33"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72024.81000000</valUSD>
        <pctVal>0.051159804460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-04-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</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>KEMPER CORP</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>Kemper Corp.</title>
        <cusip>488401AC4</cusip>
        <identifiers>
          <isin value="US488401AC40"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>137490.83000000</valUSD>
        <pctVal>0.097660847392</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VB-S1 Issuer LLC</name>
        <lei>N/A</lei>
        <title>VB-S1 Issuer LLC - VBTEL</title>
        <cusip>91823AAY7</cusip>
        <identifiers>
          <isin value="US91823AAY73"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226634.75000000</valUSD>
        <pctVal>0.160980493998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.28800000</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>BELROSE FUNDING TRUST</name>
        <lei>N/A</lei>
        <title>Belrose Funding Trust</title>
        <cusip>080807AA8</cusip>
        <identifiers>
          <isin value="US080807AA88"/>
        </identifiers>
        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256465.88000000</valUSD>
        <pctVal>0.182169786655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.33000000</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>Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>Home Equity Loan Trust</title>
        <cusip>43710XAA6</cusip>
        <identifiers>
          <isin value="US43710XAA63"/>
        </identifiers>
        <balance>583681.87520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>546474.84000000</valUSD>
        <pctVal>0.388165494042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.81400000</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>PLANVIEW PARENT INC</name>
        <lei>N/A</lei>
        <title>Planview Parent, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="LoanX ID" value="LX191189 1"/>
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        <balance>246875.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232062.50000000</valUSD>
        <pctVal>0.164835868676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.67000000</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>KRAFT HEINZ FOODS CO</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>Kraft Heinz Foods Co.</title>
        <cusip>50077LAZ9</cusip>
        <identifiers>
          <isin value="US50077LAZ94"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66243.83000000</valUSD>
        <pctVal>0.047053527659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>RADIATE HOLDCO / FINANCE</name>
        <lei>N/A</lei>
        <title>Radiate Holdco LLC / Radiate Finance, Inc.</title>
        <cusip>75026JAC4</cusip>
        <identifiers>
          <isin value="US75026JAC45"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>129342.00000000</valUSD>
        <pctVal>0.091872667606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06055H608</cusip>
        <identifiers>
          <isin value="US06055H6080"/>
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        <balance>16000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>297440.00000000</valUSD>
        <pctVal>0.211274035137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELOITTE LLP (US)</name>
        <lei>N/A</lei>
        <title>Deloitte LLP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BGH6LXNS1"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>454399.91000000</valUSD>
        <pctVal>0.322763927352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.56000000</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>GRAPHIC PACKAGING INTERN</name>
        <lei>SO75N4VY5NXGQSK8YQ65</lei>
        <title>Graphic Packaging International LLC</title>
        <cusip>38869AAC1</cusip>
        <identifiers>
          <isin value="US38869AAC18"/>
        </identifiers>
        <balance>11000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9236.66000000</valUSD>
        <pctVal>0.006560874224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAVITA INC</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
        <cusip>23918KAT5</cusip>
        <identifiers>
          <isin value="US23918KAT51"/>
        </identifiers>
        <balance>303000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217247.97000000</valUSD>
        <pctVal>0.154312988324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HAH GROUP HOLDING CO LLC</name>
        <lei>N/A</lei>
        <title>HAH Group Holding Co. LLC</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOEING CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SERVICE CORP INTL</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STORE Master Funding LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STANDARD INDUSTRIES INC</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Securitized Asset Backed Recei</name>
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          <isin value="US81378PAA66"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>USI INC</name>
        <lei>N/A</lei>
        <title>USI, Inc.</title>
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          <isin value="US90351NAF24"/>
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        <balance>147361.62600000</balance>
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        <curCd>USD</curCd>
        <valUSD>135941.10000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2026-12-02</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>MB2 DENTAL SOLUTIONS LLC</name>
        <lei>N/A</lei>
        <title>MB2 Dental Solutions LLC</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>KKR CORE HOLDING COMPANY LLC</name>
        <lei>N/A</lei>
        <title>KKR Core Holding Company LLC</title>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Diamond CLO 2019-1 LLC</name>
        <lei>N/A</lei>
        <title>Diamond CLO Ltd.</title>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>ARAMARK SERVICES INC</name>
        <lei>42YMHYH0XMHJEXDUB065</lei>
        <title>Aramark Services, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cerberus</name>
        <lei>N/A</lei>
        <title>Cerberus Loan Funding XXXVI, LP</title>
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          <isin value="US15674UAA43"/>
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        <balance>336395.17710000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MB2 DENTAL SOLUTIONS LLC</name>
        <lei>N/A</lei>
        <title>MB2 Dental Solutions LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="LoanX ID" value="LX192595 1"/>
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        <balance>327784.84470000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-29</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CNO FINANCIAL GROUP INC</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO Financial Group, Inc.</title>
        <cusip>12621E301</cusip>
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        <balance>6000.00000000</balance>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage</title>
        <cusip>74460W552</cusip>
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        <name>LAMAR MEDIA CORP</name>
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        <name>Treman Park CLO Ltd</name>
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      <invstOrSec>
        <name>Waverley Capital Acquisition Corp.</name>
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        <name>Barclays Bank plc</name>
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        <name>COSTAR GROUP INC</name>
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        <name>ANGLO AMERICAN CAPITAL</name>
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        <name>BERKLEY (WR) CORPORATION</name>
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        <name>Anchorage Credit Funding Ltd.</name>
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        <name>MACQUARIE GROUP LTD</name>
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        <name>Capital Automotive Reit</name>
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        <name>Anchorage Credit Funding Ltd.</name>
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        <name>BOEING CO</name>
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        <title>Boeing Co.</title>
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        <name>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp.</title>
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        <name>RXR Acquisition Corp.</name>
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        <title>Qatar Energy</title>
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        <invCountry>QA</invCountry>
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        <name>ILLINOIS ST</name>
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        <title>State of Illinois General Obligation Unlimited</title>
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          <annualizedRt>5.65000000</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>Cerberus</name>
        <lei>54930000UKAI7FBHXD27</lei>
        <title>Cerberus Loan Funding XXXIII, LP</title>
        <cusip>15674PAC1</cusip>
        <identifiers>
          <isin value="US15674PAC14"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>464471.20000000</valUSD>
        <pctVal>0.329917646009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.89400000</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>UPC BROADBAND FINCO BV</name>
        <lei>213800MNFBDEQRS6HZ22</lei>
        <title>UPC Broadband Finco BV</title>
        <cusip>90320BAA7</cusip>
        <identifiers>
          <isin value="US90320BAA70"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203750.00000000</valUSD>
        <pctVal>0.144725271178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PBJ4</cusip>
        <identifiers>
          <isin value="US46647PBJ49"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195322.65000000</valUSD>
        <pctVal>0.138739256385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.49300000</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>STADCO LA LLC</name>
        <lei>N/A</lei>
        <title>Stadco LA, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BGH7BEC21"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>392703.61000000</valUSD>
        <pctVal>0.278940546993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>2022-08-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Guggenheim Variable Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>John Sullivan</ncom:signature>
      <ncom:signerName>John Sullivan</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
