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        <name>BX Trust 2018-Bilt</name>
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        <name>O'Reilly Automotive Inc.</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Bain Capital Credit CLO 2024-1 Ltd/ LLC</name>
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        <name>BARINGS LN PARTNERS CLO LTD 5</name>
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        <name>Self Commercial Mortgage Trust 2024-STRG</name>
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        <name>UPG HI ISSUER TRUST 2025-2</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Bank of America Corp.</name>
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        <curCd>USD</curCd>
        <valUSD>48394776.63</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CF HIPPOLYTA ISSUER LLC</name>
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        <title>SORT 2022-1A A1</title>
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          <ticker value="SORT"/>
          <other otherDesc="Internal ID" value="12530MAL9"/>
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        <curCd>USD</curCd>
        <valUSD>17008247.23</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>CF HIPPOLYTA ISSUER LLC</name>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cheniere Energy Inc</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
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        <curCd>USD</curCd>
        <valUSD>21555201.15</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>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp. COM USD0.75</title>
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          <isin value="US1667641005"/>
          <ticker value="CVX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V3.887 01/10/28</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V5.827 02/13/35</title>
        <cusip>172967PG0</cusip>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <cusip>172967QH7</cusip>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>SM Energy Co.</name>
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        <cusip>17888HAB9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Compass Datacenters Issuer II LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Compass Datacenters Issuer II LLC</name>
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        <cusip>20469CAA3</cusip>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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          <couponKind>Fixed</couponKind>
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        <name>Federal National Mortgage Association</name>
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        <title>FNR 2019-71 P</title>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Ford Motor Credit Company LLC</name>
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        <name>Foundry JV Holdco LLC.</name>
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        <name>Foundry JV Holdco LLC.</name>
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        <name>Hess Midstream Operations LP</name>
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        <name>Home Depot Inc.</name>
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        <title>Home Depot Inc. COM USD0.05</title>
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        <name>Humana Inc.</name>
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      <invstOrSec>
        <name>LHOME MTG TR 2024-RTL3</name>
        <lei>N/A</lei>
        <title>LHOME 2024-RTL3 A1</title>
        <cusip>50205GAA0</cusip>
        <identifiers>
          <isin value="US50205GAA04"/>
          <ticker value="LHOME"/>
          <other otherDesc="Internal ID" value="50205GAA0"/>
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        <balance>8285561</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8322440.03</valUSD>
        <pctVal>0.0316306135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.9</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>LHOME MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>LHOME 2024-RTL4 A1</title>
        <cusip>50205PAA0</cusip>
        <identifiers>
          <isin value="US50205PAA03"/>
          <ticker value="LHOME"/>
          <other otherDesc="Internal ID" value="50205PAA0"/>
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        <balance>22374900</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22441924.01</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.921</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>LHOME MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>LHOME 2025-RTL3 A1</title>
        <cusip>50205YAA1</cusip>
        <identifiers>
          <isin value="US50205YAA10"/>
          <ticker value="LHOME"/>
          <other otherDesc="Internal ID" value="50205YAA1"/>
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        <balance>6451000</balance>
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        <curCd>USD</curCd>
        <valUSD>6469553.72</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.239</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>LHOME MORTGAGE TRUST 2026-RTL1</name>
        <lei>N/A</lei>
        <title>LHOME 2026-RTL1 A1</title>
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        <identifiers>
          <isin value="US50206JAA34"/>
          <ticker value="LHOME"/>
          <other otherDesc="Internal ID" value="50206JAA3"/>
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        <balance>4200000</balance>
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        <curCd>USD</curCd>
        <valUSD>4186696.08</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.908</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>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 6.75 11/17/28</title>
        <cusip>50212YAH7</cusip>
        <identifiers>
          <isin value="US50212YAH71"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAH7"/>
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        <balance>30079000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31513737.32</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>2028-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</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>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 6 05/20/34</title>
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        <identifiers>
          <isin value="US50212YAK01"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAK0"/>
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        <balance>19554000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19944136.52</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>2034-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</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>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 5.2 03/15/30</title>
        <cusip>50212YAL8</cusip>
        <identifiers>
          <isin value="US50212YAL83"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAL8"/>
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        <balance>8509000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8571353.61</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>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2</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>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 5.65 03/15/35</title>
        <cusip>50212YAM6</cusip>
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          <isin value="US50212YAM66"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAM6"/>
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        <balance>14248000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14125952.06</valUSD>
        <pctVal>0.0536876840</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>5.65</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>
        <name>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 5.15 06/15/30</title>
        <cusip>50212YAP9</cusip>
        <identifiers>
          <isin value="US50212YAP97"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAP9"/>
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        <balance>13703000</balance>
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        <curCd>USD</curCd>
        <valUSD>13762619.15</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>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15</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>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 5.75 06/15/35</title>
        <cusip>50212YAQ7</cusip>
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          <isin value="US50212YAQ70"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAQ7"/>
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        <balance>16998000</balance>
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        <curCd>USD</curCd>
        <valUSD>16930733.3</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</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>
      <invstOrSec>
        <name>LENDBUZZ SECURITIZATION TRUST</name>
        <lei>N/A</lei>
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          <isin value="US52608LAB62"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2025-R05 2M1</title>
        <cusip>20753CAB6</cusip>
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          <isin value="US20753CAB63"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2024-R04</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2024-R04 1M1</title>
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          <isin value="US20753GAB77"/>
          <ticker value="CAS"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>A&amp;D MORTGAGE TRUST 2023-NQM2</name>
        <lei>N/A</lei>
        <title>ADMT 2024-NQM5 A1</title>
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          <isin value="US00039KAC45"/>
          <ticker value="ADMT"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories COM NPV</title>
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          <isin value="US0028241000"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LEX 2024-BBG MORTGAGE TRUST</name>
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        <title>LEX 2024-BBG A</title>
        <cusip>52885AAA6</cusip>
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          <isin value="US52885AAA60"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIFE FINANCIAL SERVICES TRUST</name>
        <lei>N/A</lei>
        <title>LIFE 2021-BMR C</title>
        <cusip>53218CAE0</cusip>
        <identifiers>
          <isin value="US53218CAE03"/>
          <ticker value="LIFE"/>
          <other otherDesc="Internal ID" value="53218CAE0"/>
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        <balance>1642688.462088</balance>
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        <curCd>USD</curCd>
        <valUSD>1624394.03</valUSD>
        <pctVal>0.0061737399</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>LIFE FINANCIAL SERVICES TRUST</name>
        <lei>N/A</lei>
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          <isin value="US53218DAA63"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lightning Power</name>
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        <title>Lightning Power Term Loan B 325 2031-07-28</title>
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          <ticker value="LIGPLL"/>
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        <assetCat>LON</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lockheed Martin Corporation</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corporation COM USD1.00</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T EQUIPTMENT 2023-LEAF1 LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc. COM USD0.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>A&amp;D MORTGAGE TRUST 2025-NQM4</name>
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        <cusip>002941AA0</cusip>
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          <isin value="US002941AA06"/>
          <ticker value="ADMT"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ALA TRUST 2025-OANA</name>
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        <title>ALA 2025-OANA A</title>
        <cusip>009920AA7</cusip>
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          <isin value="US009920AA71"/>
          <ticker value="ALA"/>
          <other otherDesc="Internal ID" value="009920AA7"/>
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        <curCd>USD</curCd>
        <valUSD>40768550.62</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC / (Albertsons Safeway LLC)</name>
        <lei>549300YKWOC0AOR16R51</lei>
        <title>ACI 6.5 02/15/28 144A</title>
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          <ticker value="ACI"/>
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        <curCd>USD</curCd>
        <valUSD>14487180.51</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2022-R04</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2022-R04 1M2</title>
        <cusip>20753YCK6</cusip>
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          <ticker value="CAS"/>
          <other otherDesc="Internal ID" value="20753YCK6"/>
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        <balance>887782</balance>
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        <curCd>USD</curCd>
        <valUSD>903745.29</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.7619</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2025-R03</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2025-R02 1M1</title>
        <cusip>20754TAC6</cusip>
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          <ticker value="CAS"/>
          <other otherDesc="Internal ID" value="20754TAC6"/>
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        <curCd>USD</curCd>
        <valUSD>4011023.88</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>4.8119</annualizedRt>
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      <invstOrSec>
        <name>Maple Parent Holdings Corporation</name>
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          <ticker value="KDP"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Maple Parent Holdings Corporation</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>4847159.35</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625</annualizedRt>
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      <invstOrSec>
        <name>Marvell Technology Inc</name>
        <lei>N/A</lei>
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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>MasterCard Incorporated</name>
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        <title>MasterCard Incorporated COM USD0.0001 CLASS A</title>
        <cusip>57636Q104</cusip>
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          <ticker value="MA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Efmt 2025-RTL1</name>
        <lei>254900NFBGFOBK1G2B84</lei>
        <title>EFMT 2025-RTL1 A1</title>
        <cusip>26846FAA7</cusip>
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          <ticker value="EFMT"/>
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      <invstOrSec>
        <name>Copeland (Emerson Electrics climate control business)</name>
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        <title>Copeland (Emerson Electrics climate control business) Term Loan B 250 2030-05-01</title>
        <cusip>26872NAC3</cusip>
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          <ticker value="EMECLI"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2023-R08 1M1</title>
        <cusip>20755CAA6</cusip>
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          <isin value="US20755CAA62"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>3173463.17</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-26</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Alpha Generation LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>McDonald's Corp.</name>
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        <title>McDonald's Corp. COM USD0.01</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Medline Industries</name>
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        <title>Medline Industries Term Loan B (Incremental) 200 2030-10-01</title>
        <cusip>58503UAJ2</cusip>
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          <isin value="US58503UAJ25"/>
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        <name>ELEVANCE HEALTH INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <name>BAMLL RE-REMIC TRUST 2024-FRR2</name>
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        <name>Banc Of America Alternative Loan Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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          <ticker value="GNR"/>
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        <name>RCKT Mortgage Trust 2025-CES10</name>
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        <name>Uber Technologies Inc</name>
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        <name>BAYVIEW MSR OPPORTUNITY MASTER FUND</name>
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        <name>Copeland (Emerson Electrics climate control business)</name>
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        <name>Emerson Electric Co.</name>
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        <name>United Wholesale Mortgage LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <title>CAS 2024-R03 2M1</title>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZS3695</title>
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          <couponKind>Fixed</couponKind>
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        <name>Equinix Europe 2 Financing Corp LLC</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>U.S. Bancorp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Figre Trust 2023-HE1</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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          <isin value="US3132ADPD48"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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          <isin value="US3140XHL216"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Eaton Corporation PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV5152</title>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alphabet Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
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        <title>Amazon.com, Inc. COM USD0.01</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>U.S. Bancorp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>U.S. Bancorp.</name>
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        <name>Elmwood Clo VII Ltd.</name>
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        <name>Equinix Asia Financing Corporation Pte Ltd.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV7131</title>
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          <ticker value="FNMA"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV7132</title>
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          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140ML4S6"/>
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        <curCd>USD</curCd>
        <valUSD>416066.1</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>United States Treasury Notes</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Fnma Pass-Thru I</name>
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        <name>American Electric Power Co, Inc.</name>
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        <name>American Express Company</name>
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        <name>United States Treasury Notes</name>
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        <name>United States Treasury Notes</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Eaton Corp.</name>
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        <name>Ecolab Inc.</name>
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        <name>Finance Of America Structured Securities Tr 2017-HB1</name>
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        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Amphenol Corporation</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Antero Resources Corporation</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <name>Bank of America Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>FS TRUST 2026-ORL</name>
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          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD1551</title>
        <cusip>3132DNWL3</cusip>
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          <isin value="US3132DNWL36"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DNWL3"/>
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        <curCd>USD</curCd>
        <valUSD>4580429.12</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BH1902</title>
        <cusip>3140GQDG8</cusip>
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          <isin value="US3140GQDG89"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BHZGV53"/>
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        <curCd>USD</curCd>
        <valUSD>239027.45</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BX9351</title>
        <cusip>3140NEL94</cusip>
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          <isin value="US3140NEL941"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140NEL94"/>
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        <curCd>USD</curCd>
        <valUSD>1057966.08</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BY0782</title>
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          <isin value="US3140NG2Q21"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>VASA TRUST</name>
        <lei>N/A</lei>
        <title>VASA 2021-VASA A</title>
        <cusip>92230AAA4</cusip>
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          <isin value="US92230AAA43"/>
          <ticker value="VASA"/>
          <other otherDesc="Internal ID" value="92230AAA4"/>
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        <balance>8418000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-15</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Vantor Holdings (fka Maxar Technologies)</name>
        <lei>254900XMZ2ZZ33TF4651</lei>
        <title>Vantor Holdings (fka Maxar Technologies) Term Loan B 450 2033-02-16</title>
        <cusip>36355RAB1</cusip>
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          <ticker value="VNTHLD"/>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-03</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Black Pearl Compute LLC</name>
        <lei>N/A</lei>
        <title>BLKPRL 6.125 02/15/31 144A</title>
        <cusip>09216NAA8</cusip>
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          <isin value="US09216NAA81"/>
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          <other otherDesc="SEDOL" value="BMXG8Y8"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>DATA 2024 CNTR2 MORTGAGE TRUST</name>
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        <cusip>238020AA9</cusip>
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          <isin value="US238020AA91"/>
          <ticker value="DATA"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2023-DNA2 M1A</title>
        <cusip>35564KT58</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>KRE COMMERCIAL MORTGAGE TRUST 2025-</name>
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          <isin value="US50077KAA60"/>
          <ticker value="KRE"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>PNW TRUST 2026-ARTE</name>
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          <ticker value="PNW"/>
          <other otherDesc="Internal ID" value="73020TAA7"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <annualizedRt>0</annualizedRt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB3043</title>
        <cusip>3140QNLZ3</cusip>
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          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140QNLZ3"/>
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        <curCd>USD</curCd>
        <valUSD>19147788.36</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB3240</title>
        <cusip>3140QNS60</cusip>
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          <isin value="US3140QNS601"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140QNS60"/>
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        <balance>15812644.248401</balance>
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        <valUSD>14060115.42</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31374TCT4</cusip>
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          <isin value="US31374TCT43"/>
          <ticker value="FN"/>
          <other otherDesc="SEDOL" value="BF1XM17"/>
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        <balance>10663.4591108</balance>
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        <curCd>USD</curCd>
        <valUSD>10793.14</valUSD>
        <pctVal>0.0000410209</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL5887</title>
        <cusip>3138ENRH4</cusip>
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          <isin value="US3138ENRH40"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BF47H11"/>
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        <balance>1873452.6311442</balance>
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        <curCd>USD</curCd>
        <valUSD>1858105.34</valUSD>
        <pctVal>0.0070619928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>RCKT Mortgage Trust 2025-CES8</name>
        <lei>254900FCN7EI8DTYGA19</lei>
        <title>RCKT 2025-CES8 A1A</title>
        <cusip>74939WAA8</cusip>
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          <isin value="US74939WAA80"/>
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        <curCd>USD</curCd>
        <valUSD>14963871.41</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-08-25</maturityDt>
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          <annualizedRt>5.14773</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rckt Mortgage Trust 2025-Ces2</name>
        <lei>2549001985H26N17CK52</lei>
        <title>RCKT 2025-CES2 A1A</title>
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          <isin value="US74942BAA98"/>
          <ticker value="RCKT"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.503</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB4329</title>
        <cusip>3140QPY35</cusip>
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          <isin value="US3140QPY356"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB7112</title>
        <cusip>3140QS3W9</cusip>
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          <isin value="US3140QS3W95"/>
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        <balance>21320667.139874</balance>
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        <curCd>USD</curCd>
        <valUSD>21792752.5</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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          <isin value="GB00BVP99673"/>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-07</maturityDt>
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      <invstOrSec>
        <name>Rckt Mortgage Trust 2025-CES9</name>
        <lei>254900C7HSSCU34P7S40</lei>
        <title>RCKT 2025-CES9 A1A</title>
        <cusip>74942JAA2</cusip>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rckt Mortgage Trust 2025-CES7</name>
        <lei>254900E35NYYFOUTHD06</lei>
        <title>RCKT 2025-CES7 A1A</title>
        <cusip>74943AAA0</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-07-25</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>2023-MIC TRUST/THE</name>
        <lei>N/A</lei>
        <title>THE 2023-MIC A</title>
        <cusip>87256GAA0</cusip>
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          <isin value="US87256GAA04"/>
          <ticker value="THE"/>
          <other otherDesc="Internal ID" value="87256GAA0"/>
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        <curCd>USD</curCd>
        <valUSD>15595766.88</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>TVC MORTGAGE TRUST 2026-RRTL1</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL5942</title>
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          <ticker value="FNMA"/>
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          <couponKind>Fixed</couponKind>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL6542</title>
        <cusip>3138EPHU1</cusip>
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          <ticker value="FNMA"/>
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        <valUSD>3039060.2</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Federal National Mortgage Association</name>
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        <title>FN BJ4559</title>
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          <ticker value="FNMA"/>
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        <name>Federal National Mortgage Association</name>
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        <title>FN BJ4566</title>
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          <ticker value="FNMA"/>
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      <invstOrSec>
        <name>Texas Commercial Mortgage Trust 2025-Twr</name>
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        <cusip>88231WAA3</cusip>
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          <isin value="US88231WAA36"/>
          <ticker value="TEXAS"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>280 Park Avenue Trust</name>
        <lei>N/A</lei>
        <title>PRK 2017-280P A</title>
        <cusip>90205FAA8</cusip>
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          <isin value="US90205FAA84"/>
          <ticker value="PRK"/>
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        <valUSD>11360642.17</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2022-DNA3 M1B</title>
        <cusip>35564KUX5</cusip>
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          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564KUX5"/>
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        <balance>8680781</balance>
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        <curCd>USD</curCd>
        <valUSD>8831481.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.5619</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>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust</name>
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          <isin value="US35564NCX93"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BJ5170</title>
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          <ticker value="FNMA"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2025-DNA1 M1</title>
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          <isin value="US35564NFZ15"/>
          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564NFZ1"/>
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        <curCd>USD</curCd>
        <valUSD>4002244.37</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-25</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2025-DNA2 M1</title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BJ9181</title>
        <cusip>3140HBFX1</cusip>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BK1964</title>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>Xcel Energy Inc</name>
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        <cusip>98389BBE9</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Xcel Energy Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc. COM USD0.01 CL 'A'</title>
        <cusip>98978V103</cusip>
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          <ticker value="ZTS"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AGL CLO I Ltd.</name>
        <lei>5493005XHETQNZF9TM25</lei>
        <title>AGL 2023-26A A1R</title>
        <cusip>00852HAL5</cusip>
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          <ticker value="AGL"/>
          <other otherDesc="Internal ID" value="US00852HAL50"/>
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        <curCd>USD</curCd>
        <valUSD>39499324.55</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hertz Vehicle Financing LLC</name>
        <lei>5493004IHDYOZ9K9WF47</lei>
        <title>HERTZ 2025-5A A</title>
        <cusip>42806MDL0</cusip>
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          <ticker value="HERTZ"/>
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        <curCd>USD</curCd>
        <valUSD>10761505.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hilton Worldwide Holdings Inc</name>
        <lei>549300HVGPK36ICB0B89</lei>
        <title>Hilton Worldwide Holdings Inc COM USD0.01</title>
        <cusip>43300A203</cusip>
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          <ticker value="HLT"/>
          <other otherDesc="SEDOL" value="BYVMW06"/>
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        <curCd>USD</curCd>
        <valUSD>137778343.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOMEWARD OPPORTUNITIES FD TR 2024-</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOMEWARD OPPORTUNITIES FUND TRUST 2</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Homeward Opportunities Fund I Trust</name>
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      <invstOrSec>
        <name>Howmet Aerospace Inc</name>
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        <title>Howmet Aerospace Inc COM</title>
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        <name>Hudson's Bay Simon JV Trust</name>
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      <invstOrSec>
        <name>Humana Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange Inc COM USD0.01</title>
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          <ticker value="ICE"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Intuit Inc</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit Inc COM USD0.01</title>
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          <ticker value="INTU"/>
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        <curCd>USD</curCd>
        <valUSD>126062550.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 MA7535</title>
        <cusip>36179WLQ9</cusip>
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          <isin value="US36179WLQ95"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>36418251.05</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 BB9814</title>
        <cusip>3617B13X9</cusip>
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          <isin value="US3617B13X95"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BYVZ0T0"/>
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        <curCd>USD</curCd>
        <valUSD>144927.81</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BF0167</title>
        <cusip>3140FXFH0</cusip>
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          <isin value="US3140FXFH05"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BFYTKQ3"/>
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        <balance>8465638.8478112</balance>
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        <curCd>USD</curCd>
        <valUSD>7340996.93</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BF0598</title>
        <cusip>3140FXUY6</cusip>
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          <isin value="US3140FXUY62"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140FXUY6"/>
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        <balance>16781070.003024</balance>
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        <curCd>USD</curCd>
        <valUSD>13982317.22</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 BB9817</title>
        <cusip>3617B14A8</cusip>
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          <isin value="US3617B14A83"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BYVWLM1"/>
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        <curCd>USD</curCd>
        <valUSD>882528.46</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 BB9835</title>
        <cusip>3617B14U4</cusip>
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          <isin value="US3617B14U48"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BYVWLN2"/>
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        <curCd>USD</curCd>
        <valUSD>135175.83</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>Intuitive Surgical Inc.</name>
        <lei>54930052SRG011710797</lei>
        <title>Intuitive Surgical Inc. COM USD0.001</title>
        <cusip>46120E602</cusip>
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          <isin value="US46120E6023"/>
          <ticker value="ISRG"/>
          <other otherDesc="SEDOL" value="2871301"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</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>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JPMMT 2025-5MPR A1D</title>
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        <curCd>USD</curCd>
        <valUSD>6211494.26</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FA4270</title>
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          <isin value="US3140W4W863"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140W4W86"/>
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        <curCd>USD</curCd>
        <valUSD>25497891.15</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>Freeport-McMoRan Inc.</name>
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        <title>Freeport-McMoRan Inc. COM USD0.10</title>
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          <ticker value="FCX"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 785843</title>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Great Wolf Trust 2015-Wolf Mz</name>
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          <ticker value="GWT"/>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Jane Street Group LLC / JSG Finance Inc.</name>
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        <cusip>47077WAC2</cusip>
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      <invstOrSec>
        <name>HCA Inc.</name>
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          <ticker value="HCA"/>
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        <curCd>USD</curCd>
        <valUSD>10154414.66</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA 5.6 04/01/34</title>
        <cusip>404119CU1</cusip>
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          <ticker value="HCA"/>
          <other otherDesc="Internal ID" value="404119CU1"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16664637.89</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>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.6</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>HCA Healthcare Inc</name>
        <lei>529900PH4ZGUH2MNEU89</lei>
        <title>HCA Healthcare Inc COM USD0.01</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Health Care Service Corp A Mutual Legal Reserve Co.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jane Street Group LLC / JSG Finance Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Jane Street Group LLC / JSG Finance Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
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        <title>Johnson &amp; Johnson COM USD1.00</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Janus Henderson Cash Liquidity Fund LLC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Health Care Service Corp A Mutual Legal Reserve Co.</name>
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        <title>HCSERV 5.2 06/15/29 144A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Health Care Service Corp A Mutual Legal Reserve Co.</name>
        <lei>549300TMJ1FKCKECR148</lei>
        <title>HCSERV 5.45 06/15/34 144A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Pret 2021-Rn4 LLC</name>
        <lei>N/A</lei>
        <title>PRET 2025-RPL1 A1</title>
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          <isin value="US69392FAA57"/>
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        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Compass Datacenters Issuer II LLC</name>
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        <title>CMDC 2025-1A A2</title>
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          <isin value="US20469BAA52"/>
          <ticker value="CMDC"/>
          <other otherDesc="Internal ID" value="20469BAA5"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Compass Datacenters Issuer II LLC</name>
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        <title>CMDC 2025-2A A2</title>
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        <name>CYRUSONE DATA CENTERS ISSUER I LLC</name>
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        <name>CYRUSONE DATA CENTERS ISSUER I LLC</name>
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      <invstOrSec>
        <name>CME Group Inc.</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME Group Inc. COM USD0.01</title>
        <cusip>12572Q105</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM 8.625 11/01/30 144A</title>
        <cusip>17888HAC7</cusip>
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        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <name>Columbia Pipelines Operating Co. LLC</name>
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        <name>CYRUSONE DATA CENTERS ISSUER I LLC</name>
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        <name>DB Master Finance LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DB Master Finance LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>DB Master Finance LLC</name>
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      <invstOrSec>
        <name>DT Midstream Inc</name>
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        <name>DT Midstream Inc</name>
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        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2022-R05 2M1</title>
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          <ticker value="FNMA"/>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2022-R05 2M2</title>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2023-R06 1M1</title>
        <cusip>20754EAA3</cusip>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DT Midstream Inc</name>
        <lei>N/A</lei>
        <title>DTMINC 4.3 04/15/32 144A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Danaher Corporation</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>Danaher Corporation COM USD0.01</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Deere &amp; Company</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
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          <ticker value="DE"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp COM USD0.001</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Duke Energy Corp</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS5988</title>
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        <name>DIAMOND INFRASTRUCTURE FUNDING</name>
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        <title>DNFRA 2021-1A A</title>
        <cusip>25265LAA8</cusip>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB6686</title>
        <cusip>3140QSNC1</cusip>
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          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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          <ticker value="STACR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 MA4068</title>
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          <isin value="US36179SQV24"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 MA5400</title>
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          <isin value="US36179T7M16"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2025-HQA1 M1</title>
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          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564NGZ0"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <name>Freddie Mac Stacr Remic Trust</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2025-DNA3 M1</title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GLP Capital L.P. and GLP Financing II, Inc.</name>
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        <cusip>361841AL3</cusip>
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        <invCountry>US</invCountry>

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        <name>GLP Capital L.P. and GLP Financing II, Inc.</name>
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        <name>GCAT 2023-INV1 TRUST</name>
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        <title>GCAT 2023-INV1 A1</title>
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          <ticker value="GCAT"/>
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      <invstOrSec>
        <name>LMDV Issuer Co LLC</name>
        <lei>254900A6HRP8XHJJGM20</lei>
        <title>LMDV 2025-1A A2</title>
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          <ticker value="LMDV"/>
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        <curCd>USD</curCd>
        <valUSD>8706370.03</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GLP Capital L.P. and GLP Financing II, Inc.</name>
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          <isin value="US361841AT63"/>
          <ticker value="GLPI"/>
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        <curCd>USD</curCd>
        <valUSD>14318942.76</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>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GLP Capital L.P. and GLP Financing II, Inc.</name>
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        <title>GLPI 5.625 03/01/36</title>
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          <isin value="US361841AX75"/>
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        <balance>9524000</balance>
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        <curCd>USD</curCd>
        <valUSD>9263025.26</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>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Pret 2021-Rn4 LLC</name>
        <lei>N/A</lei>
        <title>PRET 2025-RPL2 A1</title>
        <cusip>69392LAA2</cusip>
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          <isin value="US69392LAA26"/>
          <ticker value="PRET"/>
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        <curCd>USD</curCd>
        <valUSD>12506009.06</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4</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>PRET 2025-RPL5 TRUST</name>
        <lei>N/A</lei>
        <title>PRET 2025-RPL5 A1</title>
        <cusip>69393AAA5</cusip>
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          <isin value="US69393AAA51"/>
          <ticker value="PRET"/>
          <other otherDesc="Internal ID" value="69393AAA5"/>
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        <balance>21637474.828562</balance>
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        <curCd>USD</curCd>
        <valUSD>21005023.75</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2070-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.15</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GN 784059</title>
        <cusip>3622A2QL9</cusip>
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          <isin value="US3622A2QL99"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BDRM6N4"/>
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        <balance>6912533.4843822</balance>
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        <curCd>USD</curCd>
        <valUSD>6672935.02</valUSD>
        <pctVal>0.0253614358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GN 784182</title>
        <cusip>3622A2UF7</cusip>
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          <isin value="US3622A2UF75"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BDZVVH2"/>
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        <balance>8874542.9782957</balance>
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        <curCd>USD</curCd>
        <valUSD>8751789.04</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</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>GXO Logistics Inc.</name>
        <lei>5493007CNWMXN78JRN66</lei>
        <title>GXO 1.65 07/15/26</title>
        <cusip>36262GAB7</cusip>
        <identifiers>
          <isin value="US36262GAB77"/>
          <ticker value="GXO"/>
          <other otherDesc="Internal ID" value="36262GAB7"/>
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        <balance>14940000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14806102.94</valUSD>
        <pctVal>0.0562726939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2025-CES2</name>
        <lei>254900U0V0TUGIF39T29</lei>
        <title>GSMBS 2025-CES2 A1</title>
        <cusip>36273BAA7</cusip>
        <identifiers>
          <isin value="US36273BAA70"/>
          <ticker value="GSMBS"/>
          <other otherDesc="Internal ID" value="36273BAA7"/>
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        <balance>10903446.861929</balance>
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        <curCd>USD</curCd>
        <valUSD>10864075.2</valUSD>
        <pctVal>0.0412904584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.18</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>Qnity Electronics</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics Term Loan B 200 2032-08-03</title>
        <cusip>74737SAB9</cusip>
        <identifiers>
          <isin value="US74737SAB97"/>
          <ticker value="QNTELE"/>
          <other otherDesc="Internal ID" value="74737SAB9"/>
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        <balance>8013000</balance>
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        <curCd>USD</curCd>
        <valUSD>7992967.5</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.66774</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Qnity Electronics Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>QNTELE 5.75 08/15/32 144A</title>
        <cusip>74743LAA8</cusip>
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          <isin value="US74743LAA89"/>
          <ticker value="QNTELE"/>
          <other otherDesc="SEDOL" value="BVMDN60"/>
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        <curCd>USD</curCd>
        <valUSD>9976868.32</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>SMRT MINI</name>
        <lei>N/A</lei>
        <title>SMRT 2022-MINI A</title>
        <cusip>78457JAA0</cusip>
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          <isin value="US78457JAA07"/>
          <ticker value="SMRT"/>
          <other otherDesc="Internal ID" value="78457JAA0"/>
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        <balance>10990000</balance>
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        <curCd>USD</curCd>
        <valUSD>10976301.99</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.673</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SV RNO Property Owner 1 LLC</name>
        <lei>N/A</lei>
        <title>TRACTC 5.875 03/01/31 144A</title>
        <cusip>78488XAA2</cusip>
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          <isin value="US78488XAA28"/>
          <ticker value="TRACTC"/>
          <other otherDesc="Internal ID" value="78488XAA2"/>
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        <balance>49354000</balance>
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        <curCd>USD</curCd>
        <valUSD>48786061.81</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>GS MORTGAGE SECURITIES CORPORATION</name>
        <lei>N/A</lei>
        <title>GSMS 2025-800D A</title>
        <cusip>36273XAA9</cusip>
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          <isin value="US36273XAA90"/>
          <ticker value="GSMS"/>
          <other otherDesc="Internal ID" value="36273XAA9"/>
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        <valUSD>10401258.19</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.32956</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2026-CES1</name>
        <lei>N/A</lei>
        <title>GSMBS 2026-CES1 A1</title>
        <cusip>36277LAA1</cusip>
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          <isin value="US36277LAA17"/>
          <ticker value="GSMBS"/>
          <other otherDesc="Internal ID" value="36277LAA1"/>
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        <balance>3821669.736</balance>
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        <curCd>USD</curCd>
        <valUSD>3800436.85</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.899</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>N/A</lei>
        <title>Ginnie Mae I Pool</title>
        <cusip>36291EBY6</cusip>
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          <isin value="US36291EBY68"/>
          <ticker value="GN"/>
          <other otherDesc="SEDOL" value="BDZVVW7"/>
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        <balance>36941.165948</balance>
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        <curCd>USD</curCd>
        <valUSD>38435.52</valUSD>
        <pctVal>0.0001460796</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</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>GE Vernova Inc.</name>
        <lei>254900DP080RU6OK2553</lei>
        <title>GE Vernova Inc. COM</title>
        <cusip>36828A101</cusip>
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          <isin value="US36828A1016"/>
          <ticker value="GEV"/>
          <other otherDesc="SEDOL" value="BP6H4Y1"/>
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        <balance>128232</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111933712.8</valUSD>
        <pctVal>0.4254199489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</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>GE Aerospace</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GE Aerospace COM NEW</title>
        <cusip>369604301</cusip>
        <identifiers>
          <isin value="US3696043013"/>
          <ticker value="GE"/>
          <other otherDesc="SEDOL" value="BL59CR9"/>
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        <balance>714386</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>202721315.22</valUSD>
        <pctVal>0.7704711065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>SALUDA GRADE ALTERNATIVE MORTGAGE T</name>
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        <name>Santander Bank Auto Credit-Linked Notes Series 2021-1</name>
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        <valUSD>747126.84</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-16</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>Sequoia Mortgage Trust 2013-5</name>
        <lei>549300671OK77JNRLK28</lei>
        <title>SEMT 2013-5 A1</title>
        <cusip>81745AAA5</cusip>
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          <isin value="US81745AAA51"/>
          <ticker value="SEMT"/>
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        <balance>1634399.2341845</balance>
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        <curCd>USD</curCd>
        <valUSD>1462532.37</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.5</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>Sequoia Mortgage Trust 2004 11</name>
        <lei>N/A</lei>
        <title>SEMT 2020-2 A19</title>
        <cusip>81748KBN1</cusip>
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          <isin value="US81748KBN19"/>
          <ticker value="SEMT"/>
          <other otherDesc="Internal ID" value="81748KBN1"/>
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        <balance>679140.0096508</balance>
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        <curCd>USD</curCd>
        <valUSD>610618.06</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Solventum Corp.</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>SOLV 5.45 03/13/31</title>
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          <isin value="US83444MAQ42"/>
          <ticker value="SOLV"/>
          <other otherDesc="Internal ID" value="83444MAQ4"/>
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        <balance>30323000</balance>
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        <curCd>USD</curCd>
        <valUSD>31110479.52</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>2031-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45</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>Solventum Corp.</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>SOLV 5.6 03/23/34</title>
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          <isin value="US83444MAR25"/>
          <ticker value="SOLV"/>
          <other otherDesc="Internal ID" value="83444MAR2"/>
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        <balance>39969000</balance>
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        <curCd>USD</curCd>
        <valUSD>40860729.97</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>2034-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.6</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>QTS ISSUER ABS II, LLC</name>
        <lei>N/A</lei>
        <title>QTSII 2026-5A A2</title>
        <cusip>74690FBE5</cusip>
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          <isin value="US74690FBE51"/>
          <ticker value="QTSII"/>
          <other otherDesc="Internal ID" value="74690FBE5"/>
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        <balance>20120000</balance>
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        <curCd>USD</curCd>
        <valUSD>20021086.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.178</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>Quikrete Holdings Inc</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>QUIKHO 6.375 03/01/32 144A</title>
        <cusip>74843PAA8</cusip>
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          <isin value="US74843PAA84"/>
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          <other otherDesc="Internal ID" value="74843PAA8"/>
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        <curCd>USD</curCd>
        <valUSD>16124675.71</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375</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>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. COM USD5</title>
        <cusip>842587107</cusip>
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          <isin value="US8425871071"/>
          <ticker value="SO"/>
          <other otherDesc="SEDOL" value="2829601"/>
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        <balance>850386</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82079256.72</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>Stryker Corporation</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corporation COM USD0.10</title>
        <cusip>863667101</cusip>
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          <isin value="US8636671013"/>
          <ticker value="SYK"/>
          <other otherDesc="SEDOL" value="2853688"/>
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        <balance>553142</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181756929.78</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WOODWARD CAPITAL MANAGEMENT</name>
        <lei>N/A</lei>
        <title>RCKT 2021-3 A21</title>
        <cusip>74938DAW3</cusip>
        <identifiers>
          <isin value="US74938DAW39"/>
          <ticker value="RCKT"/>
          <other otherDesc="Internal ID" value="74938DAW3"/>
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        <balance>8141051.5214556</balance>
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        <curCd>USD</curCd>
        <valUSD>7574491.32</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKT MORTGAGE TRUST 2026-CES2</name>
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        <title>RCKT 2026-CES2 A1A</title>
        <cusip>74940EAA5</cusip>
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          <isin value="US74940EAA55"/>
          <ticker value="RCKT"/>
          <other otherDesc="SEDOL" value="BW2JL83"/>
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        <curCd>USD</curCd>
        <valUSD>8838489.78</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RCKT MORTGAGE TRUST 2026-CES2</name>
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        <title>RCKT 2026-CES2 A1B</title>
        <cusip>74940EAB3</cusip>
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          <isin value="US74940EAB39"/>
          <ticker value="RCKT"/>
          <other otherDesc="SEDOL" value="BW2JL72"/>
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        <curCd>USD</curCd>
        <valUSD>2938638.11</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2026-R1</name>
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        <title>RPM 2026-R1A A</title>
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          <isin value="US76089TAA88"/>
          <ticker value="RPM"/>
          <other otherDesc="Internal ID" value="76089TAA8"/>
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        <curCd>USD</curCd>
        <valUSD>7516980.33</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUN 7 05/01/29 144A</title>
        <cusip>86765KAB5</cusip>
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          <ticker value="SUN"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUN 7.25 05/01/32 144A</title>
        <cusip>86765KAC3</cusip>
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          <isin value="US86765KAC36"/>
          <ticker value="SUN"/>
          <other otherDesc="Internal ID" value="86765KAC3"/>
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        <curCd>USD</curCd>
        <valUSD>13066834.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLP TRUST 2025-IND2</name>
        <lei>N/A</lei>
        <title>BLP 2025-IND2 A</title>
        <cusip>05556WAA4</cusip>
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          <isin value="US05556WAA45"/>
          <ticker value="BLP"/>
          <other otherDesc="Internal ID" value="05556WAA4"/>
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        <curCd>USD</curCd>
        <valUSD>15885727.54</valUSD>
        <pctVal>0.0603759603</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.17251</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>BPR TRUST 2024-PMDW</name>
        <lei>N/A</lei>
        <title>BPR 2024-PMDW A</title>
        <cusip>05592VAA2</cusip>
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          <isin value="US05592VAA26"/>
          <ticker value="BPR"/>
          <other otherDesc="Internal ID" value="05592VAA2"/>
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        <balance>28442928</balance>
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        <curCd>USD</curCd>
        <valUSD>28787959.61</valUSD>
        <pctVal>0.1094127229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.358</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>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>SUN 5.625 03/15/31 144A</title>
        <cusip>86765KAF6</cusip>
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          <isin value="US86765KAF66"/>
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      <invstOrSec>
        <name>CROTON PARK CLO LTD</name>
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      <invstOrSec>
        <name>BPR TRUST 2024-PMDW</name>
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      <invstOrSec>
        <name>BX Trust 2018-Bilt</name>
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        <name>Societe Generale S.A.</name>
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        <name>Societe Generale S.A.</name>
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      <invstOrSec>
        <name>BX Trust 2018-Bilt</name>
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        <cusip>05606FAJ2</cusip>
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        <name>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
        <title>BX 2021-LBA AV</title>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Freddie Mac</name>
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        <name>Meta Platforms Inc</name>
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        <name>Huntington National Bank of Ohio</name>
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        <name>Roblox Corporation</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Rocket Companies Inc</name>
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        <name>SCG Commercial Mortgage Trust 2025-DLFN</name>
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      <invstOrSec>
        <name>BX Trust 2018-Bilt</name>
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        <name>BPR TST</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
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        <name>BLP Commercial Mortgage Trust 2025-IND</name>
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        <name>BAYVIEW OPPORTUNITY MASTER FUND VII 2025-EDU1, LLC</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR ZT1145</title>
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        <name>Freddie Mac</name>
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        <name>Micron Technology Inc.</name>
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        <title>Micron Technology Inc. COM USD0.10</title>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley COM USD0.01</title>
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        <name>Morgan Stanley</name>
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        <name>Morgan Stanley</name>
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        <name>SCF EQUIPMENT LEASING 2025-2 LLC</name>
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      <invstOrSec>
        <name>Salesforce Inc.</name>
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        <title>CRM 4.9 09/15/31</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Booking Holdings Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Salesforce Inc.</name>
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        <name>Salesforce Inc.</name>
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        <name>Booz Allen Hamilton Inc</name>
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        <name>Booz Allen Hamilton Inc</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR QD9513</title>
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          <ticker value="FHLMC"/>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Boston Scientific Corporation</name>
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        <title>Boston Scientific Corporation COM USD0.01</title>
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        <name>Broadcom Inc</name>
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        <title>Broadcom Inc COM USD0.001</title>
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        <name>Morgan Stanley</name>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Salesforce Inc.</name>
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        <name>Stack Infrastructure Issuer Llc</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Motorola Solutions Inc</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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          <isin value="US3133BX6G16"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>1574177.85</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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          <isin value="US3133C1S761"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3133C1S76"/>
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        <curCd>USD</curCd>
        <valUSD>1795691.54</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QA5622</title>
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          <isin value="US3133A0G737"/>
          <ticker value="FHLMC"/>
          <other otherDesc="SEDOL" value="BKSLQC8"/>
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        <balance>641218.07462201</balance>
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        <curCd>USD</curCd>
        <valUSD>571530.06</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FR QA8274</title>
        <cusip>3133A3FP8</cusip>
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          <isin value="US3133A3FP87"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3133A3FP8"/>
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        <balance>561942.62397056</balance>
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        <curCd>USD</curCd>
        <valUSD>518419.99</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QB1708</title>
        <cusip>3133A73R8</cusip>
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          <isin value="US3133A73R88"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3133A73R8"/>
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        <balance>795566.5547958</balance>
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        <curCd>USD</curCd>
        <valUSD>687254</valUSD>
        <pctVal>0.0026120063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2020-Hqa2</name>
        <lei>5493000ITBJ4KEFYWF83</lei>
        <title>FR QB2976</title>
        <cusip>3133A9JV8</cusip>
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          <isin value="US3133A9JV89"/>
          <ticker value="FR"/>
          <other otherDesc="Internal ID" value="3133A9JV8"/>
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        <balance>358074.45995328</balance>
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        <curCd>USD</curCd>
        <valUSD>309213.4</valUSD>
        <pctVal>0.0011752094</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</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>Talen Energy Supply</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>Talen Energy Supply Term Loan B (Incremental) 200 2032-10-04</title>
        <cusip>87422LBA7</cusip>
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          <isin value="US87422LBA70"/>
          <ticker value="TLN"/>
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        <curCd>USD</curCd>
        <valUSD>18874840.14</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>TLN 6.25 02/01/34 144A</title>
        <cusip>87422VAM0</cusip>
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          <ticker value="TLN"/>
          <other otherDesc="Internal ID" value="87422VAM0"/>
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        <balance>19547000</balance>
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        <curCd>USD</curCd>
        <valUSD>19329215.14</valUSD>
        <pctVal>0.0734634232</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>TLN 6.5 02/01/36 144A</title>
        <cusip>87422VAN8</cusip>
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          <ticker value="TLN"/>
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        <balance>32081000</balance>
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        <curCd>USD</curCd>
        <valUSD>32303344.75</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Company LLC</name>
        <lei>5493006PITD7MU7WW480</lei>
        <title>TEVA 6.15 02/01/36</title>
        <cusip>88163VAD1</cusip>
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          <ticker value="TEVA"/>
          <other otherDesc="Internal ID" value="88163VAD1"/>
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        <curCd>USD</curCd>
        <valUSD>8521727.09</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDENTREE LN MGM 20 LTD/LLC</name>
        <lei>549300TS068SCJRDSP12</lei>
        <title>GLM 2023-17A AR</title>
        <cusip>38139FAN0</cusip>
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          <ticker value="GLM"/>
          <other otherDesc="Internal ID" value="US38139FAN06"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27406194.86</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-01-20</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Netherlands III B.V.</name>
        <lei>5493004T21MOAFINJP35</lei>
        <title>TEVA 6 12/01/32</title>
        <cusip>88167AAT8</cusip>
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          <isin value="US88167AAT88"/>
          <ticker value="TEVA"/>
          <other otherDesc="Internal ID" value="US88167AAT88"/>
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        <balance>14987000</balance>
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        <curCd>USD</curCd>
        <valUSD>15381757.58</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Netherlands IV B.V.</name>
        <lei>549300GKSD1RG56QRY33</lei>
        <title>TEVA 5.75 12/01/30</title>
        <cusip>881937AA4</cusip>
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          <isin value="US881937AA41"/>
          <ticker value="TEVA"/>
          <other otherDesc="SEDOL" value="BS5YX25"/>
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        <valUSD>11904182.71</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Royal Caribbean Group</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Group COM USD0.01</title>
        <cusip>V7780T103</cusip>
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          <isin value="LR0008862868"/>
          <ticker value="RCL"/>
          <other otherDesc="SEDOL" value="2754907"/>
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        <balance>579249</balance>
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        <curCd>USD</curCd>
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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>
      <invstOrSec>
        <name>TOORAK MORTGAGE CORP</name>
        <lei>25490023B58UP9CM5N96</lei>
        <title>TRK 2025-RRTL1 A1</title>
        <cusip>89053JAB3</cusip>
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          <isin value="US89053JAB35"/>
          <ticker value="TRK"/>
          <other otherDesc="Internal ID" value="89053JAB3"/>
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        <balance>7590000</balance>
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        <curCd>USD</curCd>
        <valUSD>7600952.37</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.524</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>Towd Point Mortgage Trust 2025-FIX2</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>TPMT 2025-FIX2 A1</title>
        <cusip>89183RAA0</cusip>
        <identifiers>
          <isin value="US89183RAA05"/>
          <ticker value="TPMT"/>
          <other otherDesc="Internal ID" value="89183RAA0"/>
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        <balance>17891832.300596</balance>
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        <curCd>USD</curCd>
        <valUSD>17835317.35</valUSD>
        <pctVal>0.0677856528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <name>Cadence Design Systems, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Viper Energy Partners LLC</name>
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        <name>TICP CLO VI 2016-2 Ltd.</name>
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        <title>SIXST 2017-9A AR</title>
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        <name>OASIS SECURITISATION 24-1A</name>
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        <name>MSCI Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <title>FN BY0866</title>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Walt Disney Company</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Columbia Pipelines Operating Co. LLC</name>
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        <name>Figre Trust 2023-HE1</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Figre Trust 2023-HE1</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Figre Trust 2023-HE1</name>
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        <name>Columbia Pipelines Operating Co. LLC</name>
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        <name>ConocoPhillips</name>
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        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>COOPR RESIDENTIAL MORTGAGE TRUST 2026-CES1</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>COOPR 2026-CES1 A1A</title>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Figre Trust 2023-HE1</name>
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        <name>Flagstar Mtg Tr 2017-1</name>
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          <isin value="US33853HAB78"/>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <name>Madison Park Funding LV Ltd / Madison Park Funding LV LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Fannie Mae</name>
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        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CA4035</title>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Costco Wholesale Corporation</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corporation COM USD0.01</title>
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          <ticker value="COST"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Madison Park Funding Xxxiv Ltd.</name>
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        <name>FOUNDATION FINANCE TRUST 2025-3</name>
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        <name>KLA Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CSTL COMMERCIAL MORTGAGE TRUST 2026-GATE3</name>
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        <name>Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.</name>
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        <name>OHA Credit Funding 7 Ltd.</name>
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        <name>OCP CLO 2014-6 Ltd.</name>
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        <name>Federal Home Loan Banks</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Octagon Investment Partners XXIV Ltd.</name>
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        <name>Oha Credit Partners Xv Limited</name>
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        <name>Fannie Mae</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB0456</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GN BB4357</title>
        <cusip>3617AUZW3</cusip>
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          <isin value="US3617AUZW38"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BFF1VL0"/>
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        <curCd>USD</curCd>
        <valUSD>1482558.32</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GN BC7161</title>
        <cusip>3617BA5W9</cusip>
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          <isin value="US3617BA5W90"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BFF1Z30"/>
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        <balance>223614.27380239</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213290.95</valUSD>
        <pctVal>0.0008106425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140W35Z8</cusip>
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          <isin value="US3140W35Z80"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140W35Z8"/>
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        <balance>6075131.1746244</balance>
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        <curCd>USD</curCd>
        <valUSD>6207842.17</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FA3182</title>
        <cusip>3140W3RC5</cusip>
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          <isin value="US3140W3RC53"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140W3RC5"/>
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        <balance>4193464.3510725</balance>
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        <curCd>USD</curCd>
        <valUSD>4311343.91</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 BH3672</title>
        <cusip>3617H1CH8</cusip>
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          <isin value="US3617H1CH89"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BFY2YV5"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 BH3673</title>
        <cusip>3617H1CJ4</cusip>
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          <isin value="US3617H1CJ46"/>
          <ticker value="GNR"/>
          <other otherDesc="SEDOL" value="BFY2YS2"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</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>
      <invstOrSec>
        <name>Rckt Mortgage Trust 2024-Ces9</name>
        <lei>N/A</lei>
        <title>RCKT 2024-CES9 A1A</title>
        <cusip>749426AA0</cusip>
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          <isin value="US749426AA06"/>
          <ticker value="RCKT"/>
          <other otherDesc="Internal ID" value="749426AA0"/>
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        <balance>3327175.7982197</balance>
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        <curCd>USD</curCd>
        <valUSD>3336889.28</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.582</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRACKSIDE RAIL LLC</name>
        <lei>N/A</lei>
        <title>MWCX 2026-1A A</title>
        <cusip>89239YAA9</cusip>
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          <isin value="US89239YAA91"/>
          <ticker value="MWCX"/>
          <other otherDesc="Internal ID" value="89239YAA9"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WOODWARD CAPITAL MANAGEMENT</name>
        <lei>N/A</lei>
        <title>RCKT 2023-CES1 A1A</title>
        <cusip>74935WAA2</cusip>
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          <ticker value="RCKT"/>
          <other otherDesc="Internal ID" value="74935WAA2"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>WOODWARD CAPITAL MANAGEMENT</name>
        <lei>N/A</lei>
        <title>RCKT 2024-CES2 A1A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>N/A</lei>
        <title>AOMT 2019-5 A1</title>
        <cusip>03464KAA6</cusip>
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          <ticker value="AOMT"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Angel Oak Mortgage Trust 2019-6</name>
        <lei>N/A</lei>
        <title>AOMT 2019-6 A1</title>
        <cusip>03464VAA2</cusip>
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          <ticker value="AOMT"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>WOODWARD CAPITAL MANAGEMENT</name>
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        <title>RCKT 2024-CES1 A1A</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <securityLending>
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      <invstOrSec>
        <name>Vantage Data Centers Issuer</name>
        <lei>N/A</lei>
        <title>VDC 2020-2A A2</title>
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          <isin value="US92212KAC09"/>
          <ticker value="VDC"/>
          <other otherDesc="Internal ID" value="92212KAC0"/>
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        <curCd>USD</curCd>
        <valUSD>10996769.99</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FA4600</title>
        <cusip>3140W5DE1</cusip>
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          <isin value="US3140W5DE14"/>
          <ticker value="FN"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase Bank, National Association</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>CHASE 2021-CL1 M1</title>
        <cusip>46591HBX7</cusip>
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          <ticker value="JPM"/>
          <other otherDesc="Internal ID" value="46591HBX7"/>
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        <balance>11944006.098662</balance>
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        <curCd>USD</curCd>
        <valUSD>11658985.09</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>2050-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.8619</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust 2020-3</name>
        <lei>N/A</lei>
        <title>AOMT 2020-3 A2</title>
        <cusip>03465LAB1</cusip>
        <identifiers>
          <isin value="US03465LAB18"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="03465LAB1"/>
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        <balance>1431214.8120153</balance>
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        <curCd>USD</curCd>
        <valUSD>1378464.59</valUSD>
        <pctVal>0.0052390502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.41</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>Angel Oak Mortgage Trust</name>
        <lei>25490045FDNHIWZ12934</lei>
        <title>AOMT 2024-5 A1</title>
        <cusip>03465YAA5</cusip>
        <identifiers>
          <isin value="US03465YAA55"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="03465YAA5"/>
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        <balance>20982572.897886</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20817203.79</valUSD>
        <pctVal>0.0791187351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2068-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.95</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>TransDigm</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm Term Loan M (Incremental) 250 2032-08-01</title>
        <cusip>89364MCE2</cusip>
        <identifiers>
          <isin value="US89364MCE21"/>
          <ticker value="TDG"/>
          <other otherDesc="Internal ID" value="89364MCE2"/>
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        <balance>21031315</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21026267.48</valUSD>
        <pctVal>0.0799133113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.16774</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>U.S. Bank National Association</name>
        <lei>6BYL5QZYBDK8S7L73M02</lei>
        <title>USCLN 2026-RVM1 B1</title>
        <cusip>90355PAJ5</cusip>
        <identifiers>
          <isin value="US90355PAJ57"/>
          <ticker value="USB"/>
          <other otherDesc="Internal ID" value="90355PAJ5"/>
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        <balance>9603000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9555629.94</valUSD>
        <pctVal>0.0363175267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.959</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>Vertex Pharmaceuticals Incorporated</name>
        <lei>54930015RAQRRZ5ZGJ91</lei>
        <title>Vertex Pharmaceuticals Incorporated COM USD0.01</title>
        <cusip>92532F100</cusip>
        <identifiers>
          <isin value="US92532F1003"/>
          <ticker value="VRTX"/>
          <other otherDesc="SEDOL" value="2931034"/>
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        <balance>352635</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>157465632.9</valUSD>
        <pctVal>0.5984704681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISTA POINT SECURITIZATION TRUST 2026-CES1</name>
        <lei>N/A</lei>
        <title>VSTA 2026-CES1 A1</title>
        <cusip>92790EAA8</cusip>
        <identifiers>
          <isin value="US92790EAA82"/>
          <ticker value="VSTA"/>
          <other otherDesc="Internal ID" value="92790EAA8"/>
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        <balance>8682885.47781</balance>
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        <curCd>USD</curCd>
        <valUSD>8587337.7</valUSD>
        <pctVal>0.0326373947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.035</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>Angel Oak Mortgage Trust</name>
        <lei>254900GRN1I3WMM1H095</lei>
        <title>AOMT 2025-6 A1</title>
        <cusip>034937AA0</cusip>
        <identifiers>
          <isin value="US034937AA05"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="034937AA0"/>
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        <balance>15722849.398582</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15780587.35</valUSD>
        <pctVal>0.0599763601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.515</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>Ansley Park Capital 2025-A LLC</name>
        <lei>N/A</lei>
        <title>APARK 2025-A A2</title>
        <cusip>03637AAB8</cusip>
        <identifiers>
          <isin value="US03637AAB89"/>
          <ticker value="APARK"/>
          <other otherDesc="Internal ID" value="03637AAB8"/>
        </identifiers>
        <balance>10745330.02404</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10759907.82</valUSD>
        <pctVal>0.0408945555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.43</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>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
        <title>BX 2024-BRBK A</title>
        <cusip>05613NAA5</cusip>
        <identifiers>
          <isin value="US05613NAA54"/>
          <ticker value="BX"/>
          <other otherDesc="Internal ID" value="05613NAA5"/>
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        <balance>29782657</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29940683.99</valUSD>
        <pctVal>0.1137938154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.55776</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>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
        <title>BX 2024-AIR2 A</title>
        <cusip>05613QAA8</cusip>
        <identifiers>
          <isin value="US05613QAA85"/>
          <ticker value="BX"/>
          <other otherDesc="Internal ID" value="05613QAA8"/>
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        <balance>26045577.575868</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26045414.75</valUSD>
        <pctVal>0.0989892923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.1653</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>Trane Technologies PLC</name>
        <lei>549300BURLR9SLYY2705</lei>
        <title>Trane Technologies PLC COM USD1</title>
        <cusip>G8994E103</cusip>
        <identifiers>
          <isin value="IE00BK9ZQ967"/>
          <ticker value="TT"/>
          <other otherDesc="SEDOL" value="BK9ZQ96"/>
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        <balance>388200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>161778468</valUSD>
        <pctVal>0.6148620095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Quantum Minerals Ltd.</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
        <title>FMCN 6.375 02/15/36 144A</title>
        <cusip>335934AY1</cusip>
        <identifiers>
          <isin value="US335934AY19"/>
          <ticker value="FMCN"/>
          <other otherDesc="Internal ID" value="US335934AY19"/>
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        <balance>11976000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11521113.2</valUSD>
        <pctVal>0.0437876245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375</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>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa Inc COM STK USD0.0001</title>
        <cusip>92826C839</cusip>
        <identifiers>
          <isin value="US92826C8394"/>
          <ticker value="V"/>
          <other otherDesc="SEDOL" value="B2PZN04"/>
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        <balance>693065</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>209471965.6</valUSD>
        <pctVal>0.7961279106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</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>Vistra Operations Co LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>VST 4.7 01/31/31 144A</title>
        <cusip>92840VAY8</cusip>
        <identifiers>
          <isin value="US92840VAY83"/>
          <ticker value="VST"/>
          <other otherDesc="Internal ID" value="92840VAY8"/>
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        <balance>4237000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4168781.76</valUSD>
        <pctVal>0.0158440463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.7</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>CompoSecure/Husky Technologies</name>
        <lei>N/A</lei>
        <title>CompoSecure/Husky Technologies Term Loan B 225 2032-12-31</title>
        <cusip>20459KAB5</cusip>
        <identifiers>
          <isin value="US20459KAB52"/>
          <ticker value="COMPOS"/>
          <other otherDesc="Internal ID" value="BL5426236"/>
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        <balance>2810000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2797720.3</valUSD>
        <pctVal>0.0106331327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.92812</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>CARLYLE US CLO 2023-2 LTD/LLC</name>
        <lei>N/A</lei>
        <title>CGMS 2023-2A A1R</title>
        <cusip>14318GAN2</cusip>
        <identifiers>
          <isin value="US14318GAN25"/>
          <ticker value="CGMS"/>
          <other otherDesc="Internal ID" value="US14318GAN25"/>
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        <balance>33655000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33678884.95</valUSD>
        <pctVal>0.1280013783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.98763</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>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
        <title>BX 2024-GPA3 A</title>
        <cusip>123910AA9</cusip>
        <identifiers>
          <isin value="US123910AA98"/>
          <ticker value="BX"/>
          <other otherDesc="Internal ID" value="123910AA9"/>
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        <balance>13625521.699487</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13620105.61</valUSD>
        <pctVal>0.0517651428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.96533</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>BX COML MTG TR 2024-AIRC</name>
        <lei>N/A</lei>
        <title>BX 2024-AIRC C</title>
        <cusip>12433CAE5</cusip>
        <identifiers>
          <isin value="US12433CAE57"/>
          <ticker value="BX"/>
          <other otherDesc="Internal ID" value="12433CAE5"/>
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        <balance>10047104.700185</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10046782.82</valUSD>
        <pctVal>0.0381842228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Flutter Treasury Designated Activity Co.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Aon North America Inc.</name>
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        <name>Apld Computeco 2 LLC</name>
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        <name>Vistra Operations Co LLC</name>
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        <name>Wells Fargo Commercial Mortgage Trust 2025-VTT</name>
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      <invstOrSec>
        <name>Apple Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Applovin Corp.</name>
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        <name>Applovin Corp.</name>
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        <name>Applovin Corp.</name>
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        <name>N/A</name>
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        <title>Sell GBP / Buy USD</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Constellation Software Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Wendys Funding Llc</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>Mello Mortgage Capital Acceptance 2018-Mtg1</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Wendys Funding Llc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wendys Funding Llc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aqua Finance Trust 2019-A</name>
        <lei>N/A</lei>
        <title>AQFIT 2021-A A</title>
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          <isin value="US03842VAA52"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arista Networks Inc</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>Arista Networks Inc COM SHS</title>
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          <isin value="US0404132054"/>
          <ticker value="ANET"/>
          <other otherDesc="SEDOL" value="BL9XPM3"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PLYM COMMERCIAL MORTGAGE TRUST 2026-IND</name>
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        <title>PLYM 2026-IND A</title>
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          <other otherDesc="Internal ID" value="69292BAA5"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc. COM USD5</title>
        <cusip>693475105</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wendys Funding Llc</name>
        <lei>5493009DRVSTWJOXUL48</lei>
        <title>WEN 2025-1A A2I</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Westgate Resorts 2022-1 Llc</name>
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        <title>WESTR 2022-1A A</title>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QG4676</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QG4741</title>
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        <name>Asurion LLC / Asurion Co-Issuer Inc.</name>
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        <title>ASUCOR 8 12/31/32 144A</title>
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        <name>Athene Global Funding</name>
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          <ticker value="ATH"/>
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      <invstOrSec>
        <name>PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC V5.222 01/29/31</title>
        <cusip>693475CB9</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc. COM NPV</title>
        <cusip>718172109</cusip>
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          <isin value="US7181721090"/>
          <ticker value="PM"/>
          <other otherDesc="SEDOL" value="B2PKRQ3"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QG4742</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal Home Loan Mortgage Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR QG6693</title>
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          <ticker value="FHLMC"/>
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      <invstOrSec>
        <name>Voya CLO 2014-4 Ltd</name>
        <lei>549300JHU3YI1LLL3V27</lei>
        <title>VOYA 2024-4A A2</title>
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      <invstOrSec>
        <name>Voya CLO Ltd</name>
        <lei>N/A</lei>
        <title>Voya CLO Ltd 2025-4A A1</title>
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      <invstOrSec>
        <name>Atlas Warehouse Lending Co. LP</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QN0783</title>
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        <name>Benefit Street Partners CLO XV Ltd/Llc</name>
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        <name>Benefit Street Partners CLO IV Ltd.</name>
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        <name>CBAMR 2018-8 LTD/ CBAMR 2018-8 LLC</name>
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        <name>Carnival Corporation</name>
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        <name>Madison Park Funding Xxxiv Ltd.</name>
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        <title>MDPK 2022-62A A1R2</title>
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        <name>Madison Park Funding Xxxiv Ltd.</name>
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        <title>MDPK 2025-73A A1</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Mello Mortgage Capital Acceptance 2018-Mtg1</name>
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        <name>Monster Beverage Corp</name>
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        <name>NRG Energy, Inc.</name>
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        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc. COM USD0.001</title>
        <cusip>64110L106</cusip>
        <identifiers>
          <isin value="US64110L1061"/>
          <ticker value="NFLX"/>
          <other otherDesc="SEDOL" value="2857817"/>
        </identifiers>
        <balance>2750417</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>264452594.55</valUSD>
        <pctVal>1.0050895878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Economy Assets Phase 1 Issuer LLC</name>
        <lei>N/A</lei>
        <title>USRE 2021-1 B1</title>
        <cusip>643821AB7</cusip>
        <identifiers>
          <isin value="US643821AB76"/>
          <ticker value="USRE"/>
          <other otherDesc="Internal ID" value="643821AB7"/>
        </identifiers>
        <balance>8554000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5292792.63</valUSD>
        <pctVal>0.0201160090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.41</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>New Residential Mortgage Loan Trust 2018-2</name>
        <lei>549300U1MV4J7YQZG974</lei>
        <title>NRZT 2018-2A A1</title>
        <cusip>64828CAA7</cusip>
        <identifiers>
          <isin value="US64828CAA71"/>
          <ticker value="NRZT"/>
          <other otherDesc="SEDOL" value="BG023Y2"/>
        </identifiers>
        <balance>783395.96960633</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>784456.42</valUSD>
        <pctVal>0.0029814379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.5</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>Nike, Inc.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>Nike, Inc. CLASS'B'COM NPV</title>
        <cusip>654106103</cusip>
        <identifiers>
          <isin value="US6541061031"/>
          <ticker value="NKE"/>
          <other otherDesc="SEDOL" value="2640147"/>
        </identifiers>
        <balance>2368396</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125098676.72</valUSD>
        <pctVal>0.4754552612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NRTH COMMERCIAL MORTGAGE TRUST 2025-PARK</name>
        <lei>N/A</lei>
        <title>NRTH 2025-PARK A</title>
        <cusip>669985AA1</cusip>
        <identifiers>
          <isin value="US669985AA17"/>
          <ticker value="NRTH"/>
          <other otherDesc="Internal ID" value="669985AA1"/>
        </identifiers>
        <balance>20952000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20927874.75</valUSD>
        <pctVal>0.0795393558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.06578</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>NVIDIA Corp.</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp. COM USD0.001</title>
        <cusip>67066G104</cusip>
        <identifiers>
          <isin value="US67066G1040"/>
          <ticker value="NVDA"/>
          <other otherDesc="SEDOL" value="2379504"/>
        </identifiers>
        <balance>8716171</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1520100222.4</valUSD>
        <pctVal>5.7773564617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC V6.875 10/20/34</title>
        <cusip>693475BU8</cusip>
        <identifiers>
          <isin value="US693475BU84"/>
          <ticker value="PNC"/>
          <other otherDesc="Internal ID" value="693475BU8"/>
        </identifiers>
        <balance>18085000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19979765.45</valUSD>
        <pctVal>0.0759359319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.875</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>PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC V5.401 07/23/35</title>
        <cusip>693475BZ7</cusip>
        <identifiers>
          <isin value="US693475BZ71"/>
          <ticker value="PNC"/>
          <other otherDesc="Internal ID" value="693475BZ7"/>
        </identifiers>
        <balance>21150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21418500.73</valUSD>
        <pctVal>0.0814040494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.401</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>PRPM 2025-RCF3 LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2025-RCF4 A1</title>
        <cusip>69382WAA0</cusip>
        <identifiers>
          <isin value="US69382WAA09"/>
          <ticker value="PRPM"/>
          <other otherDesc="Internal ID" value="69382WAA0"/>
        </identifiers>
        <balance>8034146.730318</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7949819.8</valUSD>
        <pctVal>0.0302144175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.5</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>PRPM 2024-RCF2 LLC</name>
        <lei>N/A</lei>
        <title>PRPM 2024-RCF2 A1</title>
        <cusip>693987AA7</cusip>
        <identifiers>
          <isin value="US693987AA72"/>
          <ticker value="PRPM"/>
          <other otherDesc="Internal ID" value="693987AA7"/>
        </identifiers>
        <balance>4707257.763294</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4622433.48</valUSD>
        <pctVal>0.0175682140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75</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>The Progressive Corporation</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>The Progressive Corporation COM USD1.00</title>
        <cusip>743315103</cusip>
        <identifiers>
          <isin value="US7433151039"/>
          <ticker value="PGR"/>
          <other otherDesc="SEDOL" value="2705024"/>
        </identifiers>
        <balance>1289550</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255640392</valUSD>
        <pctVal>0.9715975623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Priority 1 Issuer Logistics DAC</name>
        <lei>635400FLODFXG5M9HI42</lei>
        <title>PRPM 2025-RPL4 A1</title>
        <cusip>74448NAA2</cusip>
        <identifiers>
          <isin value="US74448NAA28"/>
          <ticker value="PRILOG"/>
          <other otherDesc="Internal ID" value="74448NAA2"/>
        </identifiers>
        <balance>15343871.164417</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14781910.87</valUSD>
        <pctVal>0.0561807485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3</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>NCL Corporation Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCLH 5.875 01/15/31 144A</title>
        <cusip>62886HBY6</cusip>
        <identifiers>
          <isin value="US62886HBY62"/>
          <ticker value="NCLH"/>
          <other otherDesc="Internal ID" value="US62886HBY62"/>
        </identifiers>
        <balance>38011000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36930188.76</valUSD>
        <pctVal>0.1403584195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</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>NCL Corporation Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCLH 6.25 09/15/33 144A</title>
        <cusip>62886HBZ3</cusip>
        <identifiers>
          <isin value="US62886HBZ38"/>
          <ticker value="NCLH"/>
          <other otherDesc="Internal ID" value="US62886HBZ38"/>
        </identifiers>
        <balance>23566000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22866994.73</valUSD>
        <pctVal>0.0869092563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="96211.420000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Loan Advisers Clo 34 Ltd</name>
        <lei>5493009EGZQAPYYVLD80</lei>
        <title>NEUB 2019-32RA A</title>
        <cusip>64135XAA9</cusip>
        <identifiers>
          <isin value="US64135XAA90"/>
          <ticker value="NEUB"/>
          <other otherDesc="Internal ID" value="US64135XAA90"/>
        </identifiers>
        <balance>24157798</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24171048.55</valUSD>
        <pctVal>0.0918654977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.97763</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>N/A</name>
        <lei>N/A</lei>
        <title>Royal Bank of Canada</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="RBC SL TD"/>
        </identifiers>
        <balance>2710405</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2710405</valUSD>
        <pctVal>0.0103012786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2710405.000000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Henderson Cash Collateral Fund LLC</name>
        <lei>N/A</lei>
        <title>Janus Henderson Cash Collateral Fund LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="896"/>
        </identifiers>
        <balance>10841620</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10841620</valUSD>
        <pctVal>0.0412051143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="10841620.000000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-15</ncom:dateSigned>
      <ncom:nameOfApplicant>JANUS INVESTMENT FUND</ncom:nameOfApplicant>
      <ncom:signature>JESPER NERGAARD</ncom:signature>
      <ncom:signerName>JESPER NERGAARD</ncom:signerName>
      <ncom:title>VP, CFO, TREASURER, AND PRINCIPAL ACCOUNTING OFFICER</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
